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Survey finds job market improving for MBA grads

February 15, 2005

Job markets locally, regionally and nationally are improving for students who are earning master’s of business administration degrees, according to Blair Sanford, director of MBA career services at the School of Business.

She cites UW–Madison employment data, along with a new survey of 57 business schools conducted by the MBA Career Services Council, the association for MBA career services professionals.

“Companies have increased their presence on campus and MBAs are getting more job offers,” says Sanford. “The MBA Career Services Council survey identifies a clear trend of increased recruiting activity in the financial and consulting industries, in particular. At UW–Madison, product management, market research and corporate finance have been particularly strong areas.”

The survey was developed by Randy Williams, director of career services at the University of California-Irvine’s Graduate School of Management.

“There is clear evidence that for the first time since 2001, the majority of MBA programs are seeing an increase in recruiting,” says Williams, who is on the MBA Career Services Council board. “This is certainly good news for business school graduates and prospective MBA students.”

Recruiting activity, such as job postings and on-campus interview schedules, increased last fall compared to fall 2003, according to 84 percent of the schools surveyed. Other findings included:

  • 81 percent of the schools, including UW–Madison, reported that a higher percentage of 2004 graduates had at least one job offer within three months of graduating, compared to 2003.
  • 93 percent of the schools predicted that the 2004-05 job market would be even better than the previous academic year.
  • 61 percent of the schools predicted companies would expand their hiring this fall, in anticipation of improved business by next spring or summer.

In terms of salary, 2004 graduates received an average base salary of $71,096, according to the MBA Career Services Council. Base salary for UW–Madison 2004 MBA graduates, was $72,720.

Williams said that signing bonuses are starting to reappear; 49 percent of the schools surveyed reported an increase in the percentage of students receiving a signing bonus.

At UW–Madison, Sanford reported that 49 percent of the students received signing bonuses averaging $9,666.

For international students, more than 61 percent of the responding schools said international graduates in 2004 found employment in the United States. However, 100 percent of the schools reported that international students had a tougher time getting jobs in the United States than their domestic counterparts.

Sixty-one percent of the schools responding to the survey are public. And 47 percent were ranked in a top-25 business school listing within the past two years.