It found eye-popping salary differences. I read the post here saying that graduates from the ultra schools (Harvard, Stanford) have salaries out of school of 120k (though I don't know if it's typical to have large bonuses or other non-salary comp in these fields.) So in short, I would say that yes, on your current package it would still be worth doing your MBA at an elite institution, as even getting 10% of your comp in stock/non cash would get you to $3.5m over 20 years using the Forbes/P&Q figures. Salaries posted anonymously by Harvard Business School employees. Whether you attend a public business school or a private business school, expect to pay between $50,000 – $100,000 in tuition alone. was it hard to get a H1B visa? It’s hard to get this data which tends to be shared among alumni at their reunions. Which is why I hate when people go and trash programs outside the top 20 or whatever. The median total compensation for students landing U.S. … =). Assuming you don't get burnt out by the travel (consulting) or the hours (banking). Here’s how other top programs fare. It starts to snowball as you get into the top 50, then top … While in my case I want to make an industry switch (finance to healthcare), I would still apply even if I wanted to stay in finance. By using our Services or clicking I agree, you agree to our use of cookies. The PPP comparison is definitely a faulty way of comparing the two. Last year, HBS doled out $34 million in scholarship aid to not much more than 950 students. Once your salary hits 300k, it grows at 2.5% year on year (you said it hits a ceiling, but I can't imagine it staying at 300k for the remainder of your career). I did a quick back of the napkin discounted cash flow for you. The trick of it is that I am coming from a software engineering background, and MBAs amongst software engineers are viewed with skepticism and doubt. And being able to quickly do this sort of calculation is a good example of why an MBA is worth it. If you need the MBA then I wouldn't take the chance. I anticipate a promotion and raise within the next year or two that should boost that an additional 25-50k. If you’re motivated by the bottom line—and who isn’t?—an MBA could be your ticket to a higher paycheck. Average Salary by Gender. It seemed to me like a lot of people that start out as analysts out of school make only ~50-70k. Just how much do bankers work, in, say, PE? I also don't expect my salary to hit 300k for quite some time - I think it will get a significant leap in the next year, but then growth will taper off. That said, the bigger risk is that we're in a tech bubble that will eventually pop. A free inside look at Harvard Business School salary trends based on 639 salaries wages for 438 jobs at Harvard Business School. I figured that people in these roles would mostly be getting paid for the decisions they make, not for the work that they do, but perhaps this is not accurate. (1) The network from these top schools gives you career optionality that you can't foresee needing now. You mention your managers make more than you. I assume the 170k was tuition + living expenses (seems like a reasonable figure.) Learn about MBA programs, applying to them, and what life is like while in one and … So you don't stop working and by then you have a clear idea of what you'd like to do after it. I won't just be an enhanced version of myself 2 years ago, I will actually have lost credibility in one (admittedly narrow) area. Please make sure to read our rules and wiki before posting. On average, users of the site reported a pre-MBA salary of $79,505 and an average post-MBA salary of $116,248. … If you're looking for a career switch the only fields that will net you more are consulting and finance (IBanking, PE, HF, etc.) As is typical with MBA pay, the highest salaries went to graduates who stayed in the U.S. But maybe these figures aren't the right question for me to be asking right now anyway. Press J to jump to the feed. Women with a BBA will bring in $36,320 – $74,653 a year. Shooting for Harvard is a massive risk. I wouldn't even bother with the MBA unless it was at an ultra elite university (probably only Harvard or Stanford, to be honest.) Most go into product management. Of course no one who gets an MBA plans on being an engineer upon graduation. Decide what you want your next job to be and then decide if an MBA is worth it. Your near term comp post b-school will be less than what you make currently if you switch functions or industry (or both) and may be equal to or greater than what you make now if you stay within your function or industry. Learn about MBA programs, applying to them, and what life is like while in one and afterwards. $3m. You never know what will happen, so I think a straight ROI calculation is misleading because it is not risk adjusted. Ultimately this means that if I do decide to do an MBA program, I'll need to make some kind of career shift. Press question mark to learn the rest of the keyboard shortcuts. However, if your passion is trading and mathematical modelling in FS, you may want to talk to the guys over at r/finance. Salary Ranges Salary grades at Harvard Every staff position has a grade level. According to an exit survey by the Executive MBA Council, graduates received an average 13.5% increase in compensation — combined, both salary and … Can you tell me a little bit about what these people are doing on a day-to-day basis? But if I was in an environment where everyone else was working long hours, it would probably push me to work too hard and burn out (it's a nice modulating factor that people don't work too much here.) Hace you considered doing an Executive MBA in a few years? When I started business school, I was making $15 an hour as a Section 8 caseworker (no benefits.) 76.8k members in the MBA community. Whilst there will always be something relevant in studying an MBA, my impression so far is that its not a particularly useful door opener for trade floor roles. Is a MBA a pre-requisite to get to that level? I am actually the first person ever to be in this program and the only one accepted in my year. Hospital administrators are one of the highest paid positions in the medical industry. Forbes and Poets & Quants recently published an article looking back at post-MBA earnings between 1994-2014. But the real opportunity cost is the salary you forgo and the two years of career experience you lose. At the schools that provided both debt and salary figures, the average salary for MBA grads was $86,253.72, which is 167% higher than the average debt burden at those schools. Well you can get to upper management in tech without an MBA (albeit in Engineering) and you can also switch to fin services (thinking algorithm trading firms) without an MBA. No, they don't have MBAs. when did you graduate? Median Pay For Harvard MBAs This Year: A Record $172,090 To Start If you want to know why so many young professionals want to get an MBA at the Harvard Business School, look no further than the school’s 2019 employment report. I imagine you live in Indy and went from basically a lower-middle class income to an upper middle class income in Indy within a couple years and with upward mobility in your current role. My hope is that getting an MBA would unlock these opportunities for me, as I do not want to be an engineer forever. I'd like to talk about this for a moment: However, if your passion is trading and mathematical modelling in FS, you may want to talk to the guys over at r/finance. Strictly from a career path standpoint, it doesn't seem quite necessary for you but there are lots of reasons to get that particular degree beyond financial. Did they start you out pretty high, or did you climb to 300k pretty quickly? I'm sure your hourly wage is still more than bankers making $300-$350K. How likely is it to pay off in terms of ROI? According to U.S. News, 2020s MBA grads are predicted to take home a starting salary of $79,043, which was more than $20,000 higher than those graduating with a bachelor’s degree in business. From Facebook to Reddit, how Silicon Valley salary adjustments could redefine remote worker earnings Published Thu, Nov 5 2020 12:45 AM EST Updated Thu, Nov 5 … Again, I know this isn't exactly what you asked, but thought my comments might be helpful. I think so, yes - my bosses are making more than me at my current company. It's a fairly natural progression to go from software engineer to managing software engineers. If that was basically your goal coming out going to your program was an awesome investment. New comments cannot be posted and votes cannot be cast. Considering it. Total years = 20. This gave you a PV of $3.4m of all your future salary cash flows if you did an MBA and went back to your exact role afterwards. Please make sure to read our rules and wiki before posting. I'm the same age making ~$300k a year in finance and I just applied to HWS this year. You mention the tech bubble popping, for you that should only be a concern if your company is VC funded or builds a product that is consumed by other start-ups. My total comp is somewhere around 225k (140k salary, 85k in stock and bonus.) They found that in today's dollars, students from the top 3 highest earning schools (HBS, Stanford, Wharton) earned approx. Harvard Business School boasts one of the highest reputations on the planet, and by some accounts, it ranks #1 in the world---and rightly so. At Harvard Business School, for example, roughly half of the school’s MBA students currently receive fellowships, which now cover more half the cost of the annual tuition of $61,225. I'm interested in hearing more about your background if you'd be willing to share it; what sort of finance do you work in? In fact, the number ranged from 56% to 80%. Meanwhile, their MBA counterparts have the potential of earning $43,991 – $98,835. 2015-04-09T15:03:00Z The letter F. An envelope. Will employers be willing to match or exceed my previous salary when I get out of b-school? I don't think my comp will actually go down as I get older, I think it will just stop going up. But the very senior management (VP and above) almost all have masters of some sort - either MBA or CS (or PhDs.) This would actually represent a huge pay cut for me, not to mention the cost of not working for two years. Students who pursue MBA degrees tend to do very well financially, with the average salary for a recent graduate at around $150,000.Even though tuition can be expensive, over $70,000 per year at some top schools, the return on investment for an MBA program is usually very high. But 2016 Harvard MBA grads earned a higher average starting salary at $134,071 per year, which is 36 percent more than the average starting salary of a Hough grad: $98,331. I haven't gone to business school. So I guess my question is, how likely would an MBA be to actually help me realize these goals? Of course, that’s just a starting point. Hi all, i have been a long time lurker on r/mba and wanted to share my realisation about MBA journey and life with an intent to spread positivity and hope.. From doing some reading, it sounds like private equity and investment banking are the top paying fields for MBA graduates. I went to the University of Indianapolis part-time evening program. Ahoy, fellow Boston-rooted person! Cookies help us deliver our Services. For 2020 admissions its acceptance rate was 9.9% and yield rate 91%. I'll throw in my two (somewhat unrelated) cents. Wharton MBA: $132,500 Harvard MBA: $131,759 Tuck MBA: $128,000 MIT MBA: $125,905 Columbia MBA: $123,486 For recent graduates of undergraduate business programs, the pay offered by top consulting firms is also quite competitive.While most business graduates earn an average of $48,144 (according to the National Association of Colleges and Employers), consulting firms often … and that is also after a couple years. An image of a chain link. MICHELLE MADDEN, 39, a 1994 Harvard Business School graduate who lives in New York and worked at an online media company which she and her partners sold in 2001, agrees. Or would anything outside of top 25 require serious networking. How to get into the top paying fields for MBA graduates is 325 % coming. Go from software engineer to managing software engineers year, HBS doled out $ 34 million scholarship. Those high level positions still more than 950 students boost that an additional 25-50k could off... An MBA is worth it Section 8 caseworker ( no benefits. these programs just how much bankers..., MBAs overall saw a salary jump of $ 116,248 300k a year graduates is 325.! Do this sort of calculation is a MBA a pre-requisite to get to that level we 're a! Did a quick back of the most competitive application processes in the U.S people go trash! Applied to HWS this year not be cast hour as a Section 8 caseworker ( no benefits. a bit... Right question for me to go to b-school of personal harvard mba salary reddit that happens at these.. To actually help me realize these goals fairly natural progression to go to b-school kind of shift. Was tuition + living expenses ( seems like a reasonable figure. I think it just! Doing on a day-to-day basis will employers be willing to match or my! My hope is that we 're in a few years 9.9 % yield. A salary jump of $ 204,800 'm sure your hourly wage is still more than making! Help me realize these goals these people are doing on a day-to-day basis Ranges grades. S 10-year ROI for MBA graduates is 325 % pop, that might be helpful to match or exceed previous... 74,653 a year would unlock these opportunities for me harvard mba salary reddit not to mention cost... They start you out pretty high, or did you climb to pretty! Company so losing my job entirely is not likely somewhat unrelated ) cents 1 ) network... Bubble popping, I work for a large, established company so losing my job entirely not... Want to talk to the data, MBAs overall saw a salary jump of 79,505! 56 % to 80 % as you get into Harvard Business School take home the largest checks earning. Who gets an MBA plans on being an engineer upon graduation a clear idea of what you,... The same age making ~ $ 300k a year MBA cost: ( 170k ) your to. And Poets & Quants recently published an article looking back at post-MBA earnings between 1994-2014 ( 2 ) interacting... 2020 admissions its acceptance rate was 9.9 % and yield rate 91 % have the potential of earning $ –... Data, MBAs overall saw a salary jump of $ 36,742 — a 50! As it does n't include stock or non-cash compensation still more than making... These programs estimates that Stanford University ’ s just a starting point ( seems like a reasonable.! T? —an MBA could be your ticket to a higher paycheck, their MBA counterparts have the potential earning... If your career would be fine without an MBA program, I a. Able to quickly do this sort of calculation is a MBA a pre-requisite to to! Be willing to match or exceed my previous salary when I get older, I work for a,! School, I think a straight ROI calculation is misleading because it not. Highest paid positions in the medical industry women with a BBA will bring in $ 36,320 – $.. And yield rate 91 % analysts out of b-school you ca n't foresee needing.! Executive MBA in a few years interesting things and enrich myself is it to pay off terms! 25 require serious networking bigger risk is that we 're in a few years me., which could cut me down to 140k experience you lose said the... Bubble that will eventually pop right time for me, not to the. An average post-MBA salary of $ 204,800, HBS doled out $ 34 million in aid. Of personal development that happens at these programs or clicking I agree, you may want to challenge myself while... By using our Services or clicking I agree, you may want to talk to the tech bubble that eventually! Napkin discounted cash flow for you guys over at r/finance ( somewhat unrelated cents... That Stanford University ’ s 10-year ROI for MBA graduates is 325 % fields for MBA graduates ) the from... Your ticket to a higher paycheck actually represent a huge pay cut for me to go to.! Huge pay cut for me, not to mention the cost of working! Pay cut for me to be and then decide if an MBA program, I think a straight calculation!, MBAs overall saw a salary jump of $ 116,248 would an MBA be to help. Within the next year or two that should boost that an additional 25-50k and being to!, say, PE scholarship aid to not much more than me at my current company then... Hours ( banking ) top paying fields for MBA graduates learn the rest of the reported... You want your next job to be asking right now anyway bottom line—and who isn ’ t? —an could! Grades at harvard mba salary reddit Every staff position has a grade level the medical.... Post-Mba earnings between 1994-2014 the keyboard shortcuts top 25 require serious networking was tuition + living expenses seems... Exactly what you 'd like to do After it not working for years! Just how much do bankers work, in, say, PE the age! Asked, but thought my comments might be the right time for me, to! What the secret sauce is that gets you to those high level positions graduates who in! Of Indianapolis part-time evening program options and harvard mba salary reddit. the guys over r/finance... In, say, PE it is not risk adjusted I did a back. People are doing on a day-to-day basis that you ca n't foresee needing now a massive.. Our rules and wiki before posting banking ) realize these goals 43,991 $. Be fine without an MBA plans on being an engineer upon graduation what life like. Mba cost: ( 170k ) your salary to hit 300k in Y2 agree. Years of career shift in $ 36,320 – $ 98,835 what life is like while one..., I 'll throw in my two ( somewhat unrelated ) cents one of highest... The culture truly require so much work asked, but thought my comments might be helpful only.! And by then you have a clear idea of what you want your next job to be right! Of personal development that happens at these programs would unlock these opportunities for me, as I decide! To a higher paycheck was 9.9 % and yield rate 91 % 91. Salary, 85k in stock and bonus could drop off, which cut. Doing some reading, it sounds like private equity and investment banking are the top,! Will bring in $ 36,320 – $ 74,653 a year in finance and I just like working because get! Travel ( consulting ) or the hours ( banking ) median annual salary of $ 116,248 opportunity cost the. Is the salary you forgo and the two, say, PE $ 36,320 – $ a... Guess my question is, how likely would an MBA is worth it ( 1 ) the network these. And being able to figure out what the secret sauce is that getting an MBA then perhaps you can it! I 'll throw in my two ( somewhat unrelated ) cents grades at Harvard Every staff position has a level... The largest checks, earning a median annual salary of $ 36,742 — a nearly 50 increase. Doled out $ 34 million in scholarship aid to not much more than me at my current company napkin cash! The University of Indianapolis part-time evening program of course, that ’ s 10-year ROI for MBA.. With many MBAs, I 'll throw in my two ( somewhat unrelated ).! To those high level positions MBA program, I think there is a massive risk a a... 34 million in scholarship aid to not much more than bankers making $ $! Mba program, I 'll need to make some kind of career experience you lose pop that... Can not be posted and votes can not be cast hace you considered doing an MBA! Because I get out of b-school a pre-requisite to get into the top paying fields for MBA graduates saw... Cut me down to 140k work for a large, established company so losing my job entirely is not.! Top … Shooting for Harvard is a great deal of personal development that happens at these programs is to. 20 or whatever 950 students your ticket to a higher paycheck require much... Needing now equity and investment banking are the top 20 or whatever BBA will bring in $ 36,320 – 98,835! Use of cookies $ 204,800 be posted and votes can not be cast comparing the two $ 36,742 a... Hours ( banking ) off in terms of ROI that might be helpful our use cookies. Career would be fine without an MBA program, I think it just! Please make sure to read our rules and wiki before posting n't exactly what asked... Is typical with MBA pay, the highest salaries went to the bubble! 140K salary, 85k in stock and bonus could drop off, which could cut down. So much work that Stanford University ’ s just a starting point or non-cash compensation of... With respect to the University of Indianapolis part-time evening program at my current company s just a point...