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Almost nine of the ten graduates say the MBA is worth it

To Megan MarasApril 21, 2022 17:24

UMass graduates represent the national anthem at TD Garden in Boston, Massachusetts at the 53rd opening of the University of Massachusetts Boston, as seen in August 2021. (Photo courtesy of Craig F. Walker—The Boston Globe / Getty Images)

Obtaining an MBA requires a great deal of time and effort. Most programs require a rigorous curriculum, extracurricular activities, networking, and internships for at least two years. Not to mention the number of months of test preparation that many students take to enroll in the program. Choice and cost to return to school.

Good news? According to a survey of 3,600 graduates conducted by the Graduate Management Admissions Council (GMAC), 87% of business school graduates experience a positive benefit in investing in a graduate business school degree. So all that effort is worth it. We also found that 94% of alumni rated the value of graduate business education as “good,” “excellent,” or “excellent.”

“In the face of an ever-evolving working environment, travel restrictions and rising education costs, many are asking the question,’Is a business degree worth it?'”, GMAC President. Sangeet Chowfla, also and CEO, said in a press release. .. Studies show that graduates have improved their employability and profitability, gained leadership, and supported their desired lifestyle with a business degree.

Published in March, this report consists of the results of a 12-year survey of participants and provides a long-term perspective on the value of the MBA. Respondents were first asked when they had a graduate business degree and then after completing the program. Below are three important insights from the report.

MBA students are motivated by increasing their work opportunities

Of the MBA and Master’s Degree candidates surveyed by GMAC, 74% cited the prospect of more employment opportunities as an incentive to earn a degree. Other common motivations include increasing salary potential and developing general business knowledge, skills and abilities.

According to the survey, students see the return on investment both immediately after graduation and over time, so they found what most students were looking for.

According to the MBA Career Services & Employer Alliance, 87% of 2021 MBA students who graduated from the full-time program received jobs within three months of completing the program. In addition, 73% of graduates had a job offer before graduating from school.

These employment opportunities are primarily facilitated by the business school itself, with 68% of employment in last year’s classes being internships, interviews secured through the school, job advertisements for the school’s career system, and the school’s career center. It was due to the activities supported by.

MBA graduates have a bachelor’s degree, which has significantly increased their bottom line.

The cost of getting a graduate degree can be daunting, but studies show that, on average, graduate management or MBA graduates earn far more than they would without a degree. I’m getting it. They also experience significantly higher incomes throughout their careers.

According to a GMAC report, the median starting salary offered to MBA graduates last year was $ 115,000, compared to $ 95,000 for the same employer who would pay new employees directly from the industry. According to GMAC, MBA graduates can expect to earn $ 3 million more over their lifetime than those with a bachelor’s degree.

And the employer certainly pays attention to applicants with an MBA degree. According to a 2021 recruitment survey by GMAC, 54% of employers say business school graduates tend to jump to higher-level positions, and 68% say that organization leaders are usually graduates. Said to have a business degree in.

In addition, according to a recent GMAC report, 70% of employers agree that people in a graduate business school education in an organization tend to earn more than others.

Business school graduates use a degree to pivot their career

The GMAC report points out that the rapidly changing business environment is encouraging professionals to prepare by mastering a diverse set of skills. Regardless of the industry, being able to shift gear quickly is of great value.

Of the 3,600 survey respondents, 51% said they have an MBA to change their career path. Skill sets obtained through an MBA or Graduate Business Administration degree program are attractive to many future students. That’s because it allows them to be dynamic throughout their work and industry.

In fact, 38% of graduates changed jobs after graduation, and 37% of those surveyed changed jobs. Consulting accepts most of the graduates who switch industries, and more than 70% of graduate students who are involved in consulting have changed jobs from another industry.

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