<p>10character</p>
<p>Most are ~$60K</p>
<p>That’s not much compared to the high paying Engineering majors like EECS. So why is Ross more prestigious than Engineering?</p>
<p>Bonus potential. Also the average engineering salary is about the same or less. But small bonus. Business grads in NYC often get a bonus equal to salary year 1 and up after that. MUCH faster raises too. But they work hard too.</p>
<p>
Who says Ross is more prestigious than Engineering?</p>
<p>“Bonus potential. Also the average engineering salary is about the same or less. But small bonus. Business grads in NYC often get a bonus equal to salary year 1 and up after that. MUCH faster raises too. But they work hard too.”</p>
<p>Is that true of the average Ross grad, or of one guy a few years ago? A bonus equal to salary your first year out of college is really unbelievable.</p>
<p>It depends on whether you are asking about BBA gradutates or MBA graduates. The MBA commands a much higher salary than the BBA.</p>
<p>Most grads who land jobs in NYC I Banking and other elite firms. Even the average would be around half salary.</p>
<p>i’d say 60k salary, 25-40k bonus, 10k signing was more typical last year. Very, very few got bonus greater than or equal to salary</p>
<p>wall street bumped up base salaries this year though - i’m getting 70k base 10k signing next year.</p>
<p>I just noticed that UMich keeps track of those bonuses too…</p>
<p>The people in IBanking and Sales/Trading do have huge bonuses, but together that only accounts for 29.9% of Ross BBA grads. Anything else you’re probably better off in engineering.</p>
<p>unless, of course, you don’t want to be an engineer.</p>
<p>between ross and engin, don’t make your choice based on salary expectations. if you like engineering, do that. if you like finance, marketing, strategy, etc., do ross.</p>
<p>They only keep track of the guaranteed or minimum bonus. Most people end up getting more after a year in the job. If you get the mimimum you should look for a new job.</p>
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</p>
<p>What makes you think the average starting salary for EECS majors is much higher than 60k?</p>
<p>I thought CS was the highest paying (70+k) and EE a little less than that. I shouldn’t have said “that’s not much compared to…” I should have said “that’s still less than…”</p>
<p>I think CS and CE pay very highly because of where people with those degrees get jobs. It’s a lot more expensive to live in Silicon Valley than the Midwest. EE pays substantially less, more like 61-62K on average I think.</p>
<p>“They only keep track of the guaranteed or minimum bonus. Most people end up getting more after a year in the job. If you get the mimimum you should look for a new job.”</p>
<p>So you’re telling me that someone at the 3rd quartile of BBA grads (slightly higher than the median person in Finance) is likely to make more than the 100K/year they are supposedly guaranteed? Average IBanker more than 120K/year? I’m looking at these numbers and only 50% of people are reporting guaranteed bonuses. Do the rest get nothing? How does that happen when the average MBA IBanker only gets 125k/year, and a lower guaranteed bonus?</p>
<p>I’m not trying to refute your claims, but these numbers, as I’m interpreting them, are shocking and completely unbelievable. If an average person in Ross studying Finance is gonna graduate and make a guaranteed 100K a year, and likely a significant amount more than that, why would anyone study anything different? Hell, the starting pay for any of the Masters and PHDs in engineering is less than that 100K a year. Are Engineering majors also getting these huge bonuses and the university just doesn’t collect this data, or is a BBA from Ross really the holy grail of all undergraduate education, being very close to as good as an MBA?</p>
<p>Guaranteed Bonus probably means relocation bonus, which is an addition on top of signing bonus. Quarterly bonus is never guaranteed, even though they are somewhat guaranteed. </p>
<p>Also, I think I read somewhere that 30% of Ross students get a job in finance (dont quote me on that I just remember reading it somewhere). And you can bet the majority of those are not at bulge bracket or front office positions but rather Fortune 500 Corp Fin or something like American Express and Capital One, so the massive bonus figure only apply to a very small number of students. The average is not 60k. Average is 56k, Median is 59k.
[Employment</a> Profile - University of Michigan Business School](<a href=“Error 404! Page Not Found. - iMpact Web Portal”>Error 404! Page Not Found. - iMpact Web Portal)</p>
<p>Look median is 59k (any statistian would know you should use median not average so I dont know why people are talking about averages here)</p>
<p>66% reported signing bonus with a median of about 7k</p>
<p>38 % reported guaranteeed bonus with a median of about 5k</p>
<p>That means the total expected all in first year compensation (including Signing, guaranteed bonus) = 59k+ 7k*.66 + 5k * .38 = 65.52K</p>
<p>That’s nothing ridiculous.</p>
<p>When I say average, I mean median. Comes from elementary school when we were taught about the “3 kinds of average.” Any number quoted was a median.</p>
<p><a href=“http://www.bus.umich.edu/pdf/EmploymentProfile2008.pdf[/url]”>http://www.bus.umich.edu/pdf/EmploymentProfile2008.pdf</a> - Page 34</p>
<p>That’s ridiculous.</p>
<p>Do you also notice it’s published in 2008 which means it’s reporting hiring statistics of the school year of 2007-2008?</p>
<p>“23% of Ross Graduate secured jobs in investment banking”
Do you not see the intentional statistical misguidance in this statement?
On the chart up top, it says “% of reported” , investment banking 23.1%. That means, 23.1% of the Ross graduates “WHO REPORTED THEIR EMPLOYMENT” got an investment banking job. That’s called self-response bias. Now, think about this. Who’s more likely to report his employment? The guy with a good job or the guy with a bad job?</p>
<p>That is why learning about statistics make you not believe statistics. It’s so easy to mislead an average joe.</p>
<p>Not to mention people who got jobs in Ops and Tech and everything middle-office would most likely report their employment as “investment banking” too. </p>
<p>This is not to take anything away from Ross but rather point out the fact that statistics are usually rosier than the actual facts</p>
<p>Okay… Still ridiculous…</p>
<p>Even in 2009 the median w/ Bonus for IBanking and Sales/Trading was 82500/85000. If they’re supposedly supposed to get more than that, that still sounds ridiculous. </p>
<p>However, your explanation of that guaranteed bonus being a 1-time relocation bonus makes sense. Why in 2008 were they giving out 60K relocation bonuses though?</p>
<p>As for the who reported their jobs though, 84.7% reported, so the vast majority did report. At minimum, 19.6% did get IBanking jobs.</p>
<p>“However, your explanation of that guaranteed bonus being a 1-time relocation bonus makes sense”</p>
<p>actually now I dont think it makes sense but performance bonus is also never guaranteed. Ask those grads who reported 60k guaranteed bonus how much bonus they got in 2008 :-p I think it’s more like an expectation (because on the top it says 100% of the statistics may draw from industry data or something like that)</p>