![]() This is also true of people who get an MBA degree: graduates with more work experience tend to make more money than those with less experience. In any industry, people with more work experience are well-positioned to make more money than those with less experience. Often released annually, MBA programs report job details for their most recent graduating class, including statistics like average salary, which may be broken down further by industry, location, and specific employers.Įmployment reports can be a useful reference as you consider which MBA programs might be a good fit for you because they can offer insight into the job functions each program focuses on, as well as potential networking avenues. ![]() This factor may be due to the caliber of the MBA program or the school’s career placement and networking opportunities, among other reasons.Īccording to US News & World Report, these schools reported the highest average starting salary with bonuses for their 2021 full-time MBA graduates :įor a more complete understanding of MBA salaries of graduates from a specific school, search for the school’s employment report. Having a certain school’s name on your resume may help boost your chances at securing a higher-paying job. Making more money in an area with a high cost of living may result in a similar lifestyle as making less money in an area with a low cost of living. Still, as you consider your post-MBA career options, it can be useful to consider where your industry of choice is concentrated, as there will likely be more financially competitive opportunities in those areas.Īdditionally, consider the local cost of living. ![]() Many MBA programs offer career placement and networking services that allow graduates and hiring companies to connect via channels outside of the traditional job-posting websites, so this data set likely only represents one portion of the MBA degree job market. However, this analysis is guided by salary data primarily retrieved from jobs listed on ZipRecruiter. Generally, local cost of living and local industry demand are two factors that may impact salary.Īccording to ZipRecruiter, which reports an average MBA salary of $82,721 in the US, the ten states with the highest average MBA salaries are : Where you are can influence the amount of money you make. For example, if you are hoping to work in consulting, seek programs that offer a consulting major or specialization to further hone your skills in that area. If you are hoping to maximize your post-MBA salary in a specific industry, it can be helpful to seek MBA programs that are recognized for their commitment to that specific industry and to tailor your coursework to meet any industry requirements. Even still, these lower-paying industries average higher than the US national average annual salary across all industries, about $58,260, according to the US Bureau of Labor Statistics (BLS). Of all the industries they analyzed, nonprofit ($90,381) and government ($87,675) tended to be lower paying. According to US News & World Report, the industries with the highest average starting salaries are : IndustryĬertain areas of business tend to offer higher salaries. Here, we’ll break down how each of those four factors can impact earning potential-and how you may be able to maximize yours-so that you can better estimate how your MBA may boost your salary. There are a number of factors that can influence the amount of money you can anticipate earning after getting your MBA, including area of industry, job location, the school you graduate from, and years of experience. We'll also offer data that examines average MBA salary increases and salary growth over time. In this article, we'll break down average MBA salary by factors including: The National Association of Colleges and Employers (NACE) Winter 2021 Salary Survey projected a lower average MBA starting salary of $87,966 and US News & World Report calculated an average starting salary for the class of 2021 to be $95,370 base salary and $105,684 including bonuses, while the Forté Foundation’s analysis of 2020 MBA salaries found that graduates earned a more generous average between $133,511 and $144,956 within two years of leaving their program. Īverage MBA starting salary data does vary across surveys. That’s $40,000 higher than projections for direct-from-industry hires, and $50,000 higher than job candidates with a bachelor’s degree. ![]() The median starting salary for MBA graduates at US companies in 2021 was projected to be $115,000, according to a 2021 corporate recruiters survey from the Graduate Management Admissions Council (GMAC). In the world of business, Master of Business Administration (MBA) degree salaries are generally much higher than salaries of people in comparable roles who don’t have an MBA.
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