London — Feb. 14
MBA graduates continue to achieve high salaries, beating averages from a decade ago, according to the latest research from the Association of MBAs (AMBA).
The AMBA Careers Survey 2013 also revealed that twice as many MBAs are working in the public sector and more female MBAs are entering the legal profession than in previous years.
MBA graduates from business schools with AMBA accreditation are receiving the highest average salary in the U.K. since 2004, and 11 percent more graduates reported earning above 70,000 pounds compared to those surveyed in AMBA’s previous survey in 2010.
The survey found that the average salary of MBA graduates from AMBA-accredited business schools working in the U.K. now stands at more than 82,000 pounds, the highest since 2004. The median salary, including variable cash, such as bonuses, stands at 90,000 pounds. That is a 7 percent increase on the same salary in 2010.
The research, conducted among 1,000 graduates from AMBA-accredited business schools, demonstrated that the MBA continues to open the door to more senior roles and that MBA graduates work across a diverse range of sectors. It also revealed a shift in the representation of female MBA graduates in the workplace.
The number of MBA graduates working in the public sector doubled, according to the survey, with almost one in 10 MBA graduates now working in this sector since AMBA’s last survey in 2010.
The public service also has a strong representation of women, the survey found, with 41 percent of female MBA graduates working in public service.
The survey showed a growth in female MBA graduates in the legal profession as well. Compared with 2010, there was a 67 percent increase in women who reported working in the legal field.
There is a strong representation of MBA graduates in all sectors. The survey found that 15 percent of the graduates surveyed worked in consulting; 11 percent in finance; 10 percent in industry; 9 percent in health care; 9 percent in public service; 5 percent energy; and 5 percent in consumer goods.
Within 10 years of gaining an MBA, more than half of all graduates surveyed were either in senior management, CEO or directorship positions.
Source: the Association of MBAsFiled under: Performance Management