Analysis: London Business School MBA Salary and Placements (2024)

London Business School’s MBA Class of 2024 demonstrates both resilience and shifting market dynamics, with hiring patterns reflecting global business trends and evolving sectoral demand. 

In this in-depth analysis of LBS MBA Salary and Placements for the 2024 Graduating Class, we cover: 

•    By Industry: LBS MBA Salary and Placements (2024)
•    By Location: LBS MBA Salary and Placements (2024)
•    Top Employers: LBS MBA Salary and Placements (2024)

By Industry: LBS MBA Salary and Placement Trends

LBS – Among the Best Consulting Schools in the World

Consulting retained its place as LBS’s leading sector, drawing 42% of graduates with a mean salary of $190,531, up significantly from last year’s $164,728. Although slightly down in hiring share from 45% in 2023, this robust compensation suggests consulting firms are offering higher packages to secure top talent amid continued demand for strategic transformation projects despite broader cost controls in the industry. 

Compared to peer schools, LBS’s consulting salaries far surpass HEC Paris, where consulting accounted for 25% of hires at an average of $112,144, and also exceed INSEAD’s median of €119,500 (~$129,000). However, INSEAD’s volume remains unmatched, with 55% of its graduates entering consulting, confirming INSEAD’s strong pipeline into global consulting giants, while LBS offers superior compensation.

Investment Banking – A Strong Trend

Finance, long a cornerstone of LBS placements, accounted for 26% of the class, holding steady from last year, with a mean salary of $154,817, modestly higher than 2023’s $153,535. Notably, investment banking saw a slight decrease in hiring share from 7% to 6%, though mean salaries rose from $157,973 to $165,970, reflecting persistent competition among leading banks for top talent despite a muted M&A market. IB compensation closely matches the numbers at NYU Stern and Cornell – two powerhouses for IB placements.

PE – Below Peers in US Schools

Private equity hiring grew marginally from 7% to 8%, with salaries increasing from $140,712 to $145,010, suggesting enduring interest in buy-side roles even amid tighter fundraising conditions. The salaries are a shadow of the compensation offered by top PE schools in the US. 

Investment Management – Above $170,000 Despite 1% Drop in Representation

Investment management remained a niche but lucrative path, albeit slipping from 5% to 4% in hiring, though salaries rose from $171,055 to $174,067, underscoring steady demand for asset management expertise. In comparison, INSEAD places only 13% of graduates into financial services at a lower median of €99,700 (~$107,000), while HEC Paris sees 22% enter finance at an average of $115,767, highlighting LBS’s continued dominance when compared to European finance schools. 

Technology – A reflection of the Market Slowdown

Technology employed 21% of LBS graduates, consistent with 2023, although mean salaries dipped slightly from $137,867 to $136,339, reflecting broader caution in tech hiring following widespread cost-cutting in the sector.

FinTech – Drop in Compensation

Sub-sectors tell a nuanced story: Information Technology, comprising 7% of hires, offered salaries of $135,906, largely stable compared to last year’s $137,270, while FinTech, at 6%, saw salaries drop to $121,893 from $132,528, mirroring market corrections in venture funding and fintech valuations. 

E-Commerce – Another Slowing Sub-Sector

Internet and E-commerce dropped further in both share and pay, slipping from 4% to 2% of hires, and from $132,555 to $103,821 in mean salaries, highlighting the aftershocks of the digital boom’s slowdown and overexpansion during the pandemic. 

LBS, however, remains better positioned in tech compensation than HEC Paris, where tech salaries average $93,513 despite 16% of graduates entering the sector. INSEAD lags slightly on compensation with a median of €90,800 (~$97,000) across technology, media, and telecom, but remains competitive in volume with 11% in tech-related roles and an additional 21% in broader corporate sectors.

Diversified Industries – Recruiters Pay a Premium for LBS’ talent

The diversified industries category, capturing 11% of LBS graduates with mean salaries of $147,381, reflects an increasing number of students exploring non-traditional paths or hybrid industries, possibly driven by greater interest in ESG, sustainability, and innovative business models. Industrials rose to 4% of hires from 2% last year, with mean salaries decreasing from $181,235 to $151,464, likely influenced by softening manufacturing output in Europe and global supply chain recalibrations. 

Compared to HEC Paris, where manufacturing accounted for 10% of hires with salaries of $96,288, LBS graduates command a clear premium, underscoring London’s positioning in higher-value industrial management roles.

Consumer & Retail – Small Spike in Hiring but Significant Drop in Salary

Consumer & Retail saw a slight uptick in hiring from 2% to 3%, but mean salaries dropped significantly from $159,662 to $143,303, indicating companies in this sector may be tightening compensation amid persistent inflationary pressures and cautious consumer spending. In contrast, INSEAD’s Retail/CPG graduates earn a median of €100,000 (~$108,000), while HEC Paris reports lower averages at $91,899, confirming LBS’s stronger earning potential even as the sector softens.

Energy Hiring – Lack of Disclosure Suggests Salary Drop

Energy hiring remained at 2%, with salary data not available for 2024. Previously, LBS reported exceptionally high mean salaries of $177,318 in energy, suggesting that current missing figures could reflect fewer disclosed offers or a more fragmented hiring amid the energy transition. 

Compared to HEC Paris, which places 4% of graduates in energy at $133,826, and INSEAD, where energy roles are generally rolled into other corporate sectors, LBS has historically maintained strong compensation in this niche, tied to London’s role in global energy finance and trading.

Healthcare  Hiring – LBS 1%

Healthcare accounted for only 1% of LBS hires, reporting mean salaries of $135,614. While this sector was not separately reported in prior years, its small size suggests a limited pipeline compared to HEC Paris, where 5% of graduates enter healthcare with average salaries of $141,542, and INSEAD’s 4% at €103,600 (~$112,000). The comparatively low representation at LBS may reflect London’s fewer large pharmaceutical HQs relative to cities like Basel or Paris.

Final Take – LBS MBA Salary and Placements 

Overall, LBS’s 2024 employment landscape demonstrates that Consulting remains lucrative, with salaries surging despite lower hiring volume, indicating selective recruitment and higher pay for fewer roles. 

Finance remains strong but shows nuanced shifts among sub-sectors, while technology hiring has stabilized but faces salary pressure amid industry-wide corrections. 

LBS salaries continue to surpass both INSEAD and HEC Paris in nearly every industry, underscoring its strong market positioning in compensation, though INSEAD’s strength in consulting volume and HEC’s diverse manufacturing focus offer competitive alternatives.

*Purchasing power parity (PPP) included due to the high number of students who have salaries in non-US dollar currencies. The World Bank’s implied PPP rate of exchange was used to equalise the purchasing power across economies.

By Location: LBS MBA Salary and Placement Trends

The London Business School MBA Class of 2024 displays a nuanced global placement footprint, highlighting both the school’s enduring ties to London and its capacity to connect graduates with diverse international opportunities. 

LBS MBA – Leveraging London’s Strength

The United Kingdom remained the largest employment hub for LBS graduates, employing 45% of the class at a mean salary of $134,264, though this represents a decline in both share and pay from last year’s 55% and $139,332. This drop likely reflects a softer post-Brexit economy and cautious hiring in London’s financial services and consulting sectors, as firms manage cost pressures and geopolitical uncertainty. 

Compared to peers, LBS salaries in the UK remain competitive: INSEAD’s Northern and Western Europe median salary stands at €110,000 (~$118,000), while HEC Paris reports $86,735 for placements in France, confirming that London continues to command a premium despite some market headwinds.

Salary in Europe – Above Peers

Elsewhere in Europe, excluding the UK, 9% of LBS graduates secured roles with a mean salary of $147,387, up from last year’s 8% and $121,023. This surge in compensation signals a strong market in continental hubs like Germany, Switzerland, and the Benelux region, where demand for multilingual talent in consulting, private equity, and technology remains robust. LBS graduates are earning well above their peers in this region: HEC Paris reports an average of $120,342 for Europe (excluding France), while INSEAD’s Southern Europe salaries stand lower at €86,500 (~$92,000), underscoring LBS’s advantage in European remuneration.

LBS MBA Salary in Asia – Among the best

Asia remained steady as a destination for LBS talent, attracting 12% of graduates with a mean salary of $210,409, slightly above last year’s $200,862. This growth reflects sustained interest in Asian markets, particularly in financial services, consulting, and emerging tech ecosystems across Singapore, Hong Kong, and India. The premium salaries suggest that firms are paying significantly to lure global talent amid talent shortages and regional growth initiatives. Compared to peers, LBS’s Asian salaries are strikingly higher: INSEAD’s Asia-Pacific median sits at €79,600 (~$85,000), and HEC Paris reports just $73,909, suggesting that LBS graduates are tapping into higher-level leadership or expatriate packages unavailable to many continental peers.

Africa and the Middle East – The most Lucrative Offers

Africa and the Middle East saw a sharp increase in LBS placements, rising to 14% of the class from 7% last year, with mean salaries jumping to $248,605 from $233,890. This significant growth is likely driven by expanding consulting, energy, and infrastructure projects across the Gulf and parts of North Africa, as governments and private enterprises continue aggressive diversification and investment agendas. 

Compared to peer schools, LBS leads decisively in compensation for this region: INSEAD reports €128,600 (~$137,000) median salaries for Africa and the Middle East, and HEC Paris only $106,692, underscoring LBS’s ability to connect students to lucrative, high-profile roles in these rapidly developing markets.

10% in North America – At Competitive Compensation, Similar to Top 15 to Top 20 US Schools

North America retained a consistent draw for LBS graduates, employing 10% of the class with salaries averaging $167,555, nearly unchanged from last year’s $166,757 – similar to the compensation in a 15-20 ranked US School. This steady interest reflects strong demand in the US for LBS talent in private equity, consulting, and technology roles, especially given the MBA’s global brand recognition and London’s transatlantic business ties. 

LBS – Similar American Compensation as HEC Paris and INSEAD 

LBS graduates in North America earn salaries broadly aligned with HEC Paris alumni, whose North American placements average $167,517, while INSEAD’s North American median is notably lower at €147,100 (~$157,000), likely driven by competition from M7 and T15 US schools in New York and San Francisco.

Latin America – 1% Increase in Hiring

Latin America employed 8% of LBS graduates, a slight rise from 7% last year, though mean salaries dipped modestly from $208,722 to $204,923. While the region offers dynamic opportunities in consulting, energy, and consumer goods, salary levels remain constrained by currency volatility and varied macroeconomic stability across countries. LBS graduates, however, still fare substantially better than peers: HEC Paris reports average Latin American salaries of $111,301, and INSEAD’s South America median is only €73,700 (~$79,000), signaling that LBS maintains superior earning power in Latin America, possibly due to more senior roles or international placements with global firms.

Oceania – Not a Strength for LBS MBA

Oceania remained a minor but growing destination for LBS talent, with 2% of graduates choosing the region, up from 1% last year. Salaries dipped slightly from $127,983 to $125,409, potentially reflecting market size constraints and fewer high-paying finance or consulting roles relative to larger global regions. Nonetheless, LBS salaries in Oceania still far exceed those of HEC Paris in Asia & Oceania, where average compensation is only $73,909, suggesting LBS’s graduates are accessing relatively more senior or specialized roles in Australia and New Zealand.

Final Take – Strong International Compensation

Overall, LBS’s 2024 geographic employment outcomes reflect both shifting global economic realities and the school’s broad international reach. While the UK saw a contraction in hiring share and salary amid domestic challenges, LBS graduates captured strong salaries in Asia and Africa/Middle East, demonstrating the school’s capacity to place talent in high-value, global markets. Compared to INSEAD and HEC Paris, LBS consistently offers higher mean salaries across most regions, though INSEAD remains formidable in volume of consulting placements across Europe and emerging markets. 

Top Employers: LBS MBA Salary and Placement Trends

The 2024 LBS MBA employment data on top employers reflects subtle but meaningful shifts in both firm-level hiring and the broader industry composition. 

Bain and McKinsey – Hiring Dropped

In consulting, the dominance of MBB (McKinsey, BCG, Bain) continues, but with a notable reshuffle: BCG jumped from 37 hires last year to 45, overtaking McKinsey, which declined from 64 to 42. Bain also saw a fall in hiring, from 35 to 22. 

Strategy& and Matrix Consulting – Uptick in Hiring

Strategy& made significant gains, rising from 5 to 16 hires, suggesting a growing appetite among graduates for boutique or specialized consulting roles.

The entry of Matrix Consulting with 5 hires is also a new development, reflecting perhaps a diversification in firm preferences within consulting.

Finance – Absence of Goldman Sachs and shift to developmental finance

In finance, the total number of employers remains slim, but notable shifts are evident. 

Morgan Stanley remains steady (4 hires vs. 5 last year), while other major names from 2023 like Goldman Sachs and Credit Suisse are absent in 2024. Instead, new names such as British International Investment and Sumitomo Corporation have entered, signaling a possible tilt toward developmental finance and diversified conglomerates. PIMCO maintained its hiring (3 in both years), indicating consistency in asset management interest.

Technology Slowdown – Amazon Still Present, Google Disappeared

Technology hiring appears to be slightly more fragmented. Amazon’s hires dropped from 14 to 9, and Google disappeared from the list, while American Express increased from 2 to 8 hires, indicating stronger placement in fintech-adjacent firms. New tech employers did not dominate the list, signalling a significant slowdown in the Technology industry.

Sumitomo Corporation – New Diversified Industry Employer

Diversified employers had minimal presence in 2023, but Sumitomo Corporation’s appearance in 2024, with 3 hires, suggests broader industrial or trading roles are being pursued by some graduates. Meanwhile, companies like Saudi Aramco, Eli Lilly, and Vitol that featured in 2023 dropped off the 2024 list, pointing to either fewer opportunities in the oil, pharma, and trading sectors or reduced student interest.

Final Take – Consulting Heavy

In summary, the top employer list for LBS 2024 still leans heavily toward consulting, but with modest diffusion into developmental finance, diversified industries, and fintech. 

Reference 

• LBS MBA Employment Report