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Montclair MBA Online: MBA Benefits and Career Outlook

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for a #1 Ranked Online MBA!

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What’s the ROI of an MBA? Montclair State University Online Spotlights MBA Advantages, Value and Job Opportunities

For those who work in the corporate world, a Master of Business Administration (MBA) can be a career changer. Montclair State University online MBA programs continue to attract growing interest and enrollment from ambitious professionals, and with good reason. If you’re considering pursuing a Montclair MBA online, learn how investing in a master’s degree can yield dividends and enhance your success.

Why Earn an MBA?

While there are many reasons students may opt to enroll in an MBA program, a 2018 survey by the Association of International Graduate Admissions Consultants (AIGAC)(1) identified applicants’ top motivations:

  • Acquire new information, skills or knowledge: 57%
  • Access job prospects, including the opportunity to transition into a new career: 49%
  • Develop a strong business network: 48%
  • Advance within an existing career field (vertical move): 48%
  • Acquire or enhance professional credentials: 40%
  • Increase earning potential: 38%

Though individual aims and objectives may vary, the fact remains that an MBA degree can deliver on all of these goals.

Boost Your Earning Power and Expand Your Career Opportunities

According to the U.S. Bureau of Labor Statistics (BLS), employment of management occupations is projected to grow 8% from 2016 to 2026, resulting in more than 807,000 new jobs.(2) The median annual wage for all management occupations was $102,590 as of May 2017,(2) while chief executives earned a median yearly salary of $183,270.(3)  

Previous studies by the BLS revealed that master’s degrees can contribute to substantial wage premiums in the business sector. Compared to employees with a bachelor’s degree, professionals with a master’s degree enjoyed wage premiums ranging from 36% to almost 90%.(4)

Findings published by Forbes echoed the BLS trends, indicating that graduates earned substantially more after attaining their MBA degree than they did beforehand. The results showed that graduates’ post-MBA starting pay was 50% higher than their pre-MBA salary; and five years after earning an MBA, their income was a full 80% higher than their post-MBA starting pay.(5)

General MBA

Business Analytics MBA

The above studies offer compelling reasons to pursue a Montclair MBA online. If you’re looking for a highly versatile credential that has value in virtually every industry and business sector, you may wish to consider the General MBA, which serves as the foundation of all Montclair State University online MBA programs. But if your career interests lie in a specific field, you’ll find equally strong justification for pursuing a specialized MBA with a concentration in one of four popular business areas.

Business leaders recognize the value data analysts bring to their organizations, citing their role in identifying and prioritizing new business opportunities (72%); enabling more efficient use of time/resources (72%); improving understanding, acquisition and retention of customers (63%); and increasing project success rates (63%).(6) BLS projections indicate that employment of operations research analysts will increase 27% from 2016 to 2026—much faster than the average for all occupations.(7) As of May 2017, operations research analysts earned a median annual salary of $81,390, while the top 10% earned in excess of $134,470 per year.(7) 

Digital Marketing MBA


Digital marketing and advertising continue to grow exponentially. From 2016 to 2017, digital advertising revenue jumped 21% to $88 billion—and nearly $50 billion of that total (57%) is from mobile ad revenue.(8) There is tremendous demand for digital marketing talent in today’s agencies and marketing departments; more companies (59%) are looking to hire digital marketers than any other job function.(9) Managers and executives in this field command excellent salaries; digital marketing managers earn up to $130,000 per year, while digital marketing directors make as much as $147,500.(10)

Finance MBA


In a survey of financial leaders, 91% reported challenges in finding skilled professionals.(11)That demandhas led to faster-than-average job growth andlucrativesalaries for qualified finance specialists.From2016 to 2026, theBLSforecasts 11% employment growth for financial analysts,(12)15% growth forpersonal financial advisors(13)and 19% growth for financial managers.(14)BLS salary surveys also reflecthighearning potentialfor each of these occupations; as of May 2017, median annual wages were$84,300 for financial analysts,(12)$90,640 for financial advisors(13)and $125,080 for financial managers.(14)

Human Resources Management MBA


Organizations worldwide have demonstrated a strong demand for skilled HR managers who know how to recruit, hire, train, retain and promote the best employees. According to the BLS, employment of human resources managers is projected to grow 9% from 2016 to 2026.(15) As of May 2017, human resources managers earned a median annual salary of $110,120, while the top 10% earned more than $197,720 per year.(15)

Marketing MBA

Project Management MBA

Global paid media spending has been steadily rising year over year; it climbed to $584 billion in 2017 and is projected to surpass $757 billion by 2021.(16) From 2017 to 2018, demand for traditional marketers grew 79%.(9) Overall, the BLS forecasts that employment of marketing managers will increase 10% from 2016 to 2026, which is faster than the average for all occupations.(17) As of May 2017, marketing managers earned a median annual salary of $132,230, while the top 10% earned more than $208,000 per year.(17)

Businesses have an ongoing need for trained project managers. The project management labor force is anticipated to grow 33% from 2017 to 2027, which translates to nearly 22 million new jobs; however, talent shortages could potentially cost nearly $208 billion during that period.(18) By 2027, employment of project managers is forecast to reach almost 88 million.(18) As of 2017, professionals in project management roles earned an average wage of $105,000 per year.(18)

Marketing MBA

Global paid media spending has been steadily rising year over year; it climbed to $584 billion in 2017 and is projected to surpass $757 billion by 2021.(16) From 2017 to 2018, demand for traditional marketers grew 79%.(9) Overall, the BLS forecasts that employment of marketing managers will increase 10% from 2016 to 2026, which is faster than the average for all occupations.(17) As of May 2017, marketing managers earned a median annual salary of $132,230, while the top 10% earned more than $208,000 per year.(17)

Project Management MBA

Businesses have an ongoing need for trained project managers. The project management labor force is anticipated to grow 33% from 2017 to 2027, which translates to nearly 22 million new jobs; however, talent shortages could potentially cost nearly $208 billion during that period.(18) By 2027, employment of project managers is forecast to reach almost 88 million.(18) As of 2017, professionals in project management roles earned an average wage of $105,000 per year.(18)

Sources

Sources:

  1. Association of International Graduate Admissions Consultants (AIGAC). 2018 MBA Applicant Survey Great Expectations; June15, 2018; page 31. <http://aigac.org/wp-content/uploads/2013/12/AIGAC-MBA-APPLICANT-SURVEY-2018.pdf>
  2. U.S. Bureau of Labor Statistics (BLS). “Management Occupations”; Occupational Outlook Handbook; updated April 13, 2018. <https://www.bls.gov/ooh/management/>
  3. “Top Executives: Pay”; Occupational Outlook Handbook; updated April 13, 2018. <https://www.bls.gov/ooh/management/top-executives.htm#tab-5>
  4. Torpey, Elka and Dalton Terrell. “Should I Get a Master’s Degree?”; Career Outlook (BLS); September 2015. <https://www.bls.gov/careeroutlook/2015/article/should-i-get-a-masters-degree.htm>
  5. Yeaple, Ronald. “MBA Pay”; Forbes; March 17, 2014. <https://www.forbes.com/sites/ronaldyeaple/2014/03/17/mba-alumni-profile-2/>
  6. International Institute of Business Analysis and KPMG. Business Analysis: Positioning for Success; October 31, 2016. <http://www.iiba.org/Learning-Development/L-D/research-and-study-impact2016.aspx>
  7. “Operations Research Analysts: Job Outlook and Pay”; Occupational Outlook Handbook; updated April 24, 2018. <https://www.bls.gov/ooh/math/operations-research-analysts.htm>
  8. Interactive Advertising Bureau. IAB Internet Advertising Revenue Report: Full Year 2017 and Q4 2017; May 10, 2018. <https://www.iab.com/wp-content/uploads/2018/05/FY-2017-IAB-Internet-Advertising-Revenue-IAB-Webinar-Presentation-05-10-2018.pdf>
  9. McKinley Marketing Partners. 2018 Marketing Hiring Trends Report; April 17, 2018. <http://mckinleymarketingpartners.com/2018/04/10-key-insights-from-the-2018-marketing-hiring-trends-report/>
  10. Mondo. 2018 Salary Guide: Digital Marketing and Technology; March 27, 2018. <https://www.mondo.com/wp-content/uploads/2018/05/Mondo-2018-Salary-Guide.pdf>
  11. Robert Half. “Five Skills Financial Leaders With Expanding Roles Should Refine”; November 16, 2018. <https://www.roberthalf.com/blog/management-tips/5-skills-financial-leaders-with-expanding-roles-should-refine>
  12. “Financial Analysts: Job Outlook and Pay”; Occupational Outlook Handbook; updated April 13, 2018. <https://www.bls.gov/ooh/business-and-financial/financial-analysts.htm>
  13. “Personal Financial Advisors: Job Outlook and Pay”; Occupational Outlook Handbook; updated July 13, 2018. <https://www.bls.gov/ooh/business-and-financial/personal-financial-advisors.htm>
  14. “FinancialManagers: Job Outlook and Pay”; Occupational Outlook Handbook; updated November 13, 2018. <https://www.bls.gov/ooh/management/financial-managers.htm>
  15. “Human Resources Managers: Job Outlook and Pay”; Occupational Outlook Handbook; updated April 27, 2018. <https://www.bls.gov/ooh/management/human-resources-managers.htm>
  16. Worldwide Ad Spending: eMarketer’s Updated Estimates and Forecast for 2016–2021; October 13, 2017. <https://www.emarketer.com/Report/Worldwide-Ad-Spending-eMarketers-Updated-Estimates-Forecast-20162021/2002145>
  17. “Advertising, Promotions, and Marketing Managers:Job Outlook andPay”; Occupational Outlook Handbook; updated April13, 2018. <https://www.bls.gov/ooh/management/advertising-promotions-and-marketing-managers.htm#tab-5>
  18. Project Management Institute. Project Management Job Growth and Talent Gap: 2017–2027; May 2017. <https://www.pmi.org/-/media/pmi/documents/public/pdf/learning/job-growth-report.pdf> Project Management Institute. Project Management Job Growth and Talent Gap: 2017–2027; May 2017. <https://www.pmi.org/-/media/pmi/documents/public/pdf/learning/job-growth-report.pdf>

Contact Information


Toby Burris
Montclair State University
Student Recruitment Manager

973-655-6015
onlinemba@mail.montclair.edu

Do you have questions about the online MBA? You may find it helpful to watch a webinar hosted by Student Recruitment Manager, Toby Burris.

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