MBAs May See Booming Job Market in 2013

By Catherine Groux
Posted December 11, 2012 04:00 PM

MBAs may find more jobs in 2013.
MBAs may find more jobs in 2013.
Graduate students who are wishing for more job opportunities for the holidays may be in luck, as a new survey by the Graduate Management Admission Council (GMAC) shows that businesses around the world plan to hire more Master of Business Administration (MBA) degree holders than they did in 2012. For the survey, the GMAC polled 201 employers at 182 companies in 31 countries.

Hiring on the Rise
According to the survey, 76% of employers said they plan to hire MBA graduates in 2013, up from 69% in 2012. This is good news for MBAs, but it does not mean other master's degree holders will not experience similar employment gains in 2013.

Next year, 43% of companies said they plan to hire Master in Management graduates, while 40% want to employ Master of Accounting candidates. Similarly, 39% of businesses said they plan to offer positions to Master of Finance graduates.

"Hiring activity is picking up, and students are beginning to have additional employment options," a finance/accounting employer in the U.S. told the GMAC during the survey. "Companies seem to be turning a corner and bringing on new talent."

Salaries Boom
As the number of jobs for MBAs and other master's degree holders continue to rise, these graduate students will also experience the benefit of higher salaries. The GMAC survey shows that between 55 and 64% of employers plan to increase annual base salaries for new hires either at or above the rate of inflation. 

Internships Abound
If graduate students are not quite ready to enter the job market, it should come as good news that they should also have no trouble finding an internship. According to the survey, 85% of employers said they plan to offer internships to students, while 65% said they will offer internships for MBAs in particular. In this way, most companies will keep their projected number of internships either the same as or higher than they were in 2012. This, in turn, could lead to more job opportunities for graduate students upon earning their diplomas.

"It's certainly a difficult market for graduates [but] there are greater opportunities for companies to utilize internships as a mechanism to evaluate potential hires," a products and services employer in Europe told the GMAC during the survey. 

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