The MBA is Still a Game-Changing Qualification
The results of the Graduate Management Admission Council’s (GMAC) 2018 Alumni Perspectives Survey are out, and it’s clear that the MBA holds as much value as ever. At least, that’s the opinion held by 96% of alumni from 274 business schools across the globe who reflected on their graduate management education as a worthwhile investment of time, money and effort.
The survey of almost 11,000 MBA and business master’s graduates is one of the most widely cited and in the industry. Conducted yearly as a part of GMAC’s Research Survey Series, it reflects on the experiences of a diverse group of graduates, helping future students determine whether a postgraduate business degree would be valuable for them.
So, if you’re an MBA student or are considering pursuing the degree, read on to learn of the key findings from this year’s GMAC report.
The quality of education is high
Levels of satisfaction among MBA alumni worldwide is extremely high, with 80% rating the quality of their education as excellent or outstanding, and only 4% of business school graduates giving it a fair or poor rating.
Nearly all responding alumni (95%) would also happily recruit a student from their school for a job opening. That’s a further indication of their connection to their institution, how they value their education and the relevance of it among today’s workforce.
Almost every graduate would do it again
Well over 90% of all MBA graduates would undertake the degree again, knowing what they know now about the benefits of an MBA. The earlier they graduated, the more likely they are to agree that they would do it again: 95% for those who graduated between 1990 and 2005 as compared to 91% for the 2016-17 graduating class. That implies that the value of the degree doesn’t ‘wear off’ after the first few years, but keeps on giving back to the graduate over time.
GMAC: The Value of a Graduate Management Education
When surveyed, 89% of respondents said that they thought their postgraduate business degree was professionally rewarding. But even amongst those who didn’t feel that the MBA directly helped them professionally, they still found value in the course: a huge 94% of respondents said that they found it personally rewarding. This talks to the value of taking on a challenge like the MBA and the personal qualities that are developed as a result.
Alumni regularly progress to senior positions
While recent alumni are likely to be working in mid-level positions, those who graduated earlier can be found in senior, executive and c-suite positions. Unsurprisingly, the more years that have passed since the MBA, the more senior the position. For example, of graduates who obtained their qualification between 1996 and 2000, 34% are in senior positions, 29% in executive positions and 14% are in the C-Suite. That’s a strong indication of the MBA’s value over time and the longevity of the credibility it holds.
GMAC: B-School Alumni Employment Report
Across all respondents, 87% indicated that the skills they developed during their postgraduate business degrees helped with, and 64% said they wouldn’t have obtained their current job without it.
Almost all alumni are experiencing favourable ROI
Turning to employment findings, 95% of surveyed MBA alumni are currently employed: 84% work for a company and the remaining 11% are self-employed entrepreneurs. The most common job functions among MBA graduates are general management (25%), finance/accounting (19%), and marketing/sales (19%).
Unsurprisingly, recent alumni are more likely to be working within the technology field (17% of respondents) than those who completed their degrees last decade or before. Earlier alumni are more likely to work in finance/accounting and consulting.
Closer to home, AIB’s 2017 Alumni Insights Survey found the average annual income of Australian AIB MBA graduates to be $136,800.
Keen to explore the findings from these studies in more detail? View the reports via the following links:
- GMAC 2018 Alumni Perspectives Survey: The Value of a Graduate Management Education
- GMAC 2018 Alumni Perspectives Survey: B-School Alumni Employment Report
- AIB 2017 Alumni Insights Report
The MBA from AIB is Australia’s largest MBA, chosen by more professionals than any other MBA degree in the country. It has been specifically designed for busy working adults, delivered 100% online through our interactive Student Learning Portal. The AIB MBA offers genuine flexibility, industry-relevant course content and the practical knowledge and skills you need to achieve your career goals.