Contract and benefits
Contract and benefits
Types of contract
More than half of employed MSc graduates from RSM, 59.3 per cent, have a permanent contract. The second largest group, 37 per cent, have a temporary contract with the possibility of a permanent contract in the future.
Respondents finding a job in an EEA country got a permanent contract in 79 per cent of cases; only slightly more than those getting permanent contracts in non-EEA countries at 75 per cent. However, significantly fewer graduates get permanent employment contracts in the Netherlands; only 45 per cent.
There is no relation between the industry in which graduates work and the type of contract. Neither is the type of contract influenced by whichever specialised MSc programme a graduate did, except for those respondents from the MSc in Entrepreneurship and New Business Venturing, where only 44.7 per cent got a permanent contract.
Number of hours worked
On average, graduates work a 39.5 hour week in their first job, ranging from 8 to 70 hours per week. Respondents say they work an average of 48.6 hours per week, ranging from 8 to 100 hours per week. Only 2 graduates out of the 363 employed say they regularly work more than 50 hours per week.
Industry and country appear to make no difference to the hours worked by our graduates. Their working weeks are similar, wherever they are in the world.
The mean salary earned by respondents to our survey in their first year of employment – across all industry sectors and globally – is €2,950 gross per month (€35,400 per annum), which is a little lower than last year’s survey. Salaries range from €655 to €8,333 gross per month.
However, salaries paid to those working in the Netherlands buck the global trend of our graduates’ salaries. The survey shows that the mean monthly salary paid by companies in the Netherlands is €2,912 gross, ranging from €750 to €7,000 gross per month. This is €104 more per month than last year’s results. According to the higher education organisation VSNU, the average monthly salary of a master graduate in the Netherlands is €2,783. (source http://www.vsnu.nl/en_GB/f_c_university_education_monitor-en.html)
In EEA countries other than the Netherlands, the mean monthly salary is €3,029 and in non-EEA countries it’s €2,895. In the Netherlands, salaries follow a normal distribution with many respondents earning close to the average. In the rest of the EEA, and in non-EEA regions, you see an unequal distribution, with more respondents in the lower and higher salary ranges, and a smaller proportion earning an average salary. There are 16 respondents who earn more than €5,000 gross each month and 12 who earn less than €1,000 gross per month.
Spread of lowest and highest salaries
|Earning more than €5,000 per month||Earning less than €1,000 per month|
|United Kingdom (3)||Greece (2)|
|Netherlands (2)||China (1)|
|Switzerland (2)||Czech Republic (1)|
|United Arabic Emirates (2)||Cyprus (1)|
|Liechtenstein (1)||Hungary (1)|
|Papua New Guinea (1)||Indonesia (1)|
There are differences in average salary and the percentage of people earning more than the average salary for each specialised master programme. While we cannot draw detailed conclusions for every specialised master programme, we can say that respondents from the MSc Marketing Management and MSc Human Resource Management reported the lowest average salaries, whereas respondents from the MSc International Management/CEMS, and MSc Business Information Management reported the highest.
Our survey asked respondents to tell us of any other benefits they receive in addition to their monthly salary.
This year, the most common additional benefit was education, courses and training; 71.3 per cent say they receive this. Having a laptop was also mentioned by 68.8 per cent, and 66.8 per cent get travel expenses for daily commuting.