The survey found that 50 percent of the spring 2005 MBA graduates received or accepted job offers by mid-March. This year's MBA graduates are receiving more job offers for more money and are more satisfied with the value of their degrees than at any time since 2001.

"The acid test is employment," said David A. Wilson, president and CEO of the Graduate Management Admission Council. "And employers have spoken loudly and clearly about MBA graduates. More offers and more money."

Other top industries for MBAs include consulting, (returning after a three-year absence), healthcare/pharmaceuticals, and products/services. For the second year in a row, the nonprofit/government and high technology sectors are attracting the smallest numbers of MBAs.

Regardless of the industry they select, however, new MBAs say they place the potential for challenging and interesting work ahead of salary competitiveness when evaluating job opportunities.

In 2005, the average annual base salary anticipated by new MBAs who have accepted a job offer ($90,652) is at the highest level since 2001.

The emerging preference for organizations offering more structure and clearly defined responsibilities as opposed to cultures with less formal structure and fluid responsibilities represents the most significant shift in the corporate culture MBAs are seeking this year.

In 2002, 53 percent of MBAs preferred less formal structure-a characteristic more likely to be associated with entrepreneurial ventures and smaller companies; in 2005, 60 percent of graduates prefer organizations with more formal structure, generally a characteristic of larger companies.

"This shift comes as no surprise and is completely consistent with what we know about the Millennial Generation's corporate culture preferences," said Wilson. "As a group, they are viewed as long-term planners. They are more risk-averse and team-oriented than previous generations."

A total of 5,829 MBA graduates from 129 business schools participated in the survey, which is conducted annually by GMAC. Forty-two percent of respondents were non-U.S. citizens representing 109 countries.