You might be interested in earning an MBA for a number of reasons, but one of them, no matter how high on the list it may be, is probably related to that ever-present
MBA jobs salary. Sure, money isn’t everything, and you might be pursuing a graduate degree for other reasons, but a higher earning potential is certainly a big part of your decision. Earning an MBA requires not only a financial, but a personal investment of your time and dedication so you should also be financially rewarded for it. By this point, you’ve likely considered a number of factors that impact compensation, including your program, course of study, and chosen field, but it’s time to think big. And thinking big means thinking internationally. You know the saying that the world is your oyster? In this case, Europe is your oyster because European MBA graduates are out-earning their counterparts who have successfully completed their studies at even the top American business schools.
In recent years, the European economy has gotten a bad rap as the recession made working and living abroad less attractive. Tough employment laws made it more difficult for expats to find postgraduate work, and therefore, MBA programs have been less popular for international students. Things are turning around, especially because the numbers are in Europe’s favor. Statistics don’t lie, after all, and
MBA jobs salary figures are painting a great picture. Recent graduates of HEC Paris earned $124,000 USD per year in comparison to their counterparts from the University of Chicago, who earned $115,000 USD. In the UK, average MBA salaries hover around $106,000 USD, while average US MBA salaries are around $98,300.
You might be wondering why and how European MBAs can command such high salaries. Is it the program or is it the student population? There are a number of contributing factors to the
MBA jobs salary market in Europe. First, consider that MBA candidates in European programs tend to be older and they bring more years of work experience to the marketplace. Upon graduation, candidates may be highly sought after based on their knowledge and skills, as well as their enhanced capabilities from their education. Secondly, European MBA programs are very diverse, attracting talent from around the globe. Not only do students from emerging economies have a great differentiator, they also have the most to gain, earning over 153% more than their pre-MBA salaries.
If a financial motivator is not enough for you to consider applying to or enrolling in a European MBA program, consider that there are both academic and professional benefits to studying abroad. It might be easier to seek a career in the country in which you are studying; locals and program officials can help to familiarize you with local employment laws and assist in drawing connections to companies. The quality of applicants and the academic rankings continues to grow over time, with more applications coming in with each admissions season. The teacher-to-student ratios in European programs tend to be lower than in American programs and this can certainly benefit professionals hoping to get the most out of their education.
Given that the trend is still fairly new, now may be the perfect time to go overseas as an MBA student. Consider the idea that costs are similar and programs are very well respected across the world, it may be the perfect career move to help you achieve your career goals. It goes without saying that your peers will be some of the brightest and the best from countries around the world, and this can help you expand both your knowledge of business management and international relations. Of course, it doesn’t hurt that you might make more than your counterparts at home.
