More U.S. MBAs Find Jobs, but European Grads Are Paid BetterFrancesca Di Meglio
It’s a good time to be an MBA from an American business school. Some 95 percent of the Class of 2013 is working full-time, according to the latest data from the Graduate Management Admission Council (GMAC).
The situation isn’t as good across the Atlantic. Europe’s lagging economy means the job market is tighter: Eighty-two percent of recent MBA grads are employed.
Other regions had decent employment stats, with 92 percent of Latin American grads, 87 percent of Indian grads, and 85 percent of Asia/Pacific grads reporting they had jobs. Overall, 90 percent of those surveyed said they are employed, down from 92 percent in 2012.
Although MBA employment in Europe currently lags other regions, the overall job market for MBAs and grads with masters degrees in other business sectors that include management, accounting, and finance is improving. In the 2011 GMAC poll, 86 percent of recent business graduates said they were employed.
You needn’t feel badly for recent MBAs in Europe. GMAC reports that Europeans graduating from one-year, full-time MBA programs had the highest median starting salary of $101,093. The median starting salary for Americans graduating from two-year, full-time MBA programs was $90,000, with bonus and additional compensation totaling $10,000. In contrast, MBAs in India who graduated from full-time, two-year MBA programs reported a median starting salary of $34,988.
GMAC polls students who graduate from MBA and master’s of management, finance, and accounting programs. The organization follows up with them in September and October to determine their employment rates. The latest survey included participation from 915 alumni—a 19 percent response rate—from 129 business schools around the world.