Significant Jumps in Salary - Optional Essay?

Expert replies

gatortomba: Junior | Next Rank: 30 Posts; Posts: 21; Joined: Fri Dec 14, 2012 4:43 am; GMAT Score:700

by gatortomba » Wed Jan 02, 2013 4:03 pm

Hello - I could use some advice. I've had significant jumps in my salary over the years.

Company 1:
2007 Starting Salary: 65,000
2008-2009 After Year 1: 75,000

Company 2:
My own business venture
2009 Starting Salary: 12,000
2010-2012 Ending Salary: 36,000 + 6,000 Bonus
Minimized Salary to avoid Income Tax
Sold Business in Aug 2012 - 6 digit selling price - Took advantage of low Capital Gains tax before next year.

Company 3:
2012 Starting Salary: 48,000 (first 5 months started as contract employee)
Current Salary: 60,000 (brought on FT)

Do you recommend reporting my up/down salary jumps?

Thanks!

Source: Beat The GMAT — The Application Process | Wed Jan 02, 2013 4:03 pm

Jim@StratusPrep: MBA Admissions Consultant; Posts: 2278; Joined: Fri Nov 11, 2011 7:51 amFollowed by: 266 members; Location: New York; Thanked: 660 times; GMAT Score:770

by Jim@StratusPrep » Sat Jan 05, 2013 9:48 am

Yes, the fact that you started your own company will show.

GMAT Answers provides a world class adaptive learning platform.
-- Push button course navigation to simplify planning
-- Daily assignments to fit your exam timeline
-- Organized review that is tailored based on your abiility
-- 1,000s of unique GMAT questions
-- 100s of handwritten 'digital flip books' for OG questions
-- 100% Free Trial and less than $20 per month after.
-- Free GMAT Quantitative Review

Featured schoolRound 2 closes Jan 7, 2027 55 days left

Chicago Booth

Since 1982, 10 Booth faculty members have received the Nobel Prize in Economic Sciences, more than any other business school.

#3
U.S. News rank: $175,000
Median base salary: 670
Average GMAT Focus: 635
Students in the class

Apply to Booth Visit chicagobooth.edu See the full profile

Photo: Warren LeMay, CC BY-SA 2.0

GMAT Course Reviews

563 reviews

1168 reviews

431 reviews

359 reviews

147 reviews

5/5

5 Star (563 Reviews)

"Target Test Prep is the closest to the official version of the GMAT exam, about 99% accuracy in terms of the quality and quantity of information. The course has excellently created singular sets of focused lessons and tests for every possible topic that one could come across in the official GMAT exam."

"The TTP course maximizes the efficiency of the time you spend studying. It will take time and effort but I could almost guarantee that if you complete the course exactly as it is laid out you will get an amazing score. They also have a very responsive team willing to help with any questions you might have."

"TTP has two things that I think no other test prep company offers: A teaching approach that reinforces understanding and an attitude that will give you the mental preparedness needed to succeed on the test. TTP gives you a deep understanding of the concept you need to know while teaching you how to think."

Write a Review