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pguard
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Forgone salary 22 Aug 2008, 22:15
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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.
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riverripper
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Forgone salary 22 Aug 2008, 22:29
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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.
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Forgone salary 24 Aug 2008, 14:24
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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? :)
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Forgone salary 24 Aug 2008, 15:13
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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
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? :)
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Forgone salary 26 Aug 2008, 06:20
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AZCFA
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.
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Just to be sure... you do realize that post mba salaries are generally more like $100K?
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pguard
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Forgone salary 26 Aug 2008, 07:34
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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.
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Forgone salary 26 Aug 2008, 08:08
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AZCFA
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.
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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.
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Forgone salary 26 Aug 2008, 08:57
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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.
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Forgone salary 28 Aug 2008, 22:12
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AZCFA
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.
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Ditto that!

terp06

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...
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And check...check. Also incorporated in my decision to get an MBA.
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Forgone salary 28 Aug 2008, 22:17
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AZCFA
My #1 is Chicago and my safety is Duke.
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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.
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pguard
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Forgone salary 02 Sep 2008, 13:43
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ryguy904
AZCFA
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.
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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.
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Forgone salary 02 Sep 2008, 14:59
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terp06

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