Most business schools are still compiling the final career statistics for the MBA Graduates Class of 2014 and will not release their pay and placement data for another month.
Last week, however, two highly ranked schools published their stats and they are among the best endorsements for the value of the MBA degree. Their numbers indicate that MBA graduates are now making $185,000 right out of school.
At Dartmouth College’s Tuck School of Business and the University of Michigan’s Ross School of Business starting salaries were up as well as job offers and acceptances this year at levels not seen since before the Great Recession.
Tuck School of Business reports that 91 percent of the class, which graduated on June 8 had offers- exactly the same as last year- but that number zoomed to 98 percent three months later.
Average starting salaries
account to $117, 860, up 2.5 percent from $115,031 a year earlier. Average signing bonuses –reported by 97% of the class- were $28, 712, while other guaranteed compensation averaged $34,431. For an MBA graduate, who get all three forms of compensation, the average totals to $181, 003.
The 502 MBA graduates in Ross Business School class of 2014 are also doing really well. The average starting salaries rose by 3.5 percent this year to $115,309 from $111,417 in 2013. Median signing bonuses were the same at $25,000, while other guaranteed first-year bonuses were at $16,750, up from $15,000 a year earlier.
89.2 percent of the class received job offers by graduation, up from 85 percent in 2013, while 93 percent had job offers three months after commencement, up from 88.7 percent a year earlier.
The highest starting salaries at Ross were achieved by MBAs who went into consulting, which attracted 1/3 of the entire class. The average base salary for consultants this year was $135,000, with 98 percent of the MBAs reporting they had also received median signing bonuses of $25,000 and 60 percent reporting other guaranteed median bonus of $25,000. Students who got all three forms of compensation in consulting have left Ross with starting median pay packages of $185,000.
This clearly indicates that the MBA degree is among the most valuable graduate degrees anyone could get.
Source: Business Insider