Education News South Africa

MBA earnings skyrocket

The worldwide average reported salary and bonus package for new MBA graduates jumped 10% in 2005 to a record R680 000 ahead of the previous 2001 peak. This increase reflects renewed competition for the best business school graduates, especially between banks and consulting firms, according to the latest annual TopMBA.com Global Salary and Recruitment Report.

According to Nunzio Quacquarelli, director of the QS World MBA Tour, the largest international programme of MBA information fairs, this development will directly affect MBA applicant numbers in 2006.

"Last year, the QS World MBA Tour, now a primary recruitment tool for the world's leading business schools, registered a 17% growth in candidate numbers, with over 70 000 MBA applicants meeting 350 business schools in 56 different cities around the world.

"In 2006, we expect a further 10-20% increase, as young professionals around the world pursue a qualification they see as opening the door to lucrative careers in financial services, consulting, marketing, financial and general management. That's also why we will be returning to Johannesburg this year as well as visiting new locations in Africa, such as Lagos in Nigeria."

Other authorities share Quacquarelli's positive view of business school application trends. GMAC, the Council, which runs the GMAT test for business school admission, confirms that the numbers of test takers has increased by over 10%, since August 2004.

David Wilson, President of GMAC observes: "We are seeing a broad-based recovery in numbers everywhere. It is not just full-time MBAs on a growth track. Part-time and Executive MBAs are also growing strongly."

The World MBA Tour enables potential candidates to meet face-to-face with admissions directors and to obtain a wide range of information on programme content, costs and duration, financial aid and post-qualification career options.

Seminars and workshops presented at the fairs and open to all to attend, cover wide-ranging issues such as choosing between specialist post-graduate courses and an MBA, picking the right school, financing an MBA, taking the GMAT test and preparing a winning application.

Candidates can pre-register to ensure fast-track entrance by visiting the website: www.topmba.com.

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