Here is a good news for the MBAs who are gona pass out this year… More companies are looking to hire fresh MBA and master of accounting graduates in 2012 than they did last year says a study conducted on Global Management Education Graduate survey by Graduate Management Admission Council ( GMAC).
I had earlier written about importance of work experience prior to MBA. There are many freshers who pursue MBA and this is a good news for them. Around 40% of the candidates who pursue for MBA are freshers (as said by a career councilor).
Nearly 79% of the companies say they plan to hire recent MBA graduates this year, compared with 72% last year. On an average, the companies expect the number of new hires to increase to 17 per firm in 2012 from 13 per firm in 2011.
The Global Management Education Graduate survey for mid-February to mid-March 2012 is drawn from a sample size of 1,096 recruiters, 128 business schools and 800 companies the world over. Airtel India, India Infoline, ISB Hyderabad, IIFT, Delhi and SP Jain Institute of Management Research were the Indian companies and business schools participating in the survey.
Companies with fewer than a 1,000 employees accounted for the largest proportional increase in demand for MBAs and other specialised business graduates in the survey. Around 62% of the newly-minted MBAs and other management education graduates participating in the survey had a job offer, up from 54% in 2011.
The survey states that MBA graduates will continue to command higher salaries this year compared with the bachelors graduates in the US. The median salary for MBA hires in the US is $90,000, but four out of five industries with available data reported a median salary greater than that amount.
Among sectors, the proportion of companies intending to hire recent MBA graduates is expected to increase by 22% in the technology sector in 2012 as compared with 2011.
Within the non-profit and government sector, the proportion of companies planning to hire other specialised masters in business graduates and masters in management graduates grew by 64% and 52% respectively. [source]
Even after this global mayhem (the European crisis) companies are planing to hire more and more people. This explains me one thing that the growth story in India is intact, though they might not be offering very high salary as they may have offered earlier.
As seen from the survey majority of the job offers are coming out from Service industry. Another interesting finding from the survey is that an USA MBA grad gets an average salary of 90,000 USD+. Even non-profit and government sector is planing to hire more of fresh masters this year. European companies reported a drop in demand for these graduates. Companies with less than 1000 employees account for the largest proportional increase in demand for MBAs and other specialized business graduates this year.
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