The world of business, which is dominated by men, has always been reflected in the world of business education. Despite the fact that there has been talk for years about improving gender equality in this sector, There are still disparities in the number of men and women being accepted into an MBA degree (Master of Business Administration), and advance their career after leaving their master’s degree.
We can now track how much progress has been made, using data compiled by the Financial Times’ MBA global rankings. Each year, our data comes from people who have completed their programs to evaluate different aspects of the course they have completed, as well Improve their salary and career path once they have completed their MBA. Business schools also provide college-related, enrollment, and program information.
Since 2007, Percentage of women on advisory boards for MBA courses Increased from 17 to 31 percent. The proportion of women in the faculty and students has also increased significantly.
In recent years, there has been an effort to make business schools more responsible for teaching – focusing on purpose rather than maximizing profits – and integrating Sustainable Development Goals (SDGs) In the culture of business education. One of the sustainable development goals is to achieve gender equality.
it is expected that On average, a woman earns 77 cents for every dollar a man earns. We wanted to know if the salary gap was still large for MBA graduates, given that they are professionals with greater access to business networks and job opportunities.
Despite this, the percentage gap in pay for MBA graduates is 15 percentage points less than the estimated global average of 23 percent. The big difference is in the actual salary figures.
The median base salary for MBA graduates in schools ranking three years after graduation in 2007 was $109,209 for men and $92,000 for women. The wage difference was 17,209 dollars, equivalent to Women earn 16 percent less than men.
In 2022, the difference in salary was reduced to 10,578 dollars, with men earning 137,000 dollars and women 126 thousand 422 dollars, so
Women currently earn 8 percent less than their male counterparts: The wage gap has narrowed since 2007.
According to the graduates shown in the 2022 data, the pay gap between men and women before they earned their MBA was 10 percent, two percentage points higher than the difference three years after they graduated from business school. The pay gap for pre-MBA graduates in 2006 was 11 percent, but increased to 16 percent. Three years after graduates complete their MBA.
The reduction in the salary gap after completion of the MBA program in recent years can be attributed to the improvement in the increase in the base salary earned by graduates, measured from the moment before the program to three years after they received the degree. The rate of increase in the salaries of female graduates has been greater than the percentage increase in the salaries of female graduates in four of the past seven years (2016, 2017, 2020 and 2021).
Every year since 2006, male MBA graduates have, on average, been rising to higher positions much faster than their peers.
The degree of hierarchy is calculated by combining the size of the company in which the graduate works with his positions in that company. a) yes, The CEO of a company with more than 50,000 employees gets the highest rating, while the unemployed graduate gets the lowest rating. The change in hierarchy score is calculated by subtracting a person’s pre-MBA hierarchy score from their post-business school score.
The share of graduates in the most popular MBA employment sectors skewed significantly toward men in 2006 and this has not changed. In 2022 we found graduates working there A wide range of sectorsAnd the But men are still more likely to work in areas such as finance, consulting or technology.
People’s motivation to start an MBA program has not changed since 2006: many want increased income and managerial development. The The percentage of graduates who achieve these goals after completing the MBA is also very high.. The difference between the sexes is minimal in this regard.
even though The number of women in senior positions is increasingThere is still much to do. Gender balance benefits everyone and business schools must play their part.
Best MBA 2022
high salaries US MBA graduates helped top US business schools in the 2022 rankings From the Financial Times, a year later has generated strong demand for the stock amid the disruption from the pandemic.
Wharton and Columbia ranked first and second, respectively, ahead of Harvard, Kellogg, Stanford, Chicago (Booth), Yale, MIT, New York University (Stern), and Berkeley (Haas)which is among the 16 first-tier business schools of the 100 ranked institutions.
In contrast, INSEAD was ranked third in France and Singapore. Other top-tier universities include London Business School, IESE in Barcelona, HEC Paris, SDA Bocconi in Milan, and China-Europe International Business School (CEIBS) in Shanghai. Referring to the geographical expansion of business education, there are six ranks in ChinaThree in Hong Kong, four in India, and one each in Mexico (IPADE) and South Korea.
Three years after graduation, Alumni of the Wharton School at the University of Pennsylvania in the United States Recorded highest gross average annual income in 2021with $238,000, after eliminating wages for those entering lower-wage areas of work, such as the public sector.
The average gross salary for graduates of the 100 ranked schools this year was $161,000., once adjusted for worldwide purchasing power parity. The largest salary increase students reported three years after completion compared to earnings before starting the MBA were at the Business School in India, Fudan University of China, and IPADE Business School in Mexico.
While many business schools have been hit by a decline in non-diploma executive education during the pandemic, MBA remained. “We have exceeded our expectations for admission to our programmes,” says François Ortalo-Magni, Dean of London Business School.
Andrew Crisp, president of educational consultancy Carrington Crisp, said: Business schools must continue to evolve as new digital forms of business training expand. “It is absolutely vital that the MBA adapts to where the world is. If he does not, he will be in a very difficult situation.”