2013/14 MBA Jobs and MBA Salary: Some Key Trends

As expected, consultancy jobs are on the up, with 11% growth in the sector. Much of this growth comes from small firms, rather than the traditional juggernauts. However, the big story is the technology sectors (technology and telecoms), which have enjoyed an era of unprecedented growth, as employers increasingly look to MBAs to stay competitive. Other sectors have not fared as well – notably, it seems like the metals and mining boom may finally be over.

There is an increasing tendency for MBA employers to look globally or at least pan-regionally for their hires – though, as ever, great differences exist between regions. As in previous years, MBA employers are somewhat unsatisfied with certain aspects of MBAs they take on. While their technical skills are largely meeting expectations, there still exists some questions over soft skills. MBA employers are also increasingly looking for more experience in their hires; for the sixth year running, there has been a drop in MBA employer demand for candidates with 1-3 years of work experience.

In every region but Eastern Europe, average MBA salaries have gone up (though in Latin America the growth is nominal). The largest growth occurred in the Asia Pacific region, though MBA salary levels there still remain considerably lower than in Europe and the US & Canada, with the latter still leading the way with an average MBA salary and bonus of US$109,191. This growth has been largely driven by an increase the size of bonuses, with sign-on bonuses complementing performance-related bonuses. Australia and Switzerland still lead the way in terms of compensation.

While six figures salaries are the norm for elite strategy consulting firms and investment banks in Europe and the US, they no longer offer the highest MBA salaries. Metals and mining leads the way, with pharmaceuticals dropping to second and construction and property in third spot. Interestingly, MBA salary levels at consulting and professional services firms have actually dropped slightly, though this may be related to smaller firms entering the fray.

For more detail and many more findings, read the 2013/14 TopMBA.com Jobs and Salary Trends Report.