The MBA is coming back strong after taking a serious hit during the recession.
A survey by the Graduate Management Admission Council, which administers the GMAT exam, found that 86 percent of companies with business school recruiters plan to hire newly minted MBAs this year. In 2009, just 51 percent reported they were doing so.
The numbers have been rising steadily since that low point. Last year, 81 percent of respondents to the survey indicated they would recruit from the Class of '13.
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The survey of business school recruiters generated responses from 565 employers, including 36 Fortune 100 companies.
While more MBAs are being sought out, their pay's not going up yet.
The survey said that the "projected median U.S. base salary for MBAs" would be $95,000 this year, essentially unchanged from last year. The survey found that the median payout for those with bachelor degrees is around $50,000. The quest to hire those with a BA increased incrementally, from 77 percent to 78 percent year over year.
An increase in MBA recruiting, especially among companies in the West and Midwest, "reflects a growth in the need for MBAs at tech and manufacturing firms, which aren't traditionally the leading sectors in recruiting at business schools, but they are key sectors for the overall economic climate of the U.S. in general," said Michelle Sparkman Renz, director of research communications at the council.
Companies also are targeting more accounting graduates this year, with 40 percent of employers saying they will hire master of accounting graduates, compared to 35 percent in 2013. Others with specialized MBAs will be in higher demand, too; the survey said 46 percent plan to hire such graduates, compared to 41 percent in 2013.
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Dan Cook
Dan Cook is a journalist and communications consultant based in Portland, OR. During his journalism career he has been a reporter and editor for a variety of media companies, including American Lawyer Media, BusinessWeek, Newhouse Newspapers, Knight-Ridder, Time Inc., and Reuters. He specializes in health care and insurance related coverage for BenefitsPRO.
