Doing Your MBA in the US: Three Reasons Why It’s Still Worth It

According to a June 2019 article by The Wall Street Journal, applications to some of America’s most elite MBA programs have been declining at a sharper rate this year.

The steepest decline concerned applications from international students, which might come as a surprise considering gaining access to MBA programs has never been easier. 

These figures affect US business schools (particularly high-level private colleges) the most, as non-residents can pay up to three times as much as local students in tuition fees.

A survey by Kaplan asked faculty and staff from the top schools why applications might have declined. Most believed the economy’s current strength to be the main reason, with Bachelor graduates choosing to stay in the workforce rather than going back to school to pursue an MBA.

The other two most popular responses were a perceived diminishing value of an MBA title and the US political climate, particularly the harsher immigration laws currently in place.

But have MBAs really lost their value?

Here’s three reasons why it might still be worth it.

MBAs are personally and professionally rewarding

In a survey by the Graduate Management Admission Council (GMAC), 94 percent of MBA graduates described their experience in business school as personally rewarding, with 89 percent of those saying it was also rewarding on a professional level.

When asked to elaborate, people said an MBA prepared them for leadership positions, increased their earning power, widened their professional network and gave them opportunities to advance quickly in their careers.

MBAs can make you earn more

It’s no news that having an MBA can reward you with quite the salary uplift – but by how much? A NACE survey analyzed the salaries of business school graduates and predicted that MBA grads would have the highest salary among various business schools’ Class of 2019, starting at US$84,580 (£65,674). Compared to the second-best salary of US$76,106 (£59,136) for management information systems grads, this figure is striking.

MBAs can open more doors

Unlike other degrees, the demand for MBA grads spans across many sectors. A GMAC survey found that in 2019 companies in the consulting, energy, utilities, healthcare and technology industries had a strong desire for MBA applicants, making it easier for candidates with an MBA to get their foot in the door.

World statistics also showed that an MBA gives graduates opportunities outside of the country they studied in. At the beginning of 2019, 77 percent of US employers said they planned to hire MBA talent, and figures are even higher abroad: in Asia-Pacific, nine out of 10 companies seek out MBA graduates, seven out of 10 in Europe.

Lastly, MBA applicants are more likely to be hired by larger companies – so if your dream company is one of the larger organizations out there, you might have a higher chance to stand out with an MBA on your resumé.