The average MBA salaries in the U.S. have hit a record high this year, but fewer U.S. employers are hiring, a survey showed.
Median MBA salaries in the U.S.
Data from the Graduate Management Admission Council (GMAC)’s Corporate Recruiters Survey 2019 showed that the median annual starting salary that U.S. employers intend to offer new MBA hires this year more than doubled to $115,000.
At least more than half (56%) of companies in the U.S. are planning to increase MBA salaries. They intend to offer an average annual base starting salary of $80,000 to Master in Management hires.
On top of that, the data also showed that more than 1 in 2 companies (58%) in the U.S. plan to offer more than $10,000 average signing bonus.
The survey involved 1,202 employers in 45 countries worldwide. It covers hiring patterns for MBA and specialized masters program graduates across regions and industries.
In the U.S., industries which reported the highest median MBA starting salaries are consulting and finance at $135,000 and $125,000, respectively. This is consistent with global trends.
Unfortunately, the survey also showed that U.S.-based firms are not the most welcoming employers to international students
Nearly 8 in 10 or 77% of employers in the U.S. intend to hire MBA graduates this year. The projection, however, is lower for the second consecutive year.
Asia-Pacific firms are the most welcoming employers with about 9 in 10 (87%) planning to hire MBAs this year.
Taking an MBA degree in the U.S. is very costly. An MBA degree at Harvard University will cost $150,000 in tuition fees alone.
Median MBA salaries across the world
European companies plan to hire new MBAs for a $95,000 offer while those based in Asia-Pacific is $45,000. They intend to offer only $35,000 to Master in Management, which is equal to what they plan to provide bachelor’s hire.
6 in 10 (63%) companies in the Asia Pacific plans to increase median salaries while only about 5 in 10 (49%) will do so in Europe.
European employers plan to offer only $35,000, which is equal to what they plan to provide bachelor’s hires.