MBA programs aren’t what they used to be. Today’s MBA program comes in more shapes and sizes, including more areas of concentration, classroom formats – including online access and abbreviated and elongated options, and they aren’t just for those with sights set on the executive office. Industries like banking, marketing, and finance all but require MBAs for some of their positions.
But one thing has remained consistent, and that is that people with MBAs statistically will earn more throughout their lifetimes than those who don’t.
In addition to earning more, business professionals who hold an MBA typically have a few other traits in common.
1. MBAs are entrepreneurial
The founders of Nike, Yelp, SiriusXM, Rent the Runway, and Stitch Fix (to name a few) all hold their MBA degrees.
2. MBA graduates are happier
3. MBAs are good for the community
MBA students and graduates tend to be a very giving population. Whether it’s logging volunteer hours through their MBA program, consulting to Big Four accounting firms, or donating their time to local charities and soup kitchens, MBAs take their talent and give it back to the community.
4. MBAs have better personal brands
By association, MBAs are positively branded by the schools they graduate from. Rightly or wrongly, people make assumptions about MBA graduates, including that they are smarter and more equipped for business, and that they are representative of the values and integrity of the schools they graduate from. Their personal brand is fostered – incubated, even – throughout an MBA program and their personal brands are stronger for it.
5. 34 MBAs hold prominent political positions
6. The average starting salary of an MBA graduate is $150,000/year
MBA degree holders earn more throughout their lifetime than those who do not – and their earning potential only continues to increase. In fact, according to Financial Times, at the start of the year the average salary was up 12 percent from just four years ago.
7. MBAs are more willing to try something new
MBA programs nurture new ideas. To do something no one else has done, you first have to think like no one else has. MBA programs help get people in an entrepreneurial mindset to solve problems, differently.
8. 29% of the top 100 best-performing CEOs have their MBAs
9. 40% of Fortune 500 CEOs have an MBA
MBA programs come in all shapes and sizes, including abbreviated 12-18-month curricula as well as part-time. A part-time format makes it possible to work full-time while completing the degree. MBA degrees are also available online and in hybrid (online and face-to-face) format.
10. MBAs are wordly
The premise of an MBA degree is to give people a universal set of business principles. Furthermore, the goal is to have students immediately apply what they learn at work. The curriculum is designed to give graduates a 30,000-foot view. Students are challenged mentality to think globally about solutions.
11. MBAs are inspiring change – and getting more political
More MBA graduates are entering government or taking nonprofit positions today than ever before. This includes running for elected office, joining the government or public sector in meaningful management roles, and launching (or leading existing) civic companies.