MBA Recruitment and Salary Levels by Region 2018
QS is the world’s leader in bringing employers and business students together through information and special events. This allows them to produce a yearly survey on MBA Recruitment & Salary Levels by Region. Naturally, we thought this might interest you, so this blogpost presents you with the main findings of the 2018 study.
North America: Where your MBA is worth the most
2017 saw a 10% increase in hiring levels in the US and in Canada, against employers’ stated intentions of hiring just 3% more MBAs than in the previous year. Based (also) on this happy discrepancy, QS forecasts of a 7% increase in MBA hiring in North America for 2018.
The news gets even better when it comes to salaries, which are now similar to 2015’s record-high figures. In fact, average total compensation packages for the US and Canada are only surpassed in Switzerland.
Asia-Pacific: Where the growth of the market has generated more opportunities for MBAs
The actual hiring of MBAs in the Asia-Pacific region in 2017 was of 18% (employers’ predictions had been of 13%). As the market matures, however, these figures are expected to come down – so if your plan is to move to the region, do it fast!
In 2017, the average total compensation for MBAs was US$85,900 (€73.310), a little lower than in 2016. Yet remember that living in some of the region’s major countries is generally cheaper than in the US, Canada or Europe. Australia, Singapore, and Japan are the countries with the highest total pay packages in Asia-Pacific.
Africa & Middle East: The situation may get better in 2019
Africa and the Middle East is the one region that didn’t exceed predicted hiring levels. There was a 2% increase in hiring, and the forecast for 2018 is negative (-2%). Having said that, employers seem confident in a recovery in 2019. QS suggests that this is perhaps due to their expectations concerning the end of the crisis created by fluctuating oil prices.
Salaries in Africa and in the Middle East are up 16% year-on-year. However, the fluctuation of bonus packages means that overall compensation has stagnated in 2017 (US$90,700 or €77.420). As is the case in some Asia Pacific countries, these figures must be studied taking into account an overall lower cost of living
Latin America: Where hiring and salaries for MBAs are steadily on the rise
MBAs’ hiring in Latin America grew 11% in 2017, indeed twice as much as had been predicted. Even better, employers expect to see comparable increases in 2018 (9%) and 2019 (10%).
Salaries and average total compensation have also been going up; US$75,900 (€64.794) is the current average pay an MBA may expect to get in the region. If you’re aiming for the big Latino bucks, though, go to Chile, Argentina, Mexico or Colombia.
Eastern Europe & Central Asia (EECA): More opportunities, less money
In EECA, the hiring of MBAs increased 12% in 2017, yet employers seem reticent regarding 2018 and 2019. QS advances the hypothesis that the football World Cup in Russia helps relaunch the region’s economy – and the actual hiring of MBAs over the next two years.
An MBA in EECA may expect an average salary of US$57,000 (€48.638), meaning that the region presents the lowest total compensation level in the world. Again, giving the low cost of living, it’s still worth doing the math.
Western Europe: Good hiring numbers and unbeatable salaries in Switzerland
Despite political uncertainty, MBAs are finding a lot more jobs in Western Europe than anticipated (the actual increase in 2017 was 10%, against a prediction of 2%). Employers remain cautiously optimistic regarding 2018 and 2019.
Recommended: Why you should consider Portugal for your MBA?
Not surprisingly, the United Kingdom, France, Italy, and Germany are some of the countries where MBAs get higher salaries. Yet none of them come close to Switzerland, where the average total compensation for MBAs is an extraordinary US$140,900 (€120.156).
Still having doubts about where to go after your MBA? Then talk to our team and feel free to download our ebook below.
