As Economy Improves, so does Job Outlook for MBAs
In a US News and World Report article posted on December 22, 2010, Brian Burnsed sheds light on several hiring trends that are in favor of current MBA students and recent grads of MBA programs. He reveals several positive indicators that the job market for MBAs is improving and highlights lessons learned from two recent business school grads.
Improving Job Market for Graduates of MBA Programs
Burnsed imparts good news for MBA programs, specifically uncovering three trends founded on data from the Graduate Management Admission Council (GMAC) that support his claim:
- Although the median salary for MBA graduates in 2010 is still slightly below that for 2008, it is moving in the right direction with a 5.1 percent increase from 2009 to 2010.
- The number of MBA school applicants decreased in 2010, meaning less competition for MBAs in the job market.
- Although MBA school grads are accepting lower salaries, a greater number of them secured a job in 2010 than in 2009.
Burnsed also shares lessons learned by two recent grads, explaining that although the economic crisis presented some hardship, there were no regrets in pursuing the MBA. One believes her masters degree has made her more well-rounded, while the other asserts his MBA specialty makes him more desirable in the job market - both agree that MBA school was worth it.
