Which Countries Pay the Best MBA Salaries?

Tuesday, September 05, 2017 at 1am

The 2016/2017 edition of the QS TopMBA.com Jobs and Salary Trend Report described the highest salaries MBAs can expect around the world, but what does this mean in real terms?

Does a US$108,250 annual salary in Australia buy you as much as a US$91,600 salary in the UK? To break down which salary is actually highest, we’ve used Numbeo’s cost-of-living tool to analyze the relative average cost of living in each of these nations and discovered how much you’d need to match that elsewhere.

 

Average salary (USD) by country:

Australia: $108,250
United States: $100,714
Canada: $92,500
Ireland: $92,125
United Kingdom: $91,600
Singapore: $90,700

Australia:

The Land Down Under might offer outstanding natural beauty, incredible weather and, according to our data, the best salaries for MBA graduates in the world, but how far does that money actually go? Does the cost of living outweigh the benefits of this remarkable salary?

Well, it might. Australia is a relatively expensive country to live in – in the US for instance, consumer pricing, including rent, is 11.49% lower than in Australia. This means that whatever you can buy for the yearly Australian MBA salary, you could get in the US for $95,812, around $4,000 less than the average salary! The same is true in Canada and the UK, where average MBA salaries exceed the purchasing power of an Australian salary in Australia. On the other hand, Ireland and Singapore are both more expensive destinations.

USA:

The US boasts some of the world’s best MBA courses and the second-highest average MBA salary on this list, at $100,714. How does this compare to the other nations?

The results are mixed. Despite being one of the world’s more expensive countries, the high salary does seem to make up for it to a degree. Only Canada offers better value for money, with MBAs needing $2,000 less than the average salary to maintain the same lifestyle. In the UK, the slightly cheaper cost-of-living does not quite offset the lower salary. Australia, Ireland, and Singapore are all more expensive destinations, requiring more income for the same quality of life.

Ireland:

Picturesque Ireland is home to a booming start-up sector, links to Europe’s major financial hubs and an incredibly charming accent…and one of the highest costs of living on this list.

For every country on this list apart from Singapore, MBAs require less than the average salaries to maintain a similar lifestyle – in fact, the statistics show that for the UK, Canada, and the US you’d need between $10,000 and $20,000 a year less for the same quality of life you’d achieve in Ireland.

UK:

The UK is another mixed picture. While it offers better value for money than Ireland and Singapore, and slightly better value for money than Australia (but only marginally), the average MBA salaries in the US and Canada offer a much better standard of living there than you could attain in the UK for the same salary.

Singapore:

Unsurprisingly, the city state and global financial center is the most expensive destination on this list. You’d need decidedly less funds in any other nation on this list to enjoy an equivalent standard of living.

Canada:

Offering some of the world’s most stunning landscapes, a rich cultural heritage, and a global reputation or friendliness, Canada also offers the best value for money on this list. To maintain the same lifestyle you can experience in Canada, you’d need more than the corresponding average MBA salaries in every other country in the top six.

So technically speaking, Canada offers the best MBA salaries this year! In terms of purchasing power at least…

 

Originally posted on www.topmba.com

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