Pursuing a master’s degree is a major undertaking for anyone. Students must weigh the costs and benefits of earning a degree such as a Master of Business Administration to see how it will affect their earning potentials, career prospects and networking opportunities. Will their MBAs ultimately provide advantages that offset the time and money they invested in their education?
How and why an MBA pays dividends for today’s graduate students
For the vast majority of MBA students, the answer is “yes”:
- According to Poets&Quants, a Financial Times report found that MBA alumni typically see average salary bumps of $56,000 to $69,000 over their pre-MBA compensation levels. These changes were consistent across industries and countries.
- Students who begin their MBA programs before age 24 realize some of the biggest gains, making 145 percent more than they did before. However, all age groups typically obtain increases of at least 70 percent.
- Several Bloomberg surveys have shown that MBA students see an 80 percent salary increase after graduation. Six to eight years later, their median salary is approximately $145,000, more than double the median national income recorded by the U.S. Census Bureau in 2015.
Beyond much greater compensation, students with an MBA gain access to career tracks and professional networks that would otherwise be inaccessible to them. An MBA program offers much more extensive networking benefits than an undergraduate education, which in turn often translate into job offers.
In 2016, the Graduate Management Admissions Council found that 88 percent of corporate recruiters who worked with business schools planned to hire recent MBA graduates. The starting median base salary for these MBA holders was $105,000 in 2016, up from $100,000 in the 2015 GMAC survey.
Getting the most out of the MBA degree
“The starting median base salary for new MBA holders was $105,000 in 2016.”
Students can enhance the value of their MBA degrees by finding a program that provides maximum scheduling flexibility as well as the option for accelerated completion. This way, they can improve their chances of timely completion and begin looking for positions sooner.
Earning an online MBA with a concentration in Transportation Leadership (MBA-TLC) from Gwynedd Mercy University is the ideal track for students seeking a rigorous, rewarding MBA education that also fits into their schedules. The degree can be obtained by earning 30 credits, with the option to complete courses one at a time in seven-week blocks.
“What I like most about being a GMercyU graduate student is the flexibility the online MBA program gives me for completing my degree,” explained GMercyU MBA student Lauren Burrell.
An MBA-TLC from Gwynedd Mercy University ultimately develops the deep, executive-level knowledge necessary for landing advanced positions in the transportation sector. Students build their expertise by taking courses in everything from strategic management and managerial finance to ethical decision making and corporate social responsibility. Learn more about your options for earning an MBA-TLC at GMercyU today.