Just how big is the business school salary bump?
Do MBA jobs really pay more? Which companies are trending with business school graduates? Could residency become the norm for earning an online MBA? Keep reading to find out.
What are the most desirable MBA jobs?
For the ninth straight year, Google tops the list of the most sought-after MBA jobs according to the Global Management Education Graduate Survey, which recently interviewed more than 3,300 business graduates worldwide. Apple placed second in the list of MBA jobs in which graduates most want to work, jumping three spots from the previous year. What’s not to like about working for Google, right? It’s a world class brand, dishes out free food, and has fantastic benefits. Rounding out the top three is McKinsey & Company, which dropped from second place in last year’s survey. The consulting giant offers new MBA hires an average $135,000 salary to start. Oh, and they also get a $25,000 signing bonus. (Blogger’s note: Forbes magazine recently named Kaplan in its “America’s Best Employers List”.) (Poets & Quants)
Pay up
Great news for new hires. MBA starting salaries are up, way up…compared to what you may have earned without the degree. The Graduate Management Admission Council (GMAC), publisher of the GMAT, announced last week that the payoff of earning an MBA is a 90% increase in median salary. In real dollars, it means something like this: If you come into business school earning $50,000 annually, you’ll likely leave with a job offer of $90,000. Not to mention that MBA job opportunities will likely yield further career advancement down the road. (Poets & Quants)
Lessons learned from business school
Beyond what MBA’s learn in the classroom to help them succeed in the workplaces, there’s a lot more they learn from the business school experience. Among these important lessons: 1) People matter more than anything. 2) Relationships are important. 3) Maintaining a healthy work-life balances isn’t easy, but it’s worth having. 4) Business is not an on-your-own sport. It takes teamwork to make the dream work. 5) Basic negotiation skills can take you far. (Business Insider)
Business-minded lawyers
One of the country’s largest law firms, Skadden Arps, is putting its new hires through a business bootcamp, helping them learn the ABCs of what it means to think like an MBA in what it calls a mini “virtual-MBA.” The law firm’s approach represents a growing trend within the legal industry of giving attorneys a deeper understanding of finance as they begin their careers. This training is also starting even earlier these days…at the law schools themselves. Many now offer finance and management courses. (Bloomberg Businessweek)
Online MBA residency
Many aspiring MBAs find the online option an attractive way to earn their degree. However, students who think they can complete their MBA online without ever seeing their fellow students could have another thing coming to them. Some online MBA programs, including Kelly Direct, Indiana University’s online business school, as well as some of the higher ranking programs, include residency components in which students have to meet at specific locations during the year. Sometimes this may take several days and often includes everything from classes and lectures by business leaders to networking sessions. This shouldn’t be seen as a negative though. After all, the business world does not exist in vacuum, and picking up some face-to-face communication skills can help you once you hit the MBA job market. (U.S. News & World Report)
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The post MBA News: Which MBA Jobs Are Most Desirable? appeared first on Business School Insider.
