New Technology World

To Megan MarasApril 21, 2022 at 5:24 PM

UMass alumni will sing the national anthem at the University of Massachusetts Boston’s 53rd Annual Commencement Ceremony at TD Garden in Boston, Massachusetts, to be seen in August 2021. (Photo by Craig F. Walker—The Boston Globe/Getty Images)

Earning an MBA requires a large investment of time and energy. Most programs require at least two years of rigorous curriculum, extracurricular activities, networking and internships. And not to mention the months of test preparation that many students undergo in order to be admitted to the program. Choice and cost of returning to school.

Good news? According to a survey of 3,600 alumni conducted by the Graduate Management and Admissions Council (GMAC), 87% of business school graduates experienced a positive return on their investment in a graduate business school degree. so all that effort is worth it. The survey found that 94% of alumni rated the value of a graduate business education as good, excellent or outstanding.

“In the face of ever-evolving work environments, restrictions on international travel, and rising costs of education, many are asking the question: ‘Is it worth getting a degree in business?'” Chowfla said. , the answer is overwhelmingly yes. According to the survey, graduates said that a business degree improved their employability and earning power, prepared them for leadership positions, and supported the lifestyles they wanted.

Published in March, the report is composed of survey results provided to participants over a 12-year period and provides a long-term perspective on the value of an MBA. The questions were first asked while respondents were pursuing a graduate business degree, and then after they had completed the program. Below are her three key insights from the report.

MBA students are motivated by increased job opportunities

74% of MBA and Master of Business degree holders surveyed by GMAC cite the potential for more employment opportunities as a motivation for pursuing a degree. Other common motivations include increasing salary potential and developing general business knowledge, skills and abilities.

The survey shows that most of these students found what they were looking for, as students see a return on investment both immediately after graduation and over time.

According to the MBA Career Services & Employer Alliance, in the 2021 class of MBA graduates who graduated from full-time programs, 87% of these students received a job offer within three months of completing their program. Also, 73% of graduates got a job offer before graduating from school.

These job opportunities were primarily facilitated by the business schools themselves. Last year, 68% of class job acceptances came from internships, interviews secured through the school, job postings on the school’s career system, and activities supported by the school’s career center.

MBA graduates earn significantly higher earnings for their degrees.

The cost of a graduate degree can be daunting, but research shows that managers and MBA graduates, on average, earn far more than they would without a degree. is getting They also experience significantly higher earnings throughout their careers.

According to a GMAC report, the median starting salary offered to MBA graduates last year was $115,000, compared with $95,000 the same employers would pay new hires coming straight from the industry at $115,000. did. According to GMAC, an MBA graduate can expect to earn $3 million more in her lifetime than someone with only a bachelor’s degree.

And employers certainly pay attention to applicants with an MBA degree. According to GMAC’s 2021 Corporate Recruiters Survey, 54% of employers said business school graduates tend to hold higher positions, and 68% said leaders in their organizations typically graduated in business. said he holds a degree in

Additionally, according to a recent GMAC report, 70% of employers agree that people with post-graduate business school education in their organizations tend to earn more than others. increase.

Business school graduates are using their degrees to transform their careers

The GMAC report points out that the rapidly changing business environment is pushing professionals to prepare themselves by acquiring a variety of skills. Regardless of your industry, there is a lot of value in being able to shift gears quickly.

Of the 3,600 survey respondents, 51% said they were seeking an MBA to change career paths. The skill set acquired in an MBA or graduate business degree program is attractive to many prospective students. This allows us to work dynamically across jobs and industries.

In fact, 38% of alumni changed industries after graduation, and a further 37% of those surveyed changed jobs. Consulting receives the highest number of industry-changing graduates, and over 70% of those who have worked in consulting after graduation have moved on from another industry.

How does the school you are considering rank in Fortune’s ranking of the best master’s degrees in the areas of public health programs, business analytics programs, data science programs, part-time, executive, full-time, and online MBA programs See if you’re in.