A new Intelligent.com study has found that 68% of graduating full-time Master of Business Administration (MBA) students do not have a full-time job lined up after graduation.
Students with ChatGPT experience, the study found, are more likely to have secured a full-time job, with 81% of MBA students saying they applied to jobs that prefer ChatGPT experience.
“Many companies are being cautious about hiring, given layoffs in media and technology which then impact other sectors such as advertising and real estate,” Professor of Strategic Communication at Ithaca College and Principal of Gayeski Analytics Diane Gayeski said in a release. “When they are hiring, they are looking for candidates who demonstrate flexibility and lifelong learning habits, and who can bring new ideas into the organization.”
The study also found that 28% of MBA students who have a full-time position upon graduation will not start until 2024. Forty-four percent have a start date in May-August 2023, 28% in September-December 2023, 17% January-April 2024, 6% May-August 2024, and 4% September-August 2024. Another half of a percent say that they will start in 2025 or later.
Of the students who have a full-time job lined up, the majority will earn a six-figure salary. Only 14% will earn less than $100,000, while 42% will earn $101,000-$150,000, 32% between $151,000–$200,000, and 11% more than $200,000.
The majority say they also received a signing bonus, starting bonus and/or moving stipend.
Eighty-three percent of students say they took out student loans to pay for their MBA program. Women graduating from MBA programs are more likely than men to say they don’t have a full-time job yet, with 73% versus 63%.
When it comes to the type of program completed, online MBA students seemed to have fared the best in terms of employment outcomes. Of online students, 57% say they do have a full-time job after graduation. Only 24% of hybrid and 28% of in-person students say the same.