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Salaries & Bonuses Slashed

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Salaries & Bonuses Slashed [#permalink] New post 24 Jul 2008, 15:19
Hey guys,

I'm in the funds management industry and needless to say, things aren't going so well for everyone in this industry right now. As a result, salaries are frozen and bonuses slashed. I'm just wondering how this is going to look when you enter your compensation details as part of your application ... surely schools must take this into account?
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Re: Salaries & Bonuses Slashed [#permalink] New post 24 Jul 2008, 15:23
BSchoolorBust wrote:
Hey guys,

I'm in the funds management industry and needless to say, things aren't going so well for everyone in this industry right now. As a result, salaries are frozen and bonuses slashed. I'm just wondering how this is going to look when you enter your compensation details as part of your application ... surely schools must take this into account?


I think it's understable. In my case, due to the turmoil that my company experienced (financial services industry), I missed out on a promotion and salary bump, and not to mention, my 2007/2008 bonus was peanuts compared to the previous year.
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Re: Salaries & Bonuses Slashed [#permalink] New post 24 Jul 2008, 15:34
I am having the same problem and am planning to throw a one or two line explanation into the optional essay. I think they know this, but it may help them understand your company's situation better if you briefly explain it. My guess is that they are going to cut finance people some slack this year -- I don't mean lowering the admissions standards, but there is going to be a lot of "weird crap" that happened to people, so the adcom is probably more willing to look at people with "pro forma" career results as long as the impact has been recent and attributable to the credit crisis and current market conditions. Anyway, even if that is not the case, no point in worrying about it since you can't change it now! :roll:
Re: Salaries & Bonuses Slashed   [#permalink] 24 Jul 2008, 15:34
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