MBA Degree Pay Up in 2005: Online Degree Could Pave Your Way
MBA degrees have been held in high regard for some time, but it looks like a number of industries have pushed it up a notch. In 2005, the base salary for an MBA reached a new high of $88,626, passing the mark set in 2001. Technology, health care, and international business sectors are increasing the demand for MBA educated employees, and they're showing their appreciation with cash.
Tech Rebounding and Health Care Exploding
There's no doubt that the growing biotechnology field and an aging population have put some serious management strains on health care officials. That strain has encouraged health care officials to hire people with MBA degrees to meet the new challenges in the industry and to manage the growing business. Plus, technology seems to be rebounding since the dotcom bust, which spells more opportunity for people with an MBA education.MBA Education and Opportunity Abroad
But employers seeking MBA degree-holders isn't just a U.S. phenomenon; it's a global trend. USA Today reports that the average salary and bonus for new MBAs on the international scene is up by 10 percent for 2005. Over 200,000 GMATs (Graduate Management Admission Tests) are taken internationally each year, but with China, India, and Russia setting up MBA programs to try to meet the business administration demands of their growing economies, that number is sure to increase along with the number of MBA degree-holders.The Online Degree Option
If a base salary and bonus equaling $106,000 or more sounds good, getting an MBA online may be an excellent educational investment. An online degree lets you study on your own schedule, which also allows you to work a full-time job as well. Online degrees also knock out commuting times. So with wages going up for those with an MBA education, it's definitely time to look into online and campus MBA degree programs.Sources
USA Today MBA Education
GMAC Current GMAT Volume
About the Author
James Tolles is the Managing Editor for hq|publications. He is a freelance writer and holds two B.A. degrees, one in Creative Writing and the other in History.
