MBA graduates can expect to earn a median starting salary of $115,000 in 2021, according to a 2021 corporate recruiters survey from the Graduate Management Admissions Council (GMAC). That’s $40,000 higher than projections for direct-from-industry hires, and $50,000 higher than job candidates with a bachelor’s degree.
Salary growth over time is also important to consider when estimating how an MBA may boost your salary. The National Association of Colleges and Employers (NACE) Winter 2021 Salary Survey projected a lower average MBA starting salary of $87,966, while US News & World Report calculated an average starting salary for the class of 2021 to be $95,370 base salary and $105,684 including bonuses. Still, the median starting salary is higher than the US national average annual salary across all industries, about $58,260, according to the US Bureau of Labor Statistics (BLS).
So, if you are hoping to maximize your post-MBA salary, it can be helpful to seek an MBA program that is recognized for its commitment to the industry in which you plan to work. Additionally, having years of work experience can also increase your earning potential. According to US News & World Report, the industries with the highest average starting salaries are:
Nonprofit ($90,381) and government ($87,675) tended to be lower paying. Even still, these lower-paying industries average higher than the US national average annual salary across all industries, about $58,260, according to the US Bureau of Labor Statistics (BLS).
