2023ess Summaryreport
2023ess Summaryreport
Students
Survey:
Summary Data
Report
September 2023
Contents
Introduction 3
Key Findings 4
Evaluation of GME 5
Student Experience 10
Job Search & Compensation 17
Career Goals & Mobility 25
Methodology 28
Appendix 31
Contributors & Contact Information 38
2
Introduction
The Enrolled Students Survey from the Graduate Management Admission Council (GMAC) provides
the world’s graduate business schools with data and insights to understand current trends in student
and recent graduates’ evaluations and outcomes of their graduate management education (GME).
2023 Survey Sample
This year’s summary report explores respondent views on their GME experience, career goals and Key Numbers
progression, job search, compensation and the extent to which they believe their program helped
them develop skills they consider important for business school graduates.
Responses from more than 660 enrolled business graduate students (93%) or recent graduates (7%)
were included in the analysis. They represented students from 192 business schools worldwide.
661 Total responses
Among them, about one-third attended business schools in the United States. A quarter of them
went to business schools in Asia. Another 20% studied at European business schools; with the
remaining enrolled at or graduated from schools in Latin America, Africa, and the Middle East.
Overall, students or recent graduates from schools located in 36 countries participated in this survey. 192 Business schools
represented
On average, survey participants had 5 years of work experience, with about 85% pursuing MBA
degrees. Almost half of the respondents attended full-time programs and the other half studied part-
time, online, or enrolled in hybrid and flexible programs. More than 20% of the respondents studied
at graduate business programs ranked in the top 100 by Financial Times or US News & World
36 Countries represented
Report.
3
Key Findings
Most students or recent graduates highly value their graduate On average, students received one offer after applying to
management degree and experience but expect more from more than 5 positions, with greater challenge to secure
career services, especially international students employment for female and international students than for
male and domestic students
• Worldwide, 90% of respondents rated the overall value of graduate
business degree “Good, Excellent, or Outstanding” • Online job search and applying directly to companies of interest are
the two most used job search methods, with less than 30% of
• Faculty ranked the highest among all program aspects that respondents using schools’ career services
respondents rated based on their experience at business school
• Internships or prior work projects are the most successful job search
• 72% of international students/graduates rated career services “Good, method but used by only about a quarter of students
Excellent, or Outstanding”, compared with 90% among domestic
counterparts • Median total compensation increased by one-third after graduate
business training, with greater increases for full-time MBA students
Students think business schools prepare them well on top than for professional MBA students
skills important for business talent, such as interpersonal,
communication, and leadership skills, but identify room for Graduate business education helps students achieve their
improvement in training on data analysis and interpretation personal, professional, and financial goals
• About half respondents consider interpersonal, communication, and • More than half of the students reported graduate business education
learning & leadership skills important for current business school helped them switch industry or job function, gain a promotion,
graduates enriched their life, and developed their potential
• MBA students are also interested in sharpening decision-making • GME helped over 40% of respondents increase job levels, 40% of
skills, while business master students have a special interest in female students change job function, and about half of international
developing data analysis and interpretation skills students change industry
• Business skill preparation sentiments vary by world region, with
students from multiple world regions asking for more training on
data analysis and interpretation
4
Evaluation
of GME
This section provides results about
respondents’ evaluation of the overall value of
their graduate management degree, their
ratings of different aspects of the graduate
business programs they attended, and reasons
why they rated any of the program aspects
unfavorably.
Majority of respondents worldwide and by region highly value
their graduate business degrees
10%
Global
90%
13%
Asia-Pacific Islands
87%
7%
Europe
93%
8%
Latin America
92%
13%
Middle East & Africa
87%
8%
North America
92%
Note: Survey Question: When you compare the total monetary cost of your graduate management program to the quality of education
you received, how would you rate the overall value of your graduate management degree? Response scale: Poor, Fair, Good, Excellent,
and Outstanding
6
Students had the most favorable rating of faculty and expected
more of career and alumni services
Percent rated
Evaluation of Different Aspects of Graduate Business Programs
favorably
Faculty 94%
Curriculum 93%
Admissions 93%
Office of Program Management 92%
94% 93%
92% 92% 92% 92%
90% 90%
88% 88%
80% 86% 86%
84%
82%
72%
60% 63%
40%
20%
0%
Domestic International Domestic International Domestic International Domestic International Domestic International Domestic International Domestic International Domestic International
Faculty Curriculum Admissions Office of Program Student Services Quality of Cohort Career Services Alumni Services *
Management
Notes:
1. Survey Question: Rate each of the following components of your graduate program based on your experience during the last 12 months. Response scale: Poor, Fair, Good,
Excellent, and Outstanding.
2. Both enrolled students and recent graduates were invited to evaluate all aspects of graduate business programs except alumni services, to which only recent graduates were
invited to respond. Caution is warranted when interpreting differences in the ratings of alumni services by domestical (N = 33) vs international (N = 8) graduates due to
8 limited number of recent graduates who responded to this question.
Respondents identified many factors associated with unfavorable
ratings of different aspects of programs
Note: Survey Question: Why did you rate the following component(s) of your graduate program as poor or fair? Response format: open-end
9
Student
Experience
This section summarizes findings about skills that
students consider important to develop at
business school, the extent to which they were
well prepared on those skills during graduate
business training, and recommendations
respondents provided to increase the value of
graduate business education to future students
and alumni.
Students/graduates consider interpersonal, communication, learning,
and leadership skills the most important to learn at business school
Top 10 Knowledge and Skills Students/Graduates Considered Important to Learn at Business School
100%
Skills important to learn in business school Adequately or well prepared after business school
80%
80% 82% 80% 80% 82%
79% 77%
70% 70% 72%
60%
53%
50% 48% 47% 45% 45%
42%
40% 37% 36% 34%
20%
0%
Interpresonal Communication Learning, Decision making Strategy and Data analysis Knolwedge of Managing Business ethics Administrative
skills motivation, and process innovation and business human capital activities
leadership interpretation functions
Note: Survey Question: Which of the following knowledge and skills do you believe are most important for business school graduates to possess for current job openings?
Select all that apply. Response format: checklist
11
Most respondents reported being well prepared on the top 10 skills,
with room for improvement in training on data analysis and
interpretation, managing human capital, and administrative activities
The Extent to Which Students/Graduates Feel Adequately or Very Well Prepared on the Top 10 Knowledge and
100% Skills They Considered Important to Learn at Business School
Skills important to learn in business school Adequately or very well prepared after business school
80% 82% 80% 80% 82%
79% 77%
80%
70% 70% 72%
60%
53%
50% 48% 47% 45% 45%
42%
40% 37% 36% 34%
20%
0%
Interpresonal Communication Learning, Decision making Strategy and Data analysis Knolwedge of Managing Business ethics Administrative
skills motivation, and process innovation and business human capital activities
leadership interpretation functions
Note: Survey Question: For the knowledge and skills you said were important, how prepared do you feel you are for each of the following knowledge and skills based on your
graduate business education experience?. Response scale: Not at all prepared, not very prepared, somewhat prepared, adequately prepared, and very well prepared.
12
MBA and business master’s students share common interests in
developing interpersonal and communication skills, with differences in
other top skills they want to develop at business school
Top Skills MBA Students Are Interested in Top Skills Business Master’s Students Are Interested in
Note: Survey Question: Which of the following knowledge and skills do you believe are most important for business school graduates to possess for current job openings?
13
Select all that apply. Response format: checklist
MBA students feel better prepared than business master’s students on
the top 3 skills they wanted to develop at business school
The Extent to Which MBA Students Feel Prepared The Extent to Which Business Master’s Students Feel
on The Top 3 Skills They Want to Develop Prepared on The Top 3 Skills They Want to Develop
Note: Survey Question: For the knowledge and skills you said were important, how prepared do you feel you are for each of the following knowledge and skills based on your
14 graduate business education experience?. Response scale: Not at all prepared, not very prepared, somewhat prepared, adequately prepared, and very well prepared.
Business school skill preparation sentiments vary by world region
Knowledge and Skills Respondents Felt the Least Prepared by Business School by World Region
Note: Survey Question: For the knowledge and skills you said were important, how prepared do you feel you are for each of the following knowledge and skills based on your
15 graduate business education experience?. Response scale: Not at all prepared, not very prepared, somewhat prepared, adequately prepared, and very well prepared.
Respondents provided many ideas to further increase the value of
graduate business education to future students and alumni
Note: Survey Question: What additional support or resources would you request from your school offices? Response format: open-ended.
16
Job Search &
Compensation
This section summarizes results about the job
search process, results overall and by group,
the use and success rate of different job search
methods, as well as total compensation before
and after GME overall and by group.
On average, for every five applications submitted, students
received one job offer
16 5 3
Applications Interviews Job offers
Notes:
1. Survey Question: How many resumes or job applications did you submit as part of your job search? Response format: open-ended.
2. Survey Question: How many job interviews have you been invited to? Response format: open-ended.
3. Survey Question: How many job offers have you received? Response format: open-ended.
18
Female and international students applied to more positions but
received less job offers than their male and domestic counterparts
11 4 3 12 5 3
Male Applications Interviews Job offers Domestic Applications Interviews Job offers
Female 21 5 2 36 4 1
Applications Interviews Job offers International Applications Interviews Job offers
Notes:
1. Survey Question: How many resumes or job applications did you submit as part of your job search? Response format: open-ended.
2. Survey Question: How many job interviews have you been invited to? Response format: open-ended.
3. Survey Question: How many job offers have you received? Response format: open-ended.
19
Students who struggled to secure employment are more likely
to be female and international students
Notes:
1. Survey Question: Did you have a job secured for after you completed your graduate business program? Response format: Multiple choice that ranges from “Yes, I was
working for an employer while in school and stayed with that employer after graduating.” to “No, I had not secured employment, but I was not searching.”
20
Online job search and applying directly to companies of interest are
two most used job search methods, with less than 30% of
respondents using the school’s career services
Use and Success Rate of Different Job Search Methods
Used Success
100%
80%
58%
60% 52%
47% 48% 44% 47% 47%
40% 41% 43%
40% 36% 34% 35% 35% 38% 38% 37%
30% 31% 29% 27% 24% 23% 20% 18% 17%
20%
0%
Used online job Applied directly Social media Networked with Networked with Attended job Resources from Intership or work Job boards Networked at Used Used a career Searched
search sites (not to companies of classmates and friends and fairs (in-person my school's project I through my professional or headhunters, coach newspaper help-
including interest to me alumni family or virtual) Career Services participated in school trade association search firms, or wanted ads in-
newspaper) meetings employment print/online
agencies
Note: Survey Question: Which of the following methods have you used in your job search? (Select all that apply) Response format: Multiple choice.
21
Internship or work projects participated in before is the most
successful job search method but used by only about a quarter of
students
Use and Success Rate of Different Job Search Methods
Used Success
100%
80%
58%
60% 52%
47% 48% 44% 47% 47%
40% 41% 43%
40% 36% 34% 35% 35% 38% 38% 37%
30% 31% 29% 27% 24% 23% 20% 18% 17%
20%
0%
Used online job Applied directly Social media Networked with Networked with Attended job Resources from Internship or Job boards Networked at Used Used a career Searched
search sites (not to companies of classmates and friends and fairs (in-person my school's work project I through my professional or headhunters, coach newspaper help-
including interest to me alumni family or virtual) Career Services participated in school trade association search firms, or wanted ads in-
newspaper) meetings employment print/online
agencies
Notes:
1. Survey Question: Which of the following methods have you used in your job search? (Select all that apply) Response format: Multiple choice.
2. Survey Question: Of the job search methods you used, which did you receive a job offer from? Select all that apply. Response format: Multiple choice.
22
Female students had more success securing employment through
internships or prior projects than male students; international
students may benefit from more use of internships to search for jobs
Notes:
1. Survey Question: Which of the following methods have you used in your job search? (Select all that apply) Response format: Multiple choice.
2. Survey Question: Of the job search methods you used, which did you receive a job offer from? Select all that apply. Response format: Multiple choice.
23
Median total compensation increased by one-third after
graduate business training, with greater increase for full-time
MBA students than for professional MBA students
Median and Interquartile Range of Total Compensation Before and After GME
Overall
25th percentile - median – 75th percentile
Before
$40K - $75K - $150K
GME
33% increase of median salary Note: Survey Question: Estimate your annual
base salary and other monetary compensation
After in US dollars prior to enrolling in a graduate
$45K - $100K - $180K business program and at the time of the
GME survey. Response format: Open-ended.
Before Before
$50K - $120K - $190K $40K - $70K - $120K
GME GME
42% increase of median salary 29% increase of median salary
After After
$70K - $170K - $260K $50K - $90K - $140K
GME GME
24
Career Goals
& Mobility
This section presents findings about the goals
GME students aimed to achieve, the extent to
which they attained their goals through GME,
as well as the degree to which GME helped
candidates increase job levels and change
industry & job functions.
More than half of respondents indicated graduate business
education helped them switch industry or job function, gain a
promotion, enriched their life and developed their potential
Gain Make
Goals Increase Enhance current job
business
set before knowledge
income network more
GME (36%) (27%) secure
(42%) Enrich life Switch
and industry or (25%)
Gain a
develop job promotion
potential function (25%)
46% (38%) 51% (35%)
Goals 45% 51% Made
Gained Increased current job
achieved business income
Enhanced
more
after network
knowledge 54% 61% secure
GME Enriched Switched 57%
life and industry or Gained a
developed job promotion
potential function
26
GME helped more than 40% of respondents increase their job
levels, 40% of female students change job function, and about half
of international students change industry
43%
Increased job levels after GME
33% 36%
Changed industry after GME Changed job function after GME
31% 49%
32% 40%
Domestic students International students
Male students changed Female students changed
changed industry after changed industry after
job function after GME job function after GME
GME GME
27
Methodology
GMAC’s 2023 Enrolled Students Survey was conducted in Overall results are weighted to represent the regional
the spring of 2023 in partnership with participating proportion of candidates who may be interested in a GME
graduate business schools and the Forté Foundation. degree in each region, which was estimated based on public
Enrolled students or recent graduates at participating data sources such as US Census, World Bank, UNESCO
schools and eligible members of the Forte Foundation were Education, and China’s Ministry of Education.
invited to take this survey online. In addition, GMAC
Research worked with a market research firm to build a Descriptive analyses were conducted on survey responses to
supplemental sample using an external online panel. examine respondents’ evaluation of the overall value of
GME degree and experience with different aspects of
Respondents to the 2023 Enrolled Students Survey came programs, the extent to which their graduate business
from 661 enrolled students or recent graduates who studied education helped them develop skills important to current
at 192 universities in 36 countries, representing all 6 global business talent, job search process and results, career goals
citizenship regions. Over 20% of respondents studied at and progression, and compensation.
graduate business programs ranked in the top 100 by
Financial Times or U.S. News & World Report. The next Estimates of population parameters were reported. Group
page provides a respondent profile with further details of results that are statistically different are presented and
respondents’ characteristics. highlighted in the report.
28
Respondent Profile
N %
School Region Asia Pacific 172 26%
Europe 120 18%
Latin America 95 14%
Middle East & Africa 60 9%
North America 214 32%
Degree Type MBA 556 84%
Business Master 92 14%
PhD 13 2%
Program Format Full-time, in person 315 48%
Part-time, in person 142 21%
Online, Flexible, Blended/hybrid 204 31%
Top 100 Ranked Programs Not Ranked 519 79%
Ranked 142 21%
Citizenship Status Domestic 583 88%
International 78 12%
29 Total 661 100%
Country – Region Assignment
All geographic regions mentioned in this report use the following country-region classifications:
• Africa & Middle East: Algeria, Angola, Bahrain, Benin, Botswana, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African
Republic, Chad, Comoros, Congo, Djibouti, Egypt, Equatorial Guinea, Eritrea, Ethiopia, Gabon, Gambia, Ghana, Guinea, Guinea-Bissau,
Iran, Iraq, Israel, Ivory Coast (Cote D'Ivoire), Jordan, Kenya, Kuwait, Lebanon, Lesotho, Liberia, Libya, Madagascar, Malawi, Mali,
Mauritania, Mauritius, Morocco, Mozambique, Namibia, Niger, Nigeria, Oman, Palestinian Territory, Qatar, Republic of Congo, Rwanda,
Saudi Arabia, Senegal, Seychelles, Sierra Leone, Somalia, South Africa, South Sudan, Sudan, Swaziland, Syria, Tanzania, Togo, Tunisia,
Uganda, United Arab Emirates, Western Sahara, Yemen, Zambia, Zimbabwe
• Asia & Pacific Islands: Afghanistan, American Samoa, Australia, Bangladesh, Bhutan, Brunei Darussalam, Cambodia, China, Christmas
Island, Cocos (Keeling) Islands, Cook Islands, Fiji, French Polynesia, Guam, Hong Kong, India, Indonesia, Japan, Kazakhstan, Kiribati,
Kyrgyzstan, Laos, Macao, Malaysia, Maldives, Marshall Islands, Micronesia, Mongolia, Myanmar, Nauru, Nepal, New Caledonia, New
Zealand, Niue, Norfolk Island, North Korea, Northern Mariana Islands, Pakistan, Palau, Papua New Guinea, Philippines, Pitcairn, Samoa,
Singapore, Solomon Islands, South Korea, Sri Lanka, Taiwan, Tajikistan, Thailand, Timor-Leste, Tokelau, Tonga, Turkmenistan, Tuvalu,
Uzbekistan, Vanuatu, Vietnam, Wallis and Futuna Islands
• Europe: Albania, Andorra, Armenia, Austria, Azerbaijan, Belarus, Belgium, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Czech
Republic, Denmark, Estonia, Faroe Islands, Finland, France, Georgia, Germany, Gibraltar, Greece, Greenland, Guernsey, Hungary, Iceland,
Ireland, Isle of Man, Italy, Jersey, Latvia, Liechtenstein, Lithuania, Luxembourg, Macedonia, Malta, Moldova, Monaco, Montenegro,
Netherlands, Norway, Poland, Portugal, Republic of Kosovo, Romania, Russian Federation, San Marino, Serbia, Slovakia, Slovenia, Spain,
Sweden, Switzerland, Ukraine, United Kingdom, Vatican City State
• Latin America: Anguilla, Antigua and Barbuda, Argentina, Aruba, Bahamas, Barbados, Belize, Bermuda, Bolivia, Bonaire, Saint Eustatius
and Saba, Brazil, Cayman Islands, Chile, Colombia, Costa Rica, Cuba, Curacao, Dominica, Dominican Republic, Ecuador, El Salvador,
Falkland Islands, French Guiana, Grenada, Guadeloupe, Guatemala, Guyana, Haiti, Honduras, Jamaica, Martinique, Mexico, Montserrat,
Netherlands Antilles, Nicaragua, Panama, Paraguay, Peru, Puerto Rico, Saint Barthelemy, Saint Kitts and Nevis, Saint Lucia, Sint Maarten,
South Georgia-Sandwich Islands, St. Helena, St. Martin, St. Vincent and the Grenadines, Suriname, Trinidad and Tobago, Turks and Caicos
Islands, Uruguay, US Minor Outlying Islands, Venezuela, Virgin Islands, British, Virgin Islands, US
• North America: Canada, United States
30
Appendix: Student feedback and
additional resources needed by program type
31
Full-time, in person programs
32 Note: Survey Question: Why did you rate the following component(s) of your graduate program as poor or fair? Response format: open-end
Part-time, in person programs
33 Note: Survey Question: Why did you rate the following component(s) of your graduate program as poor or fair? Response format: open-end
Online, Flex, Hybrid programs
34 Note: Survey Question: Why did you rate the following component(s) of your graduate program as poor or fair? Response format: open-end
Full-time, in person
Note: Survey Question: What additional support or resources would you request from your school offices? Response format: open-ended.
35
Part-time, in person
Note: Survey Question: What additional support or resources would you request from your school offices? Response format: open-ended.
36
Online, Flex, Hybrid
Clearer career paths Recruiting assistance More challenging Use current real More support in Face-to-face
for students in courses and business general for part-time graduation
established careers electives examples instead or evening program ceremony
of outdated ones students
Choices and options Updated curriculum Make services
suitable for different that help students More interaction available for hybrid
majors develop applicable with students students
skills
A psychologist
Note: Survey Question: What additional support or resources would you request from your school offices? Response format: open-ended.
37
Contributors & Contact Information
Contributors
The following individuals at GMAC made significant contributions to the publication of this
report:
Alexandria Williams, Manager, Survey Research, survey management and data analysis;
Kun Yuan, PhD: Director, Research & Data Science, data analysis and manuscript
development; Sabrina White, Vice President, School & Industry Engagement, manuscript
review.
Contact Information
For questions or comments regarding the data or analysis presented in this report, please
contact the GMAC Research & Data Science Department at [email protected]
38
To learn more about our work, visit www.gmac.com.
The Graduate Management Admission Council™ (GMAC™) is a mission-driven association of leading graduate business schools worldwide.
Founded in 1953, we are committed to creating solutions for business schools and candidates to better discover, evaluate
and connect with each other. We work on behalf of the schools and the graduate management education community, and guide candidates on
their journey to higher education, to ensure that no talent goes undiscovered.
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