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fisherwoman
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1 post only and probably wont frequent the forum again since theyre so disgusted by it. not worth the time to feed the trolls
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similar background. totally agree with you man.
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fisherwoman
I found this web site by accident. I am horribly depressed by your self-centered, narcissistic, self-indulgent focus on being "horrified" at starting salaries of $100,000.

This country was lead into a ditch by self-centered egoists like you. I am a 50 something woman with IVY credentials, another top school for an MBA, study abroad, and a law degree. Do you know how long it took me to earn $100K bc of prigs and discrimanatory folks and "men" who ran the international companies you so desperately want to join?

Grow up! You are not worth $100K per year, or half that. No wonder this society is so out of kilter.

DO you even know what is going on with people being unable to feed their families? The whole lot of you should start out as shipping clerks and work your way up.

Beyond that? The "top" B schools and their counterparts should be forced to start again and re think what they are about and what they are teaching.
Because if you folks are any indication, it is truly sick. This country is going down because of the types of people who have "lead" Wall Street, and KPMG and Booze Allen an
Sounds like a friend of mine...she's a prof that teaches women's studies. She also loves to talk about how I should be taxed more than I am, and more money should go to the already bloated Canadian welfare system. When I ask why, if its such an issue to feed the hungry, she feels it's okay to have 2 brand new cars in her driveway, a big house in the burbs, and her own horse kept fulltime at the local stables, she clams up.

Sounds like you have the same issue. How many pro bono cases did you do this year as a lawyer, and how much of your salary did you donate to charity? Why aren't you out volunteering at the local soup kitchen, rather than rant on an internet forum?
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Question for you all

Nervous about my current GMAT level of 600 --> wanting to read something to reduce my nervousness ---> Reading about post mba avg salaries to keep myself motivated ---> Getting more nervous after reading some posts about salary truths ---> really asking myself "why i want an mba?" ---> answering myself " I need MBA for xxxx" ---> reading more posts ---> Medicine vs Law vs Business (Arguments i used my CR on) ---> Lady attacking the 'self-centered' guys (or so perceived to be) ---> Enjoying these 'guys' shooting back at her ---> More CR hah ---> ???? (what comes here)

Answer: Nervouness gone !!!! :)
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Texas McCombs starting at slightly under $100k. I thought with a strong Tech/Finance recruitment scene at McCombs the starting median salary would be above $100k.
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I bet McCombs suffers from people not wanting to leave Austin and taking less money. Texas is a lot cheaper than NYC so the pay is going to be less in most cases. Plus the roles people go into may not be exactly the same so they may get paid less by the same companies. Companies in the same industry can have drastically different pay, Dell's offer last year was extremely weak but a place like symantex pays much higher than the average starting salary.

Dont get wrapped up in the numbers you see reported. Some people BS up and down since its self report and in other cases people dont have an idea of bonus potential. Schools ask for every bit of salary data you can give them but honestly many people dont know if they are getting bonuses and how much it could be. For example my reported first year income was less than what I know it to be now for a variety of reasons. I didn't lie, I just didn't know how things would change post graduation. You could make a lot less or a lot more than average, remember it is an average so plenty of people are above the figure and plenty are below.
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I bet McCombs suffers from people not wanting to leave Austin and taking less money. Texas is a lot cheaper than NYC so the pay is going to be less in most cases. Plus the roles people go into may not be exactly the same so they may get paid less by the same companies. Companies in the same industry can have drastically different pay, Dell's offer last year was extremely weak but a place like symantex pays much higher than the average starting salary.

Dont get wrapped up in the numbers you see reported. Some people BS up and down since its self report and in other cases people dont have an idea of bonus potential. Schools ask for every bit of salary data you can give them but honestly many people dont know if they are getting bonuses and how much it could be. For example my reported first year income was less than what I know it to be now for a variety of reasons. I didn't lie, I just didn't know how things would change post graduation to my benefit.

You could make a lot less or a lot more than average, remember it is an average so plenty of people are above the figure and plenty are below. You are better off looking at the numbers for function and industry, it will be a lot more accurate. There are few outliers in Consulting and banking...the really high ones are returning employees so unless that is you figure you will be right about average. However, in other areas there can be some people who manage to score a gig that pays 50k higher than most everything else. Want to join a GM or marketing role and you could make 95k first year or 150k.
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wow thanks a lot, a good thread to actually calculate the cost for an MBA
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Great thread - lends some perspective as to what to expect. I do have a question I haven't seen the answer for: will a similar gig at the same company pay exactly the same amount for all MBA grads with similar amount of experience? Or does a Wharton grad make more than say, an Anderson grad as a McKinsey associate?

Also, are there 'salary negotiations' involved at all during on-campus recruitment? Most people I've spoken with seem to talk about a salary standard for a particular type of work (120K at Big 3 MC etc.) - can a better negotiator end up with a slightly higher salary than his/her classmates?
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Great thread - lends some perspective as to what to expect. I do have a question I haven't seen the answer for: will a similar gig at the same company pay exactly the same amount for all MBA grads with similar amount of experience? Or does a Wharton grad make more than say, an Anderson grad as a McKinsey associate?

Also, are there 'salary negotiations' involved at all during on-campus recruitment? Most people I've spoken with seem to talk about a salary standard for a particular type of work (120K at Big 3 MC etc.) - can a better negotiator end up with a slightly higher salary than his/her classmates?

For the big 3 consulting firms (McKinsey, Bain, BCG), the pay is standardized, meaning that the pay is based on level, not on school. Other consulting firms (Big 4) have been known to negotiate different terms for different people, but they will still have a standard package. For the most part, mgmt consulting firms have non-negotiable pay/compensation packages. Only thing you can possibly negotiate are starting dates, which office you want to be located in, and relocation reimbursement.

Same with the banks. The pay package is standard regardless of which b-school you went to. Similar to consulting, the only things that can be negotiated are starting dates, which office you want to be based out of, and relocation/moving reimbursement.

Where it also differs isn't which b-school you went to, but also your pre-MBA job. If you were an IB analyst prior to b-school and (God forbid) you want to back to banking, banks have been known to start you as a 2nd year associate (with the higher pay grade and potential bonus). Same with consulting firms - those who have gone back to their pre-MBA consulting firm as post-MBA associates have been reimbursed their MBA tuition, provided that they work at the firm for at least 2 years.
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Thanks, Alex. Makes sense. I was just trying to make sense of the career salary difference between schools such as NYU and Columbia. I can see Harvard grads getting a better position due to its brand but I wonder why a NYU grad will have such an advantage over a Columbia grad (or vice-versa) with all else equal. Perhaps, I'm reading too much into the figures. Also, the data might be too 'dirty' to analyze.
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DrSatisfaction
+1 for that. i started off working in **** jobs. i came from an immigrant family that came to the US and Canada so i can make 6 or 7 figures a yr and i don't apologize for it. my parents worked damn hard to put me through school and help me get to where i am today and i worked damn hard myself to get here too. of course i want to get paid big bucks if i'm going to spend 100k+ for an MBA - this is the whole reason why my family came to North America! we didn't come here for vacation or to relax...we came for a better life and better future that we weren't going to get in our home country - we came for the American dream.

what really makes me laugh is the number of people in this country that like to kick back and debate on/blame the system. if you're not satisfied, do something about it...if you can't change the system, change yourself and adapt and excel in the system. i know employers are prejudiced when they see my resume with my asian name...so i might get less interviews. so what? i just have to make sure the rest of my resume is even stronger. and i just worked harder to do better in my interviews and impress employers more. what is the point of you complaining that you're a woman and the male dominant business world is against you? first, in the global business world, north america is probably the most accepting towards women. second, you can't change the system...just live with it and do the best you can to excel...sure you're at a disadvantage sometimes, so are lots of others...you just gottad do the best with what you've got instead of complaining about the system.

Avernusaur
You are awkwardly bitter and uneducated on the subject. There are a number of people entering business school who already make $100k/year, so the starting salaries are extremely relevant for evaluating the ROI of an MBA that happens to cost $150k+ (not including foregone salary). Beyond that, some of us actually did begin our careers are "shipping clerks" and worked our way up from there. I'm sorry that you spent your entire career at a salary level that you felt was insufficient for your skills because of "prigs and discrimanatory folks and 'men'," but you're in no position to bash other human beings that you know nothing about.

Are there people unable to feed their families? Yes, but what does that have to do with anyone on this forum or in the larger business school community? If anything, MBA students are learning to create wealth, grow pre-existing companies, and start new small businesses... all which create jobs... you know, to feed those hungry families.

This is actually a strong community of good and helpful people. If you want to debate the state of government, the economy, and corruption, I'm certain that you'll find someone to have an intelligent discussion with, but don't introduce yourself by blindly attacking everyone from your ironic high horse.


+1 for that Dr.Satisfaction.
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Thanks, Alex. Makes sense. I was just trying to make sense of the career salary difference between schools such as NYU and Columbia. I can see Harvard grads getting a better position due to its brand but I wonder why a NYU grad will have such an advantage over a Columbia grad (or vice-versa) with all else equal. Perhaps, I'm reading too much into the figures. Also, the data might be too 'dirty' to analyze.

For the kind of insight you're after, you can't really look at compensation figures because as you said it - the data is too dirty to really analyze.

Even for the most money-centric student, money is not the sole factor in their decisions. For example, the non-M/B/B consulting firms have been known to pay a higher salary than M/B/B, but for many MBAs faced with that decision, a good number will still choose M/B/B (which would then lower the "average salary" numbers). There's also geography as well -- NYC- and SF-based firms tend to pay more than others because of the cost of living and labor market, and some firms will include that as well.

Moreover, people simply choose different career paths, and those career simply pay people differently. On the whole, Wall Street pays a LOT more (oftentimes multiples of what you'd get anywhere else over the years), but even pre-2008 it wasn't like the majority of MBAs were clamoring to go into finance. So some schools will simply have a higher average comp because of the preferences of their students.

Ultimately, it still comes down to the individual. Where schools can matter is getting access to that very first meeting (i.e. if you're looking outside of traditional on-campus recruiting, having access to alums in your field can help at least make the cold calling process easier; also, job leads also come from your fellow classmates, and if you have high caliber classmates, chances are they have access to higher quality leads/contacts). But once you enter that door, it's all on you the individual, and from that first interview to the final offer letter - it has little to do with your school, and everything to do with YOU as an individual taken as a whole.
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AlexMBAApply
forsports
Thanks, Alex. Makes sense. I was just trying to make sense of the career salary difference between schools such as NYU and Columbia. I can see Harvard grads getting a better position due to its brand but I wonder why a NYU grad will have such an advantage over a Columbia grad (or vice-versa) with all else equal. Perhaps, I'm reading too much into the figures. Also, the data might be too 'dirty' to analyze.

For the kind of insight you're after, you can't really look at compensation figures because as you said it - the data is too dirty to really analyze.

Even for the most money-centric student, money is not the sole factor in their decisions. For example, the non-M/B/B consulting firms have been known to pay a higher salary than M/B/B, but for many MBAs faced with that decision, a good number will still choose M/B/B (which would then lower the "average salary" numbers). There's also geography as well -- NYC- and SF-based firms tend to pay more than others because of the cost of living and labor market, and some firms will include that as well.

Moreover, people simply choose different career paths, and those career simply pay people differently. On the whole, Wall Street pays a LOT more (oftentimes multiples of what you'd get anywhere else over the years), but even pre-2008 it wasn't like the majority of MBAs were clamoring to go into finance. So some schools will simply have a higher average comp because of the preferences of their students.

Ultimately, it still comes down to the individual. Where schools can matter is getting access to that very first meeting (i.e. if you're looking outside of traditional on-campus recruiting, having access to alums in your field can help at least make the cold calling process easier; also, job leads also come from your fellow classmates, and if you have high caliber classmates, chances are they have access to higher quality leads/contacts). But once you enter that door, it's all on you the individual, and from that first interview to the final offer letter - it has little to do with your school, and everything to do with YOU as an individual taken as a whole.

Good say.
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Completely agree. My comment was purely based on numbers with all else equal - opportunities, classmates caliber etc. which is unrealistic. Good thoughts on the industry focus - a strong finance school will dominate a strong non-profit school.

I like your comments; keep them coming!
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I am working in India and planning to do my MBA in next couple of years. I just need some directions on what kind of school I should look out for as I am planning to work in India itself after graduating.

All types of reply are welcome, as I just want to get rid of my confusions over the tuition fee and living expenses and the salary profiles after the MBA

Thanks in Advance
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atulmogha
I am working in India and planning to do my MBA in next couple of years. I just need some directions on what kind of school I should look out for as I am planning to work in India itself after graduating.

All types of reply are welcome, as I just want to get rid of my confusions over the tuition fee and living expenses and the salary profiles after the MBA

Thanks in Advance

If you're looking to work in India after getting your MBA, I've heard ISB and IIM are both pretty good. I know very little about schools in India, but I'd figure it should be the same operational-wise as anywhere else - look at their employment reports, recruiters, and student satisfaction. If it all matches for you, go for it! :-D
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