Articles

Knowing What Salaries To Expect With An Online MBA Degree

2010-10-06

Obtaining an MBA is a great way to improve salary potential, advance an existing career or begin a new one. MBA graduates enjoy better advancement opportunities and job satisfaction, and are valued for their management skills by more big industries than ever before, from health care to technology and human resources. Today, it is possible to get an online MBA from a wide range of accredited schools. Many people choose to return to school or to get an online MBA in hopes that it will open new career options and provide increased earning power. While an MBA isn't a guarantee of either of these, it certainly helps.

Exactly what a graduate can do with an MBA and what he can expect to earn varies according to many factors. While it is the case that one of these is the prestige of the degree granting institution, so many fine schools are now offering online MBA degrees programs that the distinction is becoming less of a consideration to those offering the positions. The choice of a specific area of expertise and the ability to improve salary potential remains a constant regardless of the origin of the degree.

Another determinant of what a graduate should expect to earn is directly related to the specific field of endeavor that he chooses to pursue. The salary for a manager of a non-profit organization, for example, is not going to be comparable to that of a corporate financial controller or cheif executive officer (CEO). Someone working as consultants for a high-tech engineering firm will most likely make more than someone working as an accountant for a small manufacturing company.

On way to get a good feel for the range of salaries enjoyed by MBAs is to compare the median salaries for a number of different positions usually filled by these degree holders. The median income for a portfolio manager, for example, is a bit more than $100,000 a year. Marketing directors can realistically expect to earn $140,000 a year on average, and the average salary of a corporate CEO is more than $600,000 per year. Obviously, there is no hard and fast answer to how much an MBA will earn, but it is a fact the average MBA does improve salary structure from 10 percent to more than 80 percent, and 35 percent on average. In addition, starting salaries for MBA graduates is almost 40 percent higher than those without the degree.

In today's world, it is more convenient and far less costly to obtain an online MBA and to obtain the essentials for a successful and rewarding business career.