Interested in making an investment in your future that will lift your leadership prospects and earnings potential? Would you like an academic foundation in business and management that you can apply across all sectors?
The University of Houston-Victoria’s Global Master of Business Administration (MBA) with a Concentration in General Business online program can help you achieve these goals. Research shows that MBA graduates and employers agree.
The Statistical Case for Investing in an MBA
Among 2018 MBA graduates, according to the Association of MBAs (AMBA), 94% see themselves in senior management in the next few years, with more than a fifth running their own organization. More than three-quarters of MBAs surveyed predict they will earn 20% more in the next three years, and nearly half anticipate at least a 50% salary bump within the same timeframe. Not surprisingly, 48% believe they likely will change sectors in the next year, the most popular transitions being to consultancy (19%), banking and financial services (8%) and IT (6%).
As of July 2020, the Graduate Management Admission Council (GMAC) found that 41% of MBA candidates choose the degree to enhance their current career path, 27% are eying fresh industries and 36% want to pursue new job functions. Managing people (42%) and projects (40%) are MBA grads’ top career goals.
These expectations are realistic. The GMAC reports that after the pandemic year, 89% of companies expect to hire MBAs in 2021, up from 77% in 2020. That soundly beats Master of Management (54% of companies), Master of Accounting (56%) and Master of Data Analytics (63%). GMAC also says 86% of employers believe that hiring recent business school graduates creates value for their companies.
The projected median base salary is $115,000 for MBA new-hire graduates and $85,000 (data analytics) or less for the other degrees. In the largest industries for MBA hires, MBA graduates earn $145,000 to start in consulting, $115,000 in finance and $115,000 in technology.
Change Is Accelerating
Driven by competition, technology and increasing demand, industries continue to evolve. The pace of change can easily make a degree obsolete (and a poor investment) if it’s not designed for a flexible marketplace. Unlike specialized degrees for a particular discipline, the general MBA provides training in management philosophies spanning multiple industries. Today’s business executives will supervise and work in cross-disciplinary teams, making this knowledge even more important.
That ability is also why so many organizations hire MBA talent for their development programs. MBA graduates bring hard technical skills in finance, accounting and operations. They bring soft skills in communications, decision-making, problem-solving teamwork and individual empowerment.
Accelerated and Online
With rising costs of living, few working professionals can afford to leave their jobs and family obligations for an on-campus, full-time college degree. However, you can earn an AASCB-accredited, MBA online in 16 months from the University of Houston-Victoria.
To improve your career prospects and resistance to the volatility of any one industry, an MBA just might open all the doors.
Learn more about the University of Houston-Victoria’s online MBA with a concentration in General Business program.
U.S. News & World Report: How Having an MBA Affects Your Career Prospects
PrincetonReview: Improve Your Career Prospects with an MBA Degree
MBA.com: An MBA Opens Doors to a Variety of Careers
Graduate Management Admissions Council: Infographic: The Impact of COVID-19 on Hiring of Business School Graduates: Corporate Recruiters Survey 2020
BusinessBecause: MBA Degree Pays Off with Higher Salaries & Promotions, Say Graduates