Enroll in a top-ranked Online MBA program today. Become a Jayhawk.
GMAT Waiver Available
You’ve probably heard that earning a Master of Business Administration (MBA) can help you earn more money in the long run, transition careers, or help you advance in your current field. But is it possible to quantify the dollar value of this financial and time investment? Let’s look at some of the best MBA jobs, and how much an MBA graduate can expect to earn taking into account a variety of additional factors.
Average salary levels for MBA graduates will differ based on the industries in which graduates choose to work and the positions they assume. Location also plays a role in determining how much money an MBA graduate will make coming out of school.
The average salary for MBA degree graduates with prior years of experience in the workforce coming into mid-level positions is approximately $105,000 across all industries. Those MBA degree graduates who enter the Technology industry, however, can expect a average salary of $115,000. Those who enter the Energy/Utilities or Consulting industries can expect a average annual salary of $125,000.
According to salary bench-marking website Payscale, MBA graduates earn an average salary of $85,000. While this provides a good general idea of what you can expect to earn, we can get more specific. If you’re considering an MBA career, you’ll want to consider how the following factors may increase or decrease your salary.
Compensation varies across states, even across cities within the same state. If you’re thinking about relocating after graduation, consider how the average salary compares to the cost of living in that area.
Some specializations regularly earn more than others. If earning a high salary is important to you, consider the average salary earned by each specialization before making your decision. You’ll find a detailed breakdown later in this article.
Some MBA students start their program right after their bachelor’s degree, while others have been in the workplace for years. Unsurprisingly, entry-level MBA jobs pay less than jobs requiring several years of experience. According to Payscale, as of April 2019 these are the average salaries for MBA graduates based on experience level:
It’s important to note that, while a particular specialty may pay well, this doesn’t mean plenty of opportunities will be available in that specialty area for MBA graduates. if you’re looking to switch careers ASAP, it’s always wise to fix your sights on MBA degree jobs that experience stable and significant demand.
Let’s look at how your specialty can influence your salary. The following average salary data was obtained through the Bureau of Labor Statistics.
To provide a sense of MBA salary fluctuation by state, we’ve used the salary of a general/operations manager. This is one of the more common MBA jobs, making it a useful benchmark for comparative difference across states. These salary averages were acquired from the Bureau of Labor Statistics.
Although an MBA can earn you a higher salary, choosing a specialty that’s in high demand can lead to you getting a job sooner rather than later. Here are some of the top jobs for MBA graduates.
Factors like your state, specialization, and your work experience will affect how much you can expect to earn after getting your MBA. Even so, if you’re wondering whether an MBA is worth the investment, chances are you’ll find many MBA career opportunities will provide you with a higher salary and greater job satisfaction.
To help you get started – we have compiled a list of some of the top online programs. Earn while you learn and gain the education you need to back your experience and advance your career.