Job Prospects Improve for MBA Grads, Just Remember That Visa
Job seekers armed with MBA degrees may find it easier to find employment in 2012.
The Graduate Management Admission Council (GMAC), the non-profit education organization for business schools, released the results of its 2011 Year-End Poll of Employers today. It suggests job prospects are significantly improving for new MBA graduates.
GMAC polled 229 employers from 216 companies around the world. It finds 74-percent of employers plan to hire the business graduates next year. That is up from 58-percent in 2011. Plus, 32-percent of the respondents reveal they want to boost MBAs' salaries.
The survey also indicates nearly four times as many companies want to increase the number of MBAs they hire in the new year by 22-percent. Last year, that number was just six percent.
Michelle Sparkman-Renz, GMAC's director of research communications, said the survey reflects optimism among companies - as they try to improve productivity, expand their customer bases and reduce costs.
She surmises 2012 will be a much better year for new MBAs and believes we could return to post-recession levels.
"Companies are slowly defrosting from survival mode and trying to figure out how they can grow," said Sparkman-Renz.
By growing, she means thousands of miles from Wall Street where major financial firms are still threatening lay-offs.
"We have a sense that expanding geographically and expanding the customer base is part of the demand and I expect that companies may send many of the MBAs to their emerging markets and overseas locations," said Sparkman-Renz.
The conclusions suggest moving abroad could be the most bullish case for your new diploma in 2012. Just remember to update that Visa.
Stephanie is Squawk Box producer. Follow her on twitter @StephLandsman
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