What is the main inspiration behind joining an MBA program? It varies from student to student for sure, but it won’t be an exaggeration if we say that post MBA job and compensation offered play a crucial role in the growing popularity of the international MBA programs.
Especially in case of a fresher, who has just finished his bachelor’s from an undergraduate college and has enrolled in an MBA program so as to enhance his resume and get better paying job opportunities. The bright job prospects after MBA, which the students enjoyed between 2003 and 2008, had led to a tremendous increase in the number of students applications to business schools. The society as a whole considered education as one of the best forms of future investments with secured and high return on investment.
The stock market crash of 2008 shattered the dreams of those who graduated in the year 2009, not only from the business schools but also from universities offering various other graduate courses. Forget the decline in hiring, corporate organizations were downsizing their workforce at a nightmarish rate.
However, the good times are here again and the business schools all over the world are reporting increased hiring by the Fortune 500 and Forbes corporate organizations. Along with the increase in the placements, the average MBA salary has also shot up, fuelling the demand for a degree in business administration from the best MBA college.
The average salaries for the class of 2010 ranged from $65,286 to $126, 181, which is very good by all the standards. The executive MBA graduates landed better and still higher paying offers with the salary for the directorial posts going as high as $150,000. The maximum increase in the compensation package was seen in the investment banking and financial consulting jobs, with Bank of America Corp emerging as the best recruiter, offering an average salary in the range of $60,000 to $125,000, depending upon the business school and the work experience of the candidate.
There has been a hike in the salaries for Project Manager, Financial Analyst, Senior Financial Controllers and Human Resource Managers as well. It came as a surprise to the admission counselors and MBA statisticians when the IT companies like Microsoft Corp, IMB, HP and even Facebook enhanced their campus recruitment programs to target more number of potential employees from the best business schools in the country.
