As undergrads, the thought of leaving college with a great paying job is the primary focus. Not all students inherit money. Not all students are born into money or luck up and become a millionaire at a young age. The vast majority of young adults get a 9 to 5 and work their way up in hopes of making six figures. The only barrier that stops them from making a great salary, oftentimes, is lack of graduate-level education. For many employers, the difference in a person making $45,000 a year versus $120,000 is a graduate degree. Higher education is a top factor when employers seek their next stellar employee. While financial setbacks like undergrad student loans may have a person debating whether or not to return to school, it is good to understand the importance of a graduate degree and its possible impact on your career and wallet. In a survey conducted by the Graduate Management Admission Council, 84% of employers say that they will hire MBAs in 2015. Also, 51% says that they will increase salaries if a candidate has a MBA. The survey accounted for 748 employers across 47 countries. To companies, a business degree (i.e. MBA) signifies that this individual has the leadership and interpersonal skills to push the business forward. This is what most companies are looking for in a candidate. According to TopMBA.com, MBA candidates have an advantage in the job market because “an MBA thinks like a CEO, is able to take theoretical knowledge and apply that to real-world situations with data analysis, and uses fine-tuned critical thinking to solve the business problems that arise without notice in MBA jobs.” Future CEOs and/or executives should obtain a MBA, especially if money is a priority. This degree can easily award you a six figure salary. In the U.S. and Canada, a base salary can be $97,300 with bonus potential of $26,100. The same goes for Western Europeans, the salary level for a MBA holder is approximately $91,300 with a bonus potential of $19,000. Employers are willing to dish out this type of money because they’re assured, with that level of education, that you are capable of making their business profitable. To learn more about colleges and universities and their MBA programs, visit TopMBA.com.
