GMAC survey suggests wage gap is 'noticeably' smaller between men and women with an MBA
HR Editorial, January 16, 2012
The wage gap between men and women is noticeably smaller among alumni from MBA and other graduate management programmes than it is among the general population, according to a US survey by the Graduate Management Admission Council (GMAC).
The research found female graduates of full-time MBA programmes who responded to the survey, received starting salaries equivalent to 85% of the earnings their male counterparts drew, on average.
By contrast, women earn 77 cents for every dollar earned by men when the entire US workforce is taken into account, according to the US Census Bureau.
Alumni from graduate management programs have reported a "stellar" return on investment (ROI), with the GMAC survey finding graduates recouped one-third of the financial investment in their degree within the first year after graduation, and 100% years out.
Dave Wilson, president and CEO of the Graduate Management Admission Council, said: "Anyone considering a graduate management degree should do a thorough economic analysis, including an evaluation of the potential return on their investment. These results demonstrate that a graduate management degree is, in fact, a solid investment in your future, both in good and bad economic times."
The survey also revealed 86% of class of 2011 graduates were employed after graduation, which is about the same as the class of 2010 (88%).
Three out of four alumni of the class of 2011 with jobs report they could not have obtained that job without their graduate management degree.
The GMAC Alumni Perspectives Survey includes responses from 4,135 alumni who graduated from 2000 through 2011, including 963 members of the class of 2011.