Is An MBA Worth It Even Today? GMAC Survey Says 9 Out Of 10 MBA Grads Think It Is!
The most stressful time for college students is when they have to choose the right career path for themselves. An MBA degree is evidently one of the most popular degrees in the finance sector.
Even though an MBA is famous among finance students, it still instigates doubt among freshers who want to opt for an MBA but are unsure of its long-term benefits.
What Long-Term Benefits Await MBA Graduates?
Most programs, including MBA, require students to engage in continuous training, along with a huge investment of time and energy (money, as well), extracurricular activities, training programs, those mind-boggling assignments and of course, internships as well.
Every student who engages in a degree program would definitely want to know if such a huge investment of time will bear him a positive path in the future, or will his attempts be proven futile. Surely, no student wants to end up at a dead end especially after doing an MBA.
Fortunately, according to a recent survey conducted on 3,600 graduate students by the Graduate Management Admission Council or GMAC, almost 87% of alumni from various business institutions expressed a positive outcome from their time and money invested in their graduate business school degree.
According to additional data accrued from the survey, 94% of alumni rate the value of their graduate business education to be good, excellent, or outstanding.
Do MBA Grads Receive More Job Offers Than Other Degree Graduates?
According to the report by GMAC, the majority of those students found what they were searching for in an MBA degree, as they see a return on investment both right after graduation and in the longer term.
74 percent of MBA and business master's degree candidates polled by GMAC say the potential of greater career opportunities motivates them to pursue their degree. Increased earning potential and the development of general business knowledge, skills, and competencies are also attractive motives.
87% of MBA graduates from the 2021 batch of full-time programs received job offers within three months of their program completion, according to the MBA Career Services & Employer Alliance. Alongside that, 73% of graduates had a job offer before they even finished their program.
These job opportunities were mostly provided by business schools themselves, with internships, interviews gained through their schools, job advertisements on school career systems, and activities supported by the school career center accounting for 68 percent of job acceptances by the previous year’s batch.
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Are MBA Degrees Too Costly? What Is The Scope Of MBA Salary?
The total program cost of an MBA degree in a reputed educational institution can be daunting, and paying such a huge amount at one time may not be possible for students. To aid students, most business schools do provide their fair share of internships, financial aid, and scholarships to students.
Additionally, according to studies, graduate management or MBA graduates earn much more than those who do not possess a degree. They also earn significantly more money during their careers.
According to the GMAC survey, the typical average pay offered to MBA grads last year was $115,000, compared to the $95,000 that the same businesses intended to pay new workers directly from the industry. According to GMAC, an MBA graduate may expect to make $3 million more in their lifetime than someone with only a bachelor's degree.
Furthermore, according to a recent GMAC research, 70% of employers agree that workers with a graduate business school education earn more than others inside their organization.
Any college degree from recognized institutions may cost almost a fortune for some students. In such a competitive environment, it is advisable for students to choose the best degree for themselves, and be wary not to limit themselves to pursuing a degree only. Students must also attempt to do internships, conduct additional research and also learn additional courses.
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