The Alumni Perspectives Survey 2018 by the Graduate Management Admission Council (GMAC) has revealed that the MBA degree continues to maintain its value with good career outcomes while both the cohort and the programs were becoming more and more international.
The Survey covered 10,882 alumni worldwide representing 274 institutions and a wide range of programs. The first part deals with the Value of a Graduate Management Education. The respondents were asked about value perceptions, retrospective decisions, career preparations, hiring intentions and recommendation intentions.
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While 79% of the alumni rated the value of their graduate management education as outstanding or excellent, Just 4% marked it fair or poor. The overall value was stated to be a professionally rewarding experience.
An overwhelming 93% of alumni said they would still pursue an MBA. A financially rewarding experience was the main reason for the alumni’s retrospective decision.
Alumni who graduated in 2016 or 2017 reported that an average 48% of their coursework had an international focus, compared with just 14% for alumni who graduated in 1990 or earlier.
Different program types provide varying levels of specific value to graduates. Full-time MBA alumni were in most agreement that graduate education increased their earnings power. Professional MBA alumni were most in agreement that their education prepared them for leadership positions.
Nearly all the respondents (95%) stated that they would recruit students from the alma mater for any job opening at their organization.
The B-School International Education Report, the second in a series, presents the survey findings associated with alumni employment, including employment status, entrepreneurship, industry, job function and salary. It also has detailed data for eight industries, including products/services, technology, finance/accounting and consulting.
Overall, recent alumni are more likely than earlier ones to report studying abroad and travelling internationally as a part of their business school experience.
Among those who graduated in 2016 or 2017, 43% were international students, compared to just 6% who graduated in 1990 or earlier.
Fifty-nine percent of alumni who graduated in 2016 or 2017 reported their business school classes as being very diverse internationally, compared with just 9% of alumni who graduated in 1990 or earlier. Recent alumni report more frequent and higher quality interactions with international students as a part of their business school experience.
Alumni who graduated in 2016 or 2017 reported that an average 48% of their coursework had an international focus, compared with just 14% for alumni who graduated in 1990 or earlier.
The survey found that Business school alumni who had a more internationally-oriented curriculum tend to report stronger career outcomes. For instance, alumni who strongly agree that they have received more promotions than peers without their degree report that an average of 40% of their curriculum had an international focus. Alumni who strongly disagree report an average of 34%t of their curriculum had an international focus.
International and domestic alumni alike rate the value of their graduate management education highly and express satisfaction with their educational experience. Knowing what they know now, more than 9 in 10 international and domestic alumni would still pursue their degree.
According to the Survey, while 79% of the alumni found jobs in companies 10% were self-employed as entrepreneurs. Interestingly, the rate of entrepreneurship among alumni increases with years removed from graduation.
Recent alumni were more likely than earlier ones to work in the technology and products/services industries. Earlier alumni are more likely to be in the finance/accounting and consulting industries.
The majority felt that their graduate management education had advanced their careers at a faster rate compared with peers who had not gone to business school. The median base salary among alumni was reported to be $115,000, with variation by job level and location.
The top industries that employed them included products/services (20%), technology (17%) and finance/accounting (15%). The most common job functions included general management (24%), finance/accounting (21%) and marketing/sales (18%).