Thursday, May 19, 2011

2011 MBA Jobs Report: Salaries are up!



The 2011 GMAC jobs report is out. MiroKaz and TheRealTomRose discuss which metrics have gone up, and which have gone down. Also, learn how to build your resume in three easy steps.

(1) Headlines: The 2011 Jobs Report is out!!!

[Very excited]

Everything is up!!

What’s up doc?

Average salary is up to $91K from $89K last year
The average b-school salary increase was 73% over pre-b-school salaries.

That makes my wallet feel nice and happy.

Last year 32% of MBAs had jobs in March. This year, 54% of MBAs had jobs in March.

[Math on paper] Miro: If this trend continues, by the time the entering MBA class graduates in 2013, 98% of them can expect to have six figure job offers in March.

[miro reaction]

That means they’re basically guaranteed to get jobs.

Both: Woooooooah.....

[Realization] Wow, if everyone is going to have a job after graduation,

This changes everything! Now that we’re all guaranteed to get high paying jobs...

- I can finally stop focusing on studying around the clock and go out drinking on weeknights

- I can take out $100k in student loan debt that we didn’t need in the first place!

- I can use loan money to pay for lavish international sailing vacations in the Caribbean!

- I can go out for expensive dinners and act like part of the elite.

- Instead of insisting that all money be poured into our education with can throw a shit fit at any noon meeting that doesn’t have a catered, non-pizza lunch

- I can pay $150k for a piece of paper that frankly my parents wish were a law degree.

- I can finally pay our share of the class gift! Woah woah, let’s not get crazy here. That’s $50 a year you know.

http://www.ft.com/cms/s/2/61afa41c-7aef-11e0-991a-00144feabdc0.html?ftcamp=rss#axzz1MeAPjzAR
http://poetsandquants.com/2011/05/10/class-of-2011-more-job-offers-higher-starting-pay/
http://www.vault.com/wps/portal/usa/blogs/entry-detail/?blog_id=1461&entry_id=13295
http://www.gmac.com/NR/rdonlyres/7EFAF983-BEA9-4A6C-B7BE-7E01B1D94D80/0/2011CRS_SurveyReport_WebRelease.pdf

(3) Jargon: Fractional Jet Ownership
Minimum 5 year contract
1/16th of a Jet is 50 hours of flying a year
at least $400K to get in plus about $250K a year plus $1500/hour

Buying a jet costs an average of $5M and $1500 an hour plus a full time crew.

http://www.netjets.com/default.asp

(4) Business School Tip of the Week: Build your resume bullets
Think of your summer internship from a resume point of view.
You’ve already got the top line. You know what company you’re working. Now it’s the time to work on the bullets underneath.

Start strategically planning your summer based on what you need to achieve to have credentials coming OUT of the summer. You need to get staffed on good projects NOW.

What does good project mean?
MEASURABLE OUTCOME

TIME FRAME THAT YOU CAN INFLUENCE

Size where You can have an impact.

BONUS CONTENT: HOW TO GET STAFFED

5) What’s on your Radar?
Miro: Old friend coming into town. an acutal journalist
Tom: Flying to a caribbean. I’ll be using USAir’s fractional seat ownership program.

23 comments:

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