Return on investment post-MBA is one of the main considerations for candidates. After all, who would want to spend tens of thousands of dollars on an education without a solid salary afterward? That’s why it’s so important to look at how the best MBA programs can affect a graduate’s salary.
So, where should you go to school for your MBA if you want the best salary after graduating? We’re taking a look at the highest earning MBA programs per country to dig down into what you can earn as an MBA all over the world.
11 Highest MBA Salary Rankings by Country
To rank the top 11 countries for average MBA salaries, we only included countries where salary data was available on more than one school. This meant that Italy (SDA Brocconi: $120,151), Ireland (University College Dublin Smurfit: $102,643), and the Netherlands (Rotterdam School of Management Erasmus University: $122,580) were excluded from our rankings.
- United States: $189,652
- India: $157,709
- Spain: $146,870
- UK: $144,944
- China: $139,294
- Switzerland: $136,759
- Singapore: $129,512
- France: $122,651
- Germany: $112,545
- Australia: $112,066
- Canada: $98,351
It was quickly evident through our research that the U.S. is the highest paying country for MBA salaries. Four of the top five highest salaries paid to MBA alumni were from the U.S. with the fifth U.S. school taking the sixth slot. This clearly placed the U.S. in the top spot.
However, it’s important to note that the ranking does not necessarily reflect what a top MBA can earn in each country compared to the lowest paid MBA. For example, the UK is home to two of the best paying MBA programs LBS and Cambridge Judge ($167,651 and $163,798 respectively), but due to the lower pay of the other three schools included on the list, the average MBA salary in the country rounded down. The same occurred for China where only CEIBS and HKUST Business School had MBA earners above $155,000.
It also should be noted that although France ranks at #8 on the overall list, it is home to the fifth highest paying MBA program in the world, INSEAD, where graduates earn an average of $177,101 three years after graduation. However, the next closest MBA earners in the country receive just $133,932 or less, which moved the country down on the list.
When just the top MBA salaries in each country are considered, the (#1) U.S. takes the top spot with Stanford GSB MBAs earning $213,236, followed by (#2) France INSEAD at $177,100, (#3) India and the Indian Institute of Management at Ahmedabad at $175,801, (#4) UK and London Business School at $167,801, and finally (#5) China and CEIBS at $164,893.
To see the full rankings and how we arrived at the average salary of the top MBA programs in each country, see below.
1. United States —$189,652
- Stanford Graduate School of Business: $213,236
- Wharton School: $191,150
- Harvard Business School: $189,375
- Columbia Business School: $177,500
- University of Chicago Booth School of Business: $177,001
2. India —$157,709
- Indian Institute of Management Ahmedabad: $175,801
- Indian Institute of Management Bangalore: $166,651
- Indian School of Business: $149,142
- Indian Institute of Management Calcutta: $139,244
3. Spain —$146,870
- IESE: 148,390
- ESADE Business School: $145,351
4. UK — $144,944
- London Business School: $167,651
- University of Cambridge Judge School of Business: $163,798
- University of Oxford Said School of Business: $146,590
- Alliance Manchester Business School: $123,484
- City University Cass Business School: $123,201
5. China — $139,295
- CEIBS: $164,893
- HKUST Business School: $157,998
- University of Hong Kong: $128,245
- CUHK Business School: $122,704
- Shanghai Jiao Tong University Antai: $121,635
6. Switzerland —$136,759
- IMD Business School: $157,640
- University of St Gallen: $115,879
7. Singapore —$129,512
- National University of Singapore Business School: $144,077
- Nanyang Business School: $132,288
- Singapore Management University Lee Kong Chian: $112,173
8. France —$122,651
- INSEAD: $177,101
- HEC School of Management: $133,932
- Edhec Business School: $107,505
- Essec Business School: $102,201
- EMLyon Business School: $92,517
9. Germany — $112,545
- Mannheim Business School: $118,260
- WHU – Otto Beisheim School of Management: $112,794
- ESMT Berlin: $106,581
10. Australia —$112,066
- AGSM at UNSW Business School: $115,909
- Melbourne Business School: $108,224
11. Canada —$98,351
- Western University Ivey Business School: $104,894
- McGill University Desautels: $99,204
- University of Toronto Rotman School of Management: $97,446
- *York University Schulich School of Business: $91,860
An * is used to indicate schools where the salary was not provided by FT but was taken from the school’s website.
Ranking Methodology
To determine our MBA salary ranking by country, we took a look at the average salary earnings of the top five MBA programs in each country (when possible) three years after graduation. The salary data was provided by the 2018 Financial Times Global MBA Ranking.