2015 Trends : MBA salaries & recruitment
According to QS TopMBA.com Jobs & Salary Trends Report 2015, MBA salaries increased across the globe, with a huge increase of 15% in MBA salaries in North America in 2014. Globally, MBA recruitment opportunities increased by 8% in 2014, with a growth prediction of 12% for 2015, thanks to a boom in MBA jobs in the tech industry. Plus, MBA recruiters spoke of their requirement for new hires to have international study experience. We take a look at the top trends in MBA recruitment and MBA salaries in 2015…
Every year, QS TopMBA.com produce their Jobs & Salary Trends Report. Their 2014/2015 report surveyed 5,669 MBA recruiters worldwide, including 1,632 new respondents, to understand key trends in MBA recruitment and MBA salaries. The report covers MBA job trends by world region and by industry, key MBA skills desired by recruiters, as well as an overview of MBA salaries across the world.
Read the report in full here.
MBA Salaries increased by 15% to an average $128,600 in US
The QS TopMBA.com Jobs & Salary Trends Report found a global increase in average MBA salaries across the world. MBA salaries by region in 2014 were as follows:
- Average MBA salaries in North America increased by 15% to $128,600 (compared to $112,200), with salaries of $97,700 and bonus of $30,900 in 2014.
- Average MBA salaries in Western Europe grew by 3% to $112,600 in 2014 (compared to $109,100).
- Average MBA salaries in Central & Eastern Europe are $72,700, up 6%.
- Average MBA salaries in Asia-Pacific fell slightly by 2% to $86,000 after several years of strong growth. MBA salaries in this region remained at $68,000, with a reduction in bonuses seen in 2014.
- Average MBA salaries in Latin America, at $71,400, and Middle East, at $70,300, were both slightly down in 2014, compared to 2013.
The top ten countries in terms of average domestic MBA salaries in 2014 are: Switzerland ($122,000), Australia ($115,600), Denmark ($112,000), UK ($98,000), USA ($93,200), France ($89,800), Germany ($89,800), Spain ($83,100), Japan ($83,000), and Canada ($87,500).
MBA Recruitment to increase by 12% in 2015
According to the QS TopMBA.com Jobs & Salary Trends Report 2014-2015, there was an overall worldwide increase of 8% in MBA recruitment in 2014, a decrease from the 14% growth experienced in 2013, but still very favourable compared to OECD GDP growth, with employers forecasting a healthy 12% growth in MBA demand in 2015.
- North America saw a strong increase in MBA recruitment of 10% in 2014, with a 9% increase predicted for 2015.
- The Asian market for MBA recruitment continue to boom, seeing 11% growth in 2014, with a prediction of 8% growth in 2015. Demand for MBAs in China in particular is strong and getting stronger, now ranked as the third largest MBA market in the world. Similarly for the last few years, the most dynamic MBA market has been India, which has experienced an explosion in MBA recruitment, seeing similar levels to the USA in terms of volume of reported MBA jobs for fresh graduates.
- Latin America also saw 7% growth in MBA opportunities in 2014, with a prediction of 8% growth in 2015.
MBA Salaries: Growing global opportunities in tech industry
A key trend seen during 2014 was the growth in MBA jobs in the technology sector, which is now recruiting in almost every region of the world. High-tech/electronics companies reported 11% growth in demand in 2014, with a prediction of 8% worldwide growth in 2015. IT/computer services companies reported 8% growth, with a prediction of 12% growth for 2015, while telecoms reported 7% growth, with 11% predicted rise in MBA recruitment in 2015.
Technology companies like Google, Amazon and IBM are leading the growth in demand for MBA graduates in the US. Miriam Park, responsible for Amazon’s MBA recruiting team, says, “We love MBAs because they’re strong analytical thinkers and problem solvers. They are a strong pipeline of leadership talent for the long-term.” Similarly Kyle Ewing, head of Google’s global staffing programs says “MBAs at Google find plenty of opportunities to do cool things that matter, whether in product management, sales and finance, marketing, people operations and everything in between. While we value all levels and types of education, we look for MBA candidates with creativity, passion, and a healthy disregard for the impossible.”
Other growing sectors included consultancy, seeing 9% growth in MBA demand in 2014 with a prediction of 8% growth in 2015. Energy, although relatively small in volume reported 18% growth in MBA demand in 2014, media reported 11% growth, consumer goods saw 12% growth and manufacturing reported 10% growth. Following a slight lull in recent years, pharmaceuticals reported 9% growth in demand for MBA participants and financial services, which traditionally accounted for one third of MBA demand continues to recover, reporting over growth of 7%.
MBA Recruitment: International study experience a key requirement
A key finding throughout the Jobs & Salary Trends Report 2014-2015 was that 67% of MBA employers sought international study experience from new hires. Recruiters strongly agree that screening for language skills and inter-cultural communication skills is an important part of the hiring process, and that candidates with international experience outperform those without. An individual’s ability to adapt to different norms and customs is increasing required by global organisations competing in rapidly changing environments.
EMLYON Business School’s Master Business Administration programme features a highly diverse cohort to ensure a richly varied learning environment. During the programme, you will benefit from studying, living and working with professionals from around the globe, thus enhancing your ability to work with and lead international and intercultural teams.
The International MBA programme features several international learning trips in order to discover management styles of other countries and explore contextual factors. Participants of the International MBA programme can also choose to complete an international exchange to develop critical cross-cultural business awareness and develop an international professional network. EMLYON Business School has partnership with leading Universities and Business Schools across China, Brazil, Japan, Singapore, South Africa, the USA, Canada and Australia, along with Business Schools throughout Europe.
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