Earning more, climbing higher in executive ranks and better job satisfaction are just some of the key benefits of graduate business education, according to the Graduate Management Admission Council (GMAC)‘s 2015 Alumni Perspectives Survey Report.
GMAC surveyed more than 12,000 graduate business school alumni from more than 230 graduate business programs across 71 universities in 19 locations around the world. The results provided a global snapshot of career progression and employment for alumni representing the classes of 1959 through to 2014.
With an overwhelming endorsement of graduate business education, alumni not only believe their education was a driving force in their professional progression but also noted how their engagement with their business school alumni associations were also contributing factors to their future success.
President and CEO of GMAC Sangeet Chowfla believed the results were an accurate refection of how business school education can help students face the challenges in the highly competitive business world.
“Graduate management degree-holders consistently tell GMAC their education is a solid investment and a spur to personal, professional and financial achievement, even in up-and-down economies,” said Chowfla.
“A graduate management education isn’t just a degree, it’s a career catalyst,” he said.
Conducted throughout October and November 2014, the survey provided an insight into investment value that graduates place on their degree. Results showed that alumni believed that an MBA or other graduate management degree, such as a Masters in Management, Accounting or Finance, were a strong educational investment. Results showed that 95% of alumni rated their education as good to outstanding, with 93% willing to recommend their graduate business program to others.
Key Findings:
Career Progression
- The majority of business school graduates held senior-level positions or higher five years after graduation. At 10 years, 25% are in executive-level positions and 5% are in the “c-suite” (e.g. CEO, CFO, COO).
Higher Earnings & Purchasing Power
- 90% of alumni say their graduate education increased their earnings power; 79% believe their salary is competitive by industry standards; and 75% say they are paid fairly for the work they do.
Job Satisfaction
- The majority of alumni report higher levels of job satisfaction and credit their graduate management education for preparing them for their careers and for accelerating the pace of their career advancement.
For more survey findings and to download the entire GMAC report download here.
