“Should I stay or should I go?
If I go there will be trouble
And if I stay it will be double.”
– The Clash
That paradox weighs on most professionals considering an MBA. And it isn’t an easy call.
If you enroll full-time, you sacrifice two years of salary (and amass a six figure loan). Plus, you pull yourself off your career track, with only the hope to making it up on the backside.
It’s a big risk, no doubt. But it’s not as dicey as staying put. Just ask any middle manager without an MBA. Eventually, your trajectory plateaus. You’re pigeonholed into a role, marginalized even. You may be acclaimed for your loyalty…but your ultimate reward will be training your boss.
So think about this number: 75%. That’s the salary increase you can expect with an MBA if you enroll with 3-6 years of experience. To put it another way, you can more than double your existing salary within three years of graduation. And paying back those sizeable loans? For a top 15 school, it takes four years or less on average. Talk about a great return!
This month, the University of North Carolina’s Kenan-Flagler Business School released an infographic outlining the ROI of an MBA degree. Using data from sources like GMAC, Poets and Quants, Forbes, and Top MBA, Kenan-Flagler broke down salaries, income growth, tuitions, and debt paybacks for MBA programs as a whole – and the top 15 programs in general.
So if you’re still on the fence about staying or going, check out this infographic below. If you have any questions about your MBA, feel free to send a question to our columnists: Jon Fuller (Admissions), Ivan Kerbel (Career Strategy), and Andrew Geller (GMAT).
Don’t Miss: The MBA is now the Most Popular Master’s Degree
Brought to you by MBA@UNC: an online mba program
Source: Kenan-Flagler Business School