The study reports, the median business administration salary for individuals working as financial analysts with a bachelor’s degree was $74,760/year and financial analysts with a MBA or a graduate degree in a related field earned a median salary of $109,983 per year. The median MBA salary was nearly 47% more than the median bachelor’s degree salary! Tax preparers with a master’s degree reported earning 42% more per year in median wages than those with a bachelor’s degree. Financial managers with a master’s degree reported a median salary 41% higher than financial managers with a bachelor’s degree. Finally, market and survey researchers with a master’s degree earned median salaries almost 34% more than those with a bachelor’s degree.
The difference between median business administration salaries and median MBA salary levels reported in the Bureau of Labor Statistics study indicate that there may be a strong correlation between earning a graduate degree and potentially increasing your earnings potential. While there are other factors that affect an individuals earning potential such as experience, location, and expertise; a master’s degree in business administration might be one way to improve your skills and help advance your career.