Want to study an MBA to earn more money? Then it’s about time you start pursuing an MBA programme and give your career the required boost. There is no doubt that a business degree can improve your career prospects and your earning potential. As you will develop leadership and managerial skills, you will be able to earn higher salaries by working in leading global corporations. Let’s take a look….
MBA means higher pay
The Financial Times 2015 Global MBA rankings recently revealed that the salary increase for younger graduates in 3 years right after graduation is more profitable and better than their older peers in terms of percentage. The FT rankings were mainly based on the survey of the 2011 MBA class and evaluated the career advancement and salaries of these graduates.
Respondents, who were 24 years of age or below when they began their course, experienced a salary hike by almost $69,000 in 3 years after completing graduation. This was a nearly 145 per cent rise on their pre-MBA salary. Older graduates, who were 31 years of age or above, experienced a salary rise of $56,000, which was only a 70 per cent hike. However, the respondents falling in the middle age group, who were around 27-28 years of age while starting their full-time MBA programmes, had a salary hike of $67,000, which was almost double the amount they were earning before their MBA. In general, a similar pattern was observed across all sectors and industry in different nations, irrespective whether the MBA graduates were employed abroad or shifted to a new industry.
The data from the Financial Times survey also found that 75 per cent of the respondents were between 25 and 30 years old when they started their business education; while 21 per cent of them were aged 31 or above; and merely 4 per cent were 24 years old or younger. It was observed that overall almost 95 per cent of the MBA graduates claimed they had achieved their academic and professionals goals, whether it was earn more money or be a successful manager.
But is MBA a good idea?
So now you know that pursuing an MBA degree can certainly add value to your resume and enable you to earn higher salaries. But is a studying an MBA a financially feasible option? With rising tuition fees in most institutes, studying a traditional 2 year MBA will cost you about $97,000; while a 1 year degree will cost you around $80,000. The MBA scenario has now become so financially challenging that most students are now feeling compelled to take out a heavy student loan, which they end up paying till their retirement.
If you ask me, there is simply no point in investing such huge amounts in earning a traditional degree, when you can easily earn an accredited business degree in a more affordable and flexible way. How? The answer is simple…go for an online business diploma.
Go for online MBA
If you wish to acquire the necessary business, management and leadership skills, then an online postgraduate diploma in strategic management will be highly beneficial for you. Not only you will gain comprehensive knowledge on strategic and business management, but you will also be able to earn an recognised diploma in business.
As there is no need to physically attend scheduled lectures, you will be able to study anytime you want as per your convenience. Moreover, this will also allow you to work and gain relevant experience while you study. However, one of the main factors why more and more students worldwide are now opting for online business study is these courses are highly affordable. You can easily avoid student debt as online B-schools charge reasonable fees, unlike traditional schools.
Get your degree faster
However, if you still want to earn an MBA degree, then online learning can help you study business without investing excessive time and money. Pursuing a fast track MBA online programme will help you to advance to the final year of an MBA degree from an associated institute, which you can study either online or on campus. You will not only get a better understanding of about business management, but you will also be able to boost your career and advance to leadership roles in a short span of time.
So are you ready to advance your career and increase your salary? What do you think about online MBA? Share your opinions and views with us by commenting in the box below. We would love to hear from you.
Article source – on.ft.com/1Gin1WU