Each year, the Graduate Management Admission Council (GMAC) conducts a comprehensive, global survey of employers who hire recent MBA graduates and other graduate business students. If you’re considering whether entrance into an MBA program is for you, here are some results of that survey that you’ll find helpful.
- Almost all employers (99%) report satisfaction with their MBA employees, including 76 percent who are very or extremely satisfied.
- The majority of employers (75% or more) report that compared with other employees at the same job level employees with an MBA degree demonstrate higher or much higher abilities in
- Managing strategy and innovation
- Strategic and system skills
- Knowledge of general business functions
- Managing decision-making processes, and
- Learning, motivation, and leadership.
- The vast majority of employers that hire graduating MBA students expect that new MBAs will have some prior work experience and look for candidates with an average of three and half years of experience.
- Economically-driven factors (e.g., no job openings) and different hiring needs aside, one in four companies that did not hire MBA graduates in 2009 (22%) reported that candidates had unrealistic job expectations, including high salary demands and unrealistic job role or level expectations.
- Most graduating MBAs feel that the overall value of the MBA degree is high, and most say they are satisfied with the benefits of the degree. MBAs also report that they have more career opportunities and a significant boost in pay as a result of their degree.
MBA Salaries and Return on Investment
- Salaries paid to MBA graduates are higher than those paid to people right out of college and people who graduated with other kinds of master’s degrees.
- Factors that affect your actual post-MBA salary include the following:
- Your post-MBA job function
- the industry you work in after graduation
- the geographic region in which you work
- your pre-MBA professional experience (including whether your experience base is in the field you pursue post-MBA)
- In general, graduate business alumni report higher salaries than before they earned the degree, high rates of job satisfaction, confidence that they did the right thing by earning a graduate business degree, and satisfaction with the career opportunities that their management skills bring.
- About one in two alumni received a promotion with their current employer.
- Three out of four alumni indicated their ROI expectations were met or exceeded.
What factored into their school choices? Biggest influences have been:
- The quality and reputation of the school
- The financial cost of the school
- Personal fit (whether the school was right for them as individuals), and
- Location
In summary, it’s important that you define quality for yourself and that you make sure that the school you choose offers the curriculum, faculty, and services you will need to further your career goals. At Milligan College, we provide all of our students an enriching academic experience within a Christian environment that will empower individuals achieve their dreams and to become change agents within their organizations.
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