Sunday, August 26, 2007

MBA Salary

** A 2013-14 update to this post is now available **

MBA Salary 2009

With the economic climate having changed considerably since last years class of MBA students graduated, it should be interesting times for the most recent grads. While final salary numbers won't be available until the fall, I'd expect the final numbers to fall well below the 2008 grad class figures. US schools are having a very difficult time finding placements for all of their grads and the story is somewhat similar in Canada. Regionally, Ontario schools may be the hardest hit. To give you an idea of where the schools are coming from, 2008 grad salaries are presented below.

MBA Salary

Rotman (University of Toronto) $89,698
Queens $80,000
Schulich (York University) $93,000
McGill $87,000
Sauder (University of British Columbia) $78,000
Ivey (University of Western Ontario) $103,000
Alberta $75,000
DeGroote (McMaster) $65,026
John Molson (Concordia) $75,000
Telfer (University of Ottawa) $81,346
Asper (University of Manitoba) $75,000


Looking back on the original post below, I still think it is more important to follow your interests rather than chasing the highest starting salary possible. The FT rankings, which present salary figures 3 years after graduation, are somewhat similar. I'd venture a guess that over 10-20 years the salary for those that followed their interests is higher than those who didn't.


Rotman MBA Salary

Today I took a look at the MBA Graduate & Internship Career date from the University of Toronto. For the graduating class of 2006, the mean salary of a graduate was just over $85,000 with the mean salary being around $80,000. It was also interesting to see that roughly 75% of the graduating class found employment in the Greater Toronto Area. With Toronto being the centre of the financial industry in Canada, it's not surprising to see a number of students finding employment in the finance sector and getting paid very well.

In my opinion, this just underscores the importance of checking out the MBA schools in Canada from more than just a name or ending salary perspective. While Rotman is a very well known school in Canada and well ranked internationally, it may not be the ideal school if your dream job is to work in the marketing industry in Vancouver. Having a good idea what you want to do when you finish your MBA and making sure that the school you apply to will help you get there is probably the best advice out there.

2 comments:

Dekker Fraser said...

"While Rotman is a very well known school in Canada and well ranked internationally, it may not be the ideal school if your dream job is to work in the marketing industry in Vancouver." In that specific situation, what would you recommend?

one-year MBA said...

Do one-year MBA fees are also approximately same or less? I am expecting them to cost at around half than what these full time program do. Should we go for this program?