EDUCATION :: AUGUST/SEPTEMBER 2007
Employers Are On the Lookout for MBAs
The job prospects for newly minted MBAs look better than ever. The Graduate Management Admission Council®, a nonprofit education association of leading graduate business schools worldwide and owner of the GMAT ®exam, surveyed corporate recruiters who said they plan to hire an average of 18 percent more workers with MBAs and other graduate business degrees this year than they did in 2006.
The 2007 GMAC® Corporate Recruiters Survey also found that employers plan to increase the number of jobs for people with graduate degrees in areas other than business by about 16 percent, while cutting back on slots for people with undergraduate degrees by more than 7 percent.
GMAC® partnered with the MBA Career Services Council (MBA CSC), an international professional association, to develop questions for the survey. The survey has responses of 1,382 recruiters from 1,029 companies around the globe, including 149 of the Fortune 500.
Respondents to the survey are especially drawn to the expertise in managing corporate strategy and the ability to motivate workers that MBA students gain in business school. The recruiters indicated that people with graduate business degrees are likely to be more adept in these areas than others with less extensive education in management.
Dave Wilson, president and chief executive officer of GMAC®, reflected on how business school equips students with a special skill set, “A typical MBA graduate today brings maturity, intellect, experience, determination and a willingness to invest in his or her own intellectual capital. What a perfect combination for an employer!”
Not only are employers actively seeking business school graduates with this combination of attributes, the survey data indicates they are also willing to pay them higher salaries. Recruiters said that the annual base salaries that they plan to offer MBA graduates are 28 percent higher than those that they extend to new hires with other types of graduate degrees.
The University of Delaware offers part-time and Executive MBA options for busy, working professionals. The part-time program classes meet one night/week in the evening and the degree can be completed in just 3 years. Classes are conveniently located at the Pennsylvania Avenue Campus in Wilmington or on the main campus in Newark. The 19 month Executive MBA Program meets on Friday evenings & Saturdays at the Wilmington Campus over just five 9-week sessions.
Fall applications for both programs are now being accepted. Contact Denise Waters, Director Recruitment & Admissions at 302-831-2221 or visit www.mba.udel.edu for more details.
