For the fifth year in a row, PayScale has named Babson College the top business school in the country for salary potential based on alumni earning.
In the 2019 College Salary Report, Babson also is ranked No. 4 in Massachusetts among all undergraduate programs, behind only Massachusetts Institute of Technology (MIT), Harvard, and Worcester Polytechnic Institute (WPI).
In the overall ranking, Babson is listed No. 13 for all alumni, including those who went on to receive advanced degrees, and No. 26 for those who conclude their studies with a bachelor’s degree.
“We are proud of our Babson education that fosters lifelong learning, development of an entrepreneurial mindset, and the growth of leadership skills that have lasting value for our graduates,” said Babson College Undergraduate School Dean Ian Lapp. “While we celebrate PayScale’s recognition of Babson as one of the best undergraduate schools for salary potential, we also revel in the fact that our alumni go on to create impact and innovation far greater than personal and financial gain.”
Year after year, there is an increase in Babson alumni’s early-career pay. According to PayScale, the median salary for Babson alumni with 0-5 years of experience is now between $71,400 and $72,000.
To put that into perspective, the second-best business school for salary potential reports a median early-career salary between $66,600 and $67,600. This number drops to a range of $60,000 to $61,000 for the third, fourth, and fifth spots.
Babson alumni also are well above the pack when it comes to mid-career pay. With 10 or more years of experience, Babson alumni, on average, earn between $133,800 and $149,400.
How Babson Students Get There
From day one, Babson students are immersed in a world-renowned, entrepreneurial program that focuses on action, experimentation, and creativity.
Consider the Foundations of Management and Entrepreneurship (FME), for example.
For more than 20 years, FME has trained students on the art of conceiving, launching, and managing a new venture. Throughout their first year, Babson students are exposed to entrepreneurship, marketing, business management, and organizational behavior. The course follows a “learn by doing” approach, where students get a hands-on experience developing new ventures that create economic and social value.
This experience also introduces them to Babson’s dedicated faculty who are not only hands-on in the classroom but also serve as valued mentors for years to come.
The Hoffman Family Undergraduate Center for Career Development (CCD) is another instrumental resource on campus, at the forefront of preparing Babson students for the post-college push.
“Babson has had major success in developing career-ready graduates,” says Donna Sosnowski, director of CCD. “Some of the biggest successes we’ve seen among our graduates have come from a pivot, a spark of inspiration, or a connection made by participating in one of our events or opportunities,” she adds.
According to the latest statistics from the Class of 2018, 99 percent of Babson’s recent undergraduate alumni are employed or continuing their education within six months of graduation.
And, 89 percent of them completed an internship while at Babson, even though it’s not an academic requirement.
“Pursuing a business degree is not only versatile and applicable to nearly every industry but, more importantly, it’s a wise investment that promises healthy returns after graduation, especially if you attend one of the best colleges for the business listed in PayScale’s College Salary Report,” says PayScale.