How an Online MBA Degree Could Be the Next Step in Your Career
Perhaps you're in the middle of your career and are looking to increase your earning potential. Maybe you aren't sure what to do with that undergraduate business degree you've just earned. With MBA-holders pulling in an average of $106,000 in 2005, it's a good bet that an MBA could be your ticket to better pay. Widespread need in a variety of sectors suggests that you can explore any number of industries with an online MBA degree in your hands.
Why an MBA Degree Makes Sense
An MBA degree can help you earn the salary you want to buy the latest Mustang, fix up the home, or to pay for the kids to go to college. For 2005, MBA graduates fresh out of school earned $88,600 in annual salaries. Plus, they got bonuses that put the total average take for the year at $106,000. In a Graduate Management Admissions Council (GMAC) study, 82% of 2005 MBA alumni said that "they could not have gotten their first job after graduation without their graduate management school training."Who's Hiring MBA Degree-Holders
Demand for individuals with MBAs is strong in a number of sectors including:- the U.S. government
- non-profits
- healthcare organizations
- consulting firms
- banks
- technology companies
If you know that you already like an industry or want to stay within one, you can oftentimes get an MBA degree with that emphasis. For instance, if you're interested in healthcare, there are MBAs specifically tailored for health administration. The same is true for finance and technology among others. This specialization can even further increase your value and give you added negotiating leverage with employers in a given sector.
How To Get Started Finding the Right MBA Program
You can use the degree selection tool on this page at the upper left to request information about online MBA degrees programs to help you make a smart choice. An online MBA degree program can be the right fit if you need flexibility with family or work obligations. It also can remove commuting or relocation concerns.It's also pretty standard that you'll need to take the GMAT--the standard entrance exam into MBA degree programs. It measures your verbal, mathematical, and analytical writing skills. Most bookstores have GMAT preparation books that can help you get more information about and get prepared for the test.
Hopefully, an online MBA degree will be your path to better pay and a great career.
Sources
- Are you ready for the Graduate Management Admission Test (GMAT)?
- "New MBAs finding education pays off big time", by Del Jones. USA Today (Jan 19, 2006).
- MBA Alumni Perspectives Survey
About the Author
James Tolles is a freelance writer and holds two B.A. degrees, one in Creative Writing and the other in History.
