Getting your Masters in Business Administration requires hard work, commitment and a shitload of money. That’s why a lot of people continue to question whether the rewards the degree can get you are even worth the trouble of attaining one.
According to WSJ, the answer is no. New statistics are showing that the average amount of money earned by people with M.B.A’s is frighteningly less than most would expect.
“The M.B.A.’s lot is partly reflected in starting pay. While available figures vary by schools and employers, recruiters’ expected median salary for newly hired M.B.A.s was essentially flat between 2008 and 2011, not adjusting for inflation, according to a survey by the Graduate Management Admission Council.
For graduates with minimal experience—three years or less—median pay was $53,900 in 2012, down 4.6% from 2007-08, according to an analysis conducted for The Wall Street Journal by PayScale.com. Pay fell at 62% of the 186 schools examined.”
Odds are that if you go to a highly reputable school, the chances of you making more money than predicted are probably larger. However, the job market is getting slimmer every day. In 2010-2011, the number of graduating MBAs was 74 percent higher than it was in 2000-2001.
Sean Levinson | Elite.