An Mba Degree--why Its Worth Your Time And Easier Than Ever

For many working adults, the idea of pursuing an MBA degree program seems unrealistic. Giving up a job to go to school full-time while still getting the kids to soccer practice can seem prohibitive. However, the growing prevalence and acceptance of online degrees is helping non-traditional students to attain the education that they want so they can reach their career goals.

Career Education Options

According to the National Center for Education Statistics (NCES), 46% of employed persons age 17 and older participated in some kind of career-related adult education. The NCES also found that a large majority of students who took distance-learning courses during the 1999-2000 academic year either preferred them to traditional campus-based courses or found them equally satisfying.

Many distance-learning or part-time MBA students remain in their jobs not just to keep a steady income while they are in school, but to benefit from employer-sponsored tuition assistance programs. Some employers offer to pay for a portion of tuition, while others cover the entire cost. The catch can be a commitment to continue working for your employer for a specified number of years. Make sure you do your research before signing on.

The Value of Experience

Generally, most MBA programs prefer students with some professional experience over those who have none. The Graduate Management Admission Council® (GMAC) says that a history of full-time work is what matters most to MBA admissions counselors.

Additionally, MBA hopefuls can often use their work record to qualify for credits toward an MBA program. This process may vary from school to school, and it may also be influenced by the type of MBA you pursue. The admissions counselor of your prospective MBA program should be able to provide you with details on how this works.

MBA Degree Return on Investment

Each year more students graduate with an MBA degree than almost any other graduate degree. According to WetFeet, a recruitment consulting group, the average starting salaries of MBA graduates of the top 30 business schools was $95,781 in 2006, which doesn't include average signing bonuses of $17,511.

And it isn't just schools in the top 30 that provide a generous return on investment. Forbes magazine reported in 2003 that the average salary for a University of Iowa MBA graduate was $93,000 five years out from graduation. MBA graduate salaries vary from region to region; according to PayScale, the median salary for MBA graduates in Texas is $70,000 while in California, they fetch $85,000.

The NCES data show that full-time male workers age 25 and older with a master's degree earned on average $14,138 more a year than those with a bachelor's degree; women increase their wages by an average of $8,836 per year with a master's degree.

Even with all these benefits, MBA degrees still require hard work and a fair amount of personal sacrifice. But the rewards seem to be significant enough to motivate hundreds of thousands of students who graduate with an MBA degree each year. Perhaps, it'll be the right educational move for you.