Human Resources magazine and the HR Bulletin daily email newsletter:
Asia's only regional HR print and digital media brand.
Register for your FREE subscription now »
Improved economic conditions have led to employers investing more in masters of business administration (MBA) graduates this year.
According to the 13th annual Corporate Recruiters Survey by the Graduate Management Admission Council (GMAC), 80% of business school recruiters plan to hire MBAs this year.
This figure was an increase of 7% from last year and 30% higher than 2009, when just half of employers hired MBAs.
The survey, which polled 565 employers from 44 countries, found 83% of employers in Asia Pacific specifically plan to hire MBAs this year.
Six out of 10 European employers, and 86% of US employers, stated they plan to hire MBAs this year – all increases from 2013.
“MBAs have always been valued by employers, but this survey shows that as the economy improves, employers see MBAs as a good investment into their future,” Sangeet Chowfla, GMAC CEO and President, said.
The survey highlighted half of the global employers surveyed planned to hire master in management graduates, up from 45% last year.
Master of accounting and master of finance graduates were also found to be in demand, with 45% and 44% of employers worldwide planning to hire them respectively.
According to the report, the median base salaries employers expected to offer MBAs are US$95,000 (S$119, 295) in the US and US$69,000 (S$86,646) in Europe.
Projected median MBA base salary in Asia Pacific was found to be at US$21,340 (S$26,797), due to a much lower per-capita income in the region.
The survey also delved into the key skills employers value when looking to hire new MBA graduates.
“Out of communication, managerial, teamwork, leadership and technical skills, employers say communication skills are the most important ones they seek in new hires, on average twice as important as managerial skills,” the report stated.