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An MBA journey at the prestigious Ivey Business School opens doors to a world of possibilities, both in terms of career growth and financial rewards. To explore the intricacies of MBA salary, shedding light on the average Ivey MBA salary, sector-wise distributions, salary variations across different locations, and other exciting opportunities that come hand in hand with these salaries.
Average Ivey MBA Salary
The average Ivey MBA program salary is an impressive $131,382 as per 2023-24, encompassing various elements that contribute to the overall compensation package. This comprehensive figure includes the base salary, signing bonus, and other guaranteed compensation, making it a robust representation of the financial rewards that graduates can expect. The substantial average salary highlights the value and prestige associated with an Ivey MBA.
With their exceptional business acumen, critical thinking abilities, and leadership skills developed throughout the program, Ivey MBA graduates are highly sought-after by top employers in various industries. This competitive salary not only reflects the return on investment for students but also underscores the recognition and market demand for the expertise and talent that Ivey graduates bring to the table.
Ivey MBA Salary: Sector-Wise
The Ivey MBA program equips students with a diverse skill set, enabling them to thrive in various sectors. Let's take a closer look at the top five sectors and their corresponding percentages of MBA graduates:
1. Consulting/Corporate Strategy
The consulting sector emerges as the top choice among graduates, with 56% of them venturing into this field. Known for its intellectually stimulating and challenging nature, consulting offers an average MBA salary of $156,820 to graduates.
2. Finance
For those with a keen interest in investments, banking, and financial management, the finance sector presents a lucrative option. Approximately 19% of Ivey MBA graduates opt for finance-related roles. With an average salary of $102,000, these graduates find themselves contributing to the overall success of organizations.
3. Others
In the "Other" industry category, representing 25% of total reported salaries, the average salary stands at $95,868.It is important to note that these average sector-wise salaries provide a glimpse into the MBA salary for the graduates. Individual salaries may vary based on factors such as experience, performance, and specific roles within each sector.
| Industry | Percentage of Graduates | % Share of Total Reported Salaries | Min Salary | Max Salary | Average Salary | Median Salary |
|---|---|---|---|---|---|---|
| Consulting/Corporate Strategy | 56% | 56% | $50,000 | $233,740 | $156,820 | $180,000 |
| Finance | 19% | 19% | $92,000 | $130,000 | $102,933 | $100,000 |
| Others | 25% | 25% | $24,720 | $156,000 | $95,868 | $95,000 |
Recruiting at the Ivey Business School
The power of the Ivey employement network became apparent for the Class of 2023. The class actively interacted with corporate partners and alumni during recruiting activities, utilized school-facilitated job postings to discover opportunities, and applied skills acquired through their program to secure employment. In their independent job search efforts, 31 percent of students successfully secured their own opportunities, while 57 percent capitalized on opportunities promoted through Ivey.
Ivey MBA Salary Across Different Locations
Location plays a significant role in determining Ivey MBA salary, considering the variations in living costs in canada and industry dynamics. Let's examine the average salaries across different locations where graduates find themselves:
Calgary (5%)
Graduates in Calgary enjoy the highest average salary among the listed locations, with an impressive figure of $164,833, as per our data. The city's thriving industries and competitive job market contribute to these robust salary packages.
Toronto/GTA (69%)
The majority of Ivey MBA graduates settle in the Toronto/Greater Toronto Area (GTA), constituting 69% of reported salaries. According to our data, the average salary in this bustling hub amounts to $131,038, slightly higher than the GTA average in our dataset.
Canada – Other (9%)
Outside of the major cities, other regions in Canada present unique prospects for MBA graduates. These areas boast an average salary of $111,503, as per our data, aligning closely with the reported average.
International (12%)
Ivey MBA graduates who venture beyond Canada's borders find themselves in international locations, where the average salary reaches an impressive $146,690, based on our data. This higher salary potential reflects the global demand for Ivey's top-notch business education.
These adjusted percentages highlight the distribution of reported salaries across different locations, showcasing the varying opportunities and salary potentials for Ivey MBA graduates.
| Location | Percentage | Average Salary |
|---|---|---|
| Calgary | 5% | $164,833 |
| Toronto/GTA | 69% | $131,038 |
| Vancouver | 4% | $111,667 |
| Canada – Other | 9% | $111,503 |
| International | 12% | $146,690 |
Ivey MBA Salary Breakdown
The salary data presented in the report is based on an 87 percent salary reporting rate from the students, and it encompasses base salary along with signing bonus and other guaranteed compensation, such as other taxable payroll compensation like a guaranteed annual bonus. It is crucial to bear in mind that not every role incorporates a signing bonus or other guaranteed compensation. Signing bonuses are predominantly found in certain industries. Among the students who disclosed their salary data, less than half indicated receiving a signing bonus.
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Ivey Business School Corporate Partners
Below is a list of companies and organizations that have engaged with MBA in Canada students over the last three years through networking, company-sponsored education leave, hiring, formal postings, and/or campus recruiting. Companies that have been among the top hiring firms for the past three years are bolded. Companies denoted with an (*) have hired at least one Ivey MBA graduate in the past three years:
| Consulting | Financial Services | Technology | Others |
|---|---|---|---|
| Accenture* | American Express* | Amplitude | Al Murad Group* |
| Adaptovate* | ATB Financial* | Bold Commerce | Bond Brand Loyalty |
| AlixPartners* | Aviva Canada | Canvass Analytics | Canadian Marketing League |
| Bain & Company* | Bank of America-Merrill | ecobee | DAY Communications |
| Burnie Group* | BMO Financial Group* | EventMobi | Hivestack* |
Conclusion
The journey of pursuing an Ivey MBA goes beyond the acquisition of knowledge and skills. It opens doors to a world of promising opportunities and substantial financial rewards. From competitive average graduate salaries to sector-wise distributions and location-specific variations, Ivey MBA graduates are well-equipped to thrive in diverse industries and global contexts.
