Earning an MBA can significantly boost your earning potential. According to a 2020 survey by the Graduate Management Admission Council (GMAC), the median base salary for recent MBA graduates in the United States was $115,000, compared to $85,000 for those holding only a bachelor’s degree.
However, the impact an MBA has on salary can depend on several factors, including the industry, location, and job function. Besides salary increment or promotion, an MBA can help you develop valuable skills and knowledge that can be applied to a variety of industries and roles, making you a more desirable candidate for high-paying positions. But it’s worth noting that an MBA program can be expensive, and you should carefully consider the potential return on investment before committing to one.