GMAC (Graduate Management Admission Council) recently conducted the 2015 Corporate Recruiters Survey. It provides the current employment scene and offers comprehension about hiring trends and practices across all industries and world regions.
According to the trends in 2014, more than 50% employers globally will increase starting packages for fresh MBA recruits this year in 2015. 30% of companies will offer the increment at the rate of inflation, and 21% will offer a rate higher than that. The average starting salary expected in 2015 for recent MBA graduates in US is $100,000 per year. This shows an increase of $5,000 over 2014 salaries and is almost double the expected starting package of $55,000 for students pursuing undergraduate degrees in 2015. Depending on the degree earned, employers expect recently graduated business candidates to have prior work experience average of two to four years.
GMAC’s survey results about hiring trends also shows remarkable growth in demand for data analytics, with 51% of companies surveyed stating that they plan to increase hiring for this job function in 2015. Last year the hiring was up to 44%.
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When asked to list three skills companies look for in business school graduates for the year 2015, analytics was the most frequently mentioned skill.
Q: Is GMAT harder than CAT?
Both GMAT and CAT entrance exams for MBA admissions. While CAT is required for Indian B-schools, GMAT is required for both Indian and international B-schools. GMAT is tougher than CAT because:
- GMAT records more applicants since it is accepted globally, which means there is a higher competition among applicants, in comparison to CAT.
- GMAT tests applicants holistically across its three broad sections - Quantitative Aptitude, Verbal Reasoning and Data Insights.
- Also, GMAT is tougher than CAT because, questions on GMAT have stronger emphasis on global business school entrance exams and their specific requirements. CAT only focuses on Indian business specific requirements.
Check: GMAT vs CAT: Key Differences
Q: Is the GRE exam easier than GMAT?
The GMAT test might be easy for those go prefer logical problems instead of Geometry as there are more Geometry questions in the GRE. In addition, the Quantitative section is harder in the GMAT in comparison to the GRE. The verbal section in the GRE can be difficult for non-native English speakers. Candidates can go back and forth in the GRE test, whereas in GMAT one doesn't have the freedom to save and return to each section during the exam. The decision to choose a test for studying abroad depends on various factors such the course requirement, university requirements, current level of preparation, comfort level with the exam pattern, etc.
Q: Do schools like Harvard prefer GRE or GMAT?
Harvard accepts both GRE and GMAT scores for admission, it depends on the type, of course, you are planning to do. So, check whether your degree programme requires you to submit GRE or GMAT score before applying. Particularly, they do not give preference to one exam over another. Moreover, you must assess your comfort level with the pattern of both the exams and then make a choice. The best way to do this is to appear for mock tests, for both the exams, before you make a decision. You must also check the course and university requirements for more clarity.
Q: What is the difference between GMAT and CAT?
GMAT or otherwise known as the Graduate Management Admission Test and Common Admission Test or commonly referred to as CAT are the two most widely accepted management entrance tests, scores of which are accepted by all the top B-schools, including the IIMs. The basic difference, between the two, is that while CAT is a national-level entrance exam for students looking for admission to Top Business Schools in India, GMAT is held on a global level and helps students for admission to top B-Schools worldwide. Conducted by Graduate Management Admission Council, GMAT scores are acceptable mainly in the case of NRI/Foreign students who want to study in India. The IIMs accept the GMAT score of domestic candidates for executive management programmes. Candidates can learn in-depth about the difference between GMAT and CAT exams.
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