NEW DELHI: 2015 is expected to usher in good news for management graduates. Right from increased hiring to salary increase above the rate of inflation are some of the key highlights predicted by an employers’ poll conducted based on the year-end poll of employers 2014.
While 88% of employers planning to hire MBA are expected to hire as many as or more than they did in 2014, more than half of employers (ranging from 54% to 74%) plan to increase starting annual base salaries in 2015 at or above rate of inflation for new MBAs and business master’s hires.
The poll was conducted by the Graduate Management Admission Council (GMAC) which conducts the GMAT for admission to 6,100 graduate management programmes globally where 169 employers from across 34 countries participated.
According to the report, which is forwarding a 2015 outlook based on 2014 actual hiring and salary packages stated that the positive prediction is based on the fact that “Unlike recent post-recessionary years when many countries were preoccupied with efforts to overcome financial challenges, the majority of companies represented in the 2014 poll are focused on expansion plans and growth, enabling more companies to hire – and even increase their hiring goals.”
Compensation for packages for new business graduates is also expected to rise, as most companies are planning to increase base salaries at or above the rate of inflation.
The highlights of the report is that with the hiring plans to remain steady, nine out of 10 employers is expected to maintain or increase the number of job openings in 2015 as compared to 2014. And 72% employers are expected to hire MBAs in 2015 as compared to 69% in 2014.
Even in 2014 majority of the employers, 80%, reported that they met or exceeded hiring goals for recent MBA graduates, which is likely to touch 88% in 2015. Even for other non-MBA master’s programme like management, accounting, finance and specialized business master’s 74% to 79% have met or exceeded their hiring goals in 2014 thus making 2015 even rosier.
The positive outlook will also be felt in the internship programmes as 55% of the employers are expected to offer internship opportunities for graduate business students. As per the GMAC report, 83% of the employers plan to offer internships to students, mostly to common bachelor’s graduates (73%) in 2015.
However, even for those pursuing MBA 55% of the employers will offer internships. In fact 16% of the employers are planning to expand their internship programmes for MBA candidates in 2015, while 33% will maintain their numbers at 2014 level.