It’s a good time to be receiving an MBA degree. In a market in which jobs are plentiful and coveted employees are hard to land, it’s unsurprising that starting salaries for graduates of top MBA programs are skyrocketing. Early on during the COVID-19 pandemic, starting salaries for MBA graduates leveled off but, well, as Bob Dylan sang it, the times they are a-changin’. The University of Chicago’s Booth School of Business and The Wharton School of the University of Pennsylvania have both reported notable increases in the median starting salaries of their MBA grads: $5,000 increases to be precise (to $155,000). Among Duke University’s Fuqua School of Business graduates, starting salaries rose 4% (to $141,000).
As Patrick Thomas reports for The Wall Street Journal in a piece entitled “M.B.A. Starting Salaries Are Soaring,” “Compared with other graduate degrees, the M.B.A. tends to pay off in the job market. Graduates at most programs typically made more money two years out of school than they had borrowed, a Wall Street Journal analysis of federal data found. Salaries for M.B.A.s had generally risen for years before the pandemic led many corporate recruiters to shelve their usual hiring plans. The median salary for M.B.A.s across the U.S. was flat at $105,000 for last year’s graduates, according to the nonprofit Graduate Management Admission Council. But that figure is projected to reach $115,000—an all-time high—for 2021 graduates as the labor market continues to recover, according to a recent GMAC survey of corporate recruiters.”
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