MBA degrees are one of the most popular degrees among working professionals because it may lead to higher-paying positions in management.
Average Wage Outlook for MBA Program in Management Graduates
In 2013, an MBA graduate brought in an average annual wage of $95,000 (Graduate Management Admission Council). Additionally, during the same period, 60% of them earned a $15,000 signing bonus.
Salary levels of MBA graduates also rely on various other factors, such as region, skill level, program type and experience. For instance, the highest average annual starting wage of $100,000 was paid in the Northeast. Professionals employed in the South earned an average annual wage.
The cost of living in these places may account for the variances in wage levels. In 2013, MBA program graduates earning the highest wages were employed in industries such as technology, finance/accounting, consulting and products/services (GMAC).
Profession-wise Wage Levels of MBA Graduates
Some form of management position is incorporated in nearly all professions. Earning an MBA degree will often serve to ensure advancement within the company and greater financial standing. Initiative taken by professionals to provide broader management skills may be rewarded by a company, in addition to attracting promotions, incentives, and salary increases. Students in MBA degree programs are typically required to select a specialization in an area of management; the U.S. Bureau of Labor Statistics reports annual average wage levels for various management positions.