Triple Your Salary With an MBA

Statistics collected by the U.S. Census Bureau prove that one greatly increases one’s earning potential with continued education, yet people who earn advanced degrees (master’s and beyond) only account for about 8.8 percent of the total U.S. population.

There is a wide choice in master’s degree programs, although the Master of Business Administration (MBA) surpasses the earning power of the average master’s degree. For instance, in 2005, graduates with an MBA expected to earn a base salary of $88,626, with an average signing bonus of $17,428. Further, the Graduate Management Admission Council (GMAC) estimated that total annual compensation in 2006 for MBA graduates in the high-tech industry was $98,621.

U.S. News and World Report publishes annual rankings of the “Best Business Schools.” It would help to study the rankings from this report to determine what kind of GMAT score you’ll need to get into the business school you’re eyeing.

Once you’ve narrowed it down, you’ll need to get down to studying. The MBA Podcaster is a great resource for learning about the MBA and preparing for the GMAT.

The companies that have the biggest toe hold on the GMAT training market are Manhattan GMAT, Kaplan, Princeton Review and Veritas Prep. These training vendors offer a cornucopia of options to prepare for the GMAT, including:

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