57% of Executives Say the Advanced Degree is Nice, But Not Necessary in TheLadders survey
NEW 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?
|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.