Parcipants were asked to provide their current base

salary as well as their base salary in their rst job

immediately aer graduaon. For all respondents, the
median starng base salary was $80,000 and the
median current base salary was $105,009, a 31%
percent increase over average 5.8 years. The median
starng salary and median current salary both
increased compared to 2009, however, the growth
slowed.
Spring 2011 Alumni Survey Results
Overall Report
WscoNsN MBA Cnnrrn MnNncrmrNt
Highlights
University of WisconsinMadison MBA Career Management
sta conducted an extensive email survey of alumni, who
graduated from 3 to 9 years ago, to determine how masters
degree students fare in terms of salary, bonuses, posions,
and degree sasfacon. Previous surveys were conducted in
2007 and 2009.
Overall, graduates of Wisconsin School of Business masters
programs have experienced consistent base salary growth,
reported strong career advancement, and have favorable
opinions of how their masters degree has helped them
achieve their career objecves.
Some highlighted ndings from the survey include:
On average, respondents saw 31% increase in salary
when comparing the rst posinon they took aher the
MBA and their current salary. Median starnng salary
was $80,000 and current starnng salary was
$105,000.
Similar to the previous surveys, median current base
salaries were consistently well above starnng salaries
immediately aher graduanon, and, in general,
showed a tendency to increase with increased years
of postmasters degree work experience.
Among alumni currently employed, seventysix
percent of them received a bonus, with 11% of
respondents gemng a bonus of or greater than
$100,000.
The esnmated CAGR ranged for the respondents as a
whole was 4.8%. This is less than the overall CAGR in
the previous surveys (6.2% in 2009* and 7.7% in
2007).
The survey included results from 231 alumni who received
MBA, MS or MA degrees from the Wisconsin School of
Business between 2001 and 2008. Most respondents (83%)
received an MBA.
Respondents included alumni of 10 of the current
specializaons or their precursors. The results of the survey
are presented in this overall report, as well as specializaon
specic reports. Specializaon specic reports were only
created for those specializaons where there was enough
responses, therefore, due to only having a small number of
respondents, RISK Management and Insurance and Strategic
Human Resources do not have an individual report.
Overall salary data
Wisconsin MBA Career Management

2450 Grainger Hall Phone: 6082624000
975 University Ave. Fax: 6082654192
Madison, WI 53706 Web: www.bus.wisc.edu

Blair Sanford, Director, 6082629817, bsanford@bus.wisc.edu
Ma Nelson, Associate Director, 6082655102, mnelson@bus.wisc.edu
Amanda Truppe, Assistant Director, 6082652353, atruppe@bus.wisc.edu
Survey Year Median Starting Median Current CAGR
2009 survey
(20002006) 71000 100000 6.2%
2011 survey
(20022008) 80000 105000 4.8%
Sample size of each specializaon is listed below.
Note that the sample combinaon of this year is
somewhat dierent from that of 2009. To some extent
this inuences the comparison on overall level.
Specialization Average Years PostMasters
Arts Administration 5.6
Applied Security Analysis Program 6.5
Brand and Product Management/Marketing 5.0
Corporate Finance 5.7
Entrepreneurship 5.8
Marketing Research 5.3
Operations and Technology
Management/Information System 5.5
Real Estate 6.1
Risk Management and Insurance 6.6
Strategic Human Resources 8.8
Supply Chain 5.8
Total 5.8
Specialization
Sample Size
(2011 Survey)
Sample Size
(2009 Survey)
Arts Administration 18 23
Applied Security Analysis Program 22 20
Brand and Product
Management/Marketing
26 28
Corporate Finance 25 24
Entrepreneurship 17 17
Marketing Research 25 14
Operations and Technology
Management/Information System
15 13
Real Estate 36 18
Risk Management and Insurance 5 5
Strategic Human Resources 5 2
Supply Chain 20 15
Others 18 26
Total 231 205
Spring 2011 Alumni Survey Results page 2 Overall Report
Base Salaries
In all 11 specializaons, the median current base
salary is higher than the median starng base
salary. In 7 of the 11 specializaons, the median
current base salary is $100,000 or higher.
The top three specializaons in terms of median
current base salary were Risk, Operaons &
Technology Management/Informaon Systems
(OTM/IS) & Applied Securies Analysis Program
(ASAP).
Note: 1) The esmated CAGR was calculated using the
median starng salaries, median current salaries and
average years of postdegree experience for each
specializaon. It is not the average of each individual
respondents esmated CAGR. 2) The sample sizes of SHR
and Risk are very small.
Base Salaries by Specializanons
When grouped by year, its found that the starng salaries
generally kept growing in these years.
Generally, alumni with more years of postMBA/MA/MS
experience have higher current base salaries than alumni
with less experience.
Also, the compound annual growth rate (CAGR) of base
salary trended upward as the number of years aer
graduaon increases. However, the growth rate decreased
as compared to those of previous years.
Base Salaries by Years of Experience
2011 Survey
Years Out Median Starting Median Current CAGR
3&4 $90,000 $102,000 3.6%
5&6&7 $80,000 $105,000 4.6%
8&9 $67,750 $117,000 6.6%
2009 Survey
Years Out Median Starting Median Current CAGR (est.)
3&4 $78,000 $95,000 5.80%
5&6&7 $67,750 $98,000 6.35%
8&9 $65,000 $115,500 7.00%
Specialization
Median
Starting
Median
Current
Avg. Years
PostMaster
CAGR
(est.)
Arts Admin $44,000 $65,000 5.6 7.28%
ASAP $80,000 $112,500 6.5 5.39%
Brand/Marketing $88,750 $111,000 5.0 4.61%
Corporate Finance $80,000 $104,500 5.7 4.78%
Entrepreneurship $75,500 $102,000 5.8 5.36%
Marketing Research $80,000 $109,000 5.3 6.03%
OTM/IS $77,500 $113,000 5.5 7.05%
Real Estate $85,000 $103,000 6.1 3.22%
Risk $75,000 $155,000 6.6 11.63%
Strategic HR $56,000 $82,500 8.8 4.50%
Supply Chain $83,000 $100,000 5.8 3.29%
Survey parcipants were asked about their
percepons of the Wisconsin MBA/MS/MA programs.
Specically, alumni were asked, On a scale of 110,
how much has your Masters in Business from
Wisconsin helped you achieve your current career
posion?
The average among survey respondents was relavely
high at 8.7. This is slightly higher than the previous
surveys average of 8.3. The most commonly selected
score was 10 (chosen by 45% of respondents). Similar
to the previous surveys, those that ranked the
program lower have lower current base salaries,
indicang salary is an important component of alumni
sasfacon.
Overall, 69% of respondents gave a score of 9 or 10,
and 91% gave a score of 7 or higher. A breakdown of
responses for all survey respondents is provided in the
chart below. Overall, for this metric, the results are
slightly beer than previous years.
Among individual specializaons, sasfacon was the
highest among Markeng Research and ASAP.
Sasfacon for Brand/Markeng, OTM, Risk and
Supply Chain all are above average. The lowest score
was a 6.6 from Strategic Human Resources, however,
this might be aected by the limited sample size (only
5 samples from Strategic Human Resources).
Ranking by Specializanon
The evaluaons were close across dierent graduang
classes.
Ranking by Years of Experience
Spring 2011 Alumni Survey Results page 3 Overall Report
Perceived Value of MBA
Average overall ranking: 8.7
Survey parcipants were asked if they had received
bonuses during the past 12 months, and if so, in what
amount. Overall, 76% of respondents indicated they
had received bonuses, equivalent with the previous
survey.
The most common bonus was less than $50,000 (74%,
nearly evenly split among less than 10,000, 10,000
24,999, 25,00049,999). The median of the bonus
received in past 12 months was $20,000, higher than
the median of $17,500 in 2009. Similar to the previous
survey, 15% of respondents claimed that they had
received a bonus of $100,000 or greater.
The following chart breaks down bonuses by size.
Among individual specializaons, Risk alumni were
most likely to have received a bonus in the past 12
months, with all respondents indicang they received
one. Over 90% alumni of Supply Chain and OTM/IS
received bonus. Comparison of specializaons is
provided in the chart below. Arts Admin had the
lowest number of respondents receiving bonuses at
39%.
Bonuses by Specializanon
Spring 2011 Alumni Survey Results page 4 Overall Report
Bonuses and Stock Opnons
Survey parcipants were also asked if they had received
stock opons from their current job. Overall, 24% of
them claimed that they received stock opons. Alumni
of Entrepreneurship, OTM, Supply Chain, and
CFIB/Finance seemed more likely to received stock op
ons, about 3040% alumni from these specializaons
received stock opons.
Generally, alumni with more years of postMBA/
MA/MS experience have higher likelihood to receive
stock opons than alumni with less experience.
The median of rough values of the stock opons was
$15,000.
Median of Rough Value of Stock Opnons: $15,000
Average: 24%
Years Out Percent of Alumni Receiving Stock Options
3&4 22%
5&6&7 24%
8&9 30%
Average: 76%
Survey respondents were asked if they had obtained
any addional degrees or cercaons since
compleng their masters degree at the Wisconsin
School of Business.
Among surveyed alumni of all 11 specializaons, around
23% received addional cercaons or degrees.
The majority (62%) of alumni who received addional
cercaons/degrees graduated from ASAP, Real
Estate and CFIB/Finance (see below pie chart).
Main addional cercaons are CFA (27%) and
JD/PhD/other masters (12%).

Alumni who listed addional degrees or cercaons
reported higher salaries and bonuses than those who
did not.
Comparisons of the groups on several key stascs are
presented in the table below.
Since alumni from ASAP, Corporate Finance and Real
Estate were the majority in reporng addional
cercaons/degrees, the comparison analysis
between those who have addional cercaons and
those who havent can also be done among alumni of
these three specializaons
Among the 62% of alumni, who received addional
cercaons and were in ASAP/CF/RE, 43%
achieved the CFA cercaons, 14% achieved
addional degrees, and the remaining 43%
achieved other cercaons.
Addional cercaon/degree appears helpful on
gaining a higher base salary and bonus.
Addinonal Educanon
Item
With Addional
Degree/Cert.
No Addional
Degree/Cert.
Sample size 49 183
Years post graduaon 6.6 5.7
Average base salary $124,943 $108,547
Median base salary $110,000 $105,000
Base salary >$150,000 22% 12%
Received bonus 76% 75%
Average of bonus $156,989 $47,819
Median of bonus $30,000 $20,000
Bonus >$30,000 35% 25%
Spring 2011 Alumni Survey Results page 5 Overall Report
Addinonal Cerncanon/Degree/Region
Certification % among ASAP/CF/RE Alumni
CFA 43%
JD/PhD/Other masters 14%
Others 43%
Certification % among all participants
CFA 27%
JD/PhD/Other masters 12%
Series 7 & 63 &69 6%
Certified Management Accountant 6%
Others 49%
Item
Alumni of
ASAP/CF/RE and
With Addional
Degree/Cert.
Alumni of
ASAP/CF/RE
and No
Addional
Degree/Cert.
Sample size 29 58
Years post graduaon 6.3 5.9
Average base salary $128,313 $114,380
Median base salary $117,000 $103,000
Base salary >$150,000 21% 16%
Received bonus 62% 74%
Average of bonus $284,553 $88,629
Median of bonus $50,000 $40,000
Bonus >$30,000 31% 41%
Geographic Region
Midwest and Northeast are the main regions these
alumni currently work. 9% of alumni work on the West
Coast.
Survey parcipants were given the opportunity to
provide comments about their experiences with the
Wisconsin School of Business masters degree program.
Sixtythree respondents (27%) le comments related to
the program, with the vast majority posive in nature,
though some alumni oered suggesons for
improvement.
It is impraccal to list all of the comments provided in
this report, however some are listed here.
It was a great experience, it opened up a lot of
doors for me. I feel very proud as I watch UW
connue to rise in the MBA rankingsthis rise started
when I was in the program. (Supply Chain)
Excellent educaon and excellent value. The
service and dedicaon of the school and centers was
incredible and I highly recommend the MBA at UW
Madison to anyone who is interested in pursuing a
MBA because of the access to professors and
immediate handson nature of the program. (Brand
and Product Management)
I really enjoyed my me in Madison and in the MBA
program. I think I received a great educaon and
would recommend it. (Strategic Human Resources)
The UW MBA is highly valued among employers I
have spoken with, and has denitely helped open
doors for me. I do wish there were beer alumni
relaons, but that's probably as much due to what I
do (or don't do) than anything. Geng an MBA
from UW was a fantasc career decision.
(Entrepreneurship)
The program is well established and I was
surrounded by plenty of resources. It has changed
my life and helped me achieved my current career
goal/target. (Real Estate)
I'm grateful and honored to receive so much
support to shape myself as a leader in this business
world. (Markeng Research)
Great mix of specializaons, faculty and access to
Advisory Board. (OTM)
Well worth the me and money. (Risk)
I beneed immensely from a great summer
internship and alumni connecons, they helped me
get into the music industry and the degree has
helped me advance from there. (Arts)
Earned enre investment back in than 3.5 years,
including lost income as a result of leaving job in
2005. (ASAP)
Posinve Experience
Advice for improvement primarily focus on More
presence and More connecnon with alumni.
More visibility/ presence
UW needs a larger presence in the northeast,
parcularly in New York. We are under
represented out here, parcularly in Real Estate.
More visibility and compeon would have been
helpful. (OTM)
Alumni Relanon
Wish Alumni were more connected (OTM).
I do wish there were beer alumni relaons, but
that's probably as much due to what I do (or don't
do) than anything. (Entrepreneurship)
Opportunines for Improvement
Spring 2011 Alumni Survey Results page 6 Overall Report
Alumni Comments / Advice
Advice for Students in Job Market
58% of the surveyed alumni shared their advice for
students in job market. Among these suggesons,
Network, Find what you want to do and Be open
to opportunies were menoned most.
Network (33%)
Network as best as you can. It may not see the
results immediately, but you will see the results
eventually.
Network as much as possible. Dont be shy.
Opportunies can come from anywhere and
everywhere.
Use the me at UW to form relaonships.
Network, network, network.
Networking is your best friend. Explore
opportunies to increase your network and always
keep yourself current on business trends.
Find what you want to do (11%)
Stop chasing the money, chase what you love.
Then the money chases you.
Figure out exactly what you want to do and go for
it. Be specic: job funcon, industry, company size,
culture, etc.
Take your me and really research where you
want to go.
Be open to opportunines (5%)
Seek work that you enjoy and take opportunies
that may not pay as much inially. The work you
do will prove your abilies and establish your worth
in me.
Don't be overly concerned with your starng tle or
salary, the most important factor is geng your
foot in the door and then proving your value to the
organizaon.
Comments
Survey parcipants were asked to idenfy their current
employers and tles of current posions.
65% of alumni have managerial posions.
38% of parcipants are posioned as managers
(assistant manager, manager or senior manager).
14% are tled as director (associate director or
director).
13% and 2% are vice president and president
respecvely.










Title trends to get higher as alumni gain more and more
experience.
Spring 2011 Alumni Survey Results page 7 Overall Report
Job Titles
Current Titles
Employers and Job Titles
Financial Industry
Title
Vice President
Vice President
Equity Research Analyst
Vice President
Assistant Relaonship
Manager
Assistant Vice President
Markeng Director
Employer
Credit Suisse
Cigroup
Victory Capital
GE Capital
US Bank
Bank of America
JP Morgan Chase
Consumer Packaged Goods
Titles:
Assistant franchise manager
Brand Manager
Markeng Research Manager
Customer Service Operaons
Leader
Sr. Market Research Manager
Naonal Account & Planning
Manager
Employers:
Johnson & Johnson
P&G
Kra Foods
Kimberly Clark
General Mills
SC Johnson
Clorox
Technology Industry
Titles:
Senior HR Professional
Manager
Strategic Sourcing Manager
Senior Soware Engineer
Senior Ulies Manager
Employers:
IBM
Cisco
Thermo Fisher Scienc
Google
Intel Corporaon
Manufacturing Industry
Consulnng Industry
Titles:
Manager
Associate Brand Manager
Senior Brand Manager
Special Event Coordinator
Employers:
Boston Scienc
Abbo
Newell Rubbermaid
HarleyDavidson Motor Com
pany
NonProt Companies
Employers:
The John F. Kennedy Cen
ter for the Performing Arts
Wisconsin Union
Titles:
Senior Budget Analyst
Assistant Theater Director
Titles:
Senior Consultant
Customer Insights Specialist
Principal
Employers:
Deloie
McKinsey & Company
Boston Consulng Group
The employers and tles can not be
exhausvely listed here. A few of them are shown
below for reference.
Survey parcipants were asked whether they would like to
use the free job board sponsored by Wisconsin MBA Career
Management Center to post opportunies for Wisconsin
Master/MBA candidates.

The majority (75%) of alumni said they would like to post
job opportunies. Alumni of Risk, Markeng Research, Real
Estate and OTM/IS are more willing to use Free Job Board
to post job opportunies.
Use Free Job Board to Recruit
Spring 2011 Alumni Survey Results page 8 Overall Report
Free Job Board
36%
39%
16%
7%
3%
Likelihood to Use Online Job Board to
Post Job Opportunities
Very likely
Likely
Not sure
Unlikely
Very unlikely
Survey parcipants were asked whether they would like to
use the free job board sponsored by Wisconsin MBA Career
Management Center to seek new career opportunies.

72% of surveyed alumni said they would like to use it. Alumni
of Risk, Brand/Markeng and Real Estate are especially
interested.

Use Free Job Board to Seek Job Opportunines
40%
32%
17%
9%
3%
Likelihood to Use Online Job Board to
Seek New Opportunities
Very likely
Likely
Not sure
Unlikely
Very unlikely
64%
56%
88%
65%
53%
72%
60%
84%
100%
60%
75%
0%
20%
40%
60%
80%
100%
Likelihood of Using Free Job Board to Seek Job (Very likely+Likely)
68%
61%
69% 69% 71%
84%
80%
83%
100%
60%
75%
0%
20%
40%
60%
80%
100%
Likehood of Using Free Job Board to Recruit (Very likely + Likely)
Wisconsin MBA Career Management acquired names and contact informaon for alumni who graduated with MS,
MA, and MBA degrees from the Wisconsin School of Business from 2000 through 2006. The informaon was
provided by the Wisconsin School of Business Alumni Relaons Oce.
While the Wisconsin MBA currently has 10 specializaons it used to have more than 12 majors areas. Due to this,
majors that are now part of centers were analyzed together for the overall report, and analyzed separately in the
specializaonspecic reports. For example, while a Markeng major existed in the past, it is now considered part of
the Brand specializaon.
In total, 1,166 names were acquired, including 991 with email addresses. The survey was administered via email
only. An email containing a link to the survey was sent to 991 alumni inially on February 23, 2011. A followup
email with a link to the same survey was sent on March 7, 2009. The survey was closed on March 29, 2011. Of the
991 alumni included in the inial email survey request:
232 (23%) completed the survey;
53 (5%) started but did not complete the survey

The completed rate (23%) in 2011 is lower compared to the rst and second surveys, which respecvely generated a
45% and a 26% complete response rates.
*Note: complete response rate denotes the proporon of alumni who completed the survey among those who received invitaon
leers.
The survey was 26 quesons long. Due to the sensive nature of quesons regarding salary, responses were not
required for any of the quesons. A full text of the quesons is available to Wisconsin School of Business faculty,
sta, and students upon request.
Survey Background
The primary objecve for the Alumni Survey is to gather salary data on recent masters degree alumni from the
Wisconsin School of Business. MBA Career Management intends to conduct this survey every two years. This year
was the third survey. The rst survey was conducted in January 2007 and the second me was in January 2009.
The way salary informaon was collected in 2007 was dierent than in 2009 and 2011. In 2007 survey parcipants
were asked to select from ranges provided for quesons related to salaries and bonuses, e.g. less than $50,000,
$50,00059,999. From these ranges a midpoint was calculated and that was the gure used to calculate the median
salaries for data analysis purposes. Since ranges were used and not exact gures interpreng the data with a high
level of accuracy was dicult especially for extremely high values (above $200,000) and low values (below $50,000).
Due to this, respondents in 2009 and 2011, were asked to provide the exact gure of their salary and any bonuses.
Due to the change in collecng data it is hard to make direct comparisons between the salary data collected in 2007
and that of 2009 and 2011. Thats why when comparing salaries with data from previous surveys, we highlighted 2011
vs. 2009.
Instead of using mean averages, which can get easily skewed by extremely high or low values, a median gure was
used. This is common pracce when the data being studied is related to income.
Survey Scope:
This survey included 7 classes (Class of 2002 class of 2008). This rst survey (2007) included 5 classes (Class of 2000
Class of 2004) and the second survey (2009) comprised data of 7 classes (Class of 2000 Class of 2006).
Anonymity of Respondents
Survey parcipants were not asked for their names and were told their specic responses would not be provided on
an individual basis. To honor this pledge, detailed informaon on individual respondents cannot be provided.
Grouped data has been provided in this and other similar reports.
Extra measures were taken for this survey to make sure anonymity was protected. For example, instead of lisng
both the tle and employer for certain respondents, representave tles and employers from dierent respondents
are provided.
Spring 2011 Alumni Survey Results page 9 Overall Report
Methodology
Sampling Methodology