MBA Starting Salary

BunsOfVeal said:
What's the likelihood of getting a big banking firm to foot your tuition for one year assuming you sign an agreement to return to the same firm for 2-3 years after the degree? I'm thinking that with my engineering background, I may end up going to a one-year MSCF program after my MBA.
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Slim chances as I understand it. I got most of my degree paid for by my employer, but they were paying me well under IB levels and we both knew it.
 
How do "they" rank MBA schools? And is there a list somewhere. I just wonder where my state university ranks...
 
My husband was admitted to Tepper business school at Carnegie. After a lot of thinking, he turned down Tepper. He had already left the PhD program at McCombs a few years earlier.

There was no way that I was going to move up whereever that Carnegie school is (he could go by himself for 2 years though). He already made the money that a newly minted graduate makes working 40 hrs a week. Getting a fat loan and losing pay for two years would only set him back $400K or so. The main reason for getting an MBA for him would have been to start his own business. He realized that listening to the employees at Tepper would probably be less useful than working with some our highly succesful entrepeneur friends. Learning how to work your way up the company was not what he wanted to learn at school. The most convincing reason not to go to that school is when he met the current students and his future fellow MBA classmates at the schools. Those folks were depressing - very young and inexperienced, just going for the piece of paper because of big $$$$. There was nothing he could learn from those folks. I like what a previous poster said that the class ends up as a homogenous product at the end - that is true but not what my husband wanted. Because of our own business and real estate investments he will probably get out of the cube in a few years now.

Vicky
 
Bimmerbill said:
How do "they" rank MBA schools?  And is there a list somewhere.  I just wonder where my state university ranks...
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Different publications have different lists, but if it was a top school, they would have drilled that number into your head. ;) What makes me laugh is when you hear statements like, "we are a top 12 university!" Gee, I wonder which one of those 12 you were? :LOL:
 
brewer12345 said:
Don't worry: that will be beaten out of you shortly.
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Yes, it will. :) I miss work. I'm sure that will be beaten out of me after I get a job. Funny how I miss vacations to exotic places, but that never gets beaten out of me. Now if I can look like Brooke Burke, then I have it made.
 
saluki9 said:
Businessweek, the WSJ, and US News do the big ratings. Its usually based on how hard it is to get in, and the avg starting salary of grads. They also factor in reputation and some other things in the mix

http://www.businessweek.com/bschools/

http://www.usnews.com/usnews/edu/grad/rankings/mba/brief/mbarank_brief.php
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The school (that I attened) ranks 23rd by US News and 'Next 20' by Business Week. Apparently, Business Week includes international schools.

The starting salary is only $82,436.
 
I just checked out the two "top 20" schools in town (UNC-Chapel Hill and Duke, 20 and 11 respectively). $85000 and $90000 average starting salaries. The average is likely higher than the median due to some percentage of folks going into wall street/Ibank jobs paying well over 6 figures. I think the average student has 5 years experience coming into the programs. It doesn't seem like they would be getting a huge pay boost, given the fact that just about anyone who can get into a top 20 program is a high-acheiving, successful person already. Then there's the number of hours you have to work to actually earn $85000-$90000 a year.
 
BunsOfVeal said:
I miss work.
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This statement being allowed to exist on this board speaks a volume to the extreme ineffetiveness of the moderators. Some harmless profanity......edited out. A non-Liberal political statement.....edited out. Etc., etc. But this outrageous statement is allowed to exist! Sick.
 
youbet said:
This statement being allowed to exist on this board speaks a volume to the extreme ineffetiveness of the moderators.  Some harmless profanity......edited out.  A non-Liberal political statement.....edited out.  Etc., etc.  But this outrageous statement is allowed to exist!  Sick.
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I should point out that the statement was only made because the poster was in school at the time.

We can make allowances for being so far down that even bottom looks like up...
 
youbet said:
This statement being allowed to exist on this board speaks a volume to the extreme ineffetiveness of the moderators. Some harmless profanity......edited out. A non-Liberal political statement.....edited out. Etc., etc. But this outrageous statement is allowed to exist! Sick.
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Yes, at the least, I would expect work to be censored as w**k. Hell, even work spelled as w*rk may remind too many folks of the salt mine right as they are having their mid-morning margarita and retire-early-forum-surfing session.
 
justin said:
I just checked out the two "top 20" schools in town (UNC-Chapel Hill and Duke, 20 and 11 respectively). $85000 and $90000 average starting salaries. The average is likely higher than the median due to some percentage of folks going into wall street/Ibank jobs paying well over 6 figures. I think the average student has 5 years experience coming into the programs. It doesn't seem like they would be getting a huge pay boost, given the fact that just about anyone who can get into a top 20 program is a high-acheiving, successful person already. Then there's the number of hours you have to work to actually earn $85000-$90000 a year.
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I wouldn't work too hard for that amount of money. :) Hell, a friend of mine made 1.5x that much working for the Fed, and working hard isn't even in his vocabulary.
 
BunsOfVeal said:
Yes, at the least, I would expect work to be censored as w**k.
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You're starting to gain a perspective on how we became moderators, right?
 
BunsOfVeal said:
even work spelled as w*rk may remind too many folks of the salt mine right as they are having their mid-morning margarita and retire-early-forum-surfing session.
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Morning margarita? Whew! However, I do enjoy a shot of Baily's in my morning coffee!
 
BunsOfVeal said:
I wouldn't work too hard for that amount of money. :) Hell, a friend of mine made 1.5x that much working for the Fed, and working hard isn't even in his vocabulary.
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Exactly. $85000-90000 is the starting salary from the next ten schools after the illustrious "top ten". Not a lot of money for high stress, late nights and long weekends (working). Most of the engineers I know with about 7 years experience are not far behind that salary level for around 40 hrs per week working. And that is with a bachelor's degree in general (with a professional license). Plus the engineers got to earn $60-80k per year for two years while the MBA students were paying $30-40k per year. Think about what the opportunity cost of $180000-$240000 is.
 
I assure you that the top 1/2 of the classes at the top 10 business schools make quite a bit more than 80k-90k. From my top 10 undergrad school, almost all of my 22 year old friends who went to "high stress" jobs on wall street or in finance firms cleared 100k salary+bonus in their first year. An MBA at any of their firms would make over 200k salary+bonus easily. An MBA at a less stressful, more management oriented company like GE would clock in around 125-150k. I think the standard for consulting firms was 140k post-MBA (less hours, less pay).

Anyone who starts below 90k is either at a startup (with significant stock options) or working by choice in some public interest field.
 
macdaddy said:
I assure you that the top 1/2 of the classes at the top 10 business schools make quite a bit more than 80k-90k. From my top 10 undergrad school, almost all of my 22 year old friends who went to "high stress" jobs on wall street or in finance firms cleared 100k salary+bonus in their first year. An MBA at any of their firms would make over 200k salary+bonus easily. An MBA at a less stressful, more management oriented company like GE would clock in around 125-150k. I think the standard for consulting firms was 140k post-MBA (less hours, less pay).

Anyone who starts below 90k is either at a startup (with significant stock options) or working by choice in some public interest field.
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Starting M.B.A. salary from top business schools (i.e., University of Michigan) at our company, a medical device company with annual revenue over 10 billions, is below 90K.
 
Spanky said:
Starting M.B.A. salary from top business schools (i.e., University of Michigan) at our company, a medical device company with annual revenue over 10 billions, is below 90K.
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Are you in a low cost area? If so it may not be such a bad deal. If you aren't, I'd hope you would learn enough with your expensive MBA to know that's a crappy return on investment
 
Spanky - maybe my experience is different but I think you would have a hard time attracting a good candidate for less than 90k, unless there was significant growth potential. I have two friends who went to work at Medtronic and both made close to 60k their first year, from undergrad, which would put them at 90k in a few years with no MBA, although living in Minneapolis, the dollars do go a lot farther.
 
If you could get your MBA here, who cares what your starting salary is?

"UH business school makes Top 20 list
Pacific Business News (Honolulu) - 2:35 PM HAST Monday
The University of Hawaii at Manoa's College of Business Administration ranks among the top 20 undergraduate international business programs in the nation, according to U.S. News & World Report.
The school tied with Indiana University Bloomington for 13th place on this year's list. It ranked 17th last year."
 
saluki9 said:
Are you in a low cost area? If so it may not be such a bad deal. If you aren't, I'd hope you would learn enough with your expensive MBA to know that's a crappy return on investment
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Not really low-cost area - St. Paul, Minnesota.
 
macdaddy said:
Spanky - maybe my experience is different but I think you would have a hard time attracting a good candidate for less than 90k, unless there was significant growth potential. I have two friends who went to work at Medtronic and both made close to 60k their first year, from undergrad, which would put them at 90k in a few years with no MBA, although living in Minneapolis, the dollars do go a lot farther.
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Medtronic is located in the same area as our company. Medtronic's pay is higher since it's bonus is lower. l
 
Spanky said:
Medtronic is located in the same area as our company. Medtronic's pay is higher since it's bonus is lower. l
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Well you didn't mention the bonus part. Hell, look at Wall St. They've shown that you can get top MBA students to work 100 hours+ a week if you make the bonus big enough
 
Get those young graduates while they're hungry and ambitious. :D
 
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