The MBA is the most popular graduate management degree in the world—and for good reason. According to a 2022 report by the Graduate Management Admission Council, 86% of graduates holding a Master of Business Administration were employed by the time of graduation.
Many students pursue this degree to switch industries, catapult their careers, or open doors to a variety of business opportunities, from entrepreneurship to management. However, it can be one of the most expensive graduate degrees to earn, with some students paying up to $200,000 in total.
So, the burning question for you may be: Is it worth the investment?
Like any graduate degree, analyzing the costs and benefits is an important business decision by itself. Let’s break down what an MBA can truly offer and help you make an informed decision.
The first step in determining an MBA’s worth is to analyze the cost. For a full-time, two-year MBA program, expect to pay:
Given the significant financial commitment, it’s important to weigh your options carefully. At The University of Texas Permian Basin, our students come first, and we’ve made every effort to keep programs affordable while offering a top-notch education.
UTPB is ranked one of the top business schools in the nation and is accredited by the Association to Advance Collegiate Schools of Business. Our accelerated MBA program costs less than $15,000 and can be completed in just a year. Classes are entirely online and asynchronous, meaning you can complete your courses from anywhere in the world with no extra living expenses or the hassle of a set schedule.
Your next question may be: What about student loans? On average, MBA students owe between $28,000 and $100,000 after graduation. With the increasing demand for MBA programs, securing financial aid can sometimes be a competitive process.have its challenges..
At UT Permian Basin, our online programs don’t require you to be on campus and don’t charge out-of-state tuition rates, meaning you won’t have to make that move or even leave your house. Most students who attend our online MBA program take out a median of $16,779 in loans to complete their studies: far less than the national average. (Visit our respective financial aid and scholarships pages to learn more.)
MBA graduates make about twice as much as other graduate degree holders. According to a 2022 GMAC Report, full-time MBA students see their median salary increase 50% from pre-MBA to post-graduation—from $80,000 to $120,000 a year.
The sector you choose to work in also plays a role in your overall salary potential. If you pursue a career in consulting, you may make around $147,200 yearly, while government employees make around $87,700 yearly.
According to 2023 Lightcast data, financial analysts are in highest demand in the business sector, followed by operations managers and product managers. Business development managers and marketing managers are also among the top-10 in-demand positions.
To give you a better idea of annual salary potential in these roles, here is a list of some top occupations for an MBA graduate:
As you can see, earning an MBA has considerable, long-term payoff. What if you can do all of this without risking your financial resources and work-life balance—from the comfort of your home?
UTPB offers the flexibility and convenience of online learning with the prestige of a top-ranked business school. According to 2023 data from SeekUT, students who graduate from our MBA program enjoy a starting median salary of around $77,000, which exponentially increases about 20% for every two years of employment.
Many prospective MBA students want to grow their skills in areas of interest in which they lack experience. For example, if you have a strong grasp on finances but need marketing skills to climb the corporate ladder, you may want to hone your skills in the weaker area. Our online MBA allows you to choose specializations in Accounting, Finance, and Marketing or add an Energy Certificate to your degree.
Ready to make an invaluable, life-changing investment? Join our successful students at UTPB’s College of Business. We accept applications year-round, so whenever you’re ready, apply here!
Sources:
https://seekut.utsystem.edu
https://lightcast.io
https://educationdata.org
https://www.usnews.com/education/best-graduate-schools/top-business-schools/articles/what-an-mba-degree-is-and-what-you-need-to-know
https://www.investopedia.com/terms/m/mba.asp
https://www.mba.com/explore-programs/choose-and-compare-programs/what-is-an-mba
https://www.forbes.com/advisor/education/mba-cost
https://www.usnews.com/education/best-graduate-schools/top-business-schools/applying/slideshows/10-best-public-b-schools-for-a-full-time-mba
https://www.usnews.com/education/best-graduate-schools/top-business-schools/articles/how-an-mba-can-lead-to-career-change
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