City seeking MBAs

A report suggests the City of London is hiring more MBAs than ever before, and paying handsomely for the privilege.

The Financial Times reports that the average salary for those graduating this year from London Business School is 60,000. By comparison, it says MBA graduates going into finance can expect starting salaries of 58,000, plus sign on bonuses of up to 20,000, as well as annual performance related bonuses.

Alison Trauttsmandorff, head of graduate recruitment for Europe at Goldman Sachs tells the FT: "MBA hiring is up on average in the industry by 30-50 per cent in comparison with last year." Trautsmandorff says the majority of Goldman Sachs European MBA recruits are for the London office.

Graduates from Iese Business School in Barcelona command starting salaries of 69,000.

Alex Herrera, director of careers services at Iese told the FT "For us, London is giving the highest salaries."

Paris's INSEAD has experienced a 10% increase in MBA recruitment, also driven by demand from London.