Hot jobs for 2014
business school grads
Look beyond traditional
fields to technology, healthcare, manufacturing
June 5, 2014
RESTON, VA – MBAs and
other business school graduates on the job market might do well to
look beyond traditional sectors to fields such as technology,
manufacturing, and healthcare. A global student exit survey taken by
the Graduate Management Admission Council in February and March found
job seekers in those sectors were more likely to have an early job
offer than those searching in larger, more traditional fields such as
finance/accounting, products & services and consulting.
Overall, some 57 percent of
class of 2014 MBA and other business school graduates seeking jobs had
at least one early offer. That's down slightly from 60 percent in last
year's survey but nearly double the 32 percent who had offers at the
same time period in 2010. The survey of 3,049 business school
graduates at 111 universities was conducted by GMAC, the non-profit
organization that conducts the GMAT exam on behalf of graduate
business and management programs worldwide.
"This snapshot of the early
job market for business school graduates demonstrates that graduate
business degrees are useful in a wide variety of careers. While demand
remains strong among traditional industries, business school graduates
shouldn't overlook alternative sectors, which are actively seeking MBA
and other business school talent," said Gregg Schoenfeld, GMAC survey
The 15th annual Global
Management Education Graduate Survey looks at how business school
graduates view their programs and offers a snapshot of their early job
search and career intentions. A total of 62 percent of the graduating
students were involved in a job search, and another four percent were
either self-employed or intending to pursue entrepreneurship at
Although salaries vary
widely by industry, job level, and work location, the median increase
in salary of those with job offers was 80 percent over their
pre-degree salary. That's up from the 73 percent increase reported by
business school graduates with early job offers in 2013.
Some key findings regarding
job sectors for business school graduates:
Technology is emerging as a
promising sector for business school graduates, as 61 percent of those
seeking jobs in the tech industry had job offers, accounting for 15
percent of all students with early offers. In 2010, just 9 percent of
students with early offers were in the technology industry.
healthcare/pharmaceuticals may be the undiscovered beaches of the
business school job market. Although they account for just 7 percent
and 5 percent, respectively, of the students with early offers,
students searching in these sectors had the greatest success rate,
with 74 percent reporting at least one offer.
Consulting is the most
popular field for career-switchers, as 27 percent of all
career-switching graduates with job offers were in consulting. Among
all job seekers, 21 percent of those with job offers are in
consulting, on par with 2010 (20 percent).
Finance/accounting is the
top sector for graduates with job offers who are not switching
industries after graduation. Twenty-six percent of all those with job
offers were in this sector, slightly higher than last year (24
percent) but still lower than in 2010 (30 percent).
remains a steady sector for business graduates, accounting for 5
percent of the graduates' early job offers. Some 62 percent of those
seeking jobs in government/non-profit had early offers, about the same
as last year and five years before.
"The job market for business
school graduates has rebounded nicely since 2010, and employers in all
sectors recognize they need the business skills and acumen these
graduates bring," Schoenfeld said.
For a copy of the Global
Management Education Graduate Survey report, go to gmac.com/globalgrads.
For more information, contact Tracey Briggs, GMAC media relations
director, at 703-668-9726 or email@example.com.