Posted by: Louis Lavelle on May 11, 2009
Fewer job offers, lower salaries, and reduced expectations all around—that’s the upshot of the latest GMAC surveys of graduating business school students and corporate recruiters.
So without further adieu:
■ Half of all full-time two-year MBA program graduates had at least one job offer when the survey of 5,214 graduating students at 203 schools worldwide was conducted betweeen Feb. 11 and March 11—that’s down from 62 percent in 2008.
■ Those same students reported an average of 1.9 job offers in 2009, down from 2.3 in 2008.
■ Those same students expected their post-MBA starting salaries to be 66% higher than their pre-MBA salaries. In 2008, they were expecting a 74% bump in salary.
■ 38% of part-time MBA grads had at least one job offer, down from 52 in 2008.
■ The average part-time student received 2 job offers in 2009, down from 2.4 in 2008.
■ Part-time students expected post-MBA starting salaries to be 46% higher than their pre-MBA pay, down from 53% in 2008.
GMAC also surveyed 2,825 corporate recruiters representing more than 2,000 companies in 63 countries. The view from their perspective wasn't any prettier:
■ On average, the companies surveyed said they planned to hire just six MBAs each, down from 12 in 2008.
■ 9% fewer companies said they plan to hire MBAs in 2009.
For what it's worth, GMAC says the strongest employment prospects for recent MBA grads are in consulting, healthcare/pharmaceuticals, and energy/utilities.