GMAC Survey 2014: Application Trends for Europe
Applications and Career Trends Barbara Bierach / 10-08-2014
Good news for all MBA students: 61 per cent of employers in Europe plan to hire MBA, Master in Management, and Master of Accounting graduates in 2014. And the salaries paid are not too bad, either.
The median base salary for recent MBAs in Europe in 2014 is 69,000 dollars, and reflects a salary premium of 28,000 dollars over expected starting pay for recipients of bachelor’s degrees, who will earn a median of 41,000 dollars, according to GMAC's latest Application Trends Survey. This analysis provides programme-level data on the demand for business schools worldwide in 2014 as compared with the previous year. The results are based on a total of 748 programmes from 314 universities in 32 countries around the globe. In Europe, 41 Business Schools for 108 programmes participated in the survey, including France, Germany, Ireland, Italy, Latvia, Netherlands, Russian Federation, Slovenia, Spain, Switzerland, Ukraine, United Kingdom of Great Britain and Northern Ireland.
Applicant interest increased for 38 per cent of full-time one-year MBA programmes in Europe, while 62 per cent report an overall drop in volume. Declining interest from foreign applicants may be driving volume down for some full-time one-year MBA programmes, according to GMAC: 88 per cent of applicants to European full-time one-year MBA programmes are non-citizens; greater than the shares reported on average for year-long MBA programmes in the USA (44 per cent non-citizens), or all year-long programmes globally (56 per cent non-citizens).
Executive MBA Programmes: The percentage of European programmes reporting either increased or decreased application volume are split evenly (40 per cent report increased application volume, 40 per cent report declining numbers).
Master of Finance Programmes: 56 per cent of European programmes report domestic growth in application volumes.
Master in Management Programmes: 69 per cent of this year’s applicants to European management programmes reside outside of Europe.
The flow of foreign candidates is always shifting, and the Application Trends Survey tries to capture some of these trends by asking programmes to identify the countries from which they receive the greatest number of foreign applications. The top countries where European programmes recruited the most foreign candidates were China, United States, United Kingdom, India, Germany, Russia, Thailand and France.
Global summary report now available at www.gmac.com/applicationtrends