Your Passport to Change

Considering going on for your Master's Degree in business administration? Probably a good decision if you plan on going far in the business world. According to ABC News, fifty percent of the graduates from top business schools that obtain an MBA get a job. Better yet, they are able to obtain a better job at higher pay - 10-12% higher that those applying for the same position without an MBA.

Considering going on for your Master’s Degree in business administration? Probably a good decision if you plan on going far in the business world. According to ABC News, fifty percent of the graduates from top business schools that obtain an MBA get a job. Better yet, they are able to obtain a better job at higher pay - 10-12% higher that those applying for the same position without an MBA.

The overall career outlook for the average business education graduate is high. Many graduates use an MBA to make a significant career switch - roughly 45% - moving from non-profit, manufacturing and technology fields to the world of business. The real life experience that an MBA provides is geared towards sending the grads into the field - immediately prepared to get down to business. Different than your typical undergrad “first jobs” paying between $30,000 and $ 45,000 to start, an MBA can expect from $61,000 to $85,000. Combined with a specific undergrad degree, an MBA could be your passport to a highly secure niche position.

Investing in your MBA

Does it make sense to invest $100,000 in a Top Business School? Whether you choose an on-line MBA program or one that is taught full time or one which is conducted at night or during weekends, it will pay for itself in a little under five years. You have the rest of your life to put away the additional earnings. Where else can you make that type of ROI - return on investment? Earning double your starting undergrad salary on the low side, and triple that salary on the high side, the small investment in the loan and the quick re-pay time will work in your financial favor.

Loans for your MBA come in both Stafford and Private Loan Types. The government backed Stafford loans can be applied to tuition only expenses, while private loans offered at the same low rates, can be used for living expenses and other miscellany required for completing your program.

Posted on May 12, 2006 at 5:35 PM

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