An MBA can turn out to be a very costly affair, in terms of the tuition fee, living costs and the fact that you’ll not be working for the duration of your MBA and hence it’s extremely important to understand the Post-MBA opportunities in terms of jobs, salary and the career growth.
It’s almost a given that a good MBA degree adds value to your CV along with other benefits such as exposure, network, business acumen and the Brand, however another important factor that needs to be looked at is the Average salary and the role’s a Post-MBA grad can obtain.
Let’s first look at some of the top sectors that Post-MBA students get into:
- Financial Services
- Health Care
- Entertainment / Media
- Real Estate
As mentioned above a MBA grad can look at multiple sectors based on the MBA specialization, Internship, previous work experience, interests and skills. Almost every B-School has career services centre which the students can access to search for jobs, interact with companies, network, and fine tune the CV along with strategizing the whole Job search process.
Apart from the career services one major advantage good B-Schools posses are the Alumni network which can turn out to be the biggest advantage to find the right job, and the strength of the Alumni network lies in the diversity and mere number of connections that an MBA student can access, for e.g. Wharton School of Business reports to have an alumni strength of 88,000 spread across 145 countries and 78 Alumni clubs, similarly Chicago-Booth reports of having 45,000 alumni with 60 clubs spread across the globe., as it’s evident from the above two examples a good B-School gives you an immense advantage globally that would not just help Post-MBA , but can also prove to be the key for the long-term , you may possibly attain access top executives, CEO’s , VP’s or Entrepreneur’s who may turn out to be your Investors!.
Lets now focus on the “$ – Factor”, what salary can you expect graduating from a B-School? Most top B-Schools report an Average starting at least $90,000 – $100000; The London School of Business statistics show the mean salary to be $ 113,316, while the Wharton School of Business reports the average to be $110000, while The Indian School of Business showed the average salary of $121008 for their International placements and INR 1,792,715 for domestic placements, the salary trends remain encouraging overall even if we go down the rankings of the B-Schools for example The Queens School of Business, a Canadian B-School shows the average salary of $89,711 while Darden School of Business in Virginia shows the average salary to be at $100,839. The averages remain similar across the globe in B-Schools as evident from the employment statistics of Rotterdam Business School in Netherlands, which shows the base salary of $92,000.
Having had a brief idea on the salary averages, let us also have a look at the sector-wise placements, which can give a fair idea on what’s hot and what’s not!? One common trend observed in most B-Schools is the high percentage of placements in Consulting, Technology and Financial Services, which consistently remains the most placed sectors, to get a better idea of the placement statistics we are referring to different B-Schools from different regions and analyzing the same, the below numbers should give you a good picture of the trends. The B-Schools used for the comparison are The Wharton School of Business (USA), London Business School (UK), Indian School of Business (India), Darden School of Business (USA) and Queens Business School (Canada).
- Wharton : 40.5%
- London Business School: 38%
- Indian School of Business: 12%
- Darden Business School: 28%
- Queens: 31%
- Wharton: 29.1%
- LBS: 25%
- ISB: 32%
- Darden: 25%
- Queens: 10.3%
- Wharton: 5.6%
- LBS: 9%
- ISB: 21%
- Darden: 9%
- Queens: 27.6%
One factor that needs to be noticed is the drastic difference in percentage of recruitment from one B-School to the other in the above statistics, for example Wharton reports high placement percentage in Finance and Consulting while the technology placements are considerably lower on the other hand ISB places high number of students in Consulting and Technology sectors while Finance sector is comparatively lower, this should also be one reason to pick the B-Schools carefully based on the strength of the School.
Finally let us see some of the top roles an MBA Grad can target based on the program opted, experience and Performance in the school are:
- Business Analyst
- Portfolio Managers
- Business Development Managers
- Financial Controller
- Operations Manager
- Sales Manager
Hope the article has given you an overview of what Jobs, salaries and roles to expect Post-MBA.