Many MBA universities and colleges play up the post MBA salaries of their outgoing batch. It’s one of the parameters that gains enormous importance in global MBA rankings as well. But what does it really mean to MBA applicants who are considering whether to join these business schools?
Averages are like…oh well, don’t worry, we aren’t going to quote Sidhu-isms here. But the fact is an average MBA salary figure quoted on the school’s website doesn’t reveal much for an individual MBA aspirant who’s aiming for, say, a marketing job in a tech firm. The average salary is just a collective reflection of what the previous batch was worth. It is influenced by the kind of roles and industries that were targeted by the last class.
The average salary for your batch will be determined by your classmates…and you. If you choose to get into high-paying industries like management consulting or investment banking, then your salary might be much higher than the average number listed on that website. And vice versa. Schools like Harvard, Wharton, Columbia are feeder schools that pump in tons of students into industries that offer ridiculously high salaries.
So if you really want to get an idea of what you can expect, then check out schools where a major chunk of students get placed in the industry of your choice. But even then, there will be students who get into other industries. So unless a school is providing an industry specific break-up of salaries, there’s no way you can pinpoint the salary range that you can expect upon graduation.