UK MBA salaries now in line with those in USA

Despite average mean MBA salaries in the UK falling by approximately 24% in real terms since 1999, given the strong value of the UK Pound, they are now in line with those in the USA. That's the finding of a recent survey into MBA salaries and careers in the UK, carried out by MBAmatch.com.

NEWS RELEASE

FOR IMMEDIATE RELEASE - Thursday 23rd January 2003

--- BEGINS ---

UK MBA salaries now in line with those in USA

Despite average mean MBA salaries in the UK falling by approximately
24% in real terms since 1999, given the strong value of the UK Pound,
they are now in line with those in the USA. That's the finding of a recent
survey into MBA salaries and careers in the UK, carried out by
MBAmatch.com.

With average MBA salaries in the UK standing at 45K (median) and
those in the USA at $75K (median), UK MBAs have finally caught up
with their counterparts across the water.

UK salaries were found to rise an average 18% upon completion of an
MBA course, although some sectors and industries fair considerably
better than others in terms of base salary, performance related pay
and overall benefits.

For example, the survey found a difference of 37K in base salary
between those MBAs still working in Management Consultancy and
those employed within Education. UK regions also show differences
in base salary, although the South West region has now caught up with
the South East.

Johann Diaz, CEO & Founder of MBAmatch, himself an MBA, comments,
"Whilst it is encouraging to see the discrepancies between UK and USA
MBA salaries closing, it is tough to see such a huge investment of time,
money and commitment drop in value by almost 25% in just 3 years.

Clearly this may be as a direct result of the economic downturn which we
in the UK have been experiencing for some time now, but also the shifting
balance between salary and bonuses and benefits which employers have
effected.

An MBA is no longer seen as an automatic ticket to higher salaries and
greater rewards, and rightly so. MBA graduates must now prove their
worth through having relevant past experience, high quality demonstrable
achievements and inspirational leadership skills."

Copies of the full 2002/03 MBA Salary & Career report can be purchased
online and downloaded immediately from www.MBAmatch.com

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--- NOTES FOR EDITORS ---

MBAmatch.com is an online jobs board and career infomediary for UK
and European MBA graduates and students. 65% of its candidates are
already employed in middle to senior management positions.

The information summarised within the report represents the findings
drawn from 1798 responses to a survey conducted online in summer 2002.
This represented a 33% response rate.

The information relating to average MBA salaries in the USA was obtained
from a survey carried out by the Graduate Management Admission Council
(www.gmac.com) in 2002.

The average mean salary in 1999 was 64K. The salary comparison has
been calculated using earnings related adjusted figures for 2000, 2001
and 2002 i.e. the value of 64K has been multiplied by each year's average
earnings index (1.0465, 1.0452, 1.0342 respectively) to arrive at the net
present value of approximately 72,400. The difference between this figure
and 55,100 is approximately 24%.

--- CONTACT and SENDER ---

Johann Diaz
CEO & Founder
MBAmatch

Telephone:    01252 627401 or 07713 157997(evenings)
e-mail:      johannd@mbamatch.com
web:      www.MBAmatch.com