MBA graduates continue to achieve high salaries beating averages from a decade ago (inflation considered), according to the latest research from the Association of MBAs (AMBA). The AMBA Careers Survey 2013 also reveals that twice as many MBAs are working in the public sector and more women MBAs are entering the legal profession than in previous years. MBA graduates from business schools with AMBA accreditation are receiving the highest average salary in the UK since 2004 and 11% more graduates reported earning above £70,000 compared to those surveyed in AMBA's previous Careers Survey in 2010.
The Careers Survey showed that the average (mean) salary of MBA graduates from AMBA accredited business schools working in the UK now stands at over £82,000 (the highest since 2004). The median salary, including variable cash, such as bonuses, stands at £90,000. This is a 7% increase on the same salary in 2010.
Our most recent Careers Survey shows that the number of MBA graduates working in the public sector doubled with almost one in ten MBA graduates now working in this sector since AMBA's last Careers Survey in 2010.The Careers Survey shows a growth in female MBA graduates in the legal profession. There is a strong representation of MBA graduates in all sectors. The survey found that 15% of the graduates surveyed worked in consulting, 11% in finance, 10% in industry, 9% in healthcare, 9% in public service, 5% energy and 5% in consumer goods sector. Compared with 2010 there was a 67% increase in women who reported working in the legal field.
Studying for an accredited MBA gives you an exceptional platform for networking at the highest level. You will be part of a diverse and experienced group of professionals, studying with people who have been carefully selected, whilst benefiting from top quality connections with the alumni of some of the world's best business schools. As one graduate explained, 'after what you go through together, the partnerships you forge during your MBA are for life - you can find a business partner, a mentor, a friend, and endless career opportunities.'
An MBA, or Master in Business Administration degree, is an internationally recognised passport to a successful management career. Designed to broaden your horizons and build on your strengths, it takes into account all the major aspects of business: marketing, finance, accounting, quantitative methods, IT, organisational behaviour & human resource management, operational & strategic management, research methods & consultancy, environment, change management, business policy & strategy, leadership & entrepreneurship, contemporary & pervasive issues, internationalisation.Work experience and diversity play an important role in an accredited MBA, and a typical group will consist of mature students with five to ten years of relevant industry experience, from several different markets and sectors with varying cultural and geographical backgrounds. If you are interested in an MBA but don't yet have enough work experience, then you might want to think about a Masters in Business and Management (MBM).Thanks to the internet, globalisation and a change in lifestyles, many schools now offer more flexible ways to study, either through distance learning or part-time programmes. And with so many to search for, there is a huge variation in quality, which is why we're here, to help you make an informed decision.
Workload is a really important consideration and you need to be able to set aside at least 20 hours a week for a distance learning programme. Full and part-time courses will, of course, take up more of your time.
Having the full understanding and support of your family is one of the essential factors when choosing to study for an MBA.
This depends on the amount of experience you've built up in your career. Most institutions will expect at least three to five years of industry experience and if you don't have this then it's worth considering a Masters in Business and Management (MBM).
To make sure you're fully informed, it's a good idea to get hold of a copy of the Association of MBAs Official Guide to Choosing an MBA, which is available here.
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