The GMAT Club » job prospects

MBAs Become More Popular in Eyes of Global Companies

accepted.com — Wed, 29 May 2013 15:15:30 +0000

The latest GMAC survey reveals that MBAs are starting again to steal the hearts of recruiters worldwide. Recruiting is up and expected to improve further according to GMAC. You should review the whole report, but in the meantime, here are a few highlights from the 2013 Corporate Recruiters Hiring Report.

• 75% of the 900+ companies surveyed worldwide plan to hire recent MBAs in 2013. This is up from 71% in 2012.

• Furthermore, companies plan on boosting the number of MBAs they hire in 2013, from 11.4 in 2012 to 14.6 in 2013 – a 28% increase.

• MBA graduates are starting their jobs with a higher salary this year than last year, up to $95, 000 in 2013 from a median salary of $90,000 in 2012.

• The Northeast region of the U.S. is home to the highest number of companies looking to hire fresh MBA or business masters graduates, at 92% of those surveyed.

• The South is expected to see the greatest increase in non-MBA masters hiring.

The industries experiencing the greatest increase in demand for MBAs are energy/utilities and health care/pharmaceuticals sectors – ironically, not the industries traditionally dreamed of by MBAs. See this helpful chart, and then the actual report, for more info.

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This article originally appeared on the Accepted Admissions Consulting Blog, the official blog of Accepted.com.

Gender Pay Gap Widens Among B-School Graduates

accepted.com — Fri, 21 Dec 2012 10:54:22 +0000

New Bloomberg Businessweek research shows that women make $0.05 less than men do for every dollar in their first post-MBA jobs. A decade ago, the BW article states, this gender wage gap was virtually non-existent. Below are some of the recent findings:

In the general workforce, women earn only 82% of male earnings.
2012 women graduates from Stanford made $0.79 on the male dollar.
At Wharton they earned $0.86 on the dollar. In 2002 women were earning 99% of what men earned.
In the b-school world in 2002, women earned $0.98 cents to the male dollar. In 2004, that percentage dropped to 94.1. It went up and down over the next few years, bottoming out at 93.2% in 2012.
Some women MBA graduates are making more than men, like at Texas McCombs where women earned 102% of male earnings in 2012.

According to the BW article:

The growing pay disparity may be partly explained by shifts in the career choices women MBAs are making today, compared to those they made a decade ago, according to a Bloomberg Businessweek analysis of 114 MBA programs surveyed in 2012 and 88 in 2002. One such shift involves finance jobs. Fewer MBA graduates of either gender are pursuing finance careers this year, when pay cuts and headcount reductions have made Wall Street jobs less attractive to some. But women have fled finance in substantially larger numbers, driving down average female salaries.

In 2012, 16% of women went into finance positions; in 2002, that number was as high as 29%. In 2012, 2% of women took high-paying investment banking positions; in 2002, 6% took similar jobs.

One factor that may play into the widening gender pay gap may include age – according to the Graduate Management Admission Council, the average age of women GMAT test takers is a year younger than men test takers, which likely means that they have less work experience, and thus, earn lower wages.

Another study shows that men generally have higher GPAs which would account for different pay wages.

The article concludes by stating that the greater concern here isn’t the slight pay gap during that first year post-MBA, but how the gap widens 10 years down the line, to about 50%.

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This article originally appeared on the Accepted Admissions Consulting Blog, the official blog of Accepted.com.

MBA Hiring 2013 Looking Up – Specialized Master’s on Fire!

accepted.com — Thu, 13 Dec 2012 20:43:03 +0000

According to a GMAC press release, employers are expressing early optimism for 2013 MBA hiring. Here are some of the key findings of the GMAC’s 2012 Year-End Poll of Employers, which includes responses from over 200 employers who hire students from graduate business programs:

76% of employers expect to hire 2013 MBA grads. Last year, only 69% hired 2012 grads.
43% of employers plan on hiring Master in Management grads (up 10% from last year).
40% expect to hire Master of Accounting grads (up 8% from last year).
39% intend to hire Master of Finance grads (up 7% from last year).
46% expect to hire other business MA degree holders (up 12% from last year).

For internships, 85% of employers plan on hiring interns in 2013. 65% expect to hire undergrad interns and 65% plan on using MBA interns.

While the MBA market is showing a healthy increase in anticipated hiring, salaries will remain fairly stable. Most employers plan to increase salaries at or above the rate of inflation. Only 1 in 8 intends to increase average base salary above the rate of inflation so soaring salaries are not in sight for 2013 MBA grads. Approximately 40% will keep starting salaries the same as in 2012. All this is good news if you are in business school or are out in the working world with 2-5 years of experience and are considering pursuit of an MBA.

The real news, however, in the above stats is the anticipated relative increase in hiring for the specialized masters programs vs. the slight decline in anticipated hiring for bachelor’s degree holders. Among the 200 employers who responded to the GMAC survey, the specialized degrees are increasingly in demand.

	Percentage Increase in Employers Hiring
Direct from Industry	3.61%
Bachelor’s	-2.50%
MBAs	10.14%
Nonbusiness master’s	10.42%
Specialized business master’s	35.29%
Master in Management	30.30%
Master of Accounting	25.00%
Master of Finance	21.88%

While MBA grads can anticipate a healthy job market and increased hiring, the 2013 market for specialized masters, especially the MiM, is showing striking strength and demand over 2012.

Seniors – especially seniors without a biz undergrad – take note. Look at the average salaries for MiM grads and what you are likely to make without the MiM or MAcc or whatever specialized business master’s degree tickles your fancy. You may find that pursuing a specialized one-year business master’s degree gives you a real edge in the job market, positive ROI, skills that are in demand – all at a time in your career when your opportunity cost is much lower. Also, if you later decide to pursue an MBA, chances are increasing that the business schools may either shorten your MBA to one year or allow you to take more electives and advanced courses because you have the basics as a result of your specialized masters. These programs can be an excellent launchpad for your business career.

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This article originally appeared on the Accepted Admissions Consulting Blog, the official blog of Accepted.com.

Internship-to-Job Conversion Rates Up

accepted.com — Sun, 28 Oct 2012 20:45:41 +0000

A recent Bloomberg Businessweek article, “MBA Interns Seeking Job Offers Breathe a Sigh of Relief,” talks about the increased success b-school students have had in receiving job offers from their summer internships. BW collected data from 30 top MBA programs in the U.S. Six of these said that they saw no changes in the internship-to-job conversion rate; eight programs said they expected a slight improvement; the remaining programs had no data to offer.

It’s still early, though. Some internships may be planning on extending offers, but just haven’t yet. So these numbers may continue to improve.

Here’s Businessweek’s breakdown of the winners and losers in internship conversion:

The Internship Conversion Winners…

Cornell University Johnson Graduate School of Management – 74%
Dartmouth College Tuck School of Business – 71.5%
Arizona State University Carey School of Business – 68.9%
University of Chicago Booth School of Business – 68.8%
Brigham Young University Marriott School of Management – 68.6%

…And Losers

Thunderbird School of Global Management – 17.3%
Syracuse University Whitman School of Management – 21.4%
North Carolina State University Jenkins Graduate School of Management – 21.9%
DePaul University Kellstadt Graduate School of Business – 22.2%
Fordham University Graduate School of Business – 24%

Some more numbers for you:

35% of Minnesota Carlson students have reported job offers from summer internships so far.
At Emory Goizueta, that number is at 50%.
Notre Dame Mendoza has reported a 60% internship-to-job offer rate, a 5% increase over last year.
40% of students at CMU Tepper have reported internship-to-job offers so far this year.

The article explains: “With big banks slashing head count at a furious pace earlier this year, those numbers could have been a lot worse.” Patrick Perrella, Mendoza’s Director of Career Development adds: “Contrary to popular opinion, there is a lot of strength in MBA hiring.”

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This article originally appeared on the Accepted Admissions Consulting Blog, the official blog of Accepted.com.

Social Media Influences Curricula, Affects Applicants

stacyblackman — Fri, 06 Jul 2012 17:56:57 +0000

MBA students and applicants live and breathe through social media, which is a good thing, considering the growing demand in the business world for employees with honed social media skills. According to a recent Financial Times article—which quotes me—this relatively new form of social dialogue is revolutionizing the way business schools interact with applicants, students, companies and alumni.

Social media is a topic that interests me greatly, as Facebook, Twitter, LinkedIn and YouTube make up a huge part of my company’s communication efforts and help reinforce my brand reputation. Last year, I wrote a post for my U.S. News blog in which I discussed some of the courses in social media now available at business schools. In it, I explain that familiarity with the various forms of social media communication is no longer enough; graduates have to be able to transfer this experience into the commercial landscape.

Harvard Business School professor Misiek Psikorski, who teaches a course called Competing with Social Networks, agrees, telling FT that social media presents a new way of approaching markets, and “It is critical for our students to understand these media.”

One important point that I make in the FT article concerns managing one’s online presence, particularly where b-school applicants are concerned. MBA admissions committees are increasingly tech-savvy, and often research applicants’ Facebook, Twitter or LinkedIn accounts to confirm information on an application and generally check for appropriateness in his or her online persona.

If you have concerns about how you might be perceived by AdCom, read this SBC Scoop on Matching Your Face(book) to Your Name, which explains in detail how one client handled this situation.

Today’s students don’t see social media as a trend; rather, this is a generation that has grown up with the Internet. Business schools, like any enterprise, must adapt and evolve to this new reality in order to prepare graduates who can develop and manage marketing strategies that address the nuances of the online world.

If you are looking for guidance on your MBA application, Stacy Blackman Consulting can help with hourly and comprehensive consulting services. Contact us to learn more. Visit the website for Stacy Blackman Reviews, and check out the company’s e-publications for more in depth school-by-school guidance.

2013 Rank & Company	2012 Rank	% of MBAs who named company in top five
1. Google	1	23.4%
2. McKinsey	2	16.6%
3. Apple	3	14.8%
4. Amazon	6	14.1%
5. BCG	5	12.2%
6. Bain & Co.	4	11.6%
7. Nike	9	10.7%
8. Walt Disney	12	10.5%
9. Deloitte	11	9.8%
10. Goldman Sachs	7	8.5%
11. Facebook	8	7.9%
12. J.P. Morgan	10	7.5%
13. IDEO	13	7.5%
14. Microsoft	17	7.4%
15. Starbucks	20	6.1%
16. Johnson & Johnson	15	6.0%
17. Blackstone Group	14	5.9%
18. Procter & Gamble	18	5.1%
19. IBM	22	5.0%
20. General Electric	16	4.9%
21. Coca-Cola	21	4.5%
22. LVMH	24	4.4%
23. BMW Group	23	4.2%
24. 3M	37	3.9%
25. U.S. Dept. of State	30	3.8%

The GMAT Club » job prospects

Top 25 Companies to Work for Post-MBA

MBAs Become More Popular in Eyes of Global Companies

Gender Pay Gap Widens Among B-School Graduates

MBA Hiring 2013 Looking Up – Specialized Master’s on Fire!

Internship-to-Job Conversion Rates Up

Social Media Influences Curricula, Affects Applicants