APPLIED RESEARCH PROJECT Lauren Schrager

Real Estate

In Miami  Real estate in Miami – 4230 agents employed  Starting salary: $22, 840  Median salary: $34,170  Top earners: $77,000  My salary: $29,300 just out of college  Based on college degree, GPA, and less than 1 year of experience

In Winston-Salem  Real estate Winston – 150 agents employed  Starting: $23,940  Median: $41,260  Top earners: $77,850  My salary: $36,600  Based on college degree, GPA, and less than 1 year of experience

Miami  Annual Salary: $29,300  Monthly Apartment Rent – 1 bedroom: : $1,  Electric Bill: $  Internet: $44.28  Total Energy: $  Phone: $27.70  Gasoline: $3.38  Doctors Visit: $  Groceries: $  State Income: None  Mortgage rate: %.05  Car insurance: $157.81/month  Car Payment: $500/month  Monthly Net pay after tax: $1,  Annual health insurance: $1,073

Winston-Salem  Annual salary: 36,000  Monthly Apartment rent: $700  Electrical Bill: $  Internet: $33.30  Total Energy: $  Phone: $29.99  Gasoline: $3.19  Doctors Visit: $  Groceries: $335,21  State Income tax: 7%  Mortgage rate:.04%  Car Insurance: $146.36/month  Monthly Net pay after tax: $  Annual health insurance: $1,084

Winston-Salem is 17.2% Less expensive than Miami

Graduate School for an MBA?

Answer: No  NACE gave the same initial, median, and maximum salaries regardless of if only a Bachelor’s degree in Business and/or Economics was earned or if an MBA was earned.  Interesting note:  A related Masters degree: Marketing and Research  It was found that obtaining a masters in marketing and market research was not a good choice - individuals with 4 year degrees had an unemployment rate of 5.8% and graduate degree holders had an unemployment rate of 5.9%.  The unemployment rate went up slightly for graduate degree holders.

Answer: No  In both areas, Winston-Salem and Miami, attending Graduate school did not increase salaries at all.  Cost of Graduate school: between $30,000-$60,000 depending on where you choose to study  “Advancement in the field depends on how much you want it and how hard you are willing to work for it.” – Vivian Diamond, Informational Interview 1

Job Positions Available with an MBA  Accountant  Average annual salary: 53,300  Advertising Executive  Average annual salary between: $95,096-$129,630  Business manager  Average annual salary: $114,850  CEO  Average annual between: $69,114 - $304,568  Credit Analyst  Average annual between: $35,132 - $58118