New York, N.Y. -- With the average salary of business school graduates now topping $82,000, and some elite schools boasting average graduate salaries well into the $100k+ range, it may seem that getting a Master’s Degree in Business Administration is the ticket to financial security. But does having an MBA really impact your success in the business world? According to a survey conducted by TheLadders.com, a $100,000+ job website, 57 percent of executives said the degree is valuable, but not essential.
A total of 1,521 executives in the $100k+ job market responded to the survey, which asked: How would you rate the value of an MBA in your business? While the 57 percent majority characterized a business school diploma as “a nice addition, but not necessary,” 26 percent said it was “very important” to have the degree. Only 17 percent said it was altogether “unimportant” to have an MBA in the current business climate.
“An MBA can be a fantastic credential for executives; it’s not just a diploma, it’s an entire network of shared experiences and overcome challenges,” says TheLadders.com Founder and President, Marc Cenedella. “But no degree can guarantee success ‘in the arena’. It’s important for executives to focus on how an MBA enables job success, not just cocktail party bragging rights. A diploma on the office wall doesn’t mean you’ll reach the penthouse.”
The survey of registered $100k+ executives was conducted on TheLadders.com Web site from February 16, 2005 through February 24, 2005. The margin of error is ±2.6 percent.