MBA Salary Guide: Everything you need to know
Average MBA salary in the UK: How much do MBAs earn?
Graduates from some of the top UK MBA programs enjoy significant salary increases after their MBA. The average post-MBA salary for London Business School alumni three years after graduation was listed as USD $188,432 in the 2021 FT MBA rankings. Cambridge and Oxford MBAs both averaged around USD $167,000 whilst Manchester and Warwick were around £130,000.
Does an MBA increase salary?
In almost all cases, yes. As you can see below, the average MBA graduate achieves a significant salary increase in their post-MBA career. However this isn’t a guarantee and students who use their MBA to transition away from highly lucrative fields such as investment banking or law, may find their salary trajectory slows down or even that they take a pay cut. When you ask yourself the question ‘Why do an MBA?’, salary may be a big part of the answer, but it shouldn’t be the only consideration.
Online MBA salary increase: Do online MBAs earn as much as full time/executive MBAs?
The top online MBA program in the world, at Warwick Business School, sees its graduates earning an average of USD $207,725 a year according to the FT MBA rankings. However the percentage salary increase for online MBA programs is much smaller - around the 30-35% mark for top programs. This suggests that some online MBA students may be higher earners to begin with.
Average MBA salary 5 years after graduation: How much does it increase?
This obviously depends on the sector you enter as well as the school you go to, but schools in the top 10 of the FT MBA rankings have salary increases of between 96% and 156% at three years after graduation. So if you plan your post-MBA career well, you should be looking a solid salary increase that offsets the cost of an MBA.
MBA internship salary: How much can I expect?
This depends on the nature of your internship. If you are doing a full time MBA internship during the summer period then you can generally expect quite a competitive salary, on par with what you could expect to make in a full time post-MBA role. However, schools in Europe with one year programs may offer less formal ‘projects’ over the summer where students work with a company but are not necessarily paid for their time. Check with your school to avoid any surprises.