The world of business offers many opportunities for any hardworking individual. Anyone who wants to be part of this world will do well to earn a bachelor’s degree in any of the business courses. Examples are management, marketing, and many others. But a bachelor’s degree is only an entry-level degree. If you want to advance in the corporate world, you will need more than just your bachelor’s degree. You will need an MBA.

An MBA is a graduate degree in business administration. It is a popular master’s degree that many people take all over the world in order to experience career advancement. With career advancement comes salary increase, of course. How an MBA can increase your salary is a subject that reliable companies have analyzed. For instance, BusinessWeek is one company that ranks all business schools in the United States. Aside from ranking the best, BusinessWeek also gives information on how an MBA can increase your salary.

According to their data, an MBA can increase your salary by around 1/3 to even half the amount. The increase depends on which school you earn your MBA, of course. For instance, the best business school in the US, according to BusinessWeek is the University of Chicago. The average salary of students before they earn their MBA in this school is $78,000. After earning their MBA, their average salary increases to $105,000 a year. An MBA increased their salary by $27,000 a year. That is a huge sum of money.

A MBA student at Harvard before graduation earns an average of $77,000 a year. His MBA will give an average of $121,000 a year. That’s an increase of $44,000 a year.  With these figures, you already know that an MBA is one of the best ways to earn a bigger salary and climb the corporate ladder in whatever industry you’re in.

“Source: BusinessWeek”