An MBA from DU is worth it
What the MBA is worth
The MBA - Master of Business Administration - is a popular but also an expensive degree. It is not uncommon for participants to pay a five-digit amount for their studies. Is the financial investment worth it? Do graduates with the three letters actually get more salary after graduation?
If you believe various studies, MBA graduates are obviously putting themselves in the nest: According to a recent study by the Graduate Management Admission Council (GMAC), salary increases of more than 30,000 US dollars are completely normal after a successful full-time MBA degree. The MBA trade fair organizer QS TopMBA speaks of an average income of over 90,250 US dollars. That sounds tempting at first.
But such numbers should be treated with caution. On the one hand, the salary opportunities in different industries are different. Consulting companies and financial service providers generally pay their employees more than industrial and technology companies, not to mention trading or service companies. There are also significant differences in wages depending on the size of the company. On the other hand, when looking at the statistics, you have to consider the starting salary with which the MBA graduates entered the negotiations after graduation: For example, a lawyer who already earned well before the MBA will probably make a much smaller salary jump than a humanities scholar The international degree opens up completely new opportunities. In addition, the increase will certainly be higher in percentage terms for a younger employee than for an experienced colleague who had a few salary increases behind him before the MBA.
What is certain is that an MBA facilitates access to certain management positions. There is no guarantee that this will always result in a higher salary. The average values published by the business schools - also for image purposes, of course - can therefore only provide guidelines. There are known cases in which statisticians simply drop graduates who did not find a job immediately after graduating from the statistics. Even if the arithmetic mean and not the median is chosen when calculating the average salary, it quickly drives the salary figures upwards: With a few exceptionally high salaries as "outliers", the numbers look much better with the help of this mathematical trick. Ultimately, it always depends on your own negotiating skills in the salary interview.
In any case, not only the qualification itself is important for the salary negotiation, but also the school at which it was obtained. Renowned business schools such as Insead or the London Business School have a higher "market value" than smaller, unknown schools. In America, among others, Harvard and Wharton schools have an excellent reputation - but they are also well paid for. In the meantime, German business schools have also caught up and can keep up with their competitors from abroad. They have the advantage that you save yourself the often expensive life in cities like London, Paris, New York or Tokyo. But here, too, you should pay attention to quality, including in the form of official accreditation. In the next interview at the latest, it will pay off to have chosen a better - and therefore usually more expensive - MBA program than a cheap one that is completely unknown to companies as potential employers.
So the commitment will not pay off for everyone who is aiming for an MBA. Anyone who has to take out a loan to pay the tuition fees of 50,000 euros and more should think twice. With full-time studies, there are also two unpaid years of study that you have to bridge financially. You are lucky if you get the MBA financed through your employer. On the one hand, he does not sit on a mountain of debts after graduation; on the other hand, the company often offers him a lucrative position after graduation. But the same applies here: There is no automatic MBA bonus.
By Sabine Olschner
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