Economic Uncertainty Increasing - But Not for MBAs

Survey: More Than Half of New MBAs Will Earn Over $150K Per Year

Strong Preference for Remote & Hybrid Work; Almost a Third Would Take Less Money In Exchange For Greater Flexibility

NEW YORK, June 16, 2022 /PRNewswire/ -- The Federal Reserve is tightening, markets are volatile and much of the nation is struggling with surging inflation and worried about a slowing economy. But those concerns seem a world away for most MBAs, many of whom will be earning more than $150K per year and looking for a more flexible working environment, according to the 14th annual Training The Street (TTS) MBA Employment Survey.

The survey of 318 students at the top business schools across the US between April 11 and May 27 reveals more than half - 53% - said they will be earning annualized salaries of over $150K per year, including 5% who will make over $200K annually. In addition, a large percentage of MBAs say they want to work either remotely or in a hybrid model – and many say they're willing to take a substantial monetary hit to do so.

The survey found just 12% said they prefer to work "fully in-person," compared with 53% who would like to be in person three to four days a week and 31% who would prefer one to two days a week in-person. Only 5% of students said they would like to be fully remote.

More than one quarter - 27% - said they would consider taking less compensation/a lower salary in exchange for the ability to work remotely full-time. Of those that said yes, almost half - 45% - would consider taking between $10,000 - $20,000 less in their annual salary for the ability to work remotely full-time.

"Despite the growing economic headwinds, newly-minted MBA students are in a great position because employers - from Wall Street to VCs, PE firms, consultancies, large companies, and promising startups - are all vying to lure top business-school graduates amid a very tight labor market," said Scott Rostan, CEO of TTS, the nation's largest financial services learning firm - which is the training gold-standard for finance and professional services firms, business professionals, and undergraduate and graduate students seeking careers in finance.

"We're also seeing a significant shift in the traditional Wall Street workplace as the pandemic altered the way we communicate and work across various industries and channels," Rostan added. "Flexibility and the option to work remotely are now important factors for prospective financial services employees."

Those surveyed expressed a high degree of satisfaction with job offers. Over three-quarters - 77% - of respondents reported feeling either "somewhat" or "very" satisfied with their recent job offers; only 11% of respondents said they feel dissatisfied with their job prospects. Additionally, only 4% of respondents reported not receiving a job offer yet - compared with 26% of respondents a year ago.

Also of note, in response to the question of where they see themselves working in five years, 39% of students said "private equity/venture capital/hedge fund," more than double the response from 2021, where 18% selected this category.

Methodology
The survey was conducted via SurveyMonkey in Q2 2022 between April 11^th to May 27^th. To collect the data used in this release, 318 students currently enrolled in a business school and pursuing an MBA were surveyed.

About Training The Street
Training The Street (TTS) is the world's leading provider of courses in accounting, asset management, capital markets, financial modeling and corporate valuation training to investment banks, financial institutions, consulting firms, federal government agencies, law firms, business schools, and top colleges. With offices in the financial hubs across the U.S., as well as London, India and Hong Kong, TTS boasts a deep field of expert instructors and extensive practical experience. Currently, TTS is offering live and virtual training programs to interns and full-time hires at nearly 200 banks and corporate businesses, including Wall Street's 10 largest banks.  Additionally, TTS leads workshops at more than 100 academic clients, including the top business schools globally. For more information, please visit www.trainingthestreet.com.

Media Contact:
Jeff Siegel / Ellie Johnson
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SOURCE Training The Street