Will I Earn More Money With an Online MBA?

Today’s business climate is a place of increasing competitiveness. Coupled with technological advances and shaky markets, it has become clear that a bachelor’s degree in business isn’t what it used to be. Employers are searching for people with a firm understanding of e-commerce and trade—and the credentials to back it up.  For professionals looking to improve their skills and move up in the workplace, an online MBA degree may be the perfect solution.

According to a 2017 Burning Glass report, a person with a B.A. in business earns an average of $74,000 a year depending on their geographic location and industry. A person with an MBA in the same location and industry can earn on average $82,000. So, while an online MBA program helps professionals improve their position in the workplace by strengthening their business skills, they can also expect to strengthen their bank accounts as well.

 

"While a person with a B.A. in Business earns an average of $74,000, a person with an MBA in the same location can earn on average $82,000"

 

Salary isn’t the only positive aspect of earning an online MBA; furthering your business education has the potential to change your playing field all together. WGU grad Tyler Howell turned a job in the trucking industry, into a career path that will open the door to him owning his own business one day.

In his early 20’s Tyler Howell started working at a small family-own business, as a trucking coordinator, as he put himself through college. Through hard work, he quickly moved up in the company and became safety compliance manager. Though he had earned his bachelor’s degree from a brick and mortar school and had a stable job, Tyler found himself looking for more. That is when he decided to earn his MBA from WGU. WGU’s online format fit his busy schedule, and his drive along with WGU’s unique competency-based model put him on track to complete his MBA in a year. During that time the owner of the company where he’d been working for almost ten years approached him. The owner had been thinking about retirement, and was looking for someone to take over the company. He knew Tyler was working on his MBA, was motivated, and had enough experience and education to run his own business.

Upon graduating with his MBA, Tyler and his boss had worked out a contract where over a period of time, all of the company shares would be transferred to him, making him the owner of a successful trucking business. Earning his MBA helped Tyler stand out among his colleagues, coupled with the tools he learned in business school and his own determination, Tyler’s future looks bright and prosperous.

The worth of a masters degree is far reaching, earning your Master’s degree from an online university can also promote:

 

Staying power.

By showing an active interest in your work, you are also showing your boss that you care about doing well. Earning an online MBA in your spare time demonstrates your commitment to your future, and your employer isn’t likely to let you get away.

Bargaining chips.

Is your yearly review coming up? Are you expecting the typical 5 percent raise? While there are no guarantees, a post-secondary degree at the masters level is a powerful bargaining tool. By increasing your knowledge with an online MBA, you have more room to ask for a pay increase as well.

Higher minimums.

Never again will you enter a job interview hoping to earn the bare minimum; an online MBA will position you to ask for a higher salary right away. Companies tend to look at what competitor salaries are for candidates with MBA expertise when setting their own salary rates. Earning an online MBA allows you to be a part of a pool of well-paid professionals.

Business perks.

Higher education means higher expectations, and by extension, bigger rewards. Companies often offer their high-level employees generous bonus packages and a stock portfolio. By helping shape a business, you will likely get a bigger piece of the pie.

Company morale.

Employers like employees that make their company look good. What better way than to have an MBA under their corporate umbrella? Don’t underestimate the impact your online degree can have on your employer’s credibility in the market. They will benefit from your expertise as much as you will.

 

Attending an online university to earn your MBA is both convenient and advantageous. If you are looking to excel in your career and pad your bank account, an online MBA could be a smart solution for you. 

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