Starting Salaries for MBA Majors
There is much riding on the decision to obtain a Masters of Business Administration (MBA). Though it is only two years out of a serious student’s precious time in planning for a fast-tracking career goal, the Online MBA Program is one that can lead right into higher salaries through robust promotions, better networking and a host of aspects, too many to express in a few words.
What to Expect as a Starting MBA Salary
– In the Financial sector reporting a 70 percent satisfaction level, the starting median salary is $62,100 with a wage growth of 93 percent and a mid-career salary of $120,000.
– In Marketing, there is a satisfaction factor of 69 percent for a starting median salary of $55,700, wage growth of 108 percent and a mid-career salary of $116,000.
– In Technology Management, reports reflect a satisfaction factor of 73 percent with a starting median salary of $60,000, wage growth of 68 percent and a mid-career median salary of $101,000.
– In Human Resources, we are seeing a satisfaction level of 73 percent with a starting median salary of $45,700, a wage growth of 60 percent and a mid-career median of $73,300.
Note: Above figures are the result of Payscale.com researching these four common MBA majors as compared to the degree holders’ estimation of the factors included.
The Changing Global Climate
With the entire world market taking a major hit since 2009, the statistics bear out as though reading the rings of a global tree. Where salaries were cresting by 2008, the crash of 2009 dropped them back down below their benchmark in 2007. Watching the numbers from the bubble’s bursting has revealed the steady, arduous climb to get back to where they were brimming before the crash where they have been holding strong. In other words, folks, it’s time to get to work.
Globalization is very much the norm now, with high demand for professionals capable of conducting business on the world stage. According to the career advise from Monster.com, the median mid-career salary for international business is currently $116,000. According to Payscale.com, the starting salary for North American MBA Majors is $88,000, not including bonuses.
However, as with others, the Online MBA Program is not a get-rich-quick scheme. It is truly the means to mastering the well-sought professional expertise in this wide ranging field of opportunity. There also remain the variables of geography, job function, choice of industry and every recruiter’s main focus – experience.
The schools that avoid a primary focus on how much candidates stand to earn also avert the disservice this approach tends to take. In the present market, there is a bit of an undefined “intangible” that global markets are hoping for, in essence, the very quality the Online MBA Program is designed to fulfill.
A Choice School for the MBA
If the last five years have taught the MBA candidate anything, it is to be prepared to embrace change in the career market, including the field of choice and areas of expertise. At Lindenwood University, their school of Business Administration provides for real-world experience and career advice coming from instructors bringing skills directly from the global marketplace.
With scholarships and internships at top-notch firms, there is an innate desire within the Online MBA Program to see every student reach their goals. The relationships developed with mentors, networking with friends and friends of friends as well as a larger world view through the eyes of foreign students are invaluable.