Can I get a yeehaw! New data shows that women from the Texas McCombs School Of Business MBA Class of 2012 have closed the gender pay gap, earning larger salaries on average than the men from their class. These women are certainly doing their part to close the wage gap.
The average post-graduate base pay for class of 2012 women is $106,073, compared to $104,631 for men from the same class. “This is new. We have seen women’s salaries coming out of B-school get closer and closer to men’s since 2010,” said Stacy Rudnick, Director of Career Management at McCombs. “but last year there was still a $2,500 wage gap in base salary for women. It is wonderful to see that gap closed.”
This definitely goes on the pro list for reasons for going to business school. On this site we often debate the payoff both career wise and financially of going to business school. In this economy, paying upwards of $80,000 to quit your job for two years often loses.
But this is wonderful to see considering a new study of government data from 2008-2009 by the American Association of University Women found that a woman one year out of college earns 82 cents for every dollar made by a man one year out of college. Comparing recent college graduates of both sexes with the same degrees, GPAs, type of universities, occupations and hours worked, female business majors were found make an average of $38,034 one year after graduating in comparison to $45,143 for male business majors.
Christianne Corbett, a senior researcher with the American Association of University Women, told Today.com. “Women are making progress, for sure, in education and in the workplace. But the pay gap is real. It’s still there. That’s what’s so confounding about it….There’s good reason to believe that part of that unexplained gap is due to gender discrimination, and most of it is probably unconscious.”
Rudnick argues that women who attend business schools are put at an advantage in terms of their career because they automatically get a great support network and they are in an environment where they can experiment and take risks more. “Women can check out which careers might be the best fit while stretching outside their comfort zones academically and personally through case challenges, take leadership positions within the school, take rigorous courses, or try work in a new industry,” she said.