Thursday, February 17, 2011

The Average MBA Gets One Job Offer for Every 3.6 Interviews

Find out how much MBA's made in 2010 and what they had to do to get those jobs from the GMAC annual salary survey of MBAs. Learn what a BATNA is how how its the key to getting that salary you are looking for after business school.

Happy valentines day MBA’s.

(1) Headlines: GMAC MBA Salary Report

If your partner if partner has recently of being stingy, The GMAC says they’re right. The median MBA Salary last year was $94K

That is a lot of padfolios.

To get those jobs the average MBA sent out,
33.3 resumes
6.3 interviews
1.9 job offers

What the heck is 0.9 of a job offer?

Rip last zero off a $100,000 job offer.

This comma is in the wrong place!

That’s because you only sent me .3 resumes.

Great news, 93% of respondents were employed.

Great news, 86% of respondents were employed … by other people than themselves.

Being self employed is a real job!

Are those the people who hang out over at the unemployment office?

Tom, how many times do I have to tell you? that’s the entrepreneurship center.

It’s not like everyone who’s working for other peopl. Here’s an interesting stats, 48% of people opened their search up to lower compensation levels.

48%?! Good god, that means almost half of all MBA’s are earning below-average salaries.

Just one good bubble and we’ll push that number down to 40%. Comeooooooon bubble.

(2) MBA Valentines Gifts
Did you just find out that it was valentines day three days ago? Not to fear, we here at The MBA Show have some last minute gift ideas that can be quickly adapted for a nice valentines day surprise.

Nothing says I love you like a nice leather valentines day card.

Miro: Open card, show audience.

Want something to put flowers in that doesn’t look last minute? That Bain water bottle becomes a nice vase.

Miro: Oh, and look, it’s personalized! Turn around and show back.

We’ll you know those necklaces that have people’s names on them … how about a business school version

I hate you TheRealTomRose … and what’s with the photo????

Gotta stay true to the brand!

(3) Malcom Gladwell hates business school rankings
Malcolm Gladwell, author of Business classics like “Blink” and “The Tipping Point” has 6 page page article in the current New Yorker trashing college rankings as capricious and arbitrary. He says they basically reflect whatever criteria you use.

My god, is that what gladwell looks like? He has a huge afro, I had no idea. If comrade obama has his way, soon this is what all of wall street will look like.

He writes for the New Yorker, what did you expect,

I was expecting a confusing, poorly drawn cartoon.

(3) Jargon: BATNA

This is a term from Negotiation.

Best Alternative to a Negotiated Offer.

Before you go into a negotiation, this is your best alternative of what you will do if you can’t reach a settlement.

When you’re applying for your first job offer, this zero is your BATNA.

The classic example is when negotiating that 2nd job offer... (Or your 1.9th Job offer)

... your BATNA is the salary the other guys offered you.

For example, when I was looking for cohosts for The MBA Show. Mirokaz was my BATNA.

The best way to negotiate from a position of strength is to have an amazing BATNA.

(5) Business School Tip of the Week: Have a good BATNA

So this might be counter-intuitive, but you might want to first negotiate the offer on the job you are less interested in.

This is easier said than done, but it can be worth a lot if you can make it happen.

(7) What’s on your Radar?

Tom: I’m going to Killington Vermont
Miro: Haas Educational Case Compeition

Bonus Content:

Miro: Using BATNA to get three internship offers.

# Book “Re:thinking the MBA, Business Education at a CrossRoads.”
# “rebalancing from the current focus on "knowing" or analytical knowledge to more of what we call "doing" (skills) and "being" (a sense of purpose and identity) must occur.”

# They provide an interesting model of how it could be
# Harvard Med School: 165 incoming students, 10,000 faculty members


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