High salaries of MBA graduates in finance highlight sector recovery
Date
9/12/2024 4:52:46 AM
(MENAFN) Recent data reveal a notable increase in salaries for MBA graduates working in the financial sector. According to the rankings, wages for those employed in banking, financial services, and insurance have risen by 4 percent from 2023, reaching an average of USD88,518 three years post-graduation. This growth rate surpasses that of MBA graduates in other sectors such as consulting and technology, where salaries average USD85,000 and USD84,000, respectively. This trend underscores the financial sector's robust recovery compared to other industries.
The latest rankings, provided by the University of St Gallen, highlight the resurgence of top business schools, with the Swiss institution reclaiming its position at the top after being ousted by Paris’ Ecole Supérieure d’Commerce last year. The 2024 list includes six leading French schools, as well as institutions from China, Portugal, Italy, and the Czech Republic. Notable entries include Shanghai Jiao Tong Antai, Tongji, London Business School, Nova in Portugal, Bocconi University, and the University of Prague.
The salary boost for MBA graduates in finance aligns with broader trends showing higher earnings for graduates from specialized programs, who are expected to earn an average of USD90,000 in 2024 compared to USD81,000 for general MBA graduates. Despite progress, a gender pay gap remains, though it has decreased to 9 percent in 2024 from a peak of 17 percent in 2019. The FT rankings consider various factors including salary data, career advancement, alumni network quality, gender diversity, and institutional commitment to sustainability and governance. Schools must meet accreditation and participation criteria to be included in the rankings.
MENAFN12092024000045015682ID1108665527
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.