How Much Will an Online MBA Increase My Salary?

Students often pursue academic education as a means of increasing their salary. The general notion is that an increase in education will yield an exponential increase in salary, but is this always the case? The general belief is that an online MBA will indeed increase an average salary rate, but the level of salary increase that graduates will experience is debatable.

What Factors Alter Average Salary Rates for Online MBA Graduates?

There are several factors that skew just how much graduates will receive on average upon graduation. The most prominent of these factors is experience. Many employers in today’s economic climate are hiring employees based on what they’re able to immediately offer upfront in terms of their skills. This is because many employers are not in a position to hinder productivity through losses in employee training and teaching procedures. Doing so could be at a detrimental loss to profitability, so it is generally accepted that more experienced employees are in current demand over comparable levels of higher education.

This means that students should be in a position to consider internships as a part of their academic formation. Internships can provide students with the necessary professional contacts to pursue upon graduation. An internship also serves as a controlled environment for employers to “test drive” prospective employees in terms of their worth to a company. It is a student’s time to shine in an internship!

Another factor that alters the average salary rate for online MBA graduates is the sector that they are employed in. According to PayScale.com, professionals in elite levels of the finance sector are known to receive over double the salary of those who work in the human resources sector. Base salary rate changes of over $92,000 aren’t uncommon when comparing the two sectors!

The student’s school is also a deciding factor in determining an average salary rate. Schools with poorer reputations, such as the University of Phoenix, are known to reward students with a lower annual salary when compared to schools of better repute, which includes DeVry Institute. Average starting salary rates can change by at least $6,000 by simply changing schools!

What can I do to Get the Most Out of My Online MBA Program?

Students should research the options that are available to them in aims of ensuring they will be in the most competitive position to secure a well-paid salary. Even the simplest of adjustments can reward the graduate with considerable returns!

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