Going back to school to earn a master’s degree can feel like a big decision. You might be wondering: Will a master’s degree really be worth the time and money it takes to complete it? Since this is a very common question for people who are considering pursuing a master’s degree, we figured we would help shed some light on that topic in the specific case of a Master of Business Administration. Keep reading to learn more about the benefits of earning an MBA!
The Graduate Management Admissions Council (GMAC) is an international non-profit organization of leading graduate management schools around the world. Every year since 2011, the GMAC conducts what is called the Corporate Recruiters Survey. The goals of this survey are to:
- Portray the current employment landscape of MBA graduates
- Gauge the demand for MBA graduates
- Explore data on expected compensation for recent MBA graduates
- Provide insight into the hiring practices and trends across industries and world regions
According to the annual GMAC surveys, the hiring of MBA graduates has gotten stronger each year from 2011 to 2016, and 2017 is expected to be yet another year of growth in terms of MBA hiring. Salaries of MBA graduates are also expected to increase in 2017 according to the GMAC survey.
Check out some of the highlights from the GMAC’s most recent survey:
- Nearly 8 out of 10 (79%) employers are expected to hire MBA graduates in 2017. This reflects an increase compared to the 68% of the same companies that hired MBA graduates in 2016.
- 58% of the employers who said they plan to hire recent MBA graduates indicated that they expect to increase their starting salaries either at or above the rate of inflation.
- 40% of the employers who said they plan to hire recent MBA graduates plan to maintain salaries at 2016 levels. (The median MBA starting base salary in 2016 was $105,000.)
- 19% of the employers who said they plan to hire recent MBA graduates intend to boost salaries above the rate of inflation.
Gregg Schoenfeld, the research director at GMAC, states: “We see a continuation of positive news for the future of business graduates seeking employment. We still see optimism among employers in their hiring outlook, and we see some optimism in increasing salaries over last year. Almost no one is saying they are going to decrease salary so the value of management education is still holding.”
Based on trends from years passed as well as the most recent GMAC survey, it is clear that demand for MBA graduates isn’t going anywhere any time soon. In fact, it looks like demand will continue to rise in 2017.
If you are in the Sacramento area and you are interested in pursuing an MBA, you should really check out the program we offer here at William Jessup University. Our program is well-suited for busy working professionals (classes only meet one night a week) and designed to be completed in a short amount of time (just 24 months).
To learn more about our MBA program contact us today!