Last year’s report was the first time INSEAD began reporting graduates in December and May. So, this year’s report reflects graduates from December 2016 and May 2017. It was also the first time average exchange rates were used to convert all currency to U.S. dollars. INSEAD releases one of the most detailed and transparent reports to come out of elite B-schools. For instance, the one change this year was adding financial technology (fintech) as a subcategory within Technology, Media, and Telecommunications (TMT). Out of the 20% of the class entering the TMT field, 11% took positions at fintech companies.
“The shift occurs and more INSEAD MBAs move into companies that embody the INSEAD value of business as a force for good,” INSEAD’s Global Director for the Career Development Center, Katy Montgomery said of the decision to include fintech in this year’s report. “These companies are improving people’s lives by fostering fairness and increasing transparency in the market.”
Of the 1029 graduates, 98% responded in some way to the career survey, while 85% gave details about their career decisions, and 75% provided full salary data. At the top of this year’s reported salary was a graduate entering “Corporate Services” in the United Kingdom, who reported a base salary of $285,100. A general manager also entering corporate services in the Africa/Middle East region reported a salary of $221,500. And a vice president/director in “Other Financial Services” reported earning $215,200 in Singapore. At the other end was a manager/consultant entering investment banking, sales, and trading in the Asia Pacific region earning base pay of just $22,900. At the bottom was a management consultant also in the Asia Pacific region, who reported a starting base salary of $22,000.
INSEAD has also tracked how specific countries have performed, salary-wise, over the past five years. When not converting to the same currency, no other country has seen an increase on the market value of the INSEAD MBA than Brazil, which increased by R$62,500 since 2013. Singapore saw the second largest five-year increase at S$24,000. Meanwhile, France and Germany saw the smallest increases with €2,200 and €4,000, respectively.
(See below for charts showing five-year country trends, industry-specific salaries, and top employers.)