Nine Out of 10 Class of 2013 Business School Alumni Employed, Poll Finds

CoolAvenues Newswire | November 21,2013 10:46 am IST

The business school class of 2013 fared well overall on the job market, as 90 percent of alumni around the world polled by the Graduate Management Admission Council in September were employed. Rates varied by country and world region of citizenship, with 95 percent of US respondents employed, 92 percent of Latin Americans, 87 percent of Indians, 82 percent of Europeans, and 85 percent of those from Asia-Pacific countries.

Results from the September 2013 alumni poll show the class of 2013 MBA and other specialized business master’s alumni remain successful in finding employment opportunities across job sectors and value the rewards they’ve received from their graduate business degree.
 

Most importantly, despite lingering economic uncertainty, nearly all (90%) new business school alumni of the class of 2013 attribute their career preparedness to their graduate management education.
 

The poll asked class of 2013 alumni to provide detailed information about their current employment status, including industry, job function, job level, location of employment, and salary. For the first time, the poll also studied entrepreneurs as job creators and asked about their future hiring plans. In addition, alumni were asked to evaluate the outcomes of their graduate management educational experience, rate the overall value of their degree, and indicate whether they would recommend a graduate management education to others.
 

Key Findings
 

• The newest class of MBA and master’s degree-holders posted very robust employment rates in 2013. Overall, 90 percent of the class of 2013 alumni were employed, down slightly from the 92 percent of class of 2012 alumni with jobs in September 2012 but higher than employment levels seen five years ago (84%).
• Graduate management alumni continue to find opportunities across industries, with the majority (57%) employed in the products and services, finance and accounting, and consulting sectors.
• Three-quarters (74%) of the class of 2013 say they could not have obtained their job without their graduate management education, a finding that echoes results in previous years.
• Regardless of employment status, the vast majority of class of 2013 alumni feel their education developed their qualitative (95%) and quantitative (92%) skills, expanded their network (90%), and prepared them for the job market (90%).
• Class of 2013 alumni (96%) rate the value of their degree as outstanding, excellent, or good, and the vast majority (96%) of the class of 2013 would recommend a graduate management education
to others.
• A graduate management education continues to offer alumni high levels of personal, professional, and financial rewards.
 

Employment Status
 

Ninety percent (90%) of class of 2013 alumni were employed as of September 2013, which includes five percent identified as entrepreneurs/self-employed. This is an improvement upon the 60 percent of job seekers from the class of 2013 who reported they had received a job offer prior to graduation in the GMAC student exit survey a few months earlier. Moreover, class of 2013 alumni reported improved employment status compared with the majority of global alumni from the past five years (Figure 1).
 

 

• Ninety-two percent (92%) of full-time two-year MBA alumni were employed at the time of the alumni poll-the highest level reported since the class of 2009 (Figure 2).
• Four out of five (82%) full-time one-year MBA alumni were employed, a slightly lower employment rate than that seen in 2012, but an increase compared with each of the three years prior.
• Class of 2013 alumni from professional MBA programs (part-time, online, and executive MBA) reported high employment rates (95%). These alumni typically work while enrolled in a program and remain with their current employer upon graduation.
• The employment rate for non-MBA business master’s degree holders,i who tend to have less prior work experience than MBA graduates, was lower than in prior years—76 percent of these 2013 alumni had jobs after graduation, compared with 84 percent of the class of 2012.
 

 

Employment status for class of 2013 alumni also varies by citizenship, with 95 percent of US respondents employed, 92 percent of Latin Americans, 87 percent of Indians, 82 percent of Europeans, and 85 percent of respondents from Asia-Pacific countries. Longitudinal data available for US citizens show that class of 2013 alumni reported improved employment status compared with classes in the past five years (Figure 3).
 

 

Industry, Job Function, and Job Level
 

The three most common industries of employment for the class of 2013 alumni—products and services, finance and accounting, and consulting—remain consistent with prior years. By function, positions in finance and accounting, consulting, and marketing and sales continue to be most popular for the class of 2013 (Figure 4).
 

 

• Globally, interest in the technology industry has grown in the last five years, from 12 percent in 2009 to 15 percent in 2013 (Table 1).
 

 

A majority of the class of 2013 (61%) job holders work in mid-level positions, while 14 percent hold entry-level positions, 20 percent are in senior-level positions, and 6 percent have executive-level status in their organizations. Job levels do vary by program type, however, possibly reflective of alumni levels of pre-degree work experience:
 

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