Posted On: 3rd June 2024
M7 MBA - not M7 Anymore
Although the M7 MBA is an attempt to create a league of its own, much like an Ivy League School, the salary difference is noticeable in 2023, where NYU Stern, Cornell, Ross, Duke Fuqua, Yale, Darden and Tuck MBA (non-M7) offers an equal total median salary for an MBA as offered by Kellogg, Wharton, Harvard ($205,000), Columbia ($205,000).
Wharton, Harvard, and Columbia experienced no hike in total base salary for 2023, maintaining $205,000 for both years.
Chicago Booth (3.9% hike per year), Stanford (3.6% hike per year), MIT Sloan (2.5% hike per year), and Kellogg (5.12% hike per year) all attracted offers with a 2% to 6% increase in total median salary.
AI Bubble
I have seen this bandwagon before with cryptocurrency.
Editing essays where tokens will revolutionize funding for poor people or circumvent corrupt government have all been written under the branding of earnest applicants with a vision to change the world.
I even wrote a few samples for F1GMAT’s Essay Guides (in case you are still in crypto) and helped clients connect unique solution angles, but nothing substantial materialized except for a few asset bubbles and new and innovative ways to launder money. But this AI hype needs serious introspection.
Wharton seems not to have learned from the crypto craze. The school has announced AIAI – I kid you not.
VC funds are down 83% from the highs of 2021 when all we talked about was how vaccines will save humanity, and we will be wearing Goggles to talk to the next guy on the table. And now, the industry is chasing AI with the remaining funds.
But as a loyal follower of the Business school market, we will cover the hype with a new AI tracker page this week.
I hope I am proven wrong as an old millennial. This is not my opinion. It is what the GMAC Survey found . No one cares more about AI than Millennial men and Technologists.
Gen Z cares deeply about DEI and Sustainability
If you are pivoting to a new industry or function, start tracking how these two initiatives will change your consulting solution, fund allocation, branding, and skills for the next 20 years.
Women Applicants
If you are a woman applicant – I have highlighted a few challenges you are likely to face even with an MBA. MBA is not a be-it-all solution, but I hope some admissions persons read this analysis about Women MBA and don’t spend all their resources on AI.
The #1 roadblock that women applicants quoted for not pursuing MBA from M7 schools is from a lack of funding support. I have a few client experiences of getting admit and not pursuing an MBA from schools for which many of you would have gladly got into debt. This was a big motivation for us to update F1GMAT’s Funding pages. I hope it helps a lot of you apply on time and get financial support for your MBA dreams.
Meet Schools – Best Way to learn about your Fit
Well – the top schools seem to have learned some lessons from the plummeting application volume and organized TopMBAs events – not the QS one but a coordinated event among top schools.
I highly recommend that you meet school representatives, current students, and alumni in person. There is a huge, huge difference between what you read, what you experience virtually, and what you experience in person. If you can’t tolerate your peers, it is unlikely you will have a great 2 years.
A few events where you can meet M7 schools.
1) 4th June 24 – London
2) 5th June 24 - Atlanta
3) 6th June 24 – Amsterdam
4) 8th June 24 – Munich
M7 Secret - Pivot
And finally, like the annoying advice of an old millennial that I keep repeating every year, pivot early to GRE, if GMAT is not your thing. I have explained my reasons in this episode of F1GMAT Premium’s Winning MBA Admissions Tips Podcast.
