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Is a top-ranked MBA program worth the debt?
The gender pay gap persists, top-ranked business school graduates size up average salary against their debt, and an MBA namesake passes away—let’s dig into the latest headlines in business education and MBA news. Leave your comments below.
Average salary vrs. debt at graduation
While it’s true that graduates from top-ranked MBA programs tend to earn the highest starting salaries, it’s also true that a lot of their initial earnings will go to pay off their student loans. Prospective business school students for whom this is a foremost concern should look at the difference between average yearly base salary and the average debt of graduates who borrowed to pay for their education. Prospective business students who want to attend a top-ranked MBA program with the highest salary for graduates should take a look at Stanford Graduate School of Business. Its graduates who are employed within three months after collecting their degree tend to earn the highest average annual salary, at $129,618—and those who borrowed left school with about $77,600 in debt, on average. (U.S. News & World Report)
The persistent pay gap
Despite businesses’ efforts to increase the number of women in positions of power, progress on achieving pay parity between the genders is slow and may even be going in the wrong direction since the Great Recession, new research finds. The deputy dean of Henley Business School in the U.K. says that the pay gap exists because women don’t get the same opportunities as their male counterparts, so opportunities to advance are not the same. New research by BNY Mellon and Cambridge Judge Business School found that education is one of the best ways to increase female representation on boards.
Namesake of top-ranked business school passes away
On the sadder side of MBA news, Gordon S. Marshall—the namesake of the University of Southern California’s Marshall School of Business and a USC trustee—died last week at the age of 95. A World War II veteran, Marshall graduated from USC in 1946 with a degree in accounting before starting his own electronic distribution category in the early 1950s. Marshall Industries became a $3 billion company and one of the country’s top five distributors of industrial electronics. He also gave generously both to the university and other organizations. In 1996, Slate named him one of the top 10 U.S. philanthropists. That same year, Mr. Marshall gifted the USC business school $35 million, at the time the largest single donation to any American MBA program and the second largest donation in the history of the university. The school will hold a memorial service for him in the fall. (The Daily Trojan)
Five steps to MBA admissions success
If you want to be the most successful MBA applicant you can be, try to embody the following characteristics: 1) Show leadership. 2) Show strong quantitative competency (That means do fantastic on the GMAT). 3) Show strong communication skills (that means submit well-written, compelling personal essays and ace the interview). 4) Set realistic post-graduate goals (becoming the new CEO of Apple by 2020 isn’t realistic). 5) Submit stellar letters of recommendation (that means someone who knows you well and who has faith that your endeavors will be successful). (U.S. News & World Report)
Business school intangibles
One aspiring MBA at Harvard Business School reflects on his first year. Some pieces of advice include planning ahead, creating a diverse network of friends, and engaging in lively debates—but keep your emotions at bay. (The Huffington Post)
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The post MBA News: Top-Ranked Means More Debt appeared first on Business School Insider.
