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novanative
Joined: 16 Aug 2011
Last visit: 14 Apr 2013
Posts: 378
Own Kudos:
Given Kudos: 50
Status:schools I listed were for the evening programs, not FT
Location: United States (VA)
Schools: McDonough '14 (WL) Smith (A)
GMAT 1: 640 Q43 V34
GMAT 2: 660 Q43 V38
GPA: 3.1
WE:Research (Other)
25 Apr 2012, 14:35
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tctc33
cheetarah1980
At top schools where you work is just as important as what you do, if not moreso
This is so very true. As much as business schools like to brag about their diverse classes, it's not really the case. Look at the series Poets and Quants did recently where they went through the Facebook class pages for several top schools and broke down the class by previous education and work experience. Maybe I shouldn't have been, but I was shocked at what a high percentage of each class came from just a few schools and companies. Of course, I didn't go to any of those schools or work for any of those companies, so I was probably just horribly naive about how that particular treadmill operates.
It's true because the top business schools are made up of really smart students, many, if not most who come from the best colleges.
In terms of where you work, I'd say that b schools accept over half of their students from the same 20-30 companies because those students need that degree if they're going to advance their careers, and it is a natural progression for folks in the consulting companies and the big 4, etc. to get an MBA. Still, it's boring to get a class full of students all from the same industries and companies AND majors where business, econ, and now even engineering make up like half or over half of the class.
PersonalMBACoach
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Expert reply
26 Apr 2019, 14:46
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leokoo
This is my situation:
Gmat Score: I have been preparing it for some time, pretty sure i will get into the 700-730 range.
Work experience: I have been working in a small company (retail business) for 6 years. my title went from IT consultant, to Assistant GM, lastly to General manager. When i was in the management position, the business grew from 2 stores to 6 stores. The business also improved a lot in many other areas.
Undergrad GPA: 2.95, graduated from state U of new york with BS in computer science.
Target school: I am targeting MBA program in the 10-20 ranking. I really like McCombs (Texas), Darden (Virginia) , and cornell (NY).
MY Question:
As the subject stated, my salary is low. I just find out that i have to provide my salary information with the application. This makes me worry.
My starting salary was $20,000, and my ending annual salary is only $26,000. This is because the company just get started, and couldn't afford paying a lot to its employee. The owner offered me shares of the business as he promoted me. i didn't leave the company because i think the experience i got will be useful for my future career.
My concern is that,when my application is being reviewed, would they think that "this guy only making $26,000 a year as a general manager? There must be something wrong."
Is the low salary gonna be a problem? Is there somewhere in my application i can put a explanation about that? or maybe it is not necessary at all?
please give me some advices, THANKS!
Gmat Score: I have been preparing it for some time, pretty sure i will get into the 700-730 range.
Work experience: I have been working in a small company (retail business) for 6 years. my title went from IT consultant, to Assistant GM, lastly to General manager. When i was in the management position, the business grew from 2 stores to 6 stores. The business also improved a lot in many other areas.
Undergrad GPA: 2.95, graduated from state U of new york with BS in computer science.
Target school: I am targeting MBA program in the 10-20 ranking. I really like McCombs (Texas), Darden (Virginia) , and cornell (NY).
MY Question:
As the subject stated, my salary is low. I just find out that i have to provide my salary information with the application. This makes me worry.
My starting salary was $20,000, and my ending annual salary is only $26,000. This is because the company just get started, and couldn't afford paying a lot to its employee. The owner offered me shares of the business as he promoted me. i didn't leave the company because i think the experience i got will be useful for my future career.
My concern is that,when my application is being reviewed, would they think that "this guy only making $26,000 a year as a general manager? There must be something wrong."
Is the low salary gonna be a problem? Is there somewhere in my application i can put a explanation about that? or maybe it is not necessary at all?
please give me some advices, THANKS!
leokoo,
I'm assuming this job was in the U.S.? The disparity in wages between the same job in the U.S. and certain countries overseas can be quite staggering, and $26,000 is actually a good deal of money in other parts of the world.
In my opinion, the low salary is a bit of a red flag and admissions may think you don't have strong negotiating skills or are perhaps too passive. Having equity in the company is great, but you're not even earning minimum wage in some states and 6 years is a long time to hang at that level.
I would certainly take the extra essay space (or even in your main "Why MBA" essay) to highlight the points you make above - that you valued the experience over money, was able to move up quickly in the firm and wear a lot of proverbial hats, oversaw its growth, and was given equity. I would also mention that at this point in time, you feel you have maximized your time at the firm as the owner is not moving in a direction that you agree with. You should also address the salary issue by mentioning you wanted to oversee the firm through its phase of growth and understood that with any start-up, finances are generally very tight and it is a decision you stand by.
I hope this helps, and I do think a clear and concise explanation can help mitigate the low salary. Now make sure to get a 700+ on the GMAT! Feel free to reach out at scott@personalmbacoach.com if you have any more questions.
Regards,
06 Apr 2020, 16:15
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Honestly, if I was you, I would be more concerned with the GPA. But before getting into that I don’t think your salary would affect your application too much.
One reason that I have come across, through various admissions committee interviews and discussions, regarding business schools asking for the salary information is to verify whether you added any real value to the organization you were working at.
Nobody curates an MBA application that doesn’t speak highly of them. Some applicants might even write recommendations themselves, but the salary slip doesn’t lie. If you did not receive a raise on your promotions or your paycheck grew very little over a long period, an admissions committee member can deduce that you weren’t too valuable an employee to the organization.
But, don’t worry too much as it’s more of a relative evaluation. Meaning, your salary won’t necessarily be compared with an employee working in a Fortune 500 company in the same position. It will be compared with the kind of raise and paycheck other employees at your firm or similar firms receive.
But you can explain the reason for a low salary in the optional essay or additional information section.
Coming back to your GPA, schools are much stingier about GPA than any other things. They like to maintain a lower limit for GPA at 3 points. Thus, aim at the highest GMAT score possible for you.
One reason that I have come across, through various admissions committee interviews and discussions, regarding business schools asking for the salary information is to verify whether you added any real value to the organization you were working at.
Nobody curates an MBA application that doesn’t speak highly of them. Some applicants might even write recommendations themselves, but the salary slip doesn’t lie. If you did not receive a raise on your promotions or your paycheck grew very little over a long period, an admissions committee member can deduce that you weren’t too valuable an employee to the organization.
But, don’t worry too much as it’s more of a relative evaluation. Meaning, your salary won’t necessarily be compared with an employee working in a Fortune 500 company in the same position. It will be compared with the kind of raise and paycheck other employees at your firm or similar firms receive.
But you can explain the reason for a low salary in the optional essay or additional information section.
Coming back to your GPA, schools are much stingier about GPA than any other things. They like to maintain a lower limit for GPA at 3 points. Thus, aim at the highest GMAT score possible for you.
