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How important is last drawn salary?

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How important is last drawn salary? [#permalink] New post 22 Dec 2010, 22:46
Hi

I am an engineer from India and aspiring to do a 12-16 months MBA from a decent, if not top, b-school. I have a GMAT score of 640 and total experience of around 6.5 years, of which last three are as a proprietor of a small trading firm which I started in 2007. However things have not turned out well and am hardly able to recover costs.

This is where my confusion arises. Since I am not earning anything, will it cause some problem in securing me a job post MBA? After spending $40-45K, I would like to get a suitable job to recover my costs. Thus I am wondering how important the last drawn salary is perceived to be. If indeed it will bother me, what would you suggest me to do?

Thanks

NMJ
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Re: How important is last drawn salary? [#permalink] New post 23 Dec 2010, 19:26
Expert's post
nitinmjh wrote:
Hi

I am an engineer from India and aspiring to do a 12-16 months MBA from a decent, if not top, b-school. I have a GMAT score of 640 and total experience of around 6.5 years, of which last three are as a proprietor of a small trading firm which I started in 2007. However things have not turned out well and am hardly able to recover costs.

This is where my confusion arises. Since I am not earning anything, will it cause some problem in securing me a job post MBA? After spending $40-45K, I would like to get a suitable job to recover my costs. Thus I am wondering how important the last drawn salary is perceived to be. If indeed it will bother me, what would you suggest me to do?

Thanks

NMJ


NMJ,

Your last drawn salary is not terribly important when you apply for your post MBA job. The job maket and salary norms in your field at that time will prevail, i.e., what the market will bear.

It is well know that entrepreneurs and self-employed people frequently don't take a regular salary . You can report your business' gross earnings, and as long as you report them as your business' gross earning and not as your salary, you will be OK.

Best,
Linda
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How important is last drawn salary?

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