Reasons Why MBA Pay Rates are So High?

The money you earn may not be capable of buying satisfaction, but having a larger salary wouldn’t be unhappy is it? One of the most important goals for potential MBA students is earning more money. Fortunately, the responses of alumni indicate that their salaries after completing their MBAs aren’t disappointing. In general, 9 out of 10 MBA graduates agree that their MBA degree has enhanced their earning potential and nearly all consider the worth of their MBA as excellent to outstanding.

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The salaries of graduates from business schools are generally more than their peers

Additionally, The Graduate Management Admission Council’s (GMAC) annual Corporate Recruiters survey revealed that, out of over 700 global corporate recruiters, 3 out of 4 stated that employees with a graduate business school degree tend to be paid more than those in their workplace who don’t have. The recruiters of Fortune Global 500 companies were more likely to agree (85 percent) as are recruiters working in health-related (90 90 percent) and products/services (80 80 percent) and technology (78 percent) and consulting (77 percent) industries.

What is the reason MBA pay rates are so high?

What is it that makes MBA graduates the most valuable for companies? One reason is that MBAs can get to work and create a positive impression within a short time. In general, 9 out of 10 corporate recruiters affirm their confidence that graduate business schools can train students to succeed in their companies.

Remarkably, the majority of recruiters believe that they have a reason for their confidence in hiring students from business schools is because they possess a broad set of abilities (72 percent) They are also strategically-minded (71 percent) and have excellent communication abilities (69 percent).

MBA graduates’ broad range of skills makes them highly attractive to employers

The generalist, broad-based curriculum offered in MBA programs covers a broad range of subjects relevant to business leadership, ensuring that students understand basic concepts that will drive their professional growth for decades into the future.

“An MBA is an effective way to broaden your skillset very fast,” says Zaneta Motkowicz, the head of development and training for MBA and Master’s programs at the SDA Bocconi School of Management.

The vast knowledge MBA recruits can bring makes them a perfect candidate for leadership roles, particularly when managing teams from different functional areas.

A strategic mindset makes MBA employees apart from the process of hiring

The most popular subject MBA candidates believe is the most popular “must-have” in their ideal program is strategy, and it’s not without reason. Strategic thinking is an important ability that separates MBAs from other MBAs in hiring. Overall, 59 percent of corporate recruiters worldwide consider managing innovation and strategy as the topmost essential ability for MBA graduates to have to be able to fill current positions.

They must make strategic choices (not simply take and implement them). They’re also being challenged to think of new ways to solve issues.

As we look to the future, recruiters expect that the requirements of strategic thought will only rise. Sixty-two percent of respondents say managing innovation and strategy will increase demand over the coming five years, which is more than other surveyed skills. This is solid evidence that investing inability to think strategically right now will bring significant advantages to your career.

Skills in communication and other soft skills are the most critical differentiator

Communication is one of the things we do each day, yet most of us make mistakes in it. It’s good to know that communication skills can be learned, and business school is the best place to improve your communication skills. In an interview with full-time MBA graduates, 4 in 5 said that they believed the business school had a significant impact on improving their communication skills.

Most recruiters have identified interpersonal skills as crucial for their job opportunities, including communication and soft skills such as listening, social perception coordination, and negotiation. Notably, as the business world is becoming increasingly digitally oriented, managers’ importance of human interaction and understanding will rise dramatically. Overall, 57 percent of hiring managers believe that interpersonal skills will increase volume over the next five years.

Find your best-fit MBA program

So, you’re all set to invest in your future by obtaining an MBA. The question is: will your investment be worth it?