It is currently 22 Oct 2017, 05:31

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Close

Request Expert Reply

Confirm Cancel

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

Forgone salary

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

Current Student
avatar
Joined: 09 Apr 2008
Posts: 197

Kudos [?]: 17 [0], given: 2

Schools: Chicago Booth '11
Forgone salary [#permalink]

Show Tags

New post 22 Aug 2008, 22:15
I understand if this topic is too personal but I was wondering what salary most people are walking away from.

I’ll have 5 years experience in November and I’m walking from $128k/year in Arizona.

Kudos [?]: 17 [0], given: 2

GMAT Club Legend
GMAT Club Legend
User avatar
Joined: 10 Apr 2007
Posts: 4318

Kudos [?]: 762 [0], given: 5

Location: Back in Chicago, IL
Schools: Kellogg Alum: Class of 2010
Re: Forgone salary [#permalink]

Show Tags

New post 22 Aug 2008, 22:29
Averages at most top schools is around 70k...I believe thats only based on people working in the US. They dont factor internationals where people may make 25k or something far too low. Also I dont believe that includes bonuses so a banker could make that for a salary and then more than double it but it goes in as 70k not 160k or whatever.

There are definitely people way above that and people way below that.
_________________

Kellogg Class of 2010...still active and willing to help. However, I do not do profile reviews, don't offer predictions on chances and am far to busy to review essays, so save the energy of writing me a PM seeking help for these. If I don't respond to a PM that is not one of the previously mentioned trash can destined messages, please don't take it personally I get so many messages I have a hard to responding to most. The more interesting, compelling, or humorous you message the more likely I am to respond.
GMAT Club Premium Membership - big benefits and savings

Kudos [?]: 762 [0], given: 5

Intern
Intern
avatar
Joined: 19 Jul 2008
Posts: 34

Kudos [?]: 1 [0], given: 0

Re: Forgone salary [#permalink]

Show Tags

New post 24 Aug 2008, 14:24
How does the school use the salary information in their application? Is it just to compare pre and post MBA salaries or something else?

Do their 'Holistic Process' also takes into account if an applicant can survive the post MBA debt? :)

Kudos [?]: 1 [0], given: 0

SVP
SVP
User avatar
Joined: 30 Apr 2008
Posts: 1867

Kudos [?]: 616 [0], given: 32

Location: Oklahoma City
Schools: Hard Knocks
Re: Forgone salary [#permalink]

Show Tags

New post 24 Aug 2008, 15:13
No school knows if an applicant can survive the post-MBA debt. That's like looking into a crystal ball and predicting who will get a high enough paying job and who will not. This data is purely for informational purposes. There might be some specific thing the school uses it for, but it's certainly not for admissions decisions. I think the school would like to know if it attracted people with very high salaries to their program. This would make me think great things about a school. Average salaries of $100k+ pre-MBA wanted to leave those jobs to attend Kellogg (just using a school's name, not specifically backed up) looks good because those people see value in Kellogg's education which wouldn't be attained in their current job, or they don't like their current industry.

dagrobo wrote:
How does the school use the salary information in their application? Is it just to compare pre and post MBA salaries or something else?

Do their 'Holistic Process' also takes into account if an applicant can survive the post MBA debt? :)

_________________

------------------------------------
J Allen Morris
**I'm pretty sure I'm right, but then again, I'm just a guy with his head up his a$$.

GMAT Club Premium Membership - big benefits and savings

Kudos [?]: 616 [0], given: 32

GMAT Club Legend
GMAT Club Legend
avatar
Affiliations: HHonors Diamond, BGS Honor Society
Joined: 05 Apr 2006
Posts: 5926

Kudos [?]: 2195 [0], given: 7

Schools: Chicago (Booth) - Class of 2009
GMAT 1: 730 Q45 V45
WE: Business Development (Consumer Products)
Premium Member
Re: Forgone salary [#permalink]

Show Tags

New post 26 Aug 2008, 06:20
AZCFA wrote:
I understand if this topic is too personal but I was wondering what salary most people are walking away from.

I’ll have 5 years experience in November and I’m walking from $128k/year in Arizona.


Just to be sure... you do realize that post mba salaries are generally more like $100K?

Kudos [?]: 2195 [0], given: 7

Current Student
avatar
Joined: 09 Apr 2008
Posts: 197

Kudos [?]: 17 [0], given: 2

Schools: Chicago Booth '11
Re: Forgone salary [#permalink]

Show Tags

New post 26 Aug 2008, 07:34
Generally, yes. I will most likely be taking a short term hit....not to mention the cost of living shift from AZ. I'm betting on the upside and the value of the MBA/CFA combo.

Kudos [?]: 17 [0], given: 2

SVP
SVP
User avatar
Joined: 11 Mar 2008
Posts: 1632

Kudos [?]: 213 [0], given: 0

Location: Southern California
Schools: Chicago (dinged), Tuck (November), Columbia (RD)
Re: Forgone salary [#permalink]

Show Tags

New post 26 Aug 2008, 08:08
AZCFA wrote:
Generally, yes. I will most likely be taking a short term hit....not to mention the cost of living shift from AZ. I'm betting on the upside and the value of the MBA/CFA combo.


I can see where you're coming from. It's definitely a long-term investment rather than a short-term one. Additionally, if you went to a state school or other lower-ranked school for undergrad, it may add a lot to your profile immediately and open some doors which were closed previously if you attend an M7. Lastly, I think that average Finance salaries, especially investment management ones, tend to clear way over the $100k average mark.

I'm not sure what your plans are as far as applications, but if I was in your shoes, it would definitely be H/S/W/Col/Chi or bust. I wouldn't bother with any other schools - the opportunity cost is too high to justify attending a lower-ranked school.
_________________

Check out the new Career Forum
http://gmatclub.com/forum/133

Kudos [?]: 213 [0], given: 0

Current Student
avatar
Joined: 09 Apr 2008
Posts: 197

Kudos [?]: 17 [0], given: 2

Schools: Chicago Booth '11
Re: Forgone salary [#permalink]

Show Tags

New post 26 Aug 2008, 08:57
Agreed, Terp.

And, your assessment is spot on. I played bball at a community college my freshmen year and Pac10 after that...my sophmore grades couldn't withstand the pressures of D-1 bball -- it took everything I had to get my graduating gpa up to 3.45. My #1 is Chicago and my safety is Duke.

Frankly, I look at the average graduating salary and take it as a statistic. The average salary at my company is probably around $55k and the average salary of a CFA charterholder is $150k+....all just numbers.

Kudos [?]: 17 [0], given: 2

Current Student
User avatar
Joined: 27 Jul 2007
Posts: 872

Kudos [?]: 206 [0], given: 4

Location: Sunny So Cal
Schools: CBS, Cornell, Duke, Ross, Darden
Re: Forgone salary [#permalink]

Show Tags

New post 28 Aug 2008, 22:12
AZCFA wrote:
Generally, yes. I will most likely be taking a short term hit....I'm betting on the upside and the value of the MBA/CFA combo.

Ditto that!

terp06 wrote:
I can see where you're coming from. It's definitely a long-term investment rather than a short-term one. Additionally, if you went to a state school or other lower-ranked school for undergrad, it may add a lot to your profile immediately and open some doors...

And check...check. Also incorporated in my decision to get an MBA.

Kudos [?]: 206 [0], given: 4

Current Student
User avatar
Joined: 27 Jul 2007
Posts: 872

Kudos [?]: 206 [0], given: 4

Location: Sunny So Cal
Schools: CBS, Cornell, Duke, Ross, Darden
Re: Forgone salary [#permalink]

Show Tags

New post 28 Aug 2008, 22:17
AZCFA wrote:
My #1 is Chicago and my safety is Duke.


AZ - Are you considering Columbia? No offense Rhyme and other GSB folk, but Columbia's IM program rocks Chicago's (which is still REALLY good) any day of the week. Placement in NYC is phenomenal as well.

Also, Darden and Texas (especially the latter if you want to stay in the southwest) are great "backups" for folks on the IM train.

Kudos [?]: 206 [0], given: 4

Current Student
avatar
Joined: 09 Apr 2008
Posts: 197

Kudos [?]: 17 [0], given: 2

Schools: Chicago Booth '11
Re: Forgone salary [#permalink]

Show Tags

New post 02 Sep 2008, 13:43
ryguy904 wrote:
AZCFA wrote:
My #1 is Chicago and my safety is Duke.


AZ - Are you considering Columbia? No offense Rhyme and other GSB folk, but Columbia's IM program rocks Chicago's (which is still REALLY good) any day of the week. Placement in NYC is phenomenal as well.

Also, Darden and Texas (especially the latter if you want to stay in the southwest) are great "backups" for folks on the IM train.



Yes, I'm considering Columbia. My direct supervisor is a CBS grad and he's pushing for it but my fiance isn't a fan of NYC so that's a big barrier.

Kudos [?]: 17 [0], given: 2

Manager
Manager
User avatar
Joined: 28 May 2006
Posts: 152

Kudos [?]: 8 [0], given: 0

Location: New York, NY
Re: Forgone salary [#permalink]

Show Tags

New post 02 Sep 2008, 14:59
terp06 wrote:
I'm not sure what your plans are as far as applications, but if I was in your shoes, it would definitely be H/S/W/Col/Chi or bust. I wouldn't bother with any other schools - the opportunity cost is too high to justify attending a lower-ranked school.

I agree with your point. It leaves me with very few choices and chances. :|

Kudos [?]: 8 [0], given: 0

Re: Forgone salary   [#permalink] 02 Sep 2008, 14:59
Display posts from previous: Sort by

Forgone salary

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  

Moderators: OasisGC, aeropower, bb10



GMAT Club MBA Forum Home| About| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.