Including a Master in Business Administration (MBA) in the resume apparently boosts chances of getting more attractive business career opportunities. To give more light about the subject, comparing data according to various programs and employment statistics is crucial.
According to US News best grad schools ranking, in 131 MBA programs shows that two (2) types of job positions appears to be profitable and highly sought for. These fields are generally to be in consulting—which is the top of the list—and followed by general management roles.
The average annual salary of MBA grads in consulting is $101,108 while general management roles have an average of $92,802 according to US news data. Operations, marketing and finance career opportunities aren’t too far off to each other ranging to $91,119, $89,505 and $88,493 respectively. Jobs within the info systems and human resources are also attractive options which have an annual average of $83,200 and $81,381 salary as it was mentioned.
MBA grads who take consulting careers are inclined to provide business insights for companies. But when MBA grads are in management positions, they act as business leaders that drive and perform effective strategies for an organization that they belong to.
Relation of MBA to lucrative business career paths
One of the first steps about maximizing job benefits on having an MBA program is to have firm career resolutions and goals. MBA alumni mentioned that business schools could unlock two things: either for current career advancement or a chance for a profession change.
Also, many executives claim that including an MBA in their resume can make a favorable impression even without attending a top-rank b-school.
However, there are perks that can be obtained by putting more effort into having an MBA. From published research of QS Quacquarelli Symonds in 2018, data revealed that within a decade since getting an MBA degree had an astonishing return investment of $390,751 on average MBA grad.
Research also shows that a student from the Stanford University Graduate School of Business has an estimated average return of at least $1 million even after graduating ten (10) years from the prestigious educational institution.
Published in 2019, the National Association of Colleges and Employers (NACE) stated that the average annual salary gap between MBA grads to college grads is at least $25,000.
Mark W. Nelson, Cornell University’s dean of the Samuel Curtis Johnson Graduate School of Management expressed his thoughts in an email as candidates should consider “personal opportunities for growth” when they set their mind in getting an MBA:
Often candidates have a career progression in mind—ask whether people who followed that path have been helped by an MBA. Also, consider your personal opportunities for growth.
What do you want to work on? Consider how an MBA would help you develop those capabilities.
It is true that some b-schools offer more attractive employment upon graduation. But acquiring an MBA and gaining valuable leadership roles prove to be enough to give boosts in paving the way for better business career opportunities.