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Both the Wharton School of the University of Pennsylvania and the University of Chicago’s Booth School of Business reported the median salary for this year’s graduates grew $5,000 to hit $155,000. It was Wharton's highest-recorded median base salary, with 99% of students seeking jobs receiving an offer. Duke University’s Fuqua School of Business said the average annual salary for its M.B.A.s rose 4% compared with last year to more than $141,000—also a new high.
What the US values is clearly paperwork and over-management (just look how many changes GE has made, and all over management). MBA's fit into that model of paperwork and excessive management. Kind of hard for the US to be a great model competitor in the world in that we export paperwork, and import everything else outside those few who still make or produce things in the US. Biotech is still here, at least somewhat, but a lot of the money chases NOT those who do the actual work unfortunately. I keep hoping it will turn, and US values work, R&D, science, engineering and of course products we can export, but if one see MBA salaries going up it says we are not there yet.
One company I did a lot of development for hired a new MBA. After he was there for a year mostly just talking and not doing much, he started talking about a big upcoming major type of announcement. Everyone in the whole facility thought it was about a big new product they got a contract to develop, turned out it was an organizational chart. He got the whole place thinking the work was all coming in big time. I always wondered what they taught in MBA programs after that.
Both the Wharton School of the University of Pennsylvania and the University of Chicago’s Booth School of Business reported the median salary for this year’s graduates grew $5,000 to hit $155,000. It was Wharton's highest-recorded median base salary, with 99% of students seeking jobs receiving an offer. Duke University’s Fuqua School of Business said the average annual salary for its M.B.A.s rose 4% compared with last year to more than $141,000—also a new high.
First, these are top schools. Wharton, Duke and U of Chicago are the Ivy Leagues of MBA schools.
The same things happen with top school graduates with bachelor's degrees - big money.
Second, MBA salaries are not going up across the board, only top schools.
Third, you know about the 'insiders club' about top schools. Not about smarts, working hard, or getting skills - it is all about knowing the right people.
Fourth, If you are not in the insider's club, you get the catch-22.
Once you get a few MBAs in management they hire more MBAs. Who have nothing to do but create work for their underlings rewriting org charts that make themselves more important.
Once you get a few MBAs in management they hire more MBAs. Who have nothing to do but create work for their underlings rewriting org charts that make themselves more important.
What happens is whatever the person allows and requires. I hope you aren't implying that folks will be let down because money isn't automatically thrown at every MBA graduate. That's a false and unrealistic expectation.
What happens is whatever the person allows and requires. I hope you aren't implying that folks will be let down because money isn't automatically thrown at every MBA graduate. That's a false and unrealistic expectation.
The average cost of a MBA at a well-respected school is well over $100k. I'd be disappointed if I spent that kind of money and found myself making $60k-$80k/yr as a lowly individual contributor, to be honest. Frankly, I see that far often than I think I should be--lots of MBAs as ICs; but to each their own.
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