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Does an MBA Matter in the Real Business World?
57% of Executives Say the Advanced Degree is Nice, But Not Necessary in TheLadders.com survey <BackNEW YORK (February 28, 2005)- With the average salary of business school graduates now topping $82,000, and some elite schools boasting average graduate salaries well into the $100k+ range, it may seem that getting a Master's Degree in Business Administration is the ticket to financial security. But does having an MBA really impact your success in the business world? According to a survey conducted by TheLadders.com, the world's leading $100k+ job search engine, 57% of executives said the degree is valuable, but not essential.
How would you rate the value of an MBA? |
|
| Very Important | 26% |
| Unimportant | 17% |
| A nice addition, but not necessary | 57% |
A total of 1,521 executives in the $100k+ job market responded to the survey, which asked: How would you rate the value of an MBA in your business? While the 57% majority characterized a business school diploma as "a nice addition, but not necessary," 26% said it was "very important" to have the degree. Only 17% said it was altogether "unimportant" to have an MBA in the current business climate (see table above).
"An MBA can be a fantastic credential for executives; it's not just a diploma, it's an entire network of shared experiences and overcome challenges," explained TheLadders.com founder and president, Marc Cenedella. "But no degree can guarantee success in the arena. It's important for executives to focus on how an MBA enables job success, not just cocktail party bragging rights. A diploma on the office wall doesn't mean you'll reach the penthouse."
The survey of registered $100k+ executives was conducted by TheLadders.com from February 16, 2005 through February 24, 2005. The margin of error is +/- 2.6%.
Now reaching over 270,000 readers and featuring over 17,000 new $100k+ job listings each month, TheLadders.com is the largest online job search service catering exclusively to the $100k+ market. Marc Cenedella founded TheLadders.com in July 2003 after a tenure as Senior Vice President, Finance & Operations, at HotJobs.com, ultimately shepherding that company's sale to Yahoo, Inc. (NASD: YHOO) in 2002. In May 2004 he was named Entrepreneur of the Year by award-winning marketing newsletter, MarketingSherpa, which cited TheLadders.com's unique business model as a key to its sustained growth.
About TheLadders.comHeadquartered in New York, TheLadders.com, Inc. is a privately held company offering online job search services to recruiters and job seekers in the $100k+ employment market. Ex-HotJobs.com executive Marc Cenedella founded TheLadders.com in 2003 to address the unique job seeking and recruiting requirements in this market sector. Investors include leading venture capital firm Matrix Partners and prominent private investors such as Kevin Ryan, CEO, DoubleClick, Tom Matlack, Megunticook Management, and Robert Chefitz, NJTC Venture Fund.
In addition to its primary member-based site, the Company operates vertical job search Web sites for sales, marketing, finance, human resources, law, technology, and operations. All sites feature daily job updates as well as industry-specific weekly e-newsletters. For corporate and executive recruiters, TheLadders.com delivers the same highly personalized experience. TheLadders for Recruiters (www.recruitladder.com) enables them to easily post $100k+ job openings at no charge. The Company further differentiates itself from other online job boards that fall prey to fraudulent job postings by implementing human mediated search, ensuring all job postings are fully qualified before being published to members.
More information about TheLadders.com can be accessed at www.theladders.com.
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Media Contacts
Maria Schiller
TheLadders.com
646-453-1913
maria.schiller@theladders.com