Is an MBA Salary Worth the MBA Cost?
Earning your MBA from Baker University could be the start of a career path lined with new opportunities, leadership-level responsibilities, and increased earnings.
Simply having an MBA on your resume can help you stand out in a sea of qualified applicants. Once you land a job, the median average salary for an MBA graduate begins at $125,000 per year, according to the most recent Graduate Management Admissions Council survey.
Even when MBA cost is considered, a 2022 study piloted by Georgetown University researchers reveals that MBA degrees lead to higher net earnings.
In other words: Given the high average salary for an MBA graduate, the degree is worth the investment from a financial standpoint alone.
What Is an MBA?
An MBA, or Master of Business Administration, is a degree that gives you the hard and soft skills you need to succeed in the world of business—whether that means launching a new career or advancing the one you already have.
The specialized business and leadership capabilities you develop through Baker’s program will prepare you to help businesses of all kinds achieve their aggressive goals, all while you earn a rewarding MBA salary.
Baker’s focus on practical application means you spend time not only in class, but also working on real-world projects, where the lessons you learn can be applied to your professional life right away.
Should I Get an MBA That Offers Concentration Areas?
Focusing on tracks like finance, human resources, and supply chain management is another way to boost your MBA salary. You gain a well-rounded perspective on business while developing proficiency in a specific area.
At Baker, you can select from eight concentration areas to further increase the benefits of an MBA. Gain tailored knowledge in the field that interests you most:
- Data analytics
- Finance
- Health care administration
- Human resources
- Strategic management
- Supply chain management and logistics
- Transformational studies
- Venture and innovation development
The 2023 Graduate Management Admissions Council survey reports that today’s employers are seeking MBA graduates who have skills in communication, data analysis, and strategy. Baker helps you reinforce these in-demand skills by offering MBA concentrations in these areas.
Beyond an MBA Salary: Why Should I Get an MBA?
With the average salary for an MBA resting firmly at the six-figure mark, potential earnings are no doubt a motivating factor in earning your degree.
But there are other reasons why an MBA is worth it:
- You’ll learn how to become a good leader—someone who has courage and has earned respect, can deliver and act on feedback, understands different perspectives, and is an effective coach.
- You can build a great network of people who teach you about new industries, connect you with new opportunities, and offer advice as you advance your career.
- You’ll qualify for a variety of roles across almost every industry, from health care and hospitality to manufacturing and finance.
- Your communication will improve as you get the opportunity to practice and sharpen your written and oral communication skills. This will help you better convey concepts, share ideas, and explain business plans and strategies.
- You can grow in your current career, just like the majority of Baker MBA students who work full time. Even if your sights are set on higher-level positions, you can use your MBA education in real time to grow professionally, making an impact in your current role.
Evaluating MBA Cost vs. Return on Investment
How do you know whether the MBA program you’re considering is worth the investment?
There are certain points to consider if you want to make the most of your education investment. These long-term gains can outweigh short-term investment costs.
Flexible time commitment. If you’re wondering, “When should I get an MBA?” the answer is this: Whenever it works best for you. In as few as 18 months, you can earn your Baker graduate degree. Every year after that is an opportunity to expand and accelerate your career to earn a higher MBA salary. Or you can take your time and earn your degree at a pace that works best for you.
Built-in support for success. Baker offers many support services for MBA students, from academic advising to career counseling. We’re here to help you reach your professional and personal goals.
Accreditation. Baker is accredited by the Accreditation Council for Business Schools and Programs (ACBSP), which recognizes highly respected institutions. Our accredited programs are acknowledged for teaching excellence, which improves the value of your education.
The Outlook for MBA Grads Is Strong
One of the many benefits of an MBA is the strong outlook for business and leadership jobs. For example, the U.S. Bureau of Labor Statistics predicts that nearly 911,400 new business and finance jobs will be created each year through 2032.
Almost every type of business benefits from having a strong leader who can motivate, strategize, innovate, and make decisions.
Organizations are hiring for job titles like these:
- Business development analyst
- Data analyst
- Finance director
- Marketing leader
- Operations manager
- Sales and logistics manager
Benefits of an MBA From Baker University
“Should I get an MBA?” It’s a question that many potential MBA students ask before enrolling in a program.
At Baker, you can earn your graduate degree online without pausing your career. We’ll prepare you for the director- and executive-level roles that come with the MBA salary you want.
Beyond the attractive average MBA salary, here are additional benefits of an MBA from Baker:
- The opportunity to network and learn with students who have different business experiences and perspectives
- The option to enroll in a program that doesn’t require GRE or GMAT scores
- Flexibility, with courses that are held online and year-round, with no traditional start dates
- Strengthening leadership, marketing, decision-making, communication, and data analysis skills to align with your career goals
