Employers Target More Jobs for MBA Grads

Employers plan to boost the number of new MBAs they hire in 2007 and are reporting less interest in people with only undergraduate degrees, according to research released last week from the Graduate Management Admission Council, an international association of business schools.

Poll findings are based on responses from 1,382 corporate recruiters representing 1,029 companies. On average, corporate recruiters expect to hire 18 percent more workers with MBAs and other graduate-business degrees this year than they did in 2006, according to the survey. The increase matches the 18 percent jump in MBA hiring recruiters projected in last year’s survey.

Advanced-degree holders in other areas also stand to benefit from companies' revved-up efforts to attract a more highly educated workforce. About 16 percent more jobs are planned for those with advanced degrees in disciplines other than business. As a result, company recruiters said they plan to trim the number of jobs for people completing undergraduate degrees this year by more than 7 percent.

The poll also showed that companies value the expertise in managing corporate strategy and motivating teams of workers that MBA students develop during their studies, and are willing to pay for it.

According to the survey, MBA graduates will be offered a 28 percent higher base salary than other new hires with graduate degrees in other disciplines, up from the 23 percent increase reported in 2006. And MBA graduates and other high-level business graduates will be offered a whopping 84 percent more in salary than those with bachelor's degrees.

Yet, this year's college graduates need not despair too much. As we reported in our April 4 blog, a recent Monster survey showed that 76 percent of the 1,000 employers it polled plan to hire new college grads. And our May 8 blog touches on another survey that shows what company recruiters are looking for in new college grads.

Recruiters who answered the GMAC survey represent 149 of the Fortune 500 companies and 109 of the Fortune Global 500 companies.

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