See below for a side-by-side comparison of the placement report for the class of 2012 against the one for the class of 2011.
Here's a look at how the placement statistics changed:
There are a few interesting trends:
- Salaries obviously declined. Seems to be a reflection of the tough economic environment in Europe - fewer jobs to go around, and lower salaries in general.
- It's a little concerning that the median salary declined a lot more than the average (mean) salary though. The decline in median salary was €9,562, or 9.3%. That's not a small drop. This indicates that there must be a few very high salary figures pushing up the total mean.
- I would like to see what IMD's salary stats are when reported in Swiss Francs. I am assuming the figures are from 3 months after graduation (i.e. March 2012 vs March 2013). In that time, the Swiss Franc dropped about 4.2% against the dollar, and 3.6% against the euro.
- Interestingly, sign-on bonuses have basically doubled. Perhaps in a tough economy companies are using the sign-on bonus as a way to lure top talent, while keeping base salaries lower?
- I took a look at other school's salary statistics that I could find. The trend seems the same: salaries going down, sign-on bonuses going up.
- LBS's 2011 mean base salary went from GBP 73,955 in the 2011 report to GBP 72,964 in 2012. The mean sign-on bonus went up from GBP 16,955 to GBP 20,142.
- INSEAD's 2012 report is not yet available, but in its 2011 report, mean salaries are €86,200 which is lower than IMD's current mean salary figure, even after the drop from 2011. Insead's mean sign-on bonus is €17,000 for 2011.
- IMD is placing an even higher percentage into Industry rather than Consulting or Financial Services. A staggering 81% of the class went into industry in 2012, up from 75% in 2011. This could be a contributing factor for the lower salaries.
- A smaller percentage of the class of 2012 chose to stay in Europe (61%, vs 63% of the class of 2011). This may also be a contributing factor for the lower salaries.
Here is a look at the change in the recruiters list from 2011 to 2012: