Corporate Recruiters’ Survey Reveals Rising Demand for MBAs

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Employer demand for MBAs, down 5 percent in 2009, showed remarkable resurgence in 2010, increasing 24 percent amid an otherwise sluggish global economic recovery, according to a recent corporate recruiters’ survey.

The New York Timesyesterday reported results of the survey, published this month by education and study abroad company Quacquarelli Symonds. Demand for MBA graduates swelled most in emerging countries like China and India, the survey revealed. Indeed, MBA recruitment rose a whopping 32 percent in the Asia-Pacific region this year against more modest gains in North America (9 percent) and Europe (3 percent), where companies reduced overall hiring in response to the recession, the Times reports.

Nunzio Quacquarelli, managing director of Quacquarelli Symonds, noted a strong link between MBA demand among employers and the strength of the global economy. “In recent years, a growing number of companies around the world have seen a top MBA as an essential management entry-level qualification,” he told the Times.

Through its survey of more than 2,000 company recruiters, Quacquarelli Symonds compiled a list of the top 200 business schools worldwide for salaries, identifying interesting industry shifts in the process, the Times reports.

Among the most notable: MBAs recruited by pharmaceutical companies are now the highest paid of the lot, earning an average of $92,274, followed by those in financial services, with average pay of $90,926. Overall, MBA graduates received an average salary of $87,500 in 2010, even as some other university graduates struggled to find jobs, according to the Times report.

In terms of average salaries for their graduates, European schools accounted for eight of the survey’s top 10. Graduates from Ashridge Business School, near London, had an average salary of $169,050, followed by those from Vlerick Leuven Gent Management School in Belgium, with an average salary of $140,000. The Hong Kong University of Science and Technology and Duke University’s Fuqua School of Business were the only two schools outside Europe to make the top 10 list.

A ranking of the schools according to the preferences of the employers surveyed, however, revealed that the MBA graduates most valued by recruiters were not necessarily the highest paid. Recruiters cited Harvard, the Wharton School at the University of Pennsylvania, INSEAD and the London Business School as the schools from which they most preferred to draw MBA graduates.

According to Quacquarelli Symonds, the explanation for why the most highly sought graduates are not necessarily the most highly paid has to do with how much work experience graduates had before entering a given MBA program.

“Ashridge recruits those with more work experience,” Quacquarelli told the Times. “Employers take into the account the depth of work experience, and so they are moving into more senior positions. An MBA at Ashridge is more akin to an executive MBA,” he said.

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