{"id":26662,"date":"2014-12-10T03:00:24","date_gmt":"2014-12-10T10:00:24","guid":{"rendered":"https:\/\/gmatclub.com\/blog\/2014\/12\/what-shark-tank-can-teach-you-about-your-post-mba-salary\/"},"modified":"2014-12-10T03:00:24","modified_gmt":"2014-12-10T10:00:24","slug":"what-shark-tank-can-teach-you-about-your-post-mba-salary","status":"publish","type":"post","link":"https:\/\/gmatclub.com\/blog\/what-shark-tank-can-teach-you-about-your-post-mba-salary\/","title":{"rendered":"What \u2018Shark Tank\u2019 Can Teach You About Your Post-MBA Salary"},"content":{"rendered":"
\"Find<\/a><\/p>\n

What kind of salary growth can you expect in your career after business school? Will you see a high ROI reflected in your MBA salary?
Photo Credit: The Urban Scot<\/a> via Compfight<\/a> cc<\/a><\/p>\n<\/div>\n

Let\u2019s imagine that you\u2019re on ABC\u2019s Shark Tank<\/i><\/a>, where entrepreneurs (many of them MBAs!) pitch their business and product ideas to five mega-millionaires<\/a> in the hopes of gaining the coveted financial and strategic support of a \u201cshark.\u201d<\/p>\n

Only you\u2019re not the one pitching your product to the sharks. You\u2019re sitting in one of those sharks\u2019 leather chairs yourself, and the dean from one of the country\u2019s top business schools steps into the tank to convince you <\/i>to invest in an MBA. What questions would you ask the dean to help you determine whether or not you should go for that degree?<\/p>\n

You might wonder, how can going to business school help me? What kind of career and salary growth can my MBA help me attain? Let\u2019s take a look at some of the benefits that might help you, future shark, pull the trigger on investing in your future with an MBA.<\/p>\n

Show me the ROI!\u00a0<\/b><\/h3>\n

MBA salary growth is measurable and significant.\u00a0<\/i><\/p>\n

Shark Tank\u2019s <\/b><\/i>Kevin O\u2019Leary<\/a>, a.k.a. Mr. Wonderful, states in his book, Cold Hard Truth: On Business, Money & Life<\/i>, \u201cI\u2019m not trying to make friends, I\u2019m trying to make money.\u201d Every shark has to carefully analyze the financial prospects of any investment. We would expect nothing less from you, fledgling pup, in thinking about the ROI of your business school education.<\/p>\n

So what kind of salary growth and return on investment can you expect post-MBA? For starters, the median MBA starting salary<\/a> for the class of 2013 was $90,000, plus approximately $10,000 in bonuses and additional compensation.<\/p>\n

The level of increase that poses for you will depend, of course, on your current, pre-MBA salary. But if you\u2019re curious, business schools offer data on the average salary increases their graduates attain. The 2013 Forbes<\/i> business school ranking<\/a>, for example, details graduates\u2019 pre-MBA salaries; post-MBA starting salaries; and 5-year, post-MBA salary gains.<\/p>\n

For full-time students, post-MBA starting pay increased<\/a> by 50% upon graduation. For part-time students, the increase was slightly lower, around 41%. If you look at the five-year salary data, the monetary ROI of an MBA degree\u2014especially for a full-timer\u2014is even more compelling. Five years after graduation, full-time MBAs\u2019 median salaries increase by another 80% on top of their post-MBA starting pay<\/i>, compared to 56% for part-time graduates.<\/p>\n

That translates to a pretty hefty salary bump for future MBAs to look forward to. You can find a step-by-step method for calculating your own expected ROI here<\/a>.<\/p>\n

Taking the next step in your career<\/h3>\n

An MBA is immensely valuable to career growth, across industries.<\/p>\n

Obtaining your MBA can give you the freedom to not only move up at your current job, but also to pursue your passion in a different field or industry. This is a major business school selling point. Harvard Business School<\/a>, for example, shows how several of their alumni pursue various careers post-MBA. You can watch videos of current MBA students\u2019 stories<\/a> on GMAT\u2019s official website to hear more about real-life MBA opportunities and career motivations.<\/p>\n

Expanded career opportunities are a prime factor in an MBA\u2019s return on investment and worth. The Graduate Management Admission Council (GMAC) reports<\/a> that 77% of 2011 MBA alumni said they could not have gotten their first jobs post-graduation without their degree, and 88% report good to outstanding career outcomes in terms of opportunities for faster career advancement.<\/p>\n

Although a higher salary may be part of what makes an MBA worth the investment, money shouldn\u2019t be your only<\/i> motivation. When you\u2019re considering the reasons to get an MBA<\/a>, look at your personal career trajectory and examine the specific ways an MBA might be worth it for you in the long term. Will it help you get the job you want, find the career satisfaction you\u2019re looking for, or make a positive impact on the world?<\/p>\n

One more word on salary\u00a0<\/b><\/h3>\n

In the spirit of Shark Tank<\/i>, let\u2019s revisit the topic of money and worth one more time.<\/p>\n

When you\u2019re considering your potential MBA salary increases and career paths<\/a>, it may interest you to know that salary increases vary depending on whether you decide to stay with your current employer or change jobs post-MBA.<\/p>\n

Those who continued with their current employer saw an average percent increase in salary of 39%, whereas those accepting new job offers saw an average increase of 70%. MBA graduates accepting jobs from internships tend to see the highest percent increase in salary\u2014a whopping 84%. This is a big reason why internships<\/a> are considered a key part of the business school experience and maximizing your MBA investment.<\/p>\n

Remember, think like a shark!<\/h3>\n

Carefully analyze the ROI you can expect from your MBA\u2014both in terms of salary and career growth\u2014to maximize your sizable investment and make your MBA worth it!<\/p>\n

Increase your MBA ROI with a great GMAT score. Take our <\/i>free GMAT practice test<\/i><\/a> <\/i>today!<\/i><\/i><\/p>\n

The post What \u2018Shark Tank\u2019 Can Teach You About Your Post-MBA Salary<\/a> appeared first on Kaplan GMAT Blog<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

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