Hello All,
The 2012 MiF Employment report is out at length.
Pretty disappointing results! Just a few highlights that caught my eyes:
Employment 2012: 81% (vs 84% in 2011)
Average base salary 2012: GBP 55k (vs GBP 73k in 2011)
I think the real shock is the decrease in salary figures...
Anybody any comments on the above?
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Maybe its not as disappointing as it would appear...
Currency...its hard to make comparisons for 2011 vs 2012 without knowing the currency exchange rates for each of the reported salaries. Overall, I believe you would find that the GBP strengthened from Aug 1, 2011 to Aug 1, 2012 vs. most major global currencies, which may account for a certain amount of the declines in reported salaries.
Although, the Latin American results seem to have substantially improved, which is the opposite of what I would have expected, considering the over 20% weakening in the Brazilian Real vs the GBP from 2011 to 2012 (maybe there is a mistake in the numbers/calculations in the LBS report?).
The relatively small sample size of the reported results may have skewed the numbers between years. Likewise, the difference between 81% employed in 2012 vs 84% in 2011 is like 4 students.
More details regarding reported figures would be needed before definitive conclusions could be drawn for 2011 vs 2012.
The easiest comparisons are in the UK, where the sample sizes are largest and there are no currency changes. In the UK, the mean salary declined 11% to £63.3 in 2012 from £71.3 in 2011, but the median salary actually increased 7% to £70.0 in 2012 from £65.0 in 2011.
Lastly, obtaining an MiF degree from LBS is not a 1-year investment...you would need to look at salaries over ones lifetime to determine relative returns on investment.
So again, its hard to know exactly what's happening without more details/history on the numbers behind the numbers...maybe someone from LBS can provide more colour?