More employers expect to higher those with MBAs.
Between applying to grad school, acing exams and working classes and homework into an already hectic schedule, the idea of grad school can seem challenging. As a result, it’s important to weigh the pros and cons of such an important decision before moving forward. For prospective students who need a little more convincing that their hard work would be an investment, there are multiple statistics and facts that should be reviewed. Here are three reasons to pursue an advanced degree.
“MBAs earn close to double what others start out at.”
1. MBAs have higher starting salaries
It may not come as a surprise that those with advanced degrees earn more money than professionals with bachelor’s degrees, but the exact amount might be shocking. According to the Graduate Management Admission Council’s most recent survey, those with MBAs start out at a salary that’s close to double what their lesser degree-holding peers earn. Companies based in the U.S. are expected to offer a median salary of $100,000 to MBA grads and a salary of $55,000 to bachelor’s grads.
2. Most employers plan to hire candidates with MBAs
The GMAC survey found another positive statistic that could give prospective students the push they need to pursue an advanced degree: Most employers will hire professionals with MBAs. In fact, 92 percent of U.S.-based companies plan to hire people who hold the degree this year. The appeal of the MBA isn’t just limited to the U.S. — globally, 84 percent of employers said they were going to hire professionals with the degree. Last year, that number was at 80 and 74 percent, respectively.
3. Grad school is now more convenient than ever
With the prevalence of online advanced degree programs, it’s never been more convenient for students to earn their degree while holding other responsibilities. Students can volunteer, intern and even work a full-time job while balancing the demands of a grad school program. Poets & Quants for Executives, an online resource for prospective grad students, noted that employers positively view students who earned their degrees online.
In fact, the source noted that pursuing an online advanced degree often means the candidate is a valuable worker with years of experience and high performance. Oftentimes the candidate has financial backing from their company to pursue the degree in the first place.
By Monique Smith