MBA Trends: Post-MBA Salaries Up, Strong Satisfaction
The results of GMAC’s Global Management Education Graduate Survey are in, and they show a positive picture for new grads.
• 59% of job-seeking new business grads had a job offer before graduation.
• 89% of new grads would rate their business degree good or outstanding, and 88% would recommend their program to others considering a graduate business program.
• The median salary increase reported by those accepting an early job offer was 90%-- an increase over last year’s reported 80% rise.
This chart (from GMAC) shows the demographic breakdown:
GMAC has full details of the report’s findings.
Take Away's from the GMAC Graduate Survey:
• Once again, the value of the MBA for the overwhelming majority of students is confirmed.
• The value of an MBA is higher if you pursue the degree earlier in your career. While generally it’s harder to get accepted with less than three years of work experience, if you can attend with 3-5 years of work experience as opposed to 5+ years of work experience, you’ll see higher ROI.
• For international applicants, specifically those coming from India, the average increase in salary was an eye-popping three times their pre-MBA salary. I suspect that result stems from the fact that many came international MBA students from countries, like India, with lower salary scales. Many MBA grads are after their degree work in countries, like the U.S., with higher salaries. Nonetheless, it’s a phenomenal figure.
• Those going into consulting and technology saw the greatest increase in salary among different industries. I suspect that there is overlap between the international and industry figures. In other words, a lot of Indians going to MBA programs want to go into technology or consulting.
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