This is a guest post by blogger Mia Hawkins of Essential Personnel.
Graduating is an important milestone in every person’s life and when you have got your MBA it should open the door to a successful and rewarding career.
Despite challenging economic times, the good news is that a very high percentage of recently qualified MBA graduates were able to find employment very shortly afterwards.
Improving job conditions
A survey carried out by the Graduate Management Admission Council found that about 92% of those with graduate degrees in business and management were able to find employment within three months after graduation. This is the highest annual figure since 2003 and represents an increase of 6% on the previous 12 months, indicating a promising upturn in job opportunities that is currently strengthening year on year.
Future mapped out
Another promising statistic and a welcome trend is the fact that that nearly seven out of ten graduates actually secured an offer of employment before even leaving graduate school. As expected, the more prominent business schools feature heavily in this statistic, but the overall picture across all the business schools certainly show that many graduates have their future mapped out at a very early stage.
Being able to secure an offer of employment so quickly is clearly desirable and inspires confidence in trying to attain an MBA in the first place, but were salary expectations met by these offers?
Some 77% of the graduates that were surveyed indicated that their starting salary either met or actually exceeded their expectations and the vast majority were also quick to point out that they would clearly have not been able to secure their employment without their graduate management education.
The world is now a smaller place in terms of job portability and opportunities to work in different places around the globe. As the world economy improves and developing countries seek skilled managers to lead growth, there are going to be many more options open to MBA graduates, whose skills in being able to manage people and problems in today’s complex marketplace will be in greater demand than ever before.
There are still several factors that will affect the starting salary that a graduate can expect and these include aspects such as the salary they may have been on prior to their degree, the level of experience they already have, their specific job function and also what industry they intend to continue their career within.
Another consideration that has an impact on salary is the length of the MBA program the student has undertaken, with a two year MBA program commanding a greater salary than someone who has completed a one year full-time degree.
There are essentially three main channels that are the most successful in securing a job offer. About 23% found job opportunities through networking with existing personal contacts, roughly the same percentage achieved an offer through using the career service offered by the business college and again about 20% were recruited as a result of on-site interviews conducted by prospective employers who arranged to visit the campus.
It is encouraging that so many graduates are able to find employment so quickly and even more so when you consider that over 90% said they were able to get the type of job that they actually wanted as well.
Mia Hawkins is a former personnel director of many years. An avid blogger, her informative posts appear mainly on jobs and careers sites. To get help finding a job, visit the helpful people at Essential Personnel Stockport.
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