A recent survey of corporate recruiters shows that 2016 is shaping up to be a strong year for professionals with a Master of Business Administration degree.
According to the Graduate Management Admission Council (GMAC), which polled 179 companies worldwide, 75% of employers expect to hire an MBA graduate this year.
In addition, the GMAC poll found that a majority of respondents are preparing to raise the annual starting salary for MBA hires at least by the rate of inflation in 2016.
For professionals hoping to get a foot in the door with an internship, the poll also delivered good news. About 73% of employers reported that their companies offer internships to MBA students and 92% of those companies expect to maintain or increase the number of internship opportunities in 2016.
Survey respondents cited several reasons for the optimistic forecast, with 96% reporting that “hiring recent business school graduates creates value for their companies,” and 68% saying their companies consider the recruitment of MBA grads to be a priority.
In further good news for recent graduates, fewer companies polled stated that they plan to reduce costs or are still struggling to overcome economic challenges compared with recent years.
In addition to polling employers, the GMAC also surveys alumni of graduate business schools. Of the more than 12,000 alumni who participated in the 2015 survey, the poll found that MBA grads typically advance quickly within their companies and enjoy a high level of job satisfaction.
A majority of alumni reported being in a senior-level position within five years of graduation, with 25% in an executive-level position within 10 years. About 5% were serving in a top-tier position, such as chief executive officer or chief financial officer, within a decade of earning their graduate degree.
Nearly 90% of alumni attributed their increased earnings power to their graduate management education. Additionally, more than 80% credited their education with boosting key attributes such as innovation and competitiveness.