Is an MBA worth it?
For someone with nine years of experience at a leading custodian bank in NYC, what does obtaining a paid MBA from an accredited institution really bring to the table?
Once they earn their MBA, what steps can they take to maximize their salary?
- Do companies typically offer salary increases for obtaining an MBA?
- Should they consider applying for positions at different firms that might offer higher compensation?
- Are there instances where a company actively seeks to hire MBA graduates, or is it simply a way to enhance their resume?
Thanks for your insights!
One response
Getting an MBA can offer several potential benefits, especially for someone with your background in a top custodian bank. Here are considerations regarding your questions and suggestions for increasing your salary:
It varies by company. Some firms do offer salary increases or bonuses for employees who earn an MBA, particularly if they view the degree as beneficial for your current role or potential advancement. However, the increase might depend on your existing salary, the firm’s policies, and the industry.
Do you need to apply for a different job or company that offers a higher salary?
Often, pursuing a new role at a different company can be a more effective way to leverage your MBA for a salary increase. Many firms may offer higher compensation to attract talent with advanced degrees. Additionally, a fresh perspective from a new environment could help you gain more responsibility and a better salary package.
Is there a situation where the firm would actually want to hire an MBA grad, or is it just a resume booster?
Next Steps to Increase Salary:
– Network: Leverage alumni networks and connections made during your MBA program to explore new opportunities.
– Showcase Skills: Whenever possible, demonstrate how you’ve applied what you learned in your MBA program to your work. Highlight results and improvements you’ve driven.
– Consider Internal Promotion: If your current company values the MBA, consider discussing your long-term career path and potential for advancement, making a case for how you can contribute at a higher level.
Ultimately, the combination of your extensive experience and an MBA can significantly enhance your earning potential, especially if you’re proactive in seeking out opportunities that align with your career aspirations. Good luck!