{"id":23440,"date":"2014-04-03T14:29:44","date_gmt":"2014-04-03T21:29:44","guid":{"rendered":"https:\/\/gmatclub.com\/blog\/?p=23440"},"modified":"2014-04-03T14:29:44","modified_gmt":"2014-04-03T21:29:44","slug":"is-it-worth-it-to-get-an-mba","status":"publish","type":"post","link":"https:\/\/gmatclub.com\/blog\/is-it-worth-it-to-get-an-mba\/","title":{"rendered":"Is it Worth it to Get an MBA?"},"content":{"rendered":"

\"MBA<\/a>Ah, an age old question. Let\u2019s dive right in!<\/p>\n

Forbes<\/a><\/em> reports on a recent 2010 peer-reviewed study that was published in the Journal of Education for Business<\/em> in which 550 MBA alumni were surveyed and survey data relating to pre-MBA pay, post-MBA starting salaries, and five years post-graduation salaries.<\/p>\n

To make this research relevant to most prospective MBA students, this study is based on salary data from a high-quality business school that typically is ranked in the Forbes<\/em> Top 50 but is not one of the most elite schools, such as Harvard or Stanford. For salary data on all of the Forbes<\/em> Top 50 business schools, see the 2013 Forbes<\/em> business school ranking<\/a>.<\/p>\n

Here are some highlights from the study:<\/p>\n

\u2022 For full-time MBAs, post-MBA starting salaries increased by 50% compared to pre-MBA salaries. This is virtually unchanged from the 50-60% increase in 1994 and the 51% increase in 1997.<\/p>\n

\u2022 The five-year post-MBA salary increase for full-time MBA grads was up 80% over the post-MBA starting salaries. Again, there was no significant change in this figure compared to previous years.<\/p>\n

\u2022 For part-time MBAs, the post- over pre-MBA salary increase was 41%.<\/p>\n

\u2022 The five-year salary increase for part-time MBAs was 56%.<\/p>\n

\u2022 The report found little connection between the number of years of pre-MBA work experience and the five-year post-MBA salaries.<\/p>\n

\u2022 For starting salaries, there was a $2,822 pay increase for each year of pre-MBA work experience \u2013 this isn\u2019t very significant.<\/p>\n

\u2022 Starting salaries were about $1,000 higher for finance majors<\/a> than for marketing majors, but by the end of the five year post-MBA period, those salaries were identical.<\/p>\n

\u2022 Women earned about 87% of what men earned for post-MBA starting pay. Five years later, they were earning 88% of what men were making. This is true across all disciplines other than finance and marketing. In finance, women earned about 90% of what men earned straight out of b-school, but five years later were earning only 70%. In marketing, both straight out of b-school and five years later, men and women were earning about the same amount.<\/p>\n

\u2022 The report found no connection between an MBA\u2019s GMAT score<\/a> and his or her post-MBA salary.<\/p>\n

\u2022 94% of MBAs surveyed answered \u201cyes\u201d to the question: \u201cIf you had it to do over again, would you still go for an MBA degree?\u201d In 1992, only 92% responded \u201cyes\u201d to that same question.<\/p>\n

According to these numbers, there are substantial pay increases post-MBA, particularly five years later. (The Forbes<\/em> article points to its 2013 Forbes<\/em> business school ranking<\/a> for further confirmation, reporting that almost all of the Top 50 programs illustrate an investment payback period of less than five years.)<\/p>\n

\"This<\/a><\/p>\n

\"Accepted.com\"<\/a> Accepted.com ~ Helping You Write Your Best <\/a><\/em><\/em><\/p>\n

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Accepted.com's experienced admissions consultants<\/a> can help you create the most impressive application possible with comprehensive packages<\/a>, <\/i><\/b>or provide targeted assistance from picking perfect programs<\/a> to designing a dazzling resume<\/a>, constructing engaging essays<\/a>, or preparing for intense interview<\/a>s<\/a>\u2026and more! Accepted.com has guided thousands of applicants to acceptances at top MBA programs since 1994 \u2013 we know what works and what doesn't, so contact us<\/a> to get started now!
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This article originally appeared on the Accepted Admissions Consulting Blog<\/a>, the official blog of Accepted.com.<\/em> <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Ah, an age old question. Let\u2019s dive right in! Forbes reports on a recent 2010 peer-reviewed study that was published in the Journal of Education for Business in which 550…<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,4,6,1,939,775,113,243],"tags":[170,168,169],"class_list":["post-23440","post","type-post","status-publish","format-standard","hentry","category-mba","category-career-reviews","category-current-events","category-uncategorized","category-accepted","category-admission-consultants","category-applications","category-blog","tag-mba-degree-value","tag-mba-value","tag-mba-worth","entry"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\n\t\t\n