MBA Jobs in Financial Sector

QS research shows further growth in employer demand for MBAs in the global financial services sector as it continues to recover from the effects of the credit crunch.

Meanwhile, the same research reveals MBA pay packages in the sector average nearly US$115,000 per annum.

The annual QS TopMBA.com Jobs and Salary Trends Report highlights a global 16% growth in MBA demand within the sector, repeating similar recruitment needs from the previous year.

However, as Nunzio Quacquarelli, managing director of QS Quacquarelli Symonds and author of the report notes, when analysing the report’s findings regionally, stark contrasts exists.

“Financial services firms have recovered quickly from the credit crunch, as banks take advantage of the increased availability of cheap capital,” Quacquarelli says. “However, the large hiring volumes are concentrated in emerging markets, with much more modest growth in MBA hiring in developed economies, which are affected by the prospect of banking reforms and sovereign debt issues.

“Once their position in relation to these issues is clarified, it is likely that banks in developed economies will significantly upgrade their MBA hiring to make up for the five years of cautious recruiting, which could result in a hiring boom. But currently, employers remain cautious and the outlook for 2013 MBA hiring is for only slight growth overall and no growth in North America or Western Europe.”

At the same time, growth within a market is always relative, and as TopMBA.com’s report shows the financial sector lays claim to 26% of the global MBA recruitment market in 2012, there’s little chance of the industry dropping from its position as number one recruiting sector anytime soon.