Earning Potential for MBA Graduates
Projections published by the National Association of Colleges and Employers recently predicted that the average starting salary for MBA graduates in the class of 2019 will be more than $25,000 higher than the average starting salary projection for those professionals with only a bachelor’s degree in business.
The monetary difference in earning potential is often due to the simple fact that having an MBA is a gateway to earning a leadership position in a given industry - but why is an MBA so effective in increasing your earning potential? Here are a few tangible benefits of earning an MBA that often leads to earning more money.
Simply having a graduate degree on your resume can often elevate your qualifications to the top of the pile. If you are obtaining an MBA in order to make a career change, demonstrating your level of commitment and knowledge through earning a master’s degree is a quick testament to work ethic and business experience. When the first impression of your qualifications is being evaluated on paper, it’s always an advantage to have an advanced degree.
MBA graduates often enjoy higher earning potential because of the contacts they make while in graduate school. As you search for an MBA program, look for those that list faculty with real-world business experience. Real-world experience often equates to real-world contacts, meaning, your business professors will be an amazing resource to connect you the industries and jobs that you are interested in. It’s no secret that the chances of a cold resume getting a response is much lower than a resume and a personal connection.
Additionally, enrolling in an MBA program also connects you with like-minded peers. Creating relationships with your classmates will likely open doors for additional professional contacts and resources in the future.
Building on Foundations
In addition to boosting your resume and expanding your contact list, an MBA most importantly builds on your business foundations and prepares you to lead in your chosen industry.
Graduate business program content will likely touch on familiar topics that you covered through your undergraduate program, but an MBA takes these topics a step further - covering business foundations in more detail, adding industry-specific concentrations, and framing the subject matter from the perspective of a manager or industry leader.
Statistics consistently demonstrate that earning an MBA increases earning potential - and along the way, opens the door to invaluable resources like industry-specific contacts and academic experiences.
Whether you’re looking to make a career change or hoping to obtain upward mobility in your current industry, earning an MBA is a proven way to get the competitive edge. If you’re interested in taking the next step, speak with one of our enrollment experts today.