The results are in—the Democrats have flipped the House of Representatives for the first time in eight years, the Republicans consolidated their majority in the Senate, and that’s not the only news coming out of the US!
Reports show big successes in terms of graduate career prospects at top-ranked business schools, and Wharton is taking steps to further support its student entrepreneurs.
Here’s everything you need to keep an eye on this November.
Starting salaries at Harvard Business School top $160K
The total cost of top US MBA programs can be eye-watering to say the least, but for those who make it in—and out the other side—the rewards can outweigh even this hefty cost.
With typical salary increases of around 100% for graduates from top-ranked American business schools, return on investment is a near-guarantee, and now Harvard Business School are reporting total first-year compensation of over $160,000 among their MBA graduates.
This is partly due to a hike in the median base salaries of HBS grads this year—up to $140,000 from $135,000 last year—as well as the majority of the graduating class receiving an average of $25,000 in sign-on bonuses.
The hefty cost of a top-tier MBA might give you a nosebleed—but compensation like this is nothing to sneeze at!
We answered the question—Is an MBA worth it?
If you’ve been grappling with questions like these, wondering whether the rewards of an MBA can ever outweigh the costs, then we have just the podcast for you!
This month, BusinessBecause released our very own podcast, hosted by our editor Marco de Novellis and featuring the executive director of MBA, Master’s in Finance, and early-career programs at London Business School, Gareth Howells.
Make sure to subscribe, rate, and review—the first 50 people to do so will be in with a chance of winning $100 in Amazon vouchers!
You’ll also be first in line to listen to our second episode, out on November 15th, featuring the CEO of QS Top MBA, Nunzio Quacquarelli. We’ll be asking Nunzio how you can choose the right MBA for you—don’t miss out!
Oxford Saïd and NYU Stern report increases in graduate employment
It’s not just Harvard Business School that’s had good news from its grads this month. At the University of Oxford’s Saïd School of Business, MBA employment has risen to 91%, with the average salary reportedly climbing to £71,550 (about $94,156).
Stuart Jagot, director of career development at the school, believes that this is partly due to an increase in paid hires in the tech sector as a result of Oxford’s close attention to tech teaching.
At the Stern School of Business at New York University there has been a similar rise. Their 2018 report showed the best graduate employment rate in five years, with large salaries and bonus increases to boot.
This year, 93.7% of Stern MBA grads had confirmed full-time employment three months after graduating, up 2.7% from the previous year—the highest figure the school has seen since 2013.
Average base salary at Stern also increased by 6.5% compared to last year, while the average signing bonus rocketed 7.5% to $35,637.
Read our hit article from last month: 10 Of The World's Best Business Schools For Foodies
Wharton promises a brand-new building for startups
One factor behind large starting salaries so soon after graduation at big schools is the fact that students are frequently going into corporate jobs where they can earn more—and more quickly—than, say, entrepreneurial graduates.
However, this is not to say that entrepreneurs are being neglected at high-ranking schools in the US: the Wharton School at the University of Pennsylvania recently announced their intention to build a dedicated space for startups on campus.
The project will be funded by a quarter of a million-dollar gift from AKO Capital founder, Nicolai Tangen, and his wife Katja.
The $25 million gift is the latest development in Wharton’s efforts to raise $1 billion to invest in technology teaching, as 'Tangen Hall' looks set to be an on-campus hub of startup activity.
That’s it for November! Make sure to look out for next month’s applicant bulletin, or catch up on last month’s here.