A higher potential salary
A business degree is one of the top 5 qualifications in terms of earning potential, with graduates earning significantly higher average salaries compared to other disciplines, according to a recent report from USA Today. When compared to pre-MBA levels, research from the Forte Foundation shows that MBA graduates can expect a pay increase in the region of 35-45%, with this figure rising to 55-65% after five years.
What can you do with a business degree?
An often overlooked aspect of a business degree such as an MBA is its versatility in the job market. Business graduates are often suitable for various work opportunities and can enjoy the freedom to cross multiple industries throughout their careers. Many employers also stress their preference for graduates with a business degree as they possess a solid set of transferable skills such as critical thinking, problem solving, decision-making, and project management, all of which can be applied within different levels of an organisation.
The opportunity to work in a growing industry
The career options in business and management are extensive and rewarding. According to a 2016 report from the Higher Education Statistics Agency, 7 of the top 10 jobs held by graduates working in the UK are related to business and management. The survey also indicates that 77% of these graduates are employed within six months of graduation. The consultancy sector is also popular among business and management graduates with a broad range of career options available including organisational planning, strategic consulting, HR consulting, and business process management. In addition, the 2016 Graduate Market report from High Fliers indicates that consultancy vacancies have increased by 63% since 2006.