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
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.