Despite the worrying financial health of the US and Canada, the MBA job market in North America has remained strong throughout the past year, although at a slower rate than in previous years.
However, looking forward to the next 12 months, employers are reluctant to commit to hiring further MBA graduates.
According to the QS Jobs and Salary Trends Report 2012-13, released this week, MBA recruitment levels in North America increased by 16% over the past year, and are predicted to increase by 2% over the next 12 months.
“A partial economic recovery, the stabilization of the financial services, the recovery of some manufacturing industries and the appearance of new mid-sized MBA employers on campus, have all contributed to growth in North America,” explains Nunzio Quacquarelli, managing director of QS Quacquarelli Symonds and author of the TopMBA report.
Over the next year, Quacquarelli forecasts that the MBA job market in some highly-skilled industries is likely to improve.
“Look for increased, yet still uncertain, upward trending in MBA recruiting in the 2013 academic year, with the technology sectors leading the way.”
“Also look for the pharmaceutical industry – a traditional destination for a significant number of MBAs – to continue recovery in 2013, with perhaps an increase in campus presence from smaller and less familiar firms.”
Meanwhile, MBA salaries in North America remain high, with average basic pay for MBA graduates increasing by 2%. However, due to employers cutting back on annual bonuses, overall MBA pay packages fell by 5% to rest at an average of almost US$114,000 in the US, and US$98,000 in Canada.
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