New MBAs face difficult job market in the USA

Posted on May 21, 2011

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Joe Light, The Wall Street Journal

The job market for business- school students is better than last year, but still isn’t back to pre-recession levels, says Nicole Hall, president of the MBA Career Services Council, a professional association.

Driving the pickup is more robust recruiting by companies in health care, energy and technology, she says. Yet compared with a few years ago, a smaller percentage of students are getting multiple offers, and companies are recruiting closer to home to save money. That has led candidates to be more open to employers they might not have otherwise considered.

Lingering weakness means some graduates from the class of 2010 still hadn’t found jobs a few months after graduating.

According to a September survey of 824 business-school graduates from around the world, 88% of M.B.A. and other graduate management alumni from the class of 2010 had a job, a slight increase from 84% of the class of 2009 a year earlier, according to the Graduate Management Admission Council.

Starting pay rose to a median of $78,820 this year from $75,000 for the class of 2009, according to the Graduate Management Admission Council survey.  [Please click here to read the remainder of this article.}

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