[photopress:CSOM_China.jpg,full,alignright]An article in CNN by Peter Walker deals with a new survey which shows there is a booming market for MBAs. The TopMBA.com International MBA Recruitment and Salary Report 2006 surveyed 445 companies in 33 different countries.
According to the findings, the call for new MBAs among recruiters worldwide will set records in 2006, with an overall 24 per cent increase in demand, rising to 38 per cent in the consulting sector. During this year, average MBA salaries have increased by 7.5 per cent, according to the survey, 5 per cent more than the average inflation rate in the main industrialized nations.
The report’s authors, QS Research, said that among the employers surveyed, 35 per cent of employers expect to increase MBA hiring in the next 12 months against just 3 per cent who anticipate a decrease.
Outside of the traditional MBA hotbeds of North America and Western Europe, MBA salaries are gradually catching up in developing markets — while there is still a 30 per cent salary gap between the highest and lowest paid regions, this gap is narrowing each year.
Michael Yang, general marketing manager of Motorola (China), said, ‘More and more MBAs are joining Chinese companies from international MBA programs and Asian MBA business schools. I think the attraction for these MBAs is not the starting salary, but the growing opportunity. For example, the average MBA salary growth rate is higher than 15 per cent per year here in China.’