Studying MBA In USA, Is It Really A Good Idea?
- June 6, 2019
- Posted by: administrator
- Category: USA university scholarship
According to the IPADE Business School, the average salary of a recent graduate of an MBA is $65,000 if you studied MBA in USA. However, consider the opportunity cost if you study a full-time MBA because while you study you must put a break in your professional career and you will not receive a salary.The ideal would be to obtain USA university scholarships that pay the full cost of the master’s degree; however, the reality is that a very few are within reach of this option and most must pay the charges on their own.
It is also important to mention that studying an MBA in the United States can be a gateway to work in this country, where the average salaries for MBAs are $ 8,500 per month or $170,000. However, the protectionist policies of the United States make it very difficult to obtain work visas; Also, the number of companies that hire foreign MBAs is getting smaller. These trends could increase in the coming years with the arrival of Donald Trump.
Paying 46% of your salary for an MBA in the United States may seem very high. However, the income difference of someone who studies an MBA and someone who does not is usually bigger the more time passes since the professional progress of MBAs is generally faster. One can also go for USA scholarships to release the burden of paying the fee.
Do I need an MBA to boost my career?
The very first question you must ask yourself is: if you really need an MBA to have your dream job. Although there are professions such as Business Consulting which is a requirement to have an MBA to be able to advance, in many areas it is not necessary to achieve managerial positions as a solid professional experience is enough. In other fields, such as in the public sector, different types of postgraduate courses such as Public Administration or Economics are more valuable.
One should not forget that not all MBAs are the same. Almost all universities offer MBA programs, so entering a prestigious school increases the value of the MBA in your career and your salary. There are highly competitive companies that only hire MBAs from the top 10 universities in the United States. Reputed companies select candidates from specific business schools given cultural compatibility.
On the other hand, if you want a change in your career, an MBA can help you achieve that change in management positions.
How much does the MBA cost in time and money?
Many only think about the benefits, but as demonstrated in the previous analysis, it is vital that you consider the costs in time and money and the cost-benefit ratio. It is true that you can reduce your debt by finishing your MBA with study abroad scholarships or working part-time while studying, of course, the latter will probably affect the time you need to finish your studies. You must consider the opportunity cost; that is, you will stop receiving a salary during the two years that an MBA lasts on average.