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According to new survey from the Graduate Management Admission Council (GMAC) released last week, eighty-eight percent of the grads who responded to the survey reported being employed after graduation, compared to 84% of survey respondents in 2009. The salary picture also improved: 2010 graduates reported a median starting salary of $78,820 (U.S.), up from $75,000 for those who graduated in 2009.
During the last recession (from 2001 to 2002), only 72% of respondents reported being employed when they graduated from business school in 2003. Of course, this recession has been even deeper and has lasted longer than that one, so in some respects it’s not surprising that hiring rebounded by now. After all, this marks at least the third year in which companies’ bottom lines have been under pressure, and these businesses do eventually have to replenish their talent.
Of course, this being a GMAC release, it includes positive testimony from these recent grads about the value of their degrees: About three-quarters of alumni indicated they could not have obtained their current job without their graduate business degree. No matter what market conditions are, a graduate degree such as an MBA is often the only way to land an interview with many of these firms, particularly in investment banking and management consulting.
You can read more about the GMAC survey results here. Ready to sign up for a GMAT course? Enroll through GMAT Club and save up to $180 (use discount code GMATC10)! Take a look at our course options in some of our most popular cities: New York, Chicago and Los Angeles. Make sure to subscribe to our blog for up to date GMAT and MBA admissions information.
