11.2.2008
MBAs Ranking Top on the Job Market
The Financial Times regularly conducts a survey about the ranking of full-time MBA graduates in the job market. Alumni
wait three years before giving their opinions for this ranking so the
Financial Times can measure how their careers have developed over a certain period. Ever since the ranking began the reasons for doing an MBA have increased, with the career progress being one further good reason.
In the survey graduates
are asked, among other things, how much they were earning
before the degree, directly after it and how large their pay cheques
are now. They also indicate, using a standardised list, what level of
job they were doing at these three points. The results of the
2008 ranking show the careers of MBA graduates are progressing
quite fast. The average salary continues to rise – from nearly
$120,000 in 2007 to just below $126,000 this year. Before they started studying, 4 per cent state they were department heads and 11 per cent were senior managers or executives. Today,
the corresponding figures are 12 and 34 per cent. Last year 33 per cent
said they had made it to senior manager or executive level. When asked about the impact the MBA has had on their careers the respondents mostly highlight the positive impact. One graduate of Duke University’s
Fuqua School of Business wrote: “My MBA completely changed my life. My
career progress was based on my MBA degree.” Enrolment numbers are the same or higher than last year for 66 per cent of the 146 programmes who took part in the survey. In
its most recent survey of application trends (from August 2007) the
Graduate Management Admission Council, which administers the GMAT test
and reports on statistics and trends in business education, reports that 64 per cent of the 160
full-time MBA programmes included in its survey said that application
volumes are up.
Also employers acknowledge the value of MBA programmes and are willing to pay a premium if their employees decide to do an MBA.
Source: Financial Times
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