Businesses Hiring Fewer MBAs, But Still Paying Top Dollar For Them
May 12, 2009
By the My MBA Career Content Team – Find Top MBA Degree Programs
Even as the current economic crisis keeps hiring low, MBA graduates still command top dollar salaries, according to new research from the Graduate Management Admission Council(GMAC).
"The fundamentals have not changed. Corporations continue to value the MBA, and they continue to pursue people with the unique mix of skills and talents that characterize business school graduates," said Dave Wilson, president and CEO of GMAC.
The GMAC Corporate Recruiters Survey for 2009, which drew responses from 2,825 hiring managers from 2,092 companies in 63 countries, found the firms expected on average to hire six new MBAs this year, half of 2008's numbers, and nine percent fewer firms intended to hire any MBAs.
However, employers also reported they plan to pay the MBAs they do hire nearly twice as much on average as new hires with only an undergraduate degree. They also plan to pay MBAs higher starting salaries than those with other graduate management degrees.
Employers still respect what an MBA says about your business acumen, ambition and drive; 98 percent of recruiters in the survey said they were satisfied with their current employees who have MBAs. If you still want to command top dollar and employer respect, even in tough economic times, perhaps you should consider getting an MBA degree.
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