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values graduates of online and in- person programmes equally,’ only one-third (34%) of them agreed. In terms of regions, American (39%) recruiters are more likely to disagree that there is a parity in online and on- campus programmes as compared to European (34%) or Asian recruiters (27%). In terms of industries, recruiters from consulting – the industry in most demand by MBA students – is least likely to view graduates of online programmes equal to their on-campus peers. Over half of recruiters from the consulting industry disagreed with the statement compared to 38% from the finance/accounting and technology sectors. The data suggests that the sustainability of demand for online programmes would require a higher level of acceptance by employers.
from long-term and near-term hiring trends. For Europe, the proportion of recruiters projecting to hire MBA graduates increased by 19 percentage points between 2012 (67%) and 2021 (86%). For 2021, hiring projections indicate that recruiters are looking at post-pandemic hiring with optimism. The proportion of European recruiters planning to hire MBAs in 2021 (86%) is higher than pre-pandemic 2020 (79%). European Schools pioneered the business master’s programme and are likely to have a much stronger level of recognition among recruiters. The proportion of recruiters projecting to hire master’s in management (MiM) graduates increased by 16 percentage points between 2012 (67%) and 2021 (83%). Moreover, the proportion of European recruiters planning to hire MiM graduates in 2021 (83%) is higher than the pre-pandemic 2020 (77%). This strength of hiring projections for MBA and MiM programmes by European recruiters suggests that graduate management talent continues to play an important role in accelerating organisational growth in the post-pandemic economy. MBA salary premium holds at the pre-pandemic levels One immediate outcome of the pandemic was the implementation of cost reduction strategies as organisations focused on preserving
resources. This resulted in downward pressure on compensation in many organisations. MBA median salaries were not immune to these pressures. In 2020, the projected MBA median salary reached an all-time high of $115,000 USD pre-pandemic and declined to $105,000 USD three months into the pandemic. However, the median MBA salary for 2021 is projected to recover to its pre-pandemic 2020 levels. At $115,000,USD the median salary of MBA graduates is 77% more than those with a bachelor’s degree ($65,000 USD) and 53% higher as compared to those hired directly from industry ($75,000 USD). This salary premium shows that investing in an MBA credential pays off over time. This salary premium could help an MBA graduate earn $3 million USD more than someone only holding a bachelor’s degree. Recruiters do not value online and in-person programmes at parity One of the highlights from this survey centers around corporate recruiters’ perception of online programmes. While online programmes were already gaining traction in recent years, the onset of the global pandemic accelerated their growth. However, when recruiters were asked about their level of agreement with the statement ‘My organisation
Visit GMAC.com/CorporateRecruiters to access the full report with additional data related to hiring projections by select regions (Asia Pacific, Europe, and the US) and programmes (MBA, master’s in management, master of accounting, master of finance, and master of data analytics). Dr Rahul Choudaha is Director of Industry Insights & Research Communications at GMAC. As an evangelist of graduate management education, he analyses, presents, and writes to help Business School professionals inform their strategies on the foundations of research and insights. The Graduate Management Admission Council TM is a global association of leading Business Schools. Since 1953, we’ve focused on solutions for schools and candidates to better discover and evaluate each other. GMAC works on behalf of the education community by providing best-in-class research, assessments, professional development, advocacy, and recruiting and marketing support.
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