How Much Can I Earn with an MBA Degree?
An MBA can be an economic springboard; depending on the field, it can raise annual income by significant amounts. Many surveys support the conclusion that, in today’s global economy, an MBA can set applicants apart and put them in position for high salaries, benefits, and upward career mobility.
The cost of an MBA can be substantial; MBA tuition at the top schools is much higher than the national averages for public and private schools. The rewards of a master’s degree in business administration go beyond income, to the valuable knowledge and personal enrichment of high-level education. The student’s decision process should an assessment of the MBA based on costs and benefits. Applicants should research the costs of an MBA and subtract it from the costs of lost opportunities had they not entered an MBA program. When factored in, most students find that they will get back their investment in the MBA and much more.
The below-listed items from a 2017 LinkedIn salary survey demonstrate the median annual earnings of degree holders across all categories.
- Bachelor’s Degree- $79,800
- Master’s Degree- $87,700
- Research Doctorate-$94,100
- MBA- $118,300
- Doctor of Medicine-$161,200