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MBA Salaries in North America
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North America boasts the highest MBA salaries in the world for the 6th year running - this year topping the chart in our Jobs & Salary Trends Report 2018 with an eye-watering average of US$98,900 (or US$116,300 when bonuses are included).
Like other regions around the globe, this shows a significant recovery from the last couple of years when wages dipped. However, while the basic salary has increased by 8% this year, total packages with bonuses factored in have actually slightly decreased by 2% - and is dramatically less than the record US$132,400 figure seen in 2014.
The region has also seen an increase in MBA demand, which, while not remarkable, still exceeded last year’s prediction. Future demand predictions are optimistic but reserved - the unpredictable political situation has almost certainly had an effect on the results. Unsurprisingly, the technology industry has seen the highest demand growth this year at 22%; demand in financial services has increased by 4%, and in consulting and professional services it has grown by 7%. The future also looks bright, with a forecasted increase in MBA demand across all industries averaging 10%.
Economic influences
Despite hope that a Trump presidency might result in increased economic growth in the USA, the reality has been different. The IMF lowered economic growth forecasts for the USA both for this year and the next. The cause of this downturn was ‘uncertainty’ over some of the White House's fiscal policies. Undoubtedly, this has affected forecasted predictions for recruitment in the nation, nevertheless, the originator of the degree is still a popular destination for MBA graduates.
In Canada the picture is very different. The country is the top G7 economy this year and has continually beaten economic predictions. The IMF has upgraded its global economic forecast to 3.7% for 2018, so the prospects are bright for MBAs north of the border.
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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