Master’s degree in Business Administration (MBA) as discussed in previous posts, still remains valid and very important. Graduates with an MBA degree are classified as savvy people due to what the program taught them and how well read and versatile they are. Having an MBA degree cannot be overemphasized because employer of labour knows how valuable the degree holders are.
The Return of Investment (ROI) on any business need be known before anything. PhD holders think of this, master’s degree holder think the same, businessmen also think of this and likewise every meaningful person. The ROI on MBA should and must be known before deciding whether to go for it or not.
The average tuition at a U.S. business school is $130,000 which is almost equivalent to fifty million naira (#50,000,000) in Nigeria currency. While the ROI for MBA differs from people to people, it is safe to know, money/salary tops the list. As much as some remain bent on having a high return in salary, others just want better networking opportunities as their return.
Let’s take some schools as an example. The sampling below talks about the salary before and after MBA as gathered from Princeton Review.
Stanford Business School was the first school with an average salary for MBA graduates at $125,000 and the tuition at $119,000. The ROI after 10 years was estimated to be 325 percent.
On second is Harvard Business School with an average salary of $125,000 and the tuition at $122,000. The ROI after 10 years is 320 percent.
All these sampling and calculations show exactly why business students decide to get an MBA degree.
While some look out for the monetary benefits, others stick to professional benefits as their ROI. One good reward of the MBA degree and experience is the type of network you build. While you keep in touch with your classmates, you should also extend this relationship to your lecturers, business leaders you encounter and your professors. Yes, the perks are good but the network is even better. Check for networking opportunities while researching the school you want to apply to. You can as well mail admission representative on how good their professional networking is.
Some group of graduates were asked what caused a sudden rise in their respective careers and their replies were because of the networks they had and knew. They also said that networking is not about you getting helped all the time. You have to show yourself useful and helpful too. This is the only way to have a meaningful network.
Your ROI is very much dependent on your choice, whether it is career advancement or salary, anyone that satisfies your desire. It is worthy to know that business school programs have been rightly placed to culture you, increase your knowledge, build your confidence, and help your leadership skills. All these are what ensure your ROI is massive.
EXEED School of Business and Finance, an institution of higher education, offers a truly value for money MBA program in partnership with UCAM Europe. Our students reported an increase of salary by 2 times post completion of the program.