Get It While It's Hot: MBA Degrees Are Increasingly Popular

The popularity of the MBA degree is on the rise again. With the proliferation of non-traditional approaches, such as part-time, online, and executive programs, more people are pursuing an MBA. MBAs also offer incredible prospects of increased earning potential, and are in demand in many fields from investing, banking, and finance, to government and not-for-profit organizations.

by Jami J. Rodgers
jami.rodgers@MBA-Business-Schools.com
MBA-Business-Schools.com Columnist

An MBA Degree: A Popular Tool for Growth

Earning an MBA degree can provide you with the business acumen you need to successfully manage an organization’s business functions and people. According to the Graduate Management Admissions Council (GMAC), over 100,000 MBA degrees are awarded in the United States each year. GMAC also reports that 15,000 more students took the Graduate Management Admission Test (GMAT) from 2004 to 2005. As further evidence of the increasing popularity of the MBA, GMAC estimates there are more than 1,500 schools worldwide that offer MBA degrees. These figures suggest that pursuing an MBA is a popular choice for individuals seeking to strengthen their career opportunities.

Bolster Your Economic Outlook with an MBA

Obtaining an MBA may be popular in part due to its ability to increase your earning potential. According to a GMAC survey, the average salary for MBA graduates is $106,000 in 2005. Investment banks and consulting firms are traditionally the best paying groups for recent MBA graduates. Some even offer average signing bonuses of $40,000 according to GMAC. Don’t fret if you don’t see yourself in these popular sectors. The U.S. Bureau of Labor and Statistics projects a heavy demand for federal government and not-for-profit organizations in the coming years. While the salaries in these sectors may not be as high as their private sector counterparts, added demand for MBA grads can drive salaries up across the board.

Sources

Graduate Management Admissions Council
U.S. Bureau of Labor and Statistics
Jones, Del. (2007, January 18). New MBAs finding education pays off big time. USA Today.

About the Author

Jami J. Rodgers—who is currently pursuing MBA school admission—works in acquisition management for the federal sector in Washington, D.C Jami holds a B.S. in Spanish with a business option and an international studies minor from The Pennsylvania State University.

Posted on April 17, 2007 at 11:01 AM

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