What Have We Learned from the MBA Jobs & Salary Trends Report 2015/16?

Rapid growth in MBA jobs across Asia-Pacific has been the standout positive story over the past few years. We anticipated, based on figures provided to us by employers, that this year’s report would show us a steadier and perhaps more sustainable growth level. Instead, we have been pleasantly surprised – it seems that the region’s employers continue to have an insatiable appetite for MBAs, reporting an 18% rise in MBA jobs over 2014/15. India and China drive this growth, with the job market in the latter in particular now coming to resemble its more mature Western counterparts. MBA salary levels across the region as a whole are largely improved this year, though there is of course a lot of variation.

The story elsewhere is not quite as positive. Eastern Europe (in which we include Central Asia) has seen a modest 4% growth in MBA jobs; a slower year in Russia has contributed to this, though Kazakhstan has had a better year. However, we do anticipate 2015/16 to be a much stronger year for the region.

We can say much the same of Latin America, with a contraction of new opportunities in Brazil meaning that the region as a whole only posts 1% growth. Mexico and Peru – Latin America’s other strongholds – have had a better year. Again, next year should be better, so the picture is certainly not all negative.

The world’s youngest MBA market in the Middle East & Africa grew by a solid 8%, though this is less than was predicted last year. We do see good growth in terms of salary levels though.

As we have found in previous years, the biggest shortcomings found in candidates hired into MBA jobs are soft skills. It seems both MBA candidates and schools have some questions to ask themselves in this area; but, we might also need to consider whether employers are expecting too much in this regard. Are soft skills something that can be taught in school, or do they have to be learned on the job? In terms of technical skills, there is a closer match between expectations and reality, and pleasingly, employers are satisfied with the levels of corporate social responsibility (CSR) shown by MBAs.

Perhaps relatable to the question of soft skills being learned on the job rather than at school, we are seeing a trend towards employers looking for hires in possession of more experience. In 2011, 27% of employers were looking for five years’ experience or more. This figure now stands at 33%. The proportion of employers targeting candidates with three years’ experience or less has fallen from 35% to 27% over the same time period.

While the picture is mixed, it seems fair to say that our research this year demonstrates the resilience of the MBA degree in an era of global change. It can still comfortably be considered the high watermark of graduate business education.

To find out more – including growth and salary levels by industry, long-term trends and an analysis of the functions into which MBAs are hired, download the full report for free!