Employers in the US and Canada targeted holders of the MBA degree with renewed relish between 2014 and 2015. Indeed, the number of new job opportunities available to MBA graduates in North America rose by a whopping 26% in this timeframe, according to an annual survey of MBA jobs and salary trends around the world performed by QS, organizers of the QS World MBA Tour, which comes to the Marina Del Rey Marriott on September 17th.
That’s pretty good going when you consider that the existing size of the MBA employment markets in the US and Canada – the first two countries to offer the qualification – are currently the first and fifth-largest in the world.
Employers in the US and Canada also appear to be increasingly outward-looking when it comes to their recruiting efforts. While only 19% of employers told us that they were hiring on a global scale in 2014, this proportion doubled, to 38%, last year – a strong indication of their capacity and desire to expand their business interests. Indeed, pursuing plans for growth and expansion are often central reasons why employers wish to hire those who can list an MBA qualification among their management credentials in the first place.
Opportunity backed by financial rewards
As well as the opportunities, the financial rewards are there too. Employers in the US told us they paid new MBA hires an average of US$103,300 in base salary across 2014/15. This compares very favorably to the equivalent figures on offer from employers outside North America, ranking fourth for salary in the world last year, in QS’s analysis.
While many prospective MBA students today are motivated by more than mere money alone, these salary figures are important if only because of the investment – in program fees and foregone salary – one must make to enroll in a top program. The increase in salary you can expect to look forward to on graduation is a critical aspect of your subsequent return on this investment (ROI). We’re not just talking about a hike in salary, pre to post-MBA, here. In QS’s MBA ROI report for North America, our researchers estimated that a graduate of an MBA taken in the US or Canada stood to earn a return of US$0.5 million a decade on from the completion of their degree, and a staggering US$2.57 million after 20 years.
If you’re looking to learn more about the MBA programs offered by leading business schools both in North America and around the world, why not come to the QS World MBA Tour event in Los Angeles on Saturday, September 17th from 1:30pm? By attending, you can speak directly with admissions directors and you’ll also become eligible for QS’s exclusive MBA scholarships! You can get free entry simply by clicking here, because you are a member of Business Mixers.