A Masters of Business Administration degree makes it much easier for an individual to earn a sought-after career in finance – and it also makes it more likely that an individual will earn themselves a high salary.
The 2013 employment report from the Kellogg School of Management at Northwestern University was recently released, and it illustrates how some MBA graduates are able to earn high six-figure salaries immediately following their graduation. One individual from the class of 2013, hired for an investment managing job, is currently being paid $375,000.
Also from the class of 2013: one individual working a corporate finance job was hired for a $130,000 salary, another was hired in general finance for $155,000, and another in investment banking for $163,000. The median salary earned by the individuals who went into corporate finance was $110,000, according to the report. The median salary for investment banking was $100,000 and the median salary for general finance was recorded at $115,000.
These figures clearly illustrate how an MBA education can not only help an individual to compete for coveted investment banking jobs and other finance careers, but give them an opportunity to earn a six-figure salary immediately following graduation. Roughly 18 percent of the graduating MBA holders from the class of 2013 accepted careers in finance, while three percent took jobs in business development.
MBA holders aim to improve the finance industry
Getting an MBA degree does more than just enable an individual to command a large salary at a major firm. One recent report illustrates the way that these educations can help to improve the finance industry at large.
Carolyn Gonglefski, events and communications director at Access MBA, recently published a report at Business Because that noted that more than 60 percent of prospective MBA students believe that business schools have a significant responsibility in regards to the current economic climate and crisis. These respondents suggested that business schools have an overwhelming need to develop ethical management practices that will help to improve the standards of the individuals working within the industry.
Gonglefski also reported that 19 out of every 20 respondents said that they feel they are more ready to respond to future economic recessions and encountering questionable management practices as a result of their educations, suggesting that MBA programs can help the industry to foster high-minded future employees.