Earning your MBA can help you learn the skills you need to excel in the business world.
Recently released research shows that graduates of MBA programs are entering a largely favorable employment market.
This data underlines the idea that MBAs can help individuals interested in business careers develop the management, problem-solving and leadership skills needed to excel in the private sector.
Let’s take a closer look at the findings below:
A ‘stable recruiting environment’
New research from the MBA Careers Services & Employer Alliance shows that there is a “stable recruiting environment” for MBA students.
The research was drawn from a survey conducted by the organization between January and February 2018.
It found that technology, consulting, health care and financial services firms showed the strongest growth in recruiting activity for applicants with MBAs, with hiring at startups showing the largest increase. The survey also found 37 percent of full-time MBA students and 35 percent of part-time MBA students reported an increase in on-campus opportunities in the Fall 2017 compared to the previous year.
The findings are in line with a separate survey from the Graduate Management Admission Council, which found nearly 9 in 10 companies planned to hire recent MBA graduates in 2017 – with 86 percent of employers saying they would compared to 79 percent in 2016.
MBA jobs garnering high salaries
Separate research by U.S. News & World Report also maintains that there are lucrative career opportunities available to students with MBAs.
“Recruiters have said that some of their corporate clients will not consider any candidate without an MBA, which shows just how much business leaders value this qualification,” said U.S. News contributor and MBA admissions consultant Stacy Blackman.
Analyzing data from 114 full-time MBA programs, the publication determined the top 10 business schools in terms of competitive compensation.
The highest average salary and bonus were for graduates of the MBA program at Stanford University, at $173,989 combined. Harvard University, University of Pennsylvania (Wharton), Columbia University and University of Chicago (Booth) rounded out the top five.
Overall, the average salary and bonus MBA graduates received in 2017 totaled $105,146.
U.S. News & World Report also ranked industries by MBA graduate salaries. It determined consulting was the best-paying field for MBA graduates, with an average salary of $130,329. Financial services was No. 2, with an average salary of $115,094, and technology followed with $112,560.
Why receive your MBA?
In addition to the competitive salary and bonus opportunities, MBA programs can equip students with the skills, knowledge and competencies they need to excel in the business world and advance in their careers, regardless of the specific industry in which they’re interested.
Technology writer Eric Jackson, in an article for Forbes, discussed several “underrated” reasons to get an MBA. These included the opportunity to develop public speaking, critical thinking and creative-problem solving skills, assemble a network of lasting friends and professional connections and expand your business perspective to have a more global view.
Whether you’re interested in pursuing a business-oriented role at a technology firm, fledgling startup or health care organization – or want to strike out on your own as a consultant – studies show an MBA can help jumpstart your career.