The Corporate Recruiters Survey published annually by the Graduate Management Admissions Council (GMAC) is a wonderful tool for getting an in-depth idea of the most recent trends in hiring levels, salary standards, career development and other indicators of the status of post-graduate employment globally for both MBA and Master’s graduates.
The report is based on the responses of 600 employers in 44 countries who recruit on business school campuses and summarises the overall situation of the job market every year.
The 2014 Corporate Recruiters Survey reveals some interesting trends that bring good news to recent and upcoming Master’s graduates.
Hiring Statistics for 2014 by Subject
According to the survey, half of the employers surveyed in 2014 plan to hire graduates from Master in Management programmes (up from 18% in 2009 and 45% in 2013). Furthermore, 45% of companies plan to hire Master of Accounting graduates (up from 17% in 2009 and 36% in 2013). Additionally, 44% of employers plan to hire Master of Finance graduates (up from 39% last year).
Hiring Statistics for 2014 by Geographic Regions
The Corporate Recruiters Survey announces that in Asia-Pacific, more companies will hire recent business school graduates compared with 2013, with the greatest hiring growth expected for graduates of specialised Master’s programmes in management, accounting and finance.
- Sixteen percent more companies in Asia-Pacific plan to hire Master in Management graduates in 2014 (68%, up from 52% in 2013);
- Fourteen percent more employers plan to hire Master of Accounting graduates (53%, up from 39% a year ago);
- Seventeen percent more companies intend to hire Master of Finance graduates in 2014 (57%, up from 40% in 2013).
Additionally, a greater proportion of European companies plan to hire recent Master in Management and Master of Accounting graduates in 2014 compared with actual hiring in 2013: 46% of companies plan to hire Master of Accounting graduates, up from 33% in 2013.
While MBA talent remains the dominant source of business school hires among US companies, employers this year foresee growth in specialised business Master’s (non-MBA) hires.
- Forty percent of firms plan to hire recent Master of Accounting graduates (up from 35% in 2013);
- Forty-six percent of US companies plan to hire other specialised business Master’s graduates, an increase of 5% compared with 2013.
The Corporate Recruiters Survey additionally publishes information regarding the average remuneration among Master’s graduates. The median base salaries for specialised business Master’s recipients range from USD 63,000 (Master of Accounting) to USD 73,000 (Master of Finance), sizeably higher than the median base bachelor-level salary in 2014.
According to another useful and encouraging piece of information from GMAC’s latest survey, 29% of employers had non-MBA business Master’s students as interns last year. Of those, 68% hired one or more of their interns for full-time employment.