gixxer1000 wrote:
Lich wrote:
kidderek wrote:
Lich wrote:
One question about the salary range: is the range reflective of the middle 80%, like GMAT scores, or is it an absolute range?
I'm going to guess it's an absolute range. I can't imagine having to make 300k to beat 80% of you CBS classmates.
If it's an absolute range then I wouldn't pay any attention to it since it doesn't account for distribution. In that case looking at the medium would be much more useful.
Your right there is no distribution which is why I would pay more attention to the range than I would the median. The median could be 100k with 40 total people and 18 could make $70k another 18 could make $180k with the middle two people making $95k and $105K. Without the distribution you just can't tell. But atleast with the range you know for sure that no one made below a certain point and no one made above a certain point. So all you have to do is to compare your experience with other to get an ideal of where you will fall within that range. I see a lot of people who see that the average MBA at school "XYZ" makes $145k total compensation. But when I look at the ranges I see that alot of people have graduated and only make $60k and $200k.
Hmm, I'm not so sure about your example. Median does account for distribution at a very basic level, approximately half make over the median and the other half lower. That to me is A LOT more useful than an absolute range, which is really just using outliners as examples. It's like saying that the range of in the coming class of HBS has a GMAT range of 450 to 800, which completely obscures the picture of how competitive it is to get in. Using an 80% range or median (which is well over 700) gives a better picture. Anyway, nobody's answered my original question.