Studying for an MBA to increase your salary
Does an MBA help to increase your salary ? Yes, MBAs are well-known for helping graduates earn a much more attractive salary immediately after graduating. So, in France for example, the average gross salary of a fresh MBA graduate, i.e. with less than 12 months’ experience, ranges between an average of €32,000 and €38,000 a year, not counting bonuses.
MBA graduates with significant professional experience may expect a post-MBA gross salary ranging from €42,000 to €60,000 a year.
As for salary increases, MBA graduates generally obtain salary increases of 20% to 30% after their MBA course. Five years after graduating, this reaches 50%.
In the USA, recent research shows that the salary of MBA graduates increased by around 46%. Meaning that they report an average salary of $36,742 more than their colleagues without a diploma.
On top of salary increases, there are other ways of measuring your return on investment for an MBA. For example, 88% of graduates of the Global Executive MBA at KEDGE experienced personal change in the two years after graduating from the programme and 70% changed position while still studying for their MBA.
How does salary vary according to industry among MBA graduates ?
Here is a list of industries with the highest salary increases for MBA graduates, in decreasing order:
- Agrifood industry: 65% increase (no MBA: $63,069 / post-MBA: $104,319)
- Consulting firms: 54% increase (average salary without an MBA ; $86,187 / average salary post-MBA: $132,601)
- Portfolio management: 47% (no MBA: $82,531 / post-MBA: $121,376)
- Capital investment: 38% (no MBA: $98,393 / post-MBA: $136,132)
- E-commerce and Internet: 43% (no MBA: $85,134 / post-MBA: $121,897)
Other lines of business such as retail or property also offer considerable increases in post-MBA salary. The average salary of an MBA graduate also varies according to their exact profession and position.
In which countries do MBA graduates earn the most ?
The salaries of part-time MBA students also vary according to the country they work in. Here are the top five post-MBA salaries worldwide (gross annual salary including bonuses, expressed in US dollars):
- Australia: $133,100
- Switzerland: $129,700
- Denmark: $121,400
- UK: $106,100
- France and the USA tied: $98,300
These countries rank next in terms of highest post-MBA salaries : Brazil $97,200, Germany $93,700, Spain $92,900 and Canada $91,600.