As graduating business-school
students hit the job market, they may be in store for more opportunities and
better pay than recent grads. A survey conducted by the Graduate Management
Admission Council found that recruiter optimism about the economy is translating
into more openings this year. Overall, the estimated starting salary for M.B.A.
graduates for 2005 is $78,040, up from $72,021 in 2001-2002. When benefits and
perks are added, the overall compensation package for an M.B.A. hire averages
$96,657.
WHAT TO DO: With signing
bonuses making a comeback for M.B.A.s, see advice in
this WSJ article on how to snag one. Learn about how
to evaluate pay packages, and get advice on how to sharpen your
negotiating skills. Even hiring a pay expert may be in your interest,
this article says. Check out a list of
recommended reading on negotiation strategies from CareerJournal.com. Plus,
review what
M.B.A. recruiters' look for in new hires.
Can I Get a Raise?
Employers in a recent survey reported base starting salaries that ranged from
a low of $34,000 to a high of $103,000. More than half plan to pay their new
M.B.A.s more than $75,000 a year. And more than half of the respondents, 58.3%,
expect to "sweeten the pot" with a signing bonus.
|
Starting M.B.A. Salary
|
% of Employers Offering
|
|
$50,000 or under
|
14.9% |
| $50,001 - $75,000 |
32.4 |
| $75,001 - $100,000 |
51.4 |
| $100,001 or more |
1.4 |
Source: National Association of Colleges and
Employers