In a very unscientific post-Round 2 survey, we asked BSers on the blahg why they were interested in getting an MBA.
Here’s where things ended up after a week:
Clearly this is a case where the quality of the survey results is dependent on the quality of the survey. 😉 EssaySnark is not SurveySnark. The survey could’ve been designed a bit better.
We offer in contrast:
“Alumni GME” means, alumni of graduate business programs (“GME” means “Graduate Management Education” in GMAC-speak). It includes MBA grads along with Master in Management, Master of Financial Engineering, Master of Data Analytics, and all the varied and sundry other graduate programs offered by bschools around the world.
One takeaway is, EssaySnark could do a better job of designing our little surveys. 🙂
Another is, establishing clear expectations upfront, before you embark on this expensive and time-consuming endeavor, could be worthwhile.
It sounds like most people were happy with their post-degree salary — but not all of them are. If we’re reading that correctly, almost 60% of students pursued further studies in order to increase income (a number which actually sounds pretty low) — yet almost 20% of them were not satisfied with the amount of salary increase they achieved. That’s a pretty big chunk of grads being unhappy with salary, especially when you realize that it costs a lot of money to get the darned degree in the first place. Being realistic on expectations – what kind of salary can you count on coming out of school – is likely key.
If you’re an international applicant who’s working in a very different economy, then it can make you googly-eyed to consider the average salaries at places like Harvard and Stanford.
- Those are averages
- The highest salaries are usually offered for jobs in America
- Getting hired as an international worker in the U.S. has never been easy, and the outlook is especially cloudy nowadays
Just because average salary at your target school is $120k doesn’t mean that you’ll land that. You might, if you’re qualified, and if your background shows the appropriate level of skills and achievement. Just keep things in perspective.
Similarly, if you’re already making >$100k a year, then the bump-up from an MBA may not feel that extreme. If you’re in finance and looking to return to finance post-MBA, then ostensibly you’re bringing experiences and a working knowledge set that will make you a more valuable hire, and you can potentially command a higher-than-average wage at your first job after school. But those are the exceptions. To get there, you need to be exceptional. Right? Right.
It’s impossible to ascribe a monetary value to the EXPERIENCE of the MBA. It’s an enriching opportunity, being surrounded by super smart people in a fast-paced environment, where everyone is go-go-go. That alone is worth it for many, based on the personal transformation you’ll experience. You will be challenged. You will have to adapt and to grow. You’ll stumble and fall, and you’ll learn stuff. It’ll be worth it (we hope!).
If you haven’t done so already, you might want to take a little time and jot down the reasons you’ve decided FOR YOURSELF to embark on this Big Deal proposition. It’s gonna change your life.
Do you know how you want your life to change?
Being deliberate about these things, and planning for regular check-ins with yourself to make sure you’re on track with your own inner priorities, will let you make the most of it.