Most experts agree: getting an education is making an investment in yourself. Students who are considering earning their master’s in business administration online should also consider the MBA’s return on investment, or the MBA ROI. If you’re thinking about getting an MBA online, you’ll want to make sure that the institution you choose will equip you to get the highest possible return on your investment. Here are three ways that an MBA can yield a high ROI:
- Obtaining an MBA will enable you to earn a higher annual salary and increase your wealth significantly throughout your career.
Recent data from U.S. News and World Report shows that MBA graduates from accredited programs are likely to significantly increase their salaries within the first year of employment following graduate school. The study considered MBA students who graduated between the years of 2011 and 2016. These graduates’ average starting salary and bonus structure increased by 12.9 percent in the first year after graduation. As this is twice the rate of inflation, those considering an MBA can safely assume that they’ll be able to manage their debt after graduation while still earning additional income.
- Working toward an MBA allows students to network with industry professionals and form friendships with other business students.
Most MBA students are aware of the higher salary and senior-level positions that they can acquire after graduation. Yet there are other, intangible benefits offered by an MBA, as well. According to Forbes, MBA students have opportunities to network with business professionals, as well as to form lasting relationships with other students. These relationships are not only personally satisfying; they can also open doors to new opportunities within the business world.
- With a new set of skills and specializations, MBA students feel more confident and satisfied in their professional lives.
As an online MBA student, you’ll choose a specialization that will allow you to focus on a niche sector of the business industry. For example, Spring Arbor University’s online MBA offers specializations in healthcare administration, human resource development, management, organizational consulting and strategic leadership. In the specialization of your choice, you’ll develop skills that will catapult your career to the next level.
For further reading, check out this blog post: Top Five Books for MBA Majors and Graduates