MBA grads beat global peers in salary hikes
MBA graduates in India have shown a ‘ more handsome’ salary growth and better job market as compared to their global peers, according to a study released on Monday.Updated: Aug 06, 2013 03:15 IST
MBA graduates in India have shown a ‘ more handsome’ salary growth and better job market as compared to their global peers, according to a study released on Monday.
According to the survey done exclusively for India by the global body Graduate Management Admission Council (GMAC) there has been a 122% annual change in salary pre to post degree for the two-year full timers MBA.
For the one year post graduate programme the salary growth was 88%.
The GMAC owns the Graduate Management Admission Test (GMAT), a standardized assessment that is widely used by graduate business administration programs.
The study titled - India Management Graduates Survey: Class 2013 was done among 553 graduates at 18 business schools in India including the Indian School of Business and three IIMs.
“The salary increase of 122% reflects the anticipated earnings change from pre- to post-degree salary. This figure is greater than the percentage change in salary seen by global peers for full-time two-year MBAs, increasing annual base salary by 79% for the class of 2013,” Michelle Sparkman Renz, Director, Research Communications, GMAC told HT.
Another important finding was that nearly 75% of all job -seeking management students in India had received a job offer by mid March 2013. Renz, however, said that these figures varied according to factors like programme, type and location.
“The results for India indicate a healthier job market from the overall global picture, but let us not make any historical comparisons at this time,” he said.
The class of 2013 graduates send a median number of seven resumes for a yield of four interviews and one job offer per graduate.
The report also added that more than 80% of the MBA graduates felt their course had given them a competitive edge in the job market.