Posted by: Phil Mintz on May 15, 2008
How’s this for a headscratcher? Despite huge layoffs in the financial services industries, more recruiters are planning to hire MBAs this year than a year ago, according to a report issued today by The Graduate Management Admissions Council.
According to the GMAC:
Seventy percent of recruiters in the survey are in the market for people with MBAs, compared with 64 percent last year. Additionally, the expected projected number of new hires per employer is slightly up, from an average of 12 new MBA hires to 13 new MBA hires.
As for salaries, the GMAC says:
Most employers expect salaries to rise at the rate of inflation or better despite a rough economic climate that is seeing many firms retrench.The projected starting annual salary for new MBA hires in 2008 averages $83,541, up from $80,452 last year. In the U.S., projected average starting annual salaries is $85,581, up from $81,483.
One caveat -- the survey was conducted from mid-February through mid-March -- before the Bear Stearns meltdown.