Business school alumni and employers agree: For best results, just add MBA. The degree appears to be synonymous with success for both groups in 2015, according to the latest survey data from GMAC. Coupled with clear evidence of the lifelong and exceptional value of the MBA, it’s never felt so right to cheer “best year ever” from the b-school rooftops.
An investment with lifelong dividends
Findings from the GMAC 2015 Alumni Perspectives Survey continue to affirm the value of the MBA, with 95 percent of b-school alumni across programs rating the value of their degree as good to outstanding. Much of this value may be attributed to the knowledge, skills, and abilities (KSAs) learned in business school, which 84 percent of alumni use daily in their careers. In particular, the majority of b-school alums say that their graduate management education has given them:
- Increased earnings power (90 percent)
- Improved job satisfaction (84 percent)
- Opportunities for quicker career advancement (85 percent)
- Preparation for their chosen career (87 percent)
- Preparation for leadership positions (91 percent)
The survey also shows moderate correlation between graduate management education and career success, with b-school alumni progressing further and faster up the career ladder than other professionals. Similarly, the value attributed to b-school KSAs by alumni appears to grow over time. By the time b-school alums reach C-level positions — on average 17 years after graduation — they are the most likely of all graduates (96 percent) to use KSAs on the job.
MBA offers bright hiring and compensation outlook
Employers, too, see the MBA as a valuable asset. According to the GMAC 2015 Corporate Recruiters Survey, 84 percent of surveyed employers plan to hire MBA graduates this year — up from 62 percent five years ago — and 59 percent of these companies plan to onboard a higher number of new MBAs than last year. Demand for recent MBA grads is at an all-time high in the United States, where 92 percent of companies plan to hire new MBAs in 2015.
Beyond demand, more than half of employers worldwide will increase starting salaries for new MBA hires in 2015. In the U.S., the median salary employers expect to pay new MBA hires is $100,000 — an increase of $5,000 for the same group in 2014, and nearly double the expected starting salary for bachelor’s candidates in 2015.
It all adds up to much more than a degree
Highly ranked for academics, groundbreaking research, and student outcomes, ASU’s W. P. Carey School of Business delivers full-time, part-time, and 100% online MBA programs that can accelerate your career. Discover the prestige and value you want — and the flexibility you need — at MBA Preview Day.