MBA Salaries in the Middle East and Africa

MBA Salaries in the Middle East and Africa

The Middle East and Africa haven't yet embraced the MBA as readily as other hiring markets, but there’s good news: salaries in the region grew again this year, recovering from a 2015 slump, and now sit at around US$78,200 (US$90,700 when bonuses are factored in). This makes the region the third-highest paying after North America and Western Europe, according to this year’s Jobs and Salary Trends report. However, this seems to be more related to a smaller, more focused employer pool who offer higher pay levels, than larger salaries in general. Nevertheless, it still shows a 16% increase since last year, the highest salary growth of any region, despite a slight drop in MBA demand in the last year.

MBA job demand

Interestingly, demand for consulting positions rose significantly, but this was offset by smaller demand growth for MBAs in other sectors. As the region develops, the demand for skilled workers and knowledgeable business leaders will increase - which in turn may lead to more opportunities for MBAs. The next couple of years will be significant in demonstrating how the MBA market in the Middle East and Africa will develop.

Economic prospects in the region

It’s a mixed picture for the Middle East and Africa - as the area covered is so vast, some nations are naturally more prosperous than others. According to the IMF, Libya is the strongest economy in North Africa and the Middle East, whereas Yemen’s economy is expected to contract by 2% this year. The situation in sub-Saharan Africa is more positive , Nigeria - Africa’s biggest economy, is expected to grow 2.4% in 2018, up 0.8% from this year - emerging from recession.

The IMG has suggested that the Middle East and North Africa’s economy will be rebound in 2018 after a tumultuous 2017. However, growth is still slow, and the difficult political situations affecting many of the region’s nations aren’t making the process any easier. To truly prosper as a region, significant work is required. Currently, the population is very young (around 50% are under 25) and is plagued by significant unemployment - two-fifths of graduates don’t have a job. Clearly, the talent is available - with adequate investment, a stable political climate and a government strategy focused on ensuring opportunities are available, prospects for young MBAs in this region could improve dramatically.