MBA Prospects Undaunted by Tough Job Market

Jennifer Hoops • Sep 28, 2011

Despite a slight decline in the numbers of business school applicants, prospective b-school students are not daunted by the idea that finding a job upon graduation with an MBA degree, according to a new survey.

The study by Veritas Prep, a consulting firm for GMAT preparation and MBA admissions, is titled "Inside the Minds of MBA Applicants." The key finding is that 67 percent of MBA applicants surveyed would apply to business school even though finding a job upon graduation could prove difficult. Considering the high rate of unemployment nationwide and the difficult economic environment, this shows that the MBA degree remains a highly coveted and desirable option for young and mid-career professionals.

Study gives insight into mindset of MBA prospects and students

During June and July 2011, Veritas Prep surveyed 867 prospective and current business school students for their research. Their finding fell in categories such as Motivations for Pursuing an MBA, Professional Aspirations and Concerns, and Business School Research and Selection. Other findings include:

  • An expected high rate of employment churn upon graduation: 70 percent of the survey respondents said they will use their MBA to launch a new career, while just 16 percent said they want to use their MBA to advance in their current career.
  • Upon graduation, students are most concerned about finding a long-term career, maintaining a good work-life balance and their ability to pay off student loan debt.
  • Prestige and business school ranking were among the top factors in deciding on an MBA program.

The complete study and results can be found on the Veritas Prep website: www.veritasprep.com.

 

Jennifer Hoops works as a project manager within the IT organization of a global manufacturing company. Her previous experience includes IT consulting and software sales. Prior to earning an MBA and becoming an IT professional, Jennifer earned a Bachelors degree in Economics and Music and spent several years as an independent music teacher.