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MBA salaries in Eastern Europe and Central Asia
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Things are looking bright for Eastern Europe and Central Asia (EECA) this year, with basic MBA salaries growing a huge 15% since last year, to an average of US$57,000, according to our latest Jobs and Salary Trends Report 2018. This shows a marked recovery from the last few years with salaries now higher than they’ve ever been. That being said, bonuses have diminished somewhat this year, meaning that combined salaries and bonuses in the region have actually decreased by 6% year-on-year and highlights the fluctuating nature of bonuses in any region.
It’s also good news for demand in the region. Consulting and professional roles have increased by 22% in the last year, while technology positions have risen by a huge 35%. Future projections also look promising, with an average of 8% increase in MBA job positions looking forward to 2020.
This is all underpinned by strong growth in certain counties. In Russia, there was an increase in demand for IT services and the construction/ property sector. Unfortunately, this was counteracted by a drop in the demand for MBAs in the public sector and the charity sector.
A strengthening sector
Russia might be the world’s largest country, but it would be wrong to attribute all of this success to just the one nation. The economies of Eastern Europe, in general, are growing. The forecasted economic growth for the region is 2.5%, 0.3% higher than earlier this year. In 2018, it’s predicted to grow by a further 2.6%. Not only that, but many successful companies have grown out the region. Skype, TransferWise, Adobe and Prezi to name just a few.
In Central Asia the picture is equally positive, with countries in this region implementing a number of reforms to help spur economic growth.
Amelia Hopkins is a writer for TopMBA, covering the latest news in business and business education. A graduate of the University of Leeds and Yorkshire native, she enjoys reading, travelling and talking incessantly about the countryside.
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