Is an MBA Worth it? [Infographic]

Many people say that a top-notch business school education results in a better position and a higher salary, but is that reality or just hype? This infographic from Knewton and QS research data show how an MBA can be well worth the investment. For more answers to the question "Why MBA?", as well as reasons why people decided to enroll in MBA progams, read on.

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US MBA Salary

MBAs make $3.2 million in lifetime earnings compared to $1.6 million for high school graduates and $2.7 million for people with other Masters degrees. According to the 2011 QS Jobs & Salary Report, the average salary for an MBA in the US is $87,700 which is significantly higher then the average starting salary for a 2011 college graduate ($50,034).

CEOs with MBAs

The huge success of non-MBAs such as Richard Branson, Steve Jobs and Bill Gates has caused many to question whether an MBA is necessary for corporate success. While an MBA might not increase your chances of becoming a CEO, a 2010 INSEAD study stated that it an MBA for better CEOs. Why is this? First, an MBA gives you better business skills. An MBA from a top school lets prospective employers know that you have the potential to be a top leader at their company. Lastly, an MBA can be an entry way into a network of other rising corporate stars.

MBA CEOs work in a diverse array of industries. In addition to the CEOs listed in the infographic, here is sample listing of CEOs with MBAs based on information in our school profiles section:

PetSmart CEOs Samuel Parker and Philip Francis (Kelley School of Business)
PayPal CEO Rajiv Dutta (The Peter F. Drucker and Masatoshi Ito Graduate School of Management)
VISA CEO Joseph Saunders (Daniels College of Business, University of Colorado)
Wells Fargo CEO John Stumpf (Carlson School of Management)
Trader Joe's CEO Dan Bane (USC Marshall)
Time Warner CEO Jeffrey L. Bewkes (Stanford)

Reasons for Getting an MBA

The inforgraphic lists networking opportunities as the top reason why people get a full-time MBA and the ability to remain marketable as the reason why people get a part-time MBA.

The 2011 QS Applicant Survey, the largest survey of the mindset and goals of MBA applicants, gives more general reasons for why people get an MBA. The top reason for getting an MBA, chosen by 69% of respondents, is to improve job prospects. Other top reasons include: learning a new skill (66%), increasing the chances of working in a leadership position (58%) and building a professional network (50%).