Business school graduates can find more job opportunities and higher salaries.
When students decide to earn a master's degree in business or management, they are frequently anxious to find new job opportunities and increase their earnings potential. According to a new survey by the Graduate Management Admission Council (GMAC), these are two likely benefits of attending graduate school. Analyzing the success of business school graduates from around the world, the GMAC found that, upon earning a master's degree, a vast majority of students indulged in job opportunities and bigger paychecks.
The GMAC survey shows that 92% of the Class of 2012 was employed at graduation, which is the highest this figure has been since 2003. Last year, for example, only 86% of the Class of 2011 was employed at graduation, compared to 88% of the Class of 2010.
While some of these individuals remained in the job they held before earning a master's degree, many of them also found new employment opportunities. For example, 74% of alumni from full-time, two-year Master of Business Administration (MBA) programs got a new job upon graduating, while 67% of full-time, one-year MBA program graduates did the same.
On top of employment opportunities after graduation, most business and management school graduates were able to secure higher salaries. About 77% of graduates from the Class of 2012 said their starting salary met or exceeded their expectations.
The GMAC survey shows that alumni from full-time one- and two-year MBA programs in particular tended to earn median annual salaries of $100,000 in 2012. Graduates of part-time MBA programs saw median annual salaries of $95,000, while alumni from executive MBA programs earned about $125,000 per year.
The Right Choice
As most business and management school graduates were satisfied with their job opportunities and salaries, most said earning a master's degree was agood decision. In fact, 76% of alumni from the Class of 2012 said they could not have obtained their current job without the knowledge, skills and abilities they gained in graduate school.
Among all alumni from the Class of 2010 through 2012, about 95% said they would rate the value of their education as good to outstanding due to the chance it gave them to find challenging and interesting work, develop managerial skills and obtain the flexibility to become entrepreneurs.