As part of their annual Salary Survey, the National Association of Colleges and Employers recently analyzed which master’s degrees created the biggest increase in earnings for graduates, known as a differential. They found that in 2021, a master’s in biology creates the biggest differential, with graduates earning approximately 86.5% more after their advanced degree.
An MBA, however, earns someone 51% more than just a business undergraduate degree. So a person making a starting salary of $54,392 out of undergrad would boost their income to $82,372 with an MBA.
In contrast, NACE found that a master’s in social work led to a 36.7% increase in earnings, on average.
“If someone is earning a master’s degree solely for earning potential purposes, I would take a look at that particular career trajectory to understand if the payoff is there,” says Shawn VanDerziel, executive director at NACE. “And to understand if the differential and starting salary is worth it.”
IIM-A’s 2021 PGPX placements attract highest package of Rs 82 lakh a year
Despite the Covid-19 pandemic, the final placements at the Indian Institute of Management-Ahmedabad’s one-year MBA program for executives have attracted the largest domestic package of Rs 82 lakh per annum (lpa). This is a tad higher than last year’s top figure.
A lakh is 100,000 rupees, or about US$1,347 at current exchange rates. Eighty-two lakh is about US$110,000.
Known as the full-time Post Graduate Program in Management for Executives (PGPX) at IIM-A, the final placement process for the program’s fifteenth batch saw the highest domestic maximum earning potential (MEP) being offered at Rs 82 lakh, marginally up from Rs 81 lakh last year, according to the B-school’s audited placement report.
MEP is the sum of total guaranteed cash component, maximum possible-linked variable pay and all other components of salary that are a part of the offer which can include long-term compensation such as PF, gratuity and other perks as well. As against the highest domestic MEP of Rs 81 lakh, the average domestic MEP for IIM-A’s PGPX placements stood at Rs 30 lpa, down from Rs 33.3 lpa last year.
However, unlike in 2019, when the program attracted the highest international MEP of $109,666, no international offers have been made in 2020 or 2021.
Announcing the Whitman Challenge, an Experiential Learning Opportunity for MBA Online Students
Students learn best when they are able to apply their education directly to real-life projects and experiences. To further the school’s commitment to experiential learning, Syracuse University’s Whitman School of Management is creating the Whitman Challenge, which will be offered on a regular basis as part of the school’s online MBA residency programs.
In the challenge, online MBA students participate in three residencies of their choice during their program, often opting for specific experiences, or sessions on timely topics to further their career enhancement and specific skills.
Students are given a practical and current business issue that a company or organization is facing. Students work collaboratively with that company during the three-day residency period to further understand, analyze and develop an action plan to resolve the issue they are facing. This helps students hone their creative problem-solving skills, further their analysis techniques and refine their consulting abilities. It also exposes students to timely issues in different industries and contexts than their current employment situation.
Learn more by clicking here.