“Bitterman! Do you want to double your salary?”
“Then open that door!”
– From movie Arthur (1981)
This conversation on how to increase salaries talks about opening that door and the door in year 2007 very well can be an MBA door.
Imagine you completed your MBA and are out of that MBA door , Those MBA’s looking to get into the high-salary world would definitely need to have a road map to do it.The first road map I believe to high MBA salary is Job categories.Most MBA’s will go for a career change that lands them in different Job categories either passion wise or for monetary benefits or some thing else.Rather than passion if you want to jot down job category by salary here is the chart for median salary by Job categories for year 2007 from pay scale. If you analyze the pay by Job – ‘finance’ industry is a top payer.”Make the numbers and get the numbers”.
If a degree is from a top ranking school then that pays off way more than the industry average salaries. As Economic Times reports this year Wall Street took MBA pay to new heights – “Competition for MBAs from banks like New York-based Citigroup and Goldman Sachs may push starting-pay packages above last year, when graduates averaged a record $186,174 in total compensation at Harvard Business School and $183,000 at Stanford University’s Graduate School of Business.”
Executive Career Guide for MBAs
“Northwestern’s Kellogg School reported average total compensation of $150,942 for its graduates last year. The Wharton School reported $167,607, and Columbia University’s Graduate School of Business in New York, $169,194” .
With the strong job market that is adding more and more Jobs, Year 2007 seems to be rocking salary year for MBA graduates.