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MBA graduates from Australia are being paid the highest salaries worldwide, earning a total of US$133,100 (S$ 166,144) a year.
According to the QS TopMBA.com Jobs and Salary Trends Report for 2013/14, business administration graduates from Switzerland (S$161,895) came in second place, followed by Denmark (S$151,537) and UK(S$132,439).
The Asia region reported the highest rate of MBA hiring (20%), ahead of Middle East (8%), Latin America (6%), and Central Europe (6%). The Asia region figures are also not expected to slow down, and are predicted to hit 38% in 2014.
And while regional employers are still willing to offer higher salaries for graduates from “top North American, European and Australian business schools”, the rise of “an elite cadre of Asian business schools” is underway – though the report said it could still be a decade before this trend will fully establish.
Globally, there was an overall 14% growth in MBA hiring, with the demand highest in Asian countries; India and China reported 29% and 35% MBA hiring increments, respectively.
“This is especially evident in consulting and professional services, manufacturing, IT and computer services, finance and micro-finance,” the report said.
India has overtaken the US when it comes to MBA job opportunities since 2011 and, even though they are being paid less, “their salaries still compare very favourably with less qualified local managers”.
The highest average Australian MBA salaries were for graduates from MGSM, Macquarie University (S$179,024), Melbourne Business School (S$139,883) and La Trobe University (S$137,384).