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Mike Holmes of www.global-workplace.com observes, "We have seen that salaries in the industrial (non-service) sector have remained robust throughout the last five years. However, with so many service companies re-entering the market and hiring more aggressively, there is now strong upward pressure on salaries in all sectors."

In 2006, average consulting base salaries in North America and Europe at US$ 94,000 have, once again, overtaken those in financial services at US$ 93,800. After many years of the base salaries in consulting surpassing those in financial services, the latter edged ahead in 2003, again in 2004, but have fallen behind again since 2005. This reinforces the view that both sectors are vying for the same talent are setting salaries relative to each other.

Banking salaries for fresh MBAs reached as high as $ 155,000, amongst this year's respondents and as low as $ 20,000 in some emerging markets. Consulting salaries for fresh MBA hires reached a high of US$ 145,000 and a low of $ 32,000 in emerging markets. These salaries look unlikely to slacken off, given the forecast increases in demand for MBAs by consultants and banks over the next few years.

There also seems to be a relationship between general industry and technology salaries. During the dotcom boom of the late nineties, technology salaries were consistently 10% above industry salaries. In the subsequent technology crash, industrial salaries jumped ahead, but have now slipped again as technology firms around the world start hunting for talent.

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Back to Index International MBA Recruitment & Salary Report 2006

Source: -
QS World MBA Tour - QS TopMBA.com International Recruiter Survey 2006
© QS Quacquarelli Symonds Ltd. 2006
Website: www.topmba.com