Average
MBA salaries in the UK have fallen by approximately 24 per cent in real terms
since 1999, research finds.
A
survey into MBA salaries and careers carried out by MBAmatch reveals that
although salaries increase on average 18 per cent upon completion of an MBA
course, the average salary of an MBA within a few years of graduation is now
only £55,100 in comparison to £64,000 just three years ago.
Some
sectors and industries, however, fare considerably better than others in terms
of base salary, performance related pay and overall benefits.
For
example, the survey found those MBAs still working in management consultancy
earn on average £37,000 more in base salary than those employed within
education.
UK
regions also show differences in base salary, although the South West has now
caught up with the South East.
The
report also reveals an indication that base salaries of MBA graduates from
accredited and non-accredited business schools may vary by as much as £14,000.
Johann
Diaz, CEO and founder of MBAmatch, said: “It is tough to see such a huge
investment of time, money and commitment drop in value by almost 25 per cent in
just three years. This is a clear manifestation of the economic downturn, which
we in the UK have been experiencing for some time.
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“An
MBA is no longer seen as an automatic ticket to higher salaries and greater
rewards. MBA graduates must now prove their worth through having relevant past
experience, high quality demonstrable achievements and inspirational leadership
skills.”
