Having an MBA opens doors, but the real key to success with the degree is finding a job that not only advances your career, but quickly pays back the investment you made to on your degree.
At Broad, the combination of outstanding starting salaries across a diverse set of careers, combined with a reasonable cost to earn the degree, puts its graduates well ahead of other MBAs.
Numbers and rankings prove that Broad’s MBA degree is the smart financial choice. Upon graduating, Broad professionals earn an average base salary of $101,430 with an average signing bonus of $18,853. As ranked by Forbes, Broad has the second-shortest degree payback times among all programs, as well as the quickest payback in the Big Ten.
Independent rankings show that Broad alumni needed just 3.6 years to recoup the costs of their MBA degrees in additional compensation, Forbes calculated, despite the fact surveyed students graduated in the heart of the economic downturn.
Forbes biennial MBA rankings are based solely on return on investment (ROI), calculated by measuring compensation five years after graduation and subtracting tuition and salary forgone during school. Broad’s program ranked No. 8 among public universities and No. 22 overall. Since 2007, Forbes has consistently ranked Broad among the top 10 public institutions and the top 25 programs overall.
The magazine surveyed the Class of 2010 and requested pre-MBA salaries and compensation for three of the first five years after receiving degrees. Forbes then compared their post-MBA compensation with their opportunity cost: both tuition and the estimated salary they would have made had they stayed in their old jobs. Salary figures were adjusted to account for cost-of-living expenses, and the earnings gains were discounted using a rate tied to the discount rate large companies’ pension funds use.