What’s the cost of an MBA program?
According to experian.com, the average cost of tuition for a two-year MBA graduate degree is $66,300. That might sound like a steep price to pay, but tuition costs vary based on the school, whether the program is in-person or online, and several other factors. You can reduce the total cost of your education by making use of the flexibility of an MBA. Programs are not as demanding as undergraduate programs and therefore give you time to work at a full-time job if you desire.
How much do MBA graduates make?
According to a survey by GMAC, new hires with MBAs can earn a median base salary of $115,000 compared to $65,000 for those with only a bachelor’s degree. The premium you gain from an increased salary will reimburse you for your investment in no time.
However, is the MBA alone why graduates earn higher salaries? There’s an argument that people with leadership qualities will end up in the same positions and make the same amount of money even without an MBA. Although both trains of thought are valid, an MBA can fast-track you to places that may take you years of work to obtain.
