Earning an MBA is one way a person may be able to potentially increase their business administration salary. However, many people may question the value of earning an MBA when they are already experiencing a degree of success in their current professional career. Data from the study, "Job Outlook by Education 2006-2016,” released by the Bureau of Labor Statistics indicates there may be a connection between earning a master’s degree in business administration from an MBA program and potentially increasing your chances of earning a higher salary. The study highlights several areas of business where the average MBA salary may be significantly higher than the bachelors of business administration degree salary. This may be particularly true of the MBA salaries of individuals working in the fields of finance, tax preparation, and market survey research. Learn more about the different types of careers MBA graduates may pursue.

Potential MBA Salary Premiums

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.

Business Administration Degree vs. MBA Salaries

BBA vs. MBA

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.

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