Unsteady markets, globalization and an increasing number of people earning university degrees have forever changed the employment landscape. While at one time a good work ethic and a degree practically ensured job seekers solid employment, it has become increasingly difficult to find fulfilling and remunerative work.
So how do you make yourself more attractive to a potential employer? While there are no guarantees, a Master of Business Administration from an online MBA program like the University of West Florida’s is a good option for those looking to further develop their skill sets to rise above other job seekers.
Powerful Earning Potential
Does getting a top-notch education really pay off? Postgraduate degrees are a promising way to advance a career, despite an increasingly competitive job market and stagnant salaries in many fields. Online MBA programs continue to stand out as the best return on your educational investment.
MBA salaries are clearly higher compared to the earnings of non-MBA holders. This holds true for starting salaries as well as annual increases in starting salaries, which can be an important metric in an era of high levels of inflation. According to the National Association of Colleges and Employers’ Winter 2023 Salary Survey, starting salaries for business bachelor’s degree grads are projected to rise just 2.3% compared to 2022. The same survey found that starting salaries for business master’s degree grads are projected to rise an impressive 13.1%.
Further, a 2022 survey of recruiters and staffing firms from the Graduate Management Admission Council (GMAC) found that MBA graduates in the U.S. can expect a median starting salary of $115,000, as compared to $75,000 for new bachelor’s degree grads. This represents a forty-thousand-dollar wage premium for newly minted MBA grads versus new bachelor’s grads.
Promising Employment Prospects
MBA salaries, however, are only one part of the equation of a successful career. MBA graduates can also look forward to encouraging employment numbers. The 2022 GMAC survey shows that MBA grads are experiencing an upward hiring trend, overall. The report, which gathered data from 941 recruiters and staffing firms in 38 countries around the world, found that 92% of corporate recruiters worldwide expected to hire new MBA graduates in the following year. Specifically, in the U.S., the study found that 94% of companies aim to hire MBA graduates.
An Educational Edge
Whether you are a young graduate with a bachelor’s degree looking to expand your knowledge base or a seasoned professional hoping to move into a more rewarding leadership position at a company, an online MBA program is a worthwhile option. And, of course, earning a degree from a fully accredited MBA program shows prospective employers you have the rigorous training and well-honed skills you’ll need to be successful on the job.
For those with demanding jobs or family commitments, an online MBA program, like the one available at the University of West Florida, offers welcome educational flexibility.
Learn more about UWF’s online MBA programs.