Graduate students looking for top finance jobs have bright prospects. The job market for business administration master's graduates is set to be outstanding this year, with the majority of employers indicating that they intend to maintain or hire business students in 2015.
Nine out of 10 employers that participated in a recent survey noted that they would have an eye on MBA-holders in 2015. The recruiter survey by the Graduate Management Admission Council, the administrators of the GMAT entry test for business schools, found that organizations have their sights set on expansion, and to do that they will look to master's holders with degrees in business or management. Rebecca Estrada Worthington, manager of the research, explained that an MBA can carry one over even in times of economic hardship such as the most recent recession.
Last year was a robust recruiting season for MBA-holders and individuals in pursuit of similar degrees and 2015 seems like it will be no different. GMAC has projected that the most in-demand candidates for recruiters will be individuals on Master of Management courses, which are one-year long programs that usually require prior experience. The survey found that this year 86 percent of employers expect to recruit or maintain students in Master of Management programs.
"Last year was a robust recruiting season for MBA-holders and individuals in pursuit of similar degrees and 2015 seems like it will be no different. "
Though individuals with Master of Management experience will be highly sought after, it is MBA-holders who still make up the largest group of talent for hiring managers to recruit from. Employers who plan to hire graduates with MBAs rose 3 percent year-over-year. The survey found that 72 percent of hiring managers plan on hiring an MBA graduate in 2015. In fact, half even indicated that they would put capital toward funding an employee's education.
Salaries also set to go up for MBA-holders
Additionally, salaries are set to go up for MBA students too. Despite the sluggish wage growth in the U.S., many of the employers surveyed by GMAC indicated that they would bump up salaries. About half of the organizations that participated in the research noted that they would raise salaries for MBA-holders enough to keep up with inflation, while 18 percent stated that they would boost wages even more than that.
However, for people with undergraduate and specialized business degrees, the salary picture isn't quite as rosy. Wages will likely stay about the same for the majority of individuals who hold these sorts of degrees. While specialized programs may be popular on campuses across the country these days, it seems that MBA-holders still have an edge when it comes to job prospects.
One notable reason for the continued desire for MBA-holders and Master of Management graduates is the fact that many organizations are prepared to expand in 2015. The global economic recovery has many feeling optimistic, with 64 percent of employers surveyed by GMAC indicating that they plan on growing their companies in the new year. A mere 25 percent of the firms surveyed are still trying to overcome economic challenges.