Salary and job opportunities increase with an MBA
While the costs associated with obtaining an MBA may seem overwhelming, most people who seek and earn the degree see a strong return on their investment with a larger average salary, job growth and advancement within companies. MBA job opportunities are increasing along with economic recovery, and the average MBA salary is increasing, as well.
Hiring of MBAs on the rise
According to the Graduate Management Admission Council (GMAC), 72 percent of employers surveyed expect to hire MBA graduates in 2015. More so, 47 percent surveyed anticipate an increase in starting salaries in line with inflation, while 18 percent anticipate salary increases that exceed inflation. The remaining 35 percent believe starting salaries will remain flat.
MBAs can provide job protection and advancement opportunities
The GMAC survey also indicated that during the recession and economic recovery, advanced business and management degree holders had more opportunity for advancement and more job protection than those without advanced degrees. Management degrees can increase an employee's confidence and the potential for career progression during troubling economic times.
MBA increases salary by average of 170 percent, five years post-graduation
Average MBA salaries increased 50 percent after graduation, with a 41 percent increase from part-time programs. Five years post-graduation, MBAs received an average of an additional 80 percent raise from their post-graduation salary; part-time program participants saw a 56 percent increase. Factoring in these salary increases, a graduate at one of the top 50 MBA schools can recoup the degree expenses, on average, within four years.
MBAs can open doors to upper management
Those who graduate with an MBA are more likely to be able to progress into upper-level management. About 70 percent of MBA job opportunities are in senior-level management roles and above. MBAs also often build upon leadership, entrepreneurship and innovation skills, all of which are required for promotions to the top tiers of company leadership.
An online MBA can improve an individual's career with a double or higher five-year post-graduate salary, job protection and the ability to ascend the corporate ladder.
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