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Global Management
Education Graduate Survey

2015
SURVEY REPORT
About This Study
The Global Management Education Graduate Survey is a product of the Graduate
Management Admission Council (GMAC), a global nonprofit education organization
of leading graduate business schools and the owner of the Graduate Management
Admission Test (GMAT). The GMAT exam is an important part of the admissions
process for more than 6,100 graduate management programs around the world.
GMAC is dedicated to creating access to and disseminating information about
graduate management education; these schools and others rely on the Council as the
premier provider of reliable data about the graduate management education industry.

School Signup Open for GMAC Survey Research Series

Visit gmac.com/surveysignup today to include your school in GMACs annual
research studies of graduates, alumni, employers, and school professionals. Signup for
all GMAC surveys continues year-round. Benefits of participation include service to
industry, pre-release of benchmark reports, and access to interactive online research
tools, as described below.

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GMAC now offers graduate business schools the opportunity to partner with its
research staff in the development of customized research projects, utilizing GMACs
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GMAC Research Services Department at [email protected].

Accompanying Data
Two interactive online tools accompany this summary report of the Global
Management Education Graduate Survey, a benefit that GMAC offers exclusively to
schools that participate in the study. The Interactive Online Research Tool1 lets users
examine responses for each survey item in greater depth and conduct customized
data searches by demographic variables of their own choosing. In addition,
customizable Benchmark Reports offer an opportunity for participating schools to
compare their student responses against aggregated responses from peer schools.

This summary report and a list of participating institutions are publicly available at
gmac.com/globalgrads.

The Interactive Research Tool is best viewed in Internet Explorer 10+, Google Chrome, Safari, or iOS browsers.
1
Contents
Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4

Key Findings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4

The Employment Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6

New Hires . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6

Continuing Employment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

Entrepreneurs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

The Job Search . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13

Changes in Compensation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16

Graduate Management Education Evaluated . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18

Program Evaluation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18

Key Drivers of Overall Value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21

Learning Environment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21

Development of Knowledge, Skills, and Abilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22

Integrated Reasoning Skills . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24

Concluding Note . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25

Methodology . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25

How to Participate in the Survey . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25

Contact Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27

Contributors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27

Acknowledgements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27

2015 Graduate Management Admission Council (GMAC). All rights reserved.

4 2015 Global Management Education Graduate Survey Report

Introduction Key Findings

Since 2000, the Graduate Management Admission Council
(GMAC) has reached out annually to graduate schools The employment outlook for business school
of business worldwide to provide an early view of the graduates remains strong in 2015.
job search efforts and career plans of their soon-to-be n More than half (59%) of job-seeking graduate business
graduating class. The 2015 Global Management Education students in the class of 2015 report receiving an early
Graduate Survey, administered February through March job offer prior to graduation. A greater proportion
2015, gathered responses from 3,329 graduate management of graduates in full-time two-year MBA programs
students in the class of 2015 at 112 universities in 29 and masters programs in accounting, finance, and
countries,2 representing 106 citizenship groups. The vast management have early job offers compared with
majority of survey respondents (76%) will graduate from an students graduating from these same programs in 2014.
MBA program, 3 percent will graduate from a Postgraduate
Programme (PGP),3 and the remaining will graduate Domestic
n  students in 2015 were more likely to receive
from specialized business masters (non-MBA) programs, an early job offer than international students. Some 70
including Master in Management (5%), Master of Accounting percent of domestic students have an early job offer
(4%), and Master of Finance (4%). Their responses form compared with 42 percent of international students.4
the basis of data analysis in this report, and reflect their Even so, more international students are having early job
employment status at the time of this survey, which was search success this year compared with 2014, when 39
conducted approximately three months prior to graduation. percent of international students received early job offers.

Survey topics featured in this report include: n Among class of 2015 graduates receiving an early job
offer, more than half (52%) accepted mid-level positions,
Hiring
n  and job search success for the class of 2015, 18 percent accepted senior-level positions, and 27
including the percentage of students with early percent accepted entry-level positions. Overall, more
job offers (pre-graduation), expected work location, than one-third (37%) of this years job-seeking graduates
salaries, industries, job functions, and job levels; will advance to a higher-level job after graduation.
n Students evaluation of their management education n The top job search methods used by job-seeking
and value of their degrees; and graduates in 2015 include applying directly to companies
n The learning environment, including students preferred (59%), networking with classmates and alumni (57%),
teaching methods and skill development. online job search sites (53%), career services (52%), and
school job boards (51%). The methods with the highest
success rate (yielding the most job offers), however, are
internships or work projects (50% success rate), working
with career services (48% success rate), and school job
boards (38% success rate).

2
The 29 countries represented by participating business schools are located in the following world regions: Asia-Pacific (Australia, China, Malaysia, Philippines, South
Korea, and Taiwan), Canada (Canada), Central Asia (India), Europe (Austria, Belgium, France, Hungary, Italy, Portugal, Spain, and the United Kingdom), Latin America
(Brazil, Costa Rica, Ecuador, Mexico, and Venezuela), Middle East/Africa (Jordan, Kenya, Lebanon, Morocco, Nigeria, South Africa, and Turkey), and the United States
(United States).
3
Postgraduate Programme (PGP) is the Indian version of the MBA, offered in two-year and one-year formats.
4
For definitions of the terms domestic and international see page 6.

2015 Graduate Management Admission Council (GMAC). All rights reserved.

 2015 Global Management Education Graduate Survey Report 5

n Class of 2015 graduates who are continuing their current n Analysis shows that program structure, curriculum, and
employment anticipate an increase in salary (47% of faculty are the primary influencers of value ratings that
respondents), increase in job responsibilities (46%), a graduates give their programs.
promotion (39%), and/or change in job title (33%) as a
result of their newly earned degree. Compared with 2014, n On average, respondents report that they receive
a greater percentage of business graduates continuing instruction through team projects 23 percent of the
their current employment anticipate promotions and time, a blend of lecture and discussion 23 percent of the
increases in budgetary authority. time, case studies 23 percent of the time, pure lecture 22
percent of the time, and experiential learning 10 percent
n Five percent of class of 2015 graduates intend to pursue of the time, although this varies by program type.
entrepreneurial careers. Among this group, 42 percent
were self-employed prior to business school, 25 percent n Blends of lecture and discussion (30%), case studies
started a business while in school, and 33 percent plan to (27%), and experiential learning (24%) are the most
start a business after graduation. preferred instructional methods. Pure lectures, on the
other hand, are a commonly used method but preferred
n Globally, business school graduates accepting early by just a small percentage (5%) of students.
job offers report a median post-degree salary increase
of 90 percent over their pre-degree salary, which is up n Class of 2015 graduates report that the knowledge,
noticeably from the median salary increase of 80 percent skills, and abilities (KSAs) they most improved as a
seen in 2014 and 73 percent in 2013. result of their graduate management education include
general business knowledge; managing decision-making
processes; learning, motivation, and leadership; and
Business school graduates value the return on managing strategy and innovation.
investment for graduate management education.
n Approximately 4 in 5 business school graduates indicate
Their evaluation of their programs is influenced
by a variety of factors. integrated reasoning skills are incorporated into their
program often to all of the time.
n Nine in 10 (89%) graduates of the class of 2015 rate
the value of their business degree as good to
outstanding and a similar percentage (88%) would
recommend their program to others considering a
graduate management degree.
n Class of 2015 graduates feel their graduate
management education was successful in increasing
their employability. A majority of graduates agree their
education improved their chances of finding a job that
met their expectations (86%), gave them a competitive
advantage in the job market (85%), and prepared them
to meet the challenges of todays job market (85%).
Most graduates also agree their graduate management
education gave them control over their employment
outcomes (82%) and exposed them to new career
opportunities (78%).

2015 Graduate Management Admission Council (GMAC). All rights reserved.

6 2015 Global Management Education Graduate Survey Report

The Employment Report full-time one-year MBA programs attend business schools
located in Europe. The decline in the share of these
graduates with job offers may likely be a result of the
Individuals pursue graduate management education limited economic growth that has hampered job creation
primarily to increase their career opportunities. The 2015 within the European economy.6
Global Management Education Graduate Survey Report
provides an overview of the various career paths that Table 2, which shows the regional trend in the proportion
class of 2015 graduate business students intend to follow of MBA graduates with job offers, also supports the
post-graduation. Some are seeking to enhance their employment challenges facing business school graduates
current career, others are looking to switch to a different in Europe. The share of job-seeking graduates of European
career entirely, and a few intend to pursue entrepreneurial MBA programs who received early job offers decreased
careers. At the time of this survey (February through from 56 percent in 2014 to 41 percent in 2015, whereas the
March 2015), 33 percent of students had new job offers, percentage of MBA students with job offers who are about
33 percent were continuing their current employment, to graduate this year from MBA programs in the United
23 percent were still seeking employment, 5 percent were States, Canada, and Asia-Pacific is significantly higher
planning to become entrepreneurs, and 1 percent were compared with 2014 (63%, 54%, and 48%, respectively).
involved in internships. Five percent were not employed
and were not currently seeking employment.
Domestic and International Job Seekers
One main determinant of early job search success for
business school graduates is their status either as a
New Hires domestic student or an international student. International
More than half (59%) of class of 2015 graduates seeking students studying at schools located outside their country
jobs were successful in receiving an early job offer, relatively of citizenship who plan to work outside their home country
on par with last years figure of 57 percent, although this have the added challenge of obtaining work permits and
varies by program type. Table 1 shows the percentage of visas. International students who are studying abroad but
business school graduates with early job offers by program planning to seek employment back in their home country
type. Nearly two-thirds (63%) of graduates in full-time two- also face barriers interviewing for jobs given the distance
year MBA programs received an early job offer, compared and travel costs involved.
with 60 percent of their peers from 2014. Graduates from Globally, domestic students are more likely than
several specialized business masters programs experienced international students to receive an early job offer (70% of
a high degree of early job search success this year in domestic students seeking jobs reported an early job offer
comparison with 2014, including: compared with 42% of job-seeking international students).
n Master of Accounting: 89 percent of job seekers had early This finding is also true when viewed across world regions
job offers (up from 77% in 2014), (Figure 1). Despite the greater difficulty international
students experience finding jobs due to the reasons cited
n Master of Finance: 53 percent of job seekers had early above, more international students are having success in
offers (up from 30% in 2014), and the job search compared with last year. In 2014, 39 percent
n Master in Management: 59% of job seekers received early of international business students had an early job offer
compared with 42 percent this year.
job offers (up from 38% in 2014).

Two-thirds of job seekers from part-time/flexible MBA

programs (68%) received pre-graduation employment
offers, which is on par with last year.5 The job offer rate As used in this report, the term domestic student
for recent graduates of full-time one-year MBA programs, refers to students attending school within their
however, continues to decline for the third year in a row, country of citizenship. An international student
with only 1 in 3 (36%) graduates reporting an early job refers to individuals who are either studying outside
offer in 2015. This represents a 24 percentage-point their country of citizenship, and/or who seek to work
decline compared with 2012, when the percentage of these in a location outside their country of citizenship.
students with early job offers was at a five-year peak.
Forty-three percent of job-seeking graduates enrolled in

5
Only one-third of graduates from part-time/flexible MBA programs were seeking employment after graduation. The majority (77%) planned to continue their current
employment after earning their degree. See Figure 2 on page 10.
6
European Commission (2015). Winter economic forecast: Outlook improved but risks remain. Retrieved on April 24, 2015 from http://ec.europa.eu/economy_finance/
eu/forecasts/2015_winter_forecast_en.htm.

2015 Graduate Management Admission Council (GMAC). All rights reserved.

 2015 Global Management Education Graduate Survey Report 7

Table 1. Job Seekers (%) With a Job Offer, by Program Length & Graduation Year (Global), 2010 to 2015

2010 2011 2012 2013 2014 2015

Full-time two-year MBA* 40% 57% 64% 61% 60% 63%
Full-time one-year MBA* 27% 45% 60% 53% 45% 36%
Part-time/Flexible MBA 22% 55% 67% 67% 68% 68%
Postgraduate Program (PGP) 79% 91% 86%
Master of Accounting 66% 70% 65% 76% 77% 89%
Master of Finance 26% 40% 42% 34% 30% 53%
Master in Management 28% 35% 59% 43% 38% 59%
*Program length categorized as full-time two-year MBA ( 19 months) and full-time one-year MBA (< 19 months).
Source: Data for 2010 through 2014 reflect job offer outcomes as reported in Global Management Education Graduate Survey findings for those years.
Data for 2015 are from the 2015 Global Management Education Graduate Survey.

Table 2. All MBA* Job Seekers (%) With a Job Offer, by Graduation Year & School Location

2010 2011 2012 2013 2014 2015

All MBA programs (global) 32% 53% 63% 59% 53% 55%
US MBA programs 33% 53% 60% 60% 57% 63%
Canadian MBA programs 37% 54%
European MBA programs 32% 47% 54% 57% 56% 41%
Asia- Pacific MBA programs 34% 48%
*Includes all full-time, part-time/flexible, executive, and online MBA programs combined.
See Footnote 2 for a list of countries or regions represented by participating business schools that are located in Europe and Asia-Pacific.
Source: Data for 2010 through 2014 reflect job offer outcomes as reported in Global Management Education Graduate Survey findings for those years.
Data for 2015 are from the 2015 Global Management Education Graduate Survey.

Figure 1. Percentage of Job Seekers with Job Offers, by School Location & Citizenship

Domestic students International students

100%
88%
Percentage of respondents

80%
72%
66%
62% 61%
60%
52%
49% 47%
44%
39% 39%
40%

24%
20%

0%
Middle East/ Asia- Canada Europe India* Latin United
Africa* Pacific Islands America States

*Domestic students only are shown for Middle East/Africa and India, since they represent 96 percent and 100 percent of survey respondents, respectively.
Source: GMAC (2015) Global Management Education Graduate Survey.

2015 Graduate Management Admission Council (GMAC). All rights reserved.

8 2015 Global Management Education Graduate Survey Report

Industries of Employment Table 3 displays the industries where graduating business

Globally, job-seeking graduates in the class of 2015 students accepted early job offers in 2015, both globally
received early job offers in the following industries: and by specific demographics. Men are more likely than
women to accept job offers in technology (14% vs. 8%) and
n Finance and accounting (28% of respondents),
manufacturing (8% vs. 4%). Women are more likely than
n  onsulting (21%),
C men to accept job offers in the government and nonprofit
n  roducts and services (19%),
P sectors (6% vs. 3%). Domestic students are more likely than
n  echnology (12%),
T international students to accept jobs in health care (6% vs.
n  anufacturing (7%),
M 3% international) and government (5% vs. 2%), whereas
n Health care (5%), international students are more likely to accept positions in
n Energy and utilities (4%), and the consulting industry (29% vs. 18% domestic).
n Government and nonprofit (4%).

Table 3. Post-Degree Industry, by Demographic Status & Program Type (% of Graduates with Early Job Offers)

Industry

Manufacturing

Government/
Health Care

Technology
Accounting
Consulting

Products/
Nonprofit
Finance/

Services
Energy/
Utilities

Demographic Status
& Program Type

Global 21% 4% 28% 5% 12% 7% 4% 19%

Men 21% 4% 27% 5% 14% 8% 3% 18%

Women 20% 3% 32% 5% 8% 4% 6% 21%

Domestic student 18% 4% 28% 6% 12% 8% 5% 20%

International student 29% 2% 31% 3% 13% 5% 2% 16%

Same industry as before degree 14% 3% 29% 5% 13% 7% 7% 24%

Switching industry 27% 5% 20% 6% 15% 9% 3% 16%

Full Time 2-Year MBA 22% 3% 24% 6% 14% 10% 3% 19%

Full Time 1-Year MBA 19% 7% 26% 3% 9% 7% 7% 23%
Part-time/Flexible MBA 17% 5% 14% 13% 14% 5% 6% 26%
Postgraduate Programme (PGP) 29% 5% 16% 8% 22% 5% 3% 13%
Master of Accounting 4% 0% 92% 0% 0% 1% 2% 1%
Master of Finance 27% 0% 56% 2% 0% 0% 2% 13%
Master in Management 28% 1% 25% 1% 13% 7% 6% 19%
*Percentages in rows may not sum to 100 due to rounding.
Source: GMAC (2015) Global Management Education Graduate Survey.

2015 Graduate Management Admission Council (GMAC). All rights reserved.

 2015 Global Management Education Graduate Survey Report 9

Three in 5 graduates (61%) who were employed before logistics (34% and 20%), and general management (24%
enrolling in their graduate management program accepted and 16%). The greatest percentage of graduates accepted
a post-degree job offer in a different industry. Those human resources positions in the consulting (26%) and
switching industries are more likely to accept job offers in products and services industries (19%). The highest share
the consulting sector (27%) compared with those staying in of graduates accepting IT/MIS positions will be working in
the same industry (14%). In contrast to graduates of other the technology (47%), consulting (22%), and products and
business degree programs, graduates of masters programs services (19%) sectors.
in accounting and finance were the most likely to accept
positions in the finance and accounting sector (92% and
56% of graduates, respectively). Job Levels
Globally, among job-seeking graduates who received an
early job offer, more than half (52%) accepted mid-level
Job Functions positions, one-fifth (18%) accepted senior-level positions,
Globally, positions in finance and accounting (35%) and and one-fourth (27%) accepted entry-level positions. Three-
consulting (21%) are top job functions for which graduates fourths (77%) of job-seeking graduates were previously
accepted early job offers in 2015, followed by marketing employed. Among this group, more than one-third (37%)
and sales (17%) and general management (12%), similar will move into a higher-level job after graduation. Of the
to last year. More than half (55%) of this years graduates 28 percent of graduates who previously worked in an
accepted a position in a different functional role than entry-level position, the majority (72%) accepted offers
the one in which they were previously employed. Those for higher-level positions. In comparison, among the 55
switching job functions are most likely to accept offers for percent of students who previously worked at mid-level
consulting positions (33%) and finance and accounting jobs, 65 percent accepted offers for mid-level post-degree
(23%) functions. jobs, and 27 percent accepted senior- or executive-level
positions. Of the students who previously held senior- or
Table 4 shows the distribution of early job offers that
executive-level positions (13%) before earning their degree,
this years graduates have accepted within each industry
32 percent accepted offers for mid-level positions and
by functional area. Compared with other industries, the
the majority accepted offers for senior-level (44%) or
products and services and technology sectors yielded the
executive-level (19%) positions (Table 5).
greatest percentage of job offers in marketing and sales
(42% and 20% of graduates, respectively), operations and

Table 4. Job Functions Across Industries (% of Graduates With Early Job Offers)

Job Functions
Marketing/ Operations/ General Finance/ Human
Consulting IT/MIS
Industry Sales Logistics Management Accounting Resources
Consulting 7% 7% 75% 12% 4% 26% 22%
Energy/utilities 4% 7% 1% 9% 3% 7% 0%
Finance/accounting 7% 6% 3% 8% 72% 4% 6%
Government/nonprofit 4% 4% 3% 6% 2% 15% 3%
Health care 8% 4% 2% 13% 2% 4% 0%
Manufacturing 8% 18% 3% 13% 5% 11% 3%
Products/services 42% 34% 5% 24% 8% 19% 19%
Technology 20% 20% 7% 16% 3% 15% 47%
Total 100% 100% 100% 100% 100% 100% 100%
Source: GMAC (2015) Global Management Education Graduate Survey.

2015 Graduate Management Admission Council (GMAC). All rights reserved.

10 2015 Global Management Education Graduate Survey Report

Approximately half of new hires accepted positions at Continuing Employment

the same job level (49%) held previously, and a few (10%)
accepted a post-degree position at a lower job level than Graduates from programs geared toward working
the one held prior to business school. The majority of professionalspart-time or flexible MBA, executive MBA,
new hires accepting lower-level positions are switching and online MBA programsare the least likely to be
job functions (61%) or industries (70%). Although some involved in a job search and most likely to remain with their
students are accepting new positions at a lower level current employer than students graduating from other
than their previous jobs, its generally not at the expense programs (Figure 2). Anywhere from 75 percent to 88
of salary. On average, the median post-degree salary for percent of these graduates intend to continue their current
graduates accepting lower-level job positions is 78 percent employment after earning their degrees. Among graduates
higher than their pre-degree salaries. Table 5 displays of other MBA and specialized business masters programs,
pre-and post-degree job-level progression for graduating 15 percent or fewer expect to continue working for their
business students who received early job offers this year. current employer: full-time MBA (all formats) and Master

Table 5. Job Progression Among New Hires, by Job Level of Pre-Degree Employment (% of Respondents)*

Post-Degree Job Level

Pre-Degree Job Level Entry Level Mid-Level Senior Level Executive Level
Entry level 28% 64% 8% 0%
Mid-level 8% 65% 26% 1%
Senior/executive level 5% 32% 44% 19%
*Respondents pursuing entrepreneurial careers are not represented in this table due to insufficient sample size.
Percentages in rows may not sum to 100 due to rounding.
Source: GMAC (2015) Global Management Education Graduate Survey.

Figure 2. Percentage of Graduates Planning to Continue Current Employment, by Program Type*

100%

88%

80% 77%
75%
Percentage of respondents

60%

40%

20% 15% 15% 14%

12%
5%

0%
Online PT/Flexible Executive Full-time MFin MAcc MiM PGP
MBA MBA MBA MBA
*Full-time MBA includes two-year and one-year program formats combined. MFin = Master of Finance; MAcc = Master of Accounting;
MiM = Master in Management/International Management; and PGP = Postgraduate Programme.
Source: GMAC (2015) Global Management Education Graduate Survey.

2015 Graduate Management Admission Council (GMAC). All rights reserved.

 2015 Global Management Education Graduate Survey Report 11

of Finance (15% of graduates), Master of Accounting (14%), a key role in this decision. Those who indicate they will
Master in Management (12%), and PGP (5%). explore other opportunities while continuing with their
current employment are less likely to be satisfied with their
Overall, one-third (33%) of class of 2015 graduates
jobs (46%) than those who intend to stay with their current
plan to continue working for their current employer
employer and not explore other opportunities (89%).
after graduation. They are employed across many
industry sectors: Graduates staying with a current employer but planning
n Products and services (24% of graduates), to search for additional job opportunities may also be less
 inance and accounting (17%), optimistic about receiving potential benefits from their
n F
current jobs: 34 percent report they do not foresee any
n  overnment and nonprofit (15%),
G
changes to their current position (e.g., promotions, salary
n  echnology (12%), and
T increase, job title change, etc.) compared with 26 percent
n  ealth care (10%).
H of graduates not exploring other opportunities (Figure 3).
The top functional roles these business graduates will When asked to select the top five job attributes (out of a
fill include finance and accounting (24% of graduates), list of 18 items) they consider most important in relation
operations and logistics (20%), marketing and sales (19%), to their future employment,7 graduates planning to stay
and general management (17%). with their current employers as well as those exploring new
As a result of earning their graduate management degrees, opportunities chose the following (listed in rank order):
graduates who plan to continue their current employment n Total compensation,
anticipate the following post-degree job benefitsall n Challenging and interesting work,
indicators of a more favorable job environment and return n Advancement opportunities,
on investment for graduates: n Opportunities for professional development, and
n Salary increase (47% of graduates), n Emphasis on work-life balance.
n Increase in job responsibilities (46%),
Graduates who are likely to explore other job opportunities,
n  romotion (39%), and
P however, differ slightly in job attributes they considered
n  hange in job title (33%).
C most important. For example, those planning to explore
Compared with 2014, more business graduates continuing other job opportunities while continuing their current
employment are anticipating promotions (39%, up from employment are more focused on work-life balance (40%
32% in 2014) and increases in budgetary authority (13% in vs. 34% ) and geographic location (24% vs. 17%) compared
2015 vs. 9% in 2014), another indicator of a more favorable with those staying with their current employer and not
job environment and return on investment for graduates. seeking new opportunities. On the other hand, those not
seeking other job opportunities beyond their current
Overall, 68 percent of graduates who plan to stay employment value the ability to make an impact (37% vs.
with their current employer after graduating are very 31% seeking other job opportunities), job and company
satisfied/satisfied with their job. Yet, more than half stability (29% vs. 23%), and their companys high ethical
(52%) of business school graduates continuing their standards (17% vs. 12%) as important.
current employment are also likely to explore other job
opportunities. Their degree of job satisfaction likely plays

7
Respondents selected the top five attributes most important to them when considering future employment from the following list: advancement opportunity, total
compensation (competitive salary, benefits package, etc.), company geographic location, job/company stability, fit with company culture, ability to make an impact,
achieving something they personally value, challenging and interesting work, opportunity for professional development, opportunity to learn new things, companys
high ethical standards, company image and reputation, visibility with the executive team, emphasis on work-life balance, flexible schedule, job autonomy, emphasis
on community and inclusion, and opportunity to travel to or work in a foreign country.

2015 Graduate Management Admission Council (GMAC). All rights reserved.

12 2015 Global Management Education Graduate Survey Report

Figure 3. Expected Post-Degree Job Benefits for Graduates Continuing Employment,

by Those Exploring New Opportunities vs. Those Not Exploring

60% Exploring new opportunities Not exploring new opportunities

49% 49%
50%
44% 45%
Percentage of respondents

42%
40%
36% 36% 34%

31%
30%
26%

20%
20%
16% 15%
12%
10% 7% 8%

0%
Increase in Salary Promotion Change in Increase Increase in Cash None
responsibilities increase job title in direct budgetary bonus for of the
reports authority degree above
Source: GMAC (2015) Global Management Education Graduate Survey.

Entrepreneurs Responding students planning to be entrepreneurs

after graduation ranked their graduate management
Five percent of students from the class of 2015 plan to education in terms of how important it was in supporting
pursue entrepreneurial careers after graduation. Among various business development activities. The following
them, 42 percent were self-employed prior to business list shows the rank order of items that they considered
60
school, 25 percent started a business while in school, and most important:8
33 percent plan to start a business after graduation. Almost
n Develop ability to lead my company
half of these self-identified entrepreneurs (46%) will work
(82% of respondents),
in the products
50 and services sector. Other industries where
n Grow my business (81%),
these graduates intend to create new businesses include
consulting (16%), technology (13%), finance and accounting n Develop an idea (77%),
(10%), and health care (7%). n Develop financial projections (75%),
40 n Conduct market or competitor research (74%),
The primary motivators in their decision to pursue an n Write a business plan (70%),
entrepreneurial career remain the same as reported by
n Make contact with potential customers (68%),
past years graduates: passion for what they do (90%),
n Write a marketing plan (68%),
autonomy
30 (86%), revenue potential (81%), flexibility (79%),
and control (78%). n Secure financial resources (67%), and
n Create a human resource plan (61%).

20

10

Increase in Salary Promotion Change in Increase in Increase in Cash bonus None

responsibilities increase job title direct budgetary for degree of the
8
Percentages indicate the proportion of respondents pursuing entrepreneurial careers who ranked each item as very important/important on a five-point scale
ranging from very important to very unimportant.
reports authority above

2015 Graduate Management Admission Council (GMAC). All rights reserved.

 2015 Global Management Education Graduate Survey Report 13

The Job Search job-seeking graduates used five different resources and
search methods to support their job search efforts. The
At the time of this survey, more than half of class of channels they most commonly used include applying
2015 graduates (57%) was actively seeking employment, directly to companies (59% of job seekers ), networking
including those who received or accepted a job offer. with classmates and alumni (57%), online job search sites
Graduates who have the least amount of prior work (53%), working with career services (52%), and school
experience are more likely to be searching for employment job boards (51%; Figure 4). The most commonly used job
than their more seasoned counterparts66 percent of search methods are not necessarily the most successful at
graduates with 5 years or less of prior work experience securing a job offer, however. Job search methods that had
compared with 52 percent with 6 to 10 years of work the highest success rates (i.e., yielded the highest number
experience, and 22 percent with more than 11 years of work of job offers) include internships and work projects (50%
experience. International students are more likely than success rate), career services (48% success rate), and
domestic students to be seeking employment (68% vs. school job boards (38% success rate).
51%, respectively).
As mentioned earlier, domestic students are more likely
During the job search process, class of 2015 graduates to have an early job offer than students studying outside
applied for an average (median) of 10 jobs, and received an their country of citizenship. Although international students
average of three interviews and one job offer. On average,

Figure 4. Job Search Methods Used & Success Rate, Class of 2015

Job search methods used Success rate

70%

60%

50%

40%

30%

20%

10%

0%
ny

ni

es

ds

rs

ily

ip

ia

ns

ch

ad
te

m
ed
um

io
ic

ar

am

a
fa
pa

fir
si

e
ns

co
rv

at
lm
bo

lin
b
m

/f

r
/a

ch
se

ci
te
Jo
jo

on
co

ia

ee
ob
es

so

ar
nd

In
r
e

t/
c
ee
at

ar
to

Se
as
in

lj

So
ie

in
m

C
ar

o
nl

Fr
d

Pr
al
ho
ss

O
lie

on
la

Sc
pp

si
C

es
A

of
Pr

Source: GMAC (2015) Global Management Education Graduate Survey.

70
2015 Graduate Management Admission Council (GMAC). All rights reserved.
14 2015 Global Management Education Graduate Survey Report

Table 6. Job Search Locations, by School Location & Student Type (% of Respondents)

School Location
Asia-Pacific* India** Europe Canada United States
Regional Search Domestic Intl Domestic Domestic Intl Domestic Intl Domestic Intl
Location Student Student Student Student Student Student Student Student Student
Canada 9% 10% 2% 10% 6% 99% 92% 1% 6%
Latin America 0% 2% 0% 7% 13% 3% 3% 2% 4%
United States 17% 27% 7% 24% 25% 16% 21% 98% 88%
Australia &
11% 29% 2% 8% 11% 1% 1% 1% 2%
Pacific Islands
East &
72% 66% 37% 10% 33% 3% 8% 2% 22%
Southeast Asia
Central &
10% 34% 73% 2% 10% 0% 2% 0% 4%
South Asia
Eastern Europe 6% 2% 2% 27% 11% 1% 1% 1% 2%
Western Europe 17% 10% 9% 75% 64% 6% 3% 6% 9%
Africa 2% 7% 3% 3% 10% 0% 0% 1% 2%
Middle East 2% 12% 4% 5% 14% 3% 6% 1% 4%
Dont know 5% 2% 1% 5% 4% 0% 0% 2% 1%
*For purposes of this report, Asia-Pacific includes schools located in Australia & Pacific Islands, East Asia, and Southeast Asia. See Footnote 2 in this report for
country breakdown.
**Domestic students only are shown for India, since they represented 100 percent of survey respondents.
Percentages in columns do not sum to 100 due to multiple selections.
Source: GMAC (2015) Global Management Education Graduate Survey.

apply to as many jobs as domestic students, on average, business graduates receiving a job offer through this
they receive 25 percent fewer interviews. Given the resource. For these graduates, other successful job search
increased challenges international students face searching methods include networking with classmates and alumni
for employment, its important to understand how the (38% success rate), internships (38%), and on-campus job
job search differs for domestic and international students boards (37%).
since 70 percent of international students who are seeking
A universal recommendation applicable to all job-seeking
employment wish to work outside of their home country. In
business graduates is to get involved with available co-
fact, as Table 6 illustrates, most business graduates (both
curricular activities as a means to expose themselves
domestic and international) seek employment in the region
to potential job opportunities after graduation. Survey
where their business school is located.
findings show that job-seeking students who participate
Although domestic and international business graduates, in internships, mentoring and leadership programs, and
on average, use approximately the same job search volunteer activities are more likely to receive a job offer
methods, domestic students are more likely to conduct than those not involved in these activities. This advice
their job search by utilizing their internships and applying applies to international students as well. International
directly to companies. International students, on the other business students who received early job offers had
hand, are more likely to use social media as their top job significantly higher rates of participation in internships
search resourcea job search method which overall has (72% vs. 53%), volunteer activities (55% vs. 42%), academic
proven to be less successful for generating job offers and case competitions (54% vs. 43%), and mentoring
than other methods [Figure 4]. For international students programs (45% vs. 31%) than international job seekers
seeking jobs in 2015, working with their schools career without job offers.
services department has proven to be the most successful
job search method, with half (50%) of international

2015 Graduate Management Admission Council (GMAC). All rights reserved.

 2015 Global Management Education Graduate Survey Report 15

Key Employment Attributes masters programs. Specialized masters graduates tend to

As part of the job search process, students must decide be more focused on the opportunity to learn new things
which job opportunities to pursue and more importantly, (46% vs. 34% of MBAs).
which job offer to accept. A variety of factors influence this There are also some notable differences between job
decision. When asked to select the five most important seekers who have received job offers and those without
attributes related to their future employment, total job offers. Students who received early job offers are
compensation (57%), challenging and interesting work more focused on challenging and interesting work (55%
(53%), opportunity for professional development (47%), vs. 51% without job offers), opportunity for professional
fit with company culture (42%) and advancement development (48% vs. 45%), advancement opportunity
opportunity (41%) were the most widely selected. (44% vs. 37%), and company image and reputation (38%
The top five employment attributes are similar for both vs. 28%). Job-seeking graduates who havent yet received
men and women in terms of the ones most widely selected a job offer are more likely to consider their ability to make
but there are some notable differences. Men are more likely an impact (35% vs. 28% of those with job offers), achieving
than women to place greater importance on compensation something they personally value (21% vs. 17%), a companys
(61% men vs. 51% women), advancement opportunity (44% high ethical standards (14% vs. 11%), work-life balance
vs. 37%), job autonomy (12% vs. 9%), and visibility with (33% vs. 29%), and the opportunity to work or travel in
executive team (11% vs. 7%). Women, on the other hand, are a foreign country (19% vs. 15%) as important in their job
more likely than men to place importance on opportunity search. This suggests those without job offers may not be
for professional development (51% women vs. 44% without an offer for lack of trying, but rather because of
men), fit with company culture (46% vs. 40%), work-life their increased selectivity in the types of companies and
balance (35% vs. 28%), flexible schedules (12% vs. 7%), and opportunities sought.
emphasis on community and inclusion (6% vs. 3%). Among the five percent of business graduates who were
The type of degree program attended also influences not employed and not seeking jobs at the time of the
the employment outcomes that graduates are seeking survey, one-third (37%) of them are likely to look for jobs
(Table 7). Graduates of MBA programs are more likely to closer to graduation. Other reasons for not actively seeking
consider compensation (60% vs. 47%), ability to make an jobs include plans to continue their education (19%), stay
impact (33% vs. 26%), and challenging and interesting at their internship (8%), relocate to a new area (7%), and
work (55% vs. 48%) as the most important job attributes return to their country of citizenship (7%).
they seek compared with graduates of specialized business

Table 7. Top 5 Employment Attributes Graduates Consider Important, by Program Type

All MBA Programs Specialized Business Masters (Non-MBA) Programs

(% of Respondents) (% of Respondents)

Total compensation Opportunity for professional development

1st
(60%) (50%)

Challenging and interesting work Challenging and interesting work

2nd
(55%) (48%)

Opportunity for professional development Total compensation

3rd
(46%) (47%)

Fit with company culture Opportunity to learn new things

4th
(43%) (46%)

Fit with company culture

(41%)
5th Advancement opportunity (41%)
Advancement opportunity
(41%)
Source: GMAC (2015) Global Management Education Graduate Survey.

2015 Graduate Management Admission Council (GMAC). All rights reserved.

16 2015 Global Management Education Graduate Survey Report

Changes in Compensation increase seen in 2013. Table 8 provides an overview of

median increases between pre- and post-degree salaries
One of the main reasons individuals pursue graduate in 2015 broken down by various demographic groups, and
management education is to increase their salary potential. compares these with salary changes reported in 2014. With
As indicated earlier, more than half (57%) of job-seeking just a few exceptions, the rise in median salary increases
business school graduates view the total compensation over 2014 is observed across most demographics including
package offered as the top attribute they seek in future gender, student type (domestic vs. international), industry,
employment opportunities [see Table 7]. job function, citizenship, and work experience.
Salary increases are mitigated by a variety of factors Regarding salary changes based on years of work
including a job seekers prior industry and job level, experience and job level, the more work experience
job function, citizenship, intended work location, and graduates have and the higher their job level before earning
prior years of work experience. Because of this, a salary their degree, the lower the resulting average salary increase
growth rate that compares pre-degree salaries with will be in comparison with graduates who have less work
expected post-degree salaries is the most meaningful experience and/or worked at a lower job level. Typically,
way to discuss expected changes in compensation for those with more work experience and/or higher job levels
job-seeking graduates. The following discussion focuses earn higher salaries to begin with so the dollar amount of
on the 58 percent of class of 2015 graduates seeking jobs the salary increase calculates to a smaller percentage of
who received an early job offer at the time of this survey. their overall salary. For example, if a graduate had a pre-
Sixty-two percent of these graduates with early job offers degree salary of US$100,000 and received an offer for a
provided salary information in order to calculate their new job that increased her salary by US$25,000, this would
salary growth. equate to a 25 percent salary increase. For a graduate with
Globally, these respondents experienced a median post- a pre-degree salary of US$50,000, the same increase of
degree salary increase of 90 percent over their pre-degree US$25,000 would equate to a 50 percent salary increase.
salarysignificantly higher than the 80 percent increase
seen by graduating students in 2014 and 73 percent

2015 Graduate Management Admission Council (GMAC). All rights reserved.

 2015 Global Management Education Graduate Survey Report 17

Table 8. Median Change in Post-Degree Salary Over Pre-Degree Salary, 2014 vs. 2015

Average (Median) Change in Salary for Graduates With Job Offers

Respondent Demographics
2014 2015
Global Total 80% 90%
Men 78% 89%
Gender
Women 91% 91%
Domestic 75% 79%
Student type
International 119% 192%
Less than 3 years 104% 112%
3 to 5 years 83% 100%
Years of work experience
6 to 10 years 64% 67%
11 years or more 33% 43%
Entry-level 100% 114%
Pre-degree job level Mid-level 76% 86%
Senior/executive 40% 63%
Consulting 87% 100%
Energy/utilities 59% 69%
Finance/accounting 63% 92%
Health care 109% 89%
Industry
Technology 97% 103%
Manufacturing 91% 85%
Government/nonprofit 55% 67%
Products/services 64% 82%
Marketing/sales 83% 92%
Operations/logistics 85% 78%
Consulting 81% 100%
Job function General management 71% 71%
Finance/accounting 68% 82%
Human resources 45% 104%
IT/MIS 88% 82%
Middle East/Africa 84% 156%
China 162% 104%
India 114% 200%
Citizenship* Europe 78% 57%
Canada 50% 86%
Latin America 125% 127%
United States 67% 69%
*Rest of Asia-Pacific not shown due to insufficient response rate (N < 25).
Source: GMAC (2015) Global Management Education Graduate Survey.

2015 Graduate Management Admission Council (GMAC). All rights reserved.

18 2015 Global Management Education Graduate Survey Report

Graduate Management Program Evaluation

Education Evaluated For graduating business students in 2015, the value
proposition of graduate management education is strong.
When asked to compare the total monetary cost of their
As noted, prospective students are motivated to pursue graduate management program to the quality of the
a graduate management education to increase their job education they received, 9 in 10 (89%) graduate business
opportunities. Their postgraduate employment outlook students rate the value of their degree as either good,
is one way to assess their return on investment (ROI). excellent, or outstanding. Likelihood to recommend a
Students evaluation of the quality of their graduate program to others considering graduate management
management education is another important measure of education is strongly correlated with program satisfaction
return on investment, as it reflects the knowledge, skills, (Pearsons r = .624). Thus, a similar percentage (88%)
and abilities being developed during their education, of graduate business students are likely to recommend
the way students are being taught, and the support their program to others. The strength of these measures
and resources offered to students to help them on their resonates across all graduate business programs analyzed
career journey. Students evaluation of their graduate in this report (Figure 5).
management education is also important as word-of-
mouth recommendation is one of the ways prospective In a separate question, graduating students in the class
students typically learn about the variety of graduate of 2015 were asked to rate the quality of nine core
schools and programs available and decide which to components of their graduate management program:
attend. So, its critical for schools to understand how admissions, career services, curriculum, faculty, program
students perceive their programs and what influences management, student services, fellow students, program
these perceptions to enhance current students structure, and program reputation. As Figure 6 shows,
experiences and maximize positive word-of-mouth the components earning the highest value ratings overall
endorsements for prospective students. (good/excellent/outstanding) from graduating students

Figure 5. Overall Value Rating (Good to Outstanding) of Graduate Business

Education & Recommendation Intention, by Program Type*

Value rating Intent to recommend

100% 93% 91% 95% 95% 94% 93%

89% 86% 87% 90% 89% 89% 89%
85% 84% 83% 83%
Percentage of respondents

77%
80%

60%

40%

20%

0%
FT 2-Yr FT 1-Yr PT/ Executive Online PGP MAcc MFin MiM
MBA MBA Flexible MBA MBA
MBA

*PGP = Postgraduate Programme; MAcc = Master of Accounting; MFin = Master of Finance; and MiM = Master in Management/International Management.
Source: GMAC (2015) Global Management Education Graduate Survey.

100

2015 Graduate Management Admission Council (GMAC). All rights reserved.

80
 2015 Global Management Education Graduate Survey Report 19

Figure 6. Graduates Evaluation of Core Program Components, by Percentage of Respondents

Outstanding Excellent Good Fair Poor

50%

40%
Percentage of respondents

30%

20%

10%

0%
Admissions Career Curriculum Faculty Program Student Fellow Program Program
services management services students structure reputation

Source: GMAC (2015) Global Management Education Graduate Survey.

Educational Outcomes and Employability

50
Prospective graduate management students are primarily outcomes-focused, seeking to increase their job
opportunities, develop their knowledge, skills, and abilities, and increase their salary potential.

Graduating students surveyed February through March 2015 feel their graduate management education was successful
in increasing their employability. The vast majority agree/strongly agree that their graduate management education:
40
n Improved their chances of finding a job that meets their expectations (86% of respondents),
n Provided a competitive advantage in the job market (85%),
n Prepared them to meet the challenges of the job market (85%),
n Empowered them to be in control of their employment outcomes (82%), and
30
n Introduced them to new career opportunities (78%).

For more on candidate motivations, see GMACs 2015 mba.com Prospective Students Survey Report at gmac.com/
prospectivestudents.
20

10

0
Admissions Career Curriculum Faculty Program Student Fellow Program Program
services management services students structure reputation
2015 Graduate Management Admission Council (GMAC). All rights reserved.
20 2015 Global Management Education Graduate Survey Report

include: faculty (94% of graduates), curriculum (92%), satisfaction expressed for various aspects related to faculty,
reputation (92%), admissions (90%), fellow students (90%), curriculum, admissions, fellow students, and program
and program structure (90%). Graduates value assessment structure (Table 9).
of career services was the lowest, however, with 25 percent
Closer examination of some of the highest and lowest
of graduates rating it as fair or poor.
satisfactions ratings reveals the following insights:
Students in the class of 2015 were also asked to indicate
n Faculty: Students were satisfied with knowledge of
how satisfied they are with various aspects of each of
the faculty (93%) and responsiveness of the faculty
the major components of their business program. Similar
(90%). Satisfaction with teaching methods was slightly
to last year, satisfaction ratings correspond with student
lower at 85%.
evaluations of core program components, with highest

Table 9. Satisfaction With Aspects of Graduate Program Components (Net % Very Satisfied/Satisfied), Class of 2015

Core Program Components Individual Program Aspects Net % of Graduates Very Satisfied/Satisfied*
Access to staff 89%
Admissions Responsiveness of staff 88%
Information provided 88%
Knowledge of staff 72%
Responsiveness of staff 76%
Career services
Availability of resources 72%
Ability to provide job opportunities 61%
Relevance 89%
Curriculum Integration 86%
Comprehensiveness 88%
Knowledge of faculty 93%
Faculty Responsiveness of faculty 90%
Teaching methods 85%
Program management staff 82%
Mission 82%
Program management
Standards 81%
Continuous improvements 77%
Student services staff 77%
Student activities and clubs 71%
Student services
Symposium and guest speakers 79%
Communication with students 80%
Contribution to learning 83%
Cooperative atmosphere 86%
Fellow students Close-knit community 78%
Talent level 81%
Networking opportunities 78%
Class schedule 84%
Class size 89%
Program structure
Facilities 86%
Technological resources 85%
*Survey respondents were asked to rate their level of satisfaction with various aspects of their graduate management program using a five-point scale ranging from
very satisfied to very dissatisfied.
Source: GMAC (2015) Global Management Education Graduate Survey.

2015 Graduate Management Admission Council (GMAC). All rights reserved.

 2015 Global Management Education Graduate Survey Report 21

n Curriculum: Satisfaction was high for relevance (89%), A key driver analysis (Pratt Index; multiple R = .731)9
comprehensiveness (88%), and integration of the shows that program structure (26%), curriculum (23%),
curriculum (86%). and faculty (17%) are the primary influencers of program
value ratings. These are followed by fellow students (9%),
n Career Services: Lower satisfaction with this program
admissions (8%), program reputation (8%), career services
aspect is generally related to whether or not a student
(5%) and student services (4%). Program management did
has a job offer. Only 61 percent of class of 2015 graduates
not contribute significantly as a driver of overall value.
indicated they were satisfied with career services ability
to provide job opportunities. Satisfaction was higher
for responsiveness of staff (76%) and availability of
resources (72%). Learning Environment
A variety of instructional methods is used to develop
graduate business students knowledge, skills, and abilities
Key Drivers of Overall Value during their educational experience including: pure lecture,
a blend of lecture and discussion, case studies, experiential
Many factors influence students perception of the overall
learning (e.g., simulation, immersion, and lab) and team
value of their graduate management education. The ability
projects. On average, students are instructed through team
to receive a job offer might seem to be the most logical
projects 23 percent of the time, a blend of lecture and
influencer since it is a direct measure of students return
discussion 23 percent of the time, case studies 23 percent
of investment. Although receiving a job offer relates
of the time, pure lecture 22 percent of the time, and
significantly to program value (Pearsons r = .163), it pales
experiential learning 10 percent of the time, although this
in comparison to the strength of individual graduate
varies by program type. (Figure 7).
management program elements (Pearsons r ranges from
.432 for career services to .643 for program structure).

Figure 7. Average Time Spent Learning Through Instructional Methods, by Program Type*

Lecture Lecture/discussion Case study Experiential Team projects

35%

30%
Percentage of respondents

25%

20%

15%

10%

5%

0%
FT PT/ Executive Online PGP MAcc MFin MiM
MBA Flexible MBA MBA MBA

*FT MBA includes both one-year and two-year program formats combined. PGP = Postgraduate Programme; MAcc = Master of Accounting; MFin = Master of Finance;
MiM = Master in Management/International Management.
Source: GMAC (2015) Global Management Education Graduate Survey.

9
Pratt Index = (*r)/R2, where is the standardized regression coefficient, r is the simple Pearson correlation coefficient, and R2 is the proportion of the variance
explained by the regression model.

2015 Graduate Management Admission Council (GMAC). All rights reserved.

22 2015 Global Management Education Graduate Survey Report

Table 10. Participation in Co-Curricular Activities, by Percentage of Respondents & Program Type

Program Type*
Full-Time Part-Time/ Executive Online
Co-curricular Activities MBA Flexible MBA MBA MBA PGP MAcc MFin MiM
Student career/professional clubs 67% 19% 11% 8% 71% 24% 43% 30%
Internships 61% 5% 0% 0% 30% 40% 39% 61%
Diversity/multicultural events 52% 11% 15% 5% 57% 17% 28% 40%
Volunteer activities 50% 17% 14% 5% 70% 30% 22% 35%
Academic/case competitions 46% 14% 9% 3% 75% 5% 31% 26%
Work projects 46% 22% 26% 5% 58% 15% 26% 38%
Mentoring programs 39% 13% 14% 2% 49% 5% 20% 13%
Leadership programs 37% 17% 18% 5% 50% 12% 19% 18%
Community service organizations 30% 8% 10% 5% 38% 11% 11% 7%
Study-abroad programs 29% 23% 32% 3% 49% 2% 8% 36%
Student government 16% 5% 4% 0% 15% 5% 5% 5%
None of the above 7% 39% 34% 78% 1% 31% 20% 7%
*Full-time MBA includes both one-year and two-year program formats combined. PGP = Postgraduate Programme; MAcc = Master of Accounting;
MFin = Master of Finance; MiM = Master in Management/International Management.
Source: GMAC (2015) Global Management Education Graduate Survey.

The mix of instructional methods doesnt necessarily align students are involved. Level of student involvement varies
with students preferences, however. Blends of lecture by program type with MBA and PGP graduates most likely
and discussion and case studieswhich are commonly to be involved in these activities and those in online MBA
usedare preferred by 30 percent and 27 percent of programs very unlikely to be involved (Table 10).
students, respectively. Experiential learning, however, used
approximately 10 percent of the time, is preferred by a
sizeable 24 percent of students as well. Pure lectures on
the other hand, are a commonly used method but are only
Development of Knowledge,
preferred by a very small percentage (5%) of students. Skills, and Abilities
Instructional methods are one component of the evaluation Curriculum is another main driver of overall program
of a programs faculty, and one of the top drivers of overall value. The development of knowledge, skills, and abilities
value. The degree to which the different instructional (KSAs) is the foundation of every graduate management
methods are incorporated into graduate business programs education programs curriculum. Business school
influences students perceptions of program value and graduates were asked to rate their level of improvement,
likelihood to recommend. Pure lectures, in particular, using a 10-point scale, for 18 different business-related
can negatively impact value perceptions (Pearsons r = KSAs. Graduates indicated that the KSAs they improved
-.199) and likelihood to recommend a program to others the most during their program included general business
(Pearsons r = -.195). Generally, the more frequently that knowledge; managing decision-making processes; learning,
students are taught through their preferred learning motivation, and leadership; and managing strategy and
methods of lecture and discussion blends, case studies, and innovation (Figure 8).
experiential learning, the more favorable will be their value Across the 18 KSAs reviewed in the survey, students who
perceptions and likelihood to recommend. used each skill more often prior to earning their graduate
Student involvement in co-curricular activies is another management degree reported greater improvement of
way in which students can build upon the knowledge, those skills during their program compared with students
skills, and abilities (KSAs) they are developing in their who used these skills less frequently prior to earning
graduate management programs and further develop their degree.
their soft skills. Student career and professional clubs, Graduates with early job offers report significantly higher
internships, volunteer activities, work projects, diversity levels of development in the areas of managing human
and multicultural events, and academic competitions capital, knowledge of general business functions, and
are the most common co-curriculur activities in which

2015 Graduate Management Admission Council (GMAC). All rights reserved.

 2015 Global Management Education Graduate Survey Report 23

interpersonal orientation than job seekers without job prospective students soft skills during the application
offers. Those with job offers were also significantly more process. KSA improvement is also important for schools
likely to use the following skills (mostly soft skills) more since it is related to perceived program value and graduates
frequently prior to business school: likelihood to recommend their program to others.
n Managing the task environment, Survey findings also show that instructional methods are
n Interpersonal skills, directly related to KSA improvement. A pure lecture format
n Foundation skills, seems to be less conducive to skill development (the more
n Generative thinking, this method was incorporated into the curriculum, the
n Learning, motivation, and leadership, less improvement business school graduates reported on
n Interpersonal orientation, and the KSAs). On the other hand, experiential learning and
case studies are the most conducive to development of
n Conscientiousness.
the 18 KSAs rated in this survey (KSAs improved the more
This suggests that the development of soft skills may be frequently these instructional methods were incorporated
a desirable means to distinguish students progressing into the curriculum). Lecture/discussion blend formats
through the same curriculum. Admissions professionals perform about the same as experiential learning and
seeking ways to boost employment offers for their case studies in terms of skill development, but are only
graduating students may want to consider evaluating significantly related to a few of the 18 KSAs.

Figure 8. Knowledge, Skills, & Abilities (KSAs) Developed in Business School*

Knowledge of general business functions 7.8

Managing decision-making processes 7.5
Learning, motivation, & leadership 7.5
Managing strategy and innovation 7.4
Strategic and system skills
7.2
Interpersonal skills
7.1
Generative thinking
7.0
Interpersonal orientation
6.9
Knowledge of human behavior/society
6.8
Managing human capital
6.7
Managing human capital
6.7
Managing task environment
6.6
Conscientiousness

Foundation skills 6.6

Operations skills 6.5

Managing administrative activities 6.2

Managing tools and technology 6.1

Knowledge of media communications 6.1

Knowledge of technology/design/production 6.1

0 1 2 3 4 5 6 7 8 9 10
Not at all A great deal

*Ratings of KSA improvement were set on a 10-point scale, ranging from Not at All (0) to A Great Deal (10).
Source: GMAC (2015) Global Management Education Graduate Survey.

Knowledge of general business functions

2015 Graduate Management Admission Council (GMAC). All rights reserved.
Managing decision-making processes
24 2015 Global Management Education Graduate Survey Report

Integrated Reasoning Skills integrated reasoning skills are incorporated into graduate
business curricula, as reported by this years graduates:
Past GMAC research shows that employer demand for job
candidates with demonstrated analytical and integrated n Evaluating relevant data from different sources (85%,
reasoning skills is growing across all industry sectors.10 often or all the time),
Almost all business school alumni report using integrated n Synthesizing data presented in graphics, text, and
reasoning skills on the job. Those who do so regularly are numbers (82%),
generally more successful, as evidenced by their higher n Organizing data to see relationships and to solve
salaries compared with those who rarely or never use them.11 multiple, interrelated problems (81%), and
Responses from class of 2015 students about to graduate n Combining and manipulating data to solve complex
this year reveal that integrated reasoning skills are problems (82%).
widely incorporated into graduate business programs.
As seen with the development of KSAs, the more
Approximately 4 in 5 graduates indicate that integrated
frequently integrated reasoning skills are incorporated
reasoning skills are incorporated into their program nearly
into the curriculum, the greater the value ratings business
all the time. Very few graduates report never encountering
school graduates give their program and the more likely
integrated reasoning skills as part of their curriculum.
they are to recommend their program to others.
Figure 9 shows the frequency at which four major

Figure 9. Integrated Reasoning Skills, Based on Frequency Incorporated Into Curriculum (% of Respondents)

All of the time Often Sometimes Rarely Never

50%

44% 44%
42% 43% 43%

40% 38% 39%

36%
Percentage of respondents

30%

20%
15% 16%
15%
12%
10%

2% 3% 3% 3%

0% 0% 0% 0% 0%
Evaluate Synthesize Organize Combine

Source: GMAC (2015) Global Management Education Graduate Survey.

50%

GMAC (2012) Corporate Recruiters Survey.

10

GMAC (2013) People who use integrated reasoning skills often report higher salaries. Graduate Management News. Retrieved from
11

40%
http://www.gmac.com/why-gmac/gmac-news/gmnews/2013/march-2013/int-reasoning-boost-careers-salaries.aspx

2015 Graduate Management Admission Council (GMAC). All rights reserved.

 2015 Global Management Education Graduate Survey Report 25

Concluding Note The results of this survey do not necessarily reflect a

statistically representative sample of graduating students.
Because of this limitation, the results of this research
Graduate management education continues to meet study should not be used to generalize about the student
graduate students needs for enhancing their career population, but they can be used as a reflection of the
opportunities. These opportunities for business school sample frame under consideration. Several clear trends
graduates in the class of 2015 are improving on multiple emerge from the data, nevertheless.
fronts. Students searching for new jobs are experiencing
greater success and they are taking advantage of new
career paths by switching job functions and/or industries,
increasing their job mobility, and increasing their salary How to Participate in the Survey
potential. Those remaining in their current jobs are more School professionals at business schools that offer
likely to expect increases in job responsibilities and graduate programs can help facilitate this annual survey,
salary compared with last years graduating class. For either by sending invitations and survey links to their
entrepreneurs, business school is equipping them with graduating students or by providing GMAC with their
the knowledge to pursue their dream of self-employment. student contact list. Email [email protected] to secure
Students find great value in graduate management your schools invitation for the next Global Management
education and believe it was integral in enhancing their Education Graduate Survey. School participation benefits
employability. include comprehensive statistics, customized reports that
compare your data with that of your peers, and advance
access to survey findings.
Methodology Student participation benefits include an opportunity to
The 2015 Global Management Education Graduate Survey voice their opinions and concerns to school professionals
collected responses from a total of 3,787 graduate in a confidential manner, access to the survey reports,
management students at 112 universities worldwide. and an offer to be included in a drawing for one of 50
Findings in this report are based on analysis of data US$100 prizes.
collected from 3,329 of these students who will graduate in
the class of 2015 (Table 11). Responses from the remaining
458 graduate management students who indicated they
would graduate in 2016 or later were collected in this study
and are supplied in the benchmark and interactive data
reports that their respective schools receive as a benefit of
survey participation.

All GMAC member schools and a number of other schools

representing a cross section of the global graduate
management industry received email invitations to
participate in the study. Schools participated either by
providing GMAC with the names and email addresses for
their graduating class of 2015 or by forwarding the survey
invitation directly to their students on GMACs behalf.
The survey was in the field between February 11, 2015 and
March 30, 2015. Frequency distributions were examined
for both topical and classification questions. Response
categories for some questions were collapsed to make final
analysis more robust. Tests of statistical significance were
used throughout the report, and a 95 percent confidence
interval was used as the cutoff point for significance.

2015 Graduate Management Admission Council (GMAC). All rights reserved.

26 2015 Global Management Education Graduate Survey Report

Table 11. Demographic Profile (Number of Respondents) of the Class of 2015

Gender Age
Total 24 and 40 and
Number Men Women Younger 25 to 27 28 to 30 31 to 39 Older
Overall 3,329 2,034 1,169 346 713 784 1,038 297
School Location
Middle East/Africa 117 51 59 17 26 21 26 20
Asia-Pacific* 166 110 48 2 28 35 71 20
India** 93 74 19 7 30 18 34 3
Europe 570 364 173 51 164 136 158 27
Canada 190 111 74 6 41 59 63 14
Latin America 187 128 51 3 37 58 58 23
United States 2,006 1,196 745 260 387 457 628 190
Program Type
Full-time 2-year MBA 980 639 306 46 217 335 314 27
Full-time 1-year MBA 636 399 202 49 131 187 209 21
Part-time/Flexible MBA 636 386 234 8 69 148 282 107
Executive MBA 209 154 49 0 6 9 95 90
Online MBA 64 44 19 2 15 13 22 10
Postgraduate Programme (PGP) 84 65 19 7 23 16 34 3
Master of Accounting 129 53 69 79 23 8 10 2
Master of Finance 147 75 66 53 60 15 7 5
Master in Management/Intl Management 172 70 96 59 86 11 9 1
Other specialized business masters 202 105 84 31 63 26 44 23
Citizenship
Middle East/Africa 200 116 84 20 46 42 67 24
China 256 115 141 50 80 46 73 6
India 321 258 63 12 83 109 102 8
Rest of Asia-Pacific*** 152 97 55 4 30 33 60 25
Europe 375 241 134 56 127 76 84 31
Canada 113 66 47 5 29 32 37 9
Latin America 250 185 65 5 47 76 98 24
United States 1,511 937 574 193 264 365 507 169
*Asia-Pacific includes school locations in Australia and Pacific Islands, East Asia, and Southeast Asia. See Footnote 2 for school locations.
**India is shown separately since it was the only country in Central Asia that had participating business schools.
***Rest of Asia-Pacific includes citizenship groups in Australia & Pacific Islands, East Asia, and Southeast Asia.
Source: GMAC (2015) Global Management Education Graduate Survey.

2015 Graduate Management Admission Council (GMAC). All rights reserved.

 2015 Global Management Education Graduate Survey Report 27

Contact Information Acknowledgements

GMAC especially expresses its thanks to the 3,329 graduate
For questions or comments regarding the study findings, management students who completed the 2015 survey
methodology, or data, please contact the GMAC Research questionnaire and the 112 schools that partnered directly
Services Department at [email protected]. with GMAC. Without your feedback, this report would not
have been possible.

Contributors
The following individuals from the Research Services
Department in the School Products Division at GMAC made
significant contributions to the publication of this report:
Rhonda Daniel, Survey Research Manager, questionnaire
design, sample development, survey management,
analysis and interpretation of data, and drafting of the
manuscript; Gregg Schoenfeld, Director, Management
Education Research, review of questionnaire, analysis, and
manuscript review; Rebecca Estrada-Worthington, Survey
Research Manager, school recruitment and manuscript
review; Paula Bruggeman, Writer/Editor, Research Manager,
editorial review and publication management; Alex
Chisholm, Director, Research Services, manuscript review;
Matthew Hazenbush, Research Communications Manager,
manuscript review; Devina Caruthers, Research Associate
Manager, survey administration; Tacoma Williams, Research
Coordinator, quality assurance; and Bob Alig, Executive Vice
President, School Products Division, manuscript review.

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photocopying, recording or otherwise, without the prior written permission of GMAC. For permission contact the GMAC legal department at [email protected].
The GMAC logo, GMAC, GMAT, Graduate Management Admission Council, and Graduate Management Admission Test are registered trademarks of the Graduate
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The Global Management Education Graduate Survey is one in a series of five annual or biannual surveys
produced by the Graduate Management Admission Council that explore relevant issues in graduate
management education. Other GMAC surveys include...

n mba.com Prospective Students Survey

Launched in 2003, this annual survey profiles prospective students, tracking how and why they move
through the pipeline, and what motivates them and gets their attention.

n Corporate Recruiters Survey

Launched in 20012002, this annual survey helps schools better understand the job market, clarify
employer expectations, and benchmark their career services practices. Employers use the survey results
to benchmark the MBA recruitment activities of their companies.

n Alumni Perspectives Survey

This annual survey explores the career journey of alumni after business school and tells the story of their
career progression, expectations, attitudes, and the value of their education.

n Application Trends Survey

Since its debut in 1999, this annual two-part survey compares current and previous year application
data for business school programs worldwide, highlighting trends by program type and world region.

Survey Reports provide an overview of data in addition to offering context for and discussing implications
of the research. They frequently are used to help drive strategic decision-making processes in graduate
business schools.

All Survey Reports are available online at gmac.com/surveys.