There are many different ways to earn a higher salary. You can negotiate with your boss or polish up your resume and look for a better-paying job. If you go down that path, though, expect some roadblocks.
One particularly huge hurdle is your education level. Many jobs with excellent salaries are reserved for folks who pursue higher education. Hiring managers only want candidates with an MBA.
Even if you have a bachelor’s degree and you’re qualified, they won’t consider you. That’s why you should consider investing in higher education. The price of an advanced degree might put you off, but in the long run, it pays for itself — and then some.
The numbers don’t lie
It can take time and effort to pursue higher education. But a new survey from the Graduate Management Admission Council says MBA graduates earn way more than their colleagues without one.
“At $115,000, the median salary of MBA graduates is 77% more than those with a bachelor’s degree,” researchers said. Not only that, but the study also says an MBA graduate will have a median salary that’s 53% higher than someone hired directly from the industry.
Even more shocking was this finding: An MBA graduate could earn a whopping $3 million more than someone who only has a bachelor’s degree.
It varies on your MBA program, of course. The boost in benefits is especially notable for those in information technology, marketing and sales, general management, health care and financial services, according to Fortune Education.
If you complete an online MBA program, the benefits are twofold. Not only are you developing yourself as a person, building new skills and networking opportunities, but you’re also giving your future self a gift. You’re unlocking opportunities for high-paying jobs that will provide you with higher salaries than ever before.
Invest in yourself. It pays some fat dividends over time
With all the change in the world lately, getting an MBA is one of the smartest ways to prepare for your future. The W.P. Carey School of Business at Arizona State University offers full-time, part-time, online and executive MBA programs. All ranked in the top 30 nationally by U.S. News & World Report.
There’s nowhere better to prepare yourself for what’s next than ASU, named the most innovative university in the country by U.S. News for six consecutive years. Discover the MBA for what’s next: The W.P. Carey MBA at Arizona State University. Learn more at asubusiness.com.