GMAC Survey of MBA Alumni Reveals Strengthening Job Market
More of last year’s MBA graduates landed jobs within three months of graduation – and at salaries that met or exceeded their expectations – than did graduates the year before, according to recent survey data from the Graduate Management Admissions Council (GMAC), which administers the GMAT entrance exam used by most business schools.
GMAC’s annual Alumni Perspectives Survey, released this week, found that 92 percent of last year’s graduates were working within three months of completing their MBA, up from 86 percent of graduates from the Class of 2011 surveyed at the same time the year before.
More than 800 MBA and other graduate-level alumni responded to this year’s survey, and of those, 77 percent said their starting salary met or exceeded their expectations. Furthermore, 76 percent said that were it not for their graduate management degree, they would not have gotten their job.
GMAC has been conducting this research for 13 years, and in that time period more than 4,400 graduate business school alumni have contributed information about their work life and careers to an overall global longitudinal survey. For all alumni from the classes of 2000-2012, GMAC found that 96 percent were employed, up two points from last year. Of those, 89 percent report working for an employer and 7 percent report being self-employed.
Sixty-seven percent of full-time MBA alumni took out loans to pay for their education – more than executive MBA and part-time MBA alumni – but the full-time MBA alums also report the highest percentage of loan repayment and were least likely to express concern about their ability to repay their loans based on their current financial situation, GMAC reports.
Of the thousands of alumni who have responded to the survey over the past decade-plus, 95 percent rate the value of their education as good to outstanding, according to GMAC.
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