Corporate hiring plans for 2017 point to robust employment opportunities for Business Masters grads, according to the 2017 Corporate Recruiters Survey Report. In addition, most employers expressed readiness to recruit from Business Masters programmes beyond the traditional ones in management, accounting, or finance.
More employers indicated that this year they would hire graduates of Master in Management and Master of Finance programmes compared with 2016, while demand for Master of Accounting graduates is projected to hold steady.
The Corporate Recruiters Survey, which is published by the Graduate Management Admission Council (GMAC) in partnership with EFMD and MBA Career Services and Employer Alliance (MBA CSEA), provides an overview of the current employer hiring demand for MBA and other Business Masters graduates and examines hiring practices and trends by industry and across world regions. The 2017 survey is based on responses from 959 employers who represent more than 628 companies in 51 countries worldwide.
The following is an overview of the employment prospects for Master in Management, Master of Finance, and Master of Accounting graduates. There is also a section detailing the demand for graduates holding other Masters degrees.
Master in Management
Globally, 59% of companies plan to hire recent Master in Management graduates in 2017, up from 50% that hired them in 2016. The hiring growth is driven by higher demand for these candidates in Asia-Pacific, Europe, and Latin America.
Overall, companies with plans to hire recent Master in Management graduates expect to hire the same number or more compared with 2016. In the United States, 92% of companies that plan to hire Master in Management graduates will increase or maintain the number of such new hires in 2017.
Hiring plans for Master in Management graduates remain fairly steady compared with 2016 among the Fortune 500 and Global 100 companies, and large companies. An increased share of start-ups, family-owned, and small companies also plan to hire from this candidate type, but not to the same extent as for MBAs.
Notably, 70% of manufacturing firms plan to hire recent Master in Management graduates in 2017, up from 50% that hired them in 2016. A majority of consulting firms (64%), and technology companies (59%) also plan to hire these candidates. About 37% of the startups that participated in the survey said they would hire Master in Management graduates in 2017, compared with 24% that hired such graduates.
Master of Accounting
Hiring demand for Master of Accounting graduates is projected to hold steady in 2017 with 42% of respondents reporting plans to hire these graduates compared with 39% that hired them in 2016.
Overall, 89% of companies with plans to hire Master of Accounting graduates will maintain (52%) or increase (37%) the number of these graduates they hire in 2017 compared with 2016.
Companies in Asia-Pacific and Latin America have the greatest demand for recent Master of Accounting graduates. Demand in the United States is expected to be the same as 2016. Fewer European companies plan to hire these candidates this year versus 2016.
Start-up businesses show the greatest growth in demand this year for Master of Accounting graduates, with projected hiring up six percentage points from 2016. By company size, large companies with 1,000 or more employees are the most likely to hire recent Master of Accounting graduates, as are employers in the finance and accounting, manufacturing, and products and services sectors.
Master of Finance
Globally, 48% of employers plan to hire recent Master of Finance graduates in 2017, up from 45% that hired them in 2016. About 33% of companies hiring recent Master of Finance graduates plan to increase the number of graduates they hire this year compared with 2016; 53% will maintain 2016 hiring levels.
Regionally, the strongest employer demand for these candidates is in Latin America, where 71% of respondents report plans in 2017 to hire recent Master of Finance graduates, up from 50% of companies that did so in 2016. Employer hiring plans in Asia-Pacific and the United States are similar to 2016, though companies in Europe indicate a slight decrease in their hiring plans for finance graduates compared with last year.
There is a slight increase in hiring demand among the Fortune Global 100, start-up, and family-owned businesses. By industry, manufacturers have the highest projected increase in hiring demand for these candidates in 2017. The finance and accounting sector has the greatest overall need for this candidate type, with 59% of employers planning to hire Master of Finance graduates.
Other Masters degrees
However, hiring is not limited to just these three Business Masters programmes. The majority of employers target candidates from other Masters programmes such as Data Analytics, Supply Chain Management, Risk Management, Public Administration, and others to fill hiring needs, according to the 2017 Corporate Recruiters Survey Report.
Globally, 71% of employers recruit from other Business Masters programmes beyond traditional programmes in management, accounting, or finance.
Graduates of Master in Marketing programmes are the most commonly recruited by Asian companies. Candidates with degrees in Data Analytics are sought most often by European and US employers. In Latin America, Supply Chain Management is the top programme targeted for recruitment.
By industry, candidates from Master in Data Analytics programmes are the top talent sought by employers in the consulting, finance and accounting, and health care industries.
Energy and utilities and manufacturing companies seek candidates from Supply Chain Management programmes. Technology companies seek talent from Information/Systems programmes, non-profit and government sector employers seek Public Administration graduates, and the products and services industry seeks talent from Marketing programmes.
GMAC provides median salary information only for the US. In 2017, the projected median base salary for recent Master in Management graduates in the US is USD 92,500, compared with USD 75,000 in 2016. The significant difference partially results from the inclusion of a greater share of consulting firms and large companies, which typically offer a higher pay scale for new hires.
Median base salaries for other Masters degree recipients in the United States will range from USD 70,000 (Master of Accounting) to USD 95,000 (Master in Marketing).