offer you the degree and value you need. (See the link for Busi- ness Week, below, which is one of several organizations that rank MBA programs.)


MBA Costs -- and Returns According to one salary guide, an MBA is worth about $10-


30,000 a year over a bachelor’s degree, but the salary increase you could see may be much less -- or much more. Factors that can af- fect your salary include:


„ whether you stay with your current employer or seek a job with a new employer.


„ the amount of relevant experience you have for the job you are seeking.


„ the reputation of the graduate school you attended.


„ the type of job you are seeking -- and the level of supply/de- mand for workers.


„ the industries where you are seeking a job. „ the location of the jobs you are seeking.


But don’t forget to factor in the costs as well, with the average


cost of graduate study leading to an MBA at about $40,000. Tu- ition and expenses add up to about $54,000 per nine-month aca- demic year (resulting in an investment of more than $100,000 for the full-time two-year MBA) at Wake Forest University, one of the premier MBA programs. You’ll find tuition closer to $12,000 at lesser known programs with generic MBA degrees.


What an MBA Can Do for Your Career If you’re looking for the MBA to help you get into the execu-


tive suite, it may be just the ticket you need. According to a study by Accountemps, a global temporary staffing service for account- ing and finance professionals, 80 percent of executives responding to the survey said that a graduate degree in business is still impor- tant to reach senior management ranks within most companies. And there is growing evidence that having an MBA not only


gives you more leverage in dictating new job titles and salary, but also gives you leverage in achieving a better balance between work (read: fewer hours working) and life outside work.


Final Words of Wisdom Whatever you do, don’t jump into an MBA program without


doing all the necessary research and introspection. And once you have made the firm decision to attend a graduate business pro- gram, make sure you read one of our other articles: Criteria for Choosing a Graduate Program.


Copyright by Quintessential Careers. The original article can be found at: http://www. quintcareers.com/MBA_degree.html. Reprinted with permission.


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