An MBA can open up a world of opportunities to you—whether it's a fast track to management, career change, higher paying job, or starting a business, to name a few. Consider these facts:
- The vast majority of employers (77% or more) agree that those who hold graduate business degrees demonstrate higher ability in managing strategy and innovation, knowledge of general business functions, and in strategic and system skills than other employees at the same job level.
- The average expected salary of business graduates is almost 30% higher that that of other graduate school students and almost double the average starting salary of undergraduate school students.
- The average starting salary for MBAs worldwide is currently $99k (source: topmba.com). Top-ranked MBA program graduates have highest starting salaries, averaging $119k at the top 10 according to US News & World Report rankings.
The QS Top MBA.com International Recruitment Survey and Salary Recruitment Report 2007 shows an overall 24% increase in demand for MBAs in 2007, with the technology sector reporting a massive (29%) increase, financial service (24%), general industry (24%), and consulting (22%).
According to Nunzio Quacquarelli, at QS Top MBA, A growing number of companies all over the world now see a top MBA as an essential management entry-level qualification. Without an MBA, it is almost impossible to become an analyst at a leading investment bank, or a senior consultant at a top consulting firm. In recent years it has become more common for business development managers and technology managers also to take an MBA to help them make the next step in their career. Read more about recent MBA recruiting trends at Top MBA.
All monetary benefits aside, however, it is important that you establish why business school is the right choice for you, that you realize it's hard work, and that you are prepared to make a serious commitment of both time and money. Evaluate how the MBA will impact your career, both short- and long-term, when making your final decision on this important investment.
