Wednesday’s Headlines: MBA Starting Salaries Stuck at $90k, But Future Comps a Mixed Bag
Big surprise: the bigger the school, the better the pay. But there were a few "Ah ha!" moments in a Bloomberg/PayScale report on MBA pay over the near- and long-term.
According to GMAT publisher Graduate Management Admission Council, median starting salaries for MBAs have been stuck at $90,000 since 2008. But what is the value of these degrees over the course of a year? And what about the earnings gap between top-tier and lower-ranking schools? These are the questions that a Businessweek article asks.
Not surprisingly, HBS ranked No. 1 in 20-year pay of $3,639,643, followed closely by Wharton and Stanford. Overall, on average, graduates of all 57 programs factored into the survey earned about $2.4 million over 20 years, or $122,513 each year, up just slightly over last year, while the average 20-year earnings at the top 10-ranking schools rose 3.6 percent.
Meanwhile, schools with the lowest starting salaries tended to see the biggest pay increases. While overall MBAs saw their pay go up 90 percent over two decades, University of Georgia alumni pay went up 174 percent and MIT grads saw comps grow by just 41 percent.
Goldman aims to make China its Asia-Pacific hub. [Forbes]
World Bank: The global economy faces years of volatility on Europe's debt. [WSJ]
Fidelity scrutinizes fund managers. [Reuters]
China’s banks face a profit squeeze. [WSJ]
The London Stock Exchange has unveiled a sweeping management shake-up. [Telegraph]
Bank of Ireland sold $250 million worth of infrastructure loans to Aviva. [Telegraph]
ING will pay $619 million in fines for a cover up of billions in fund transfers to Cuba and Iran. [WSJ]
A team of three advisers managing $450 million left MSSB for Wells Fargo. [Investment News]
Top 40 hedge fund managers. [Forbes]