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MBA salaries rising around the world, reveals international survey

New QS TopMBA.com Jobs and Salary Trends Report released

“With a growing sense of optimism among employers and the equalization of MBA salaries due to factors such as the standardization of MBA packages offered by multinationals and increased availability of salary information online, we’re confident that salary levels will return back to 2012 levels of increases, if not higher in 2014.” - Nunzio Quacquarelli, managing director of QS

For immediate release 

The annual QS TopMBA.com Jobs and Salary Trends Report, released today on TopMBA.com, reveals a near-global rise in MBA salaries and compensation around the world. 
 
The report, compiled by the team behind the QS World MBA Tour, found that with the exception of the Central European region, overall MBA compensation levels around the world has grown or remained at the same level. The region with the highest percentage increase in overall compensation was Asia-Pacific (8%), followed by Africa and the Middle East (5%). Latin America saw its compensation levels remain the same as 2012 after a record-level 20% increase from the previous year. 
 
The results are based on an annual survey of active MBA employers around the world. The report took into account 4,318 responses.
 
Global trends
 

  • Top countries by salary: Australia (US$133,100), Switzerland (US$129,700), Denmark (US$ 121,400, UK (US$106,100),  France (US100,800)
  • Compensation fluctuations from 2012-13: Asia- Pacific (+8%); Africa and Middle East (+5%); US and Canada (+4%); Western Europe (+4%); Latin America (0%); Central Europe (-5%)
  • Compensation gap between domestic and multinational employers: US and Canada (-13%); Latin America (-20%); Western Europe (-12%); Central Europe (-20%); Asia-Pacific (-27%)
  • Highest-paying sectors in 2013: metals and mining (US$191,200); pharmaceuticals (US$123,050); energy (US$110,300); financial services/banking (US$107,450); IT/ computer services (US$106,350)
  • Gradual equalization of MBA salaries around the world seen over the past decade

Nunzio Quacquarelli, managing director of QS says: “As predicted last year, global MBA salary levels have remained robust in 2013 but not increased at the same rate rapid rate as we witnessed in 2012.”
 
He continues, “With a growing sense of optimism among employers and the equalization of MBA salaries due to factors such as the standardisation of MBA packages offered by multinationals and increased availability of salary information online, we’re confident that salary levels will return back to 2012 levels of increases, if not higher in 2014.”
 
The report also revealed the downside to such high average salaries as some employers now have excessive performance expectations relative to non-MBA hires on lower salaries.
 
Patrick Smith, Bank of America, says: “[MBAs have] unrealistic expectations about starting salaries and the speed of advancement.”
 
Other MBA employers echo Smith’s views and believe salaries should not be an MBA graduate’s top priority. Sebastian Pav, director at Sage Solutions India believes the key to a successful MBA career is “making them understand not to focus too much on money in the initial phase of the career, but to focus on learning.”
 
The full report reveals further analysis on salary, experience and hiring trends by country, region and sector. The report can be downloaded here: www.topmba.com/JobsReport
 
For more information or to schedule an interview with Nunzio Quacquarelli, contact:
 
Vickie Chiu, PR manager
+44(0) 207 284 7292
vickie.chiu@qs.com

Simona Bizzozero, head of PR
+44(0) 7880620856
simona@qs.com

-Ends-

 

QS Jobs and Salary Trends Report


The report is compiled by the QS Intelligence Unit, the team behind the QS World University Rankings 2013/14 which was released on 10th September this year. 

The report is based on responses from the QS Global Employer Survey. QS collects primary data on the state of the recruitment market and predictions of future trends from recruiters in general industry, consulting, financial services and technology. QS obtains information directly from employers who hire MBA graduates, offering a unique up-to-date insight into salary and MBA jobs trends around the world. Each respondent is designated as being responsible for MBA recruiting within his or her company, whether as a whole or in a division. They are asked to identify their geographical responsibilities, confirming whether they recruit locally, regionally or globally. The data includes specific analyses by sector, 
geography and year. Time trend analysis as well as sector and regional variations have been incorporated into this final report.

Nunzio Quacquarelli
Nunzio is the managing director of QS and the QS World MBA Tour. He took his MBA at The Wharton School in the US after gaining an MA at the University of Cambridge in the UK. Before starting QS, Nunzio worked in strategy consulting for Mercer Management Consulting and Bain & Company.

QS World MBA Tour

The QS World MBA Tour offers a unique opportunity to meet admissions officers of the world's most influential business schools at venues around the world. Now in its eighteenth year, the tour consists of over 90 events across 48 countries around the world.

 

 


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