Strong Employment Rates Reported for 2013 MBA Grads
In a September poll of the job market conducted by the Graduate Management Admission Council, 90% of the MBA Class of 2013 indicated they were employed. GMAC reports this figure is six percentage points above the 2009 employment rate, but down a tick from the 92% of graduates employed by September 2012.
There is some fluctuation in rates by geographic region, with 95% of U.S. respondents employed, 92% of Latin American, 87% of Indians, 82% of Europeans, and 85% of graduates in Asia-pacific countries.
Despite continued economic uncertainty, 74% of class of 2013 alumni who landed jobs said they could not have gotten it without their graduate management education.
“In spite of the slow, uneven economic recovery around the world, the job outlook for business degree-holders is holding fairly steady,” says Gregg Schoenfeld, director of management education research for GMAC. “Regardless of employment status, the vast majority of alumni from the class of 2013 believe their education developed their skills, expanded their network, and prepared them for the job market.”
- The technology sector is drawing 15% of the class of 2013 graduates worldwide, up from 12% in 2009.
- Ninety-two percent of full-time two-year MBA alumni were employed at the time of the follow-up alumni poll — the highest level reported since the class of 2009.
- MBAs and other business master’s degree-holders continue to find opportunities in a variety of industries, with a total of 57% employed in the products and services, finance and accounting, and consulting sectors.
- Five percent of class of 2013 alumni reported themselves as entrepreneurs/self-employed. A majority (78%) of self-employed alumni expect to hire a median of three employees in the next 12 months.
- Almost all class of 2013 alumni (96%) rated the value of their degree as outstanding, excellent or good, similar to previous years.
The poll is a follow-up to the GMAC Global Management Education Graduate Survey, an exit survey of graduate business students conducted in February and March. Some 915 alumni from 129 business schools worldwide responded to the poll in September.