MBA programs are considered continuing education in Germany and must therefore be funded entirely by tuition fees. No academic title costs as much as the MBA. Of course, MBA funding also has a big weight in the “MBA or Master`s” decision? The difference in salary between graduates of other master`s programs and MBA graduates is not extreme in terms of starting salary. Nevertheless, there are good reasons for an MBA degree: Before studying for an MBA, participants need to know which industry they would like to work in next. Then they should find out which business school is best suited for this. Your subsequent salary depends on these two factors. An MBA study showed that the highest paid with a German MBA come from RWTH Aachen: 90,000 euros base salary is the average. MBAs from Mannheim Business School and ESMT Berlin follow with a base salary of 84,000 euros and a total salary of 87,200 euros. Managing Director is a typical job title after an MBA. The average salary is 133,600 euros gross per year. The starting salary is 65,300 euros gross.
However, it can be said this: a good German MBA brings about 60,000 euros of starting salary on the job market, an MBA from a European Grande Ecole 80,000 euros from 80,000 euros. Some diplomas even bring in more than 100,000 euros in some regions. Many graduates choose to complete an MBA part-time while working. This way, they can gain work experience and start earning money to fund their tuition. Once they complete their MBA, they can expect to see an immediate salary increase and new doors open for them in terms of career advancement and greater responsibility. If you already work at a company you love, but funding your MBA is still an issue, you may be able to make an agreement with your current employer and receive financial support to help pay for your tuition. The prospect outlined by the Alumni Perspectives Survey 2018 of the American market research company GMAC is also dazzling: MBA graduates can therefore expect an average starting salary of 115,000 US dollars (about 96,700 euros), while a career beginner with a bachelor`s degree can only expect about 44,000 euros. In principle, the salary could be increased by an average of 79% after a two-year MBA program. The tables show the bottom quartile, the median and the top quartile, respectively.
The median ranks so that 50% of all values are higher or lower. Below quartile Q1 and above quartile Q3 are 25% of values. The salaries mentioned correspond to the total annual gross salary, which includes all fixed and variable components of the salary. Source: Gehalt.de As with almost all occupations, among many other factors, the location of the employer has an individual influence on the amount of salary. The average monthly salary in the northernmost state of the republic is around €4,272. If, on the other hand, you work in the south, you can expect an average salary of €4,824 in Baden-Württemberg, for example. In this regard, it should be noted that the analysis of our data throughout Germany regularly leads to the conclusion that wages in southern Germany tend to be higher than in the north. However, as when comparing earnings in urban and rural areas, it should be noted that the cost of living often rises in line with wages. More information on salary, student funding, selecting the appropriate MBA program, and other career advice can be found on www.mba-master.de. MBA rankings are sometimes as promising as six correct numbers on the lottery ticket. The title, of course acquired at a top business school, doubles the annual salary from the start, it is claimed.
But what does it actually look like? The Master of Business Administration is worthwhile not only in terms of career prospects, but also in terms of salary. As the 2015 GMAC Corporate Recruiter Survey showed, the MBA continues to be the best in salary comparison with other degrees. In the United States, the average salary with an MBA is $100,000. The actual amount of salary depends on various factors: for example, consulting firms often pay more than companies in industry or services. Work experience, previous salary and specific activity also play a role in salary negotiations. Many factors will influence the salary that MBA holders will earn at home. This can depend on the results, the business school and the field they enter after graduation, their location, previous work experience, the company they join after graduation, and the MBA graduate`s connections/network. Corporate demand for the best German-speaking MBA graduates exceeds supply.
After all, an MBA certifies that you, as a candidate, can think and decide analytically, economically and mathematically. In this way, it is also easier for humanities or natural scientists to successfully apply to consulting firms and other large companies. An MBA is therefore not only suitable for a small career break, but also ensures a higher average salary in the long run. Okay, so let`s take a look at the many MBA salary statistics and try to find realistic mediocrity. To anticipate it directly: according to surveys, a good German MBA allows – according to surveys – to obtain about 60,000 euros of annual salary on the job market, an MBA from a major European university of about 80,000 euros and more. In some regions, you can even earn more than $100,000. An MBA from a top business school is a substantial investment. It is understood that the knowledge and training of such a program will make you a valuable asset in your future career – but what about the financial return on investment? A look at the salary level of individual industries, including bonuses, shows that MBA graduates earn best in the field of raw material extraction with an average salary of US$134,000, followed by their colleagues in the energy industry with US$107,000. This is the result of the “QS TopMBA Jobs & Salary Trends Report 2014/15”. The pharmaceutical and healthcare industry – the leader of the previous study in 2012 – lands with an average salary of only US$100,000 in 3rd place. WHU believes that management excellence requires more than business expertise.
We practice what we preach, which is why our MBA program trains students to become effective managers with strategic vision, team spirit, and a sense of ethical behavior and responsibility. We know that our programs (full-time MBA, part-time MBA, online MBA) are generating positive returns, and by collecting data from graduates on their jobs and salaries, we have the numbers to prove it. The management knowledge gained during the program allows you to take on new challenges with more confidence and demonstrate new skills and ideas to employers, which can often lead to a pay raise. The financial and economic crisis has also led to salary losses for MBA graduates. But that is now a thing of the past. In the meantime, the situation has largely stabilized. According to the 2015 GMAC Alumni Perspectives Survey, MBA graduates in Germany received an average starting salary of $93,000 in 2014. For comparison: A bachelor`s degree graduate earns on average about 42,000 euros ($46,800) at the beginning of their career. After completing your course, continuing education with an MBA can open up a whole new world of job opportunities and accelerate your career. With a little extra effort, studying to become a Master of Business Admin can mean that you excel in your field. Below, we answer some of the most common questions about the Master of Business Administration and explain how MBA programs can be a productive investment in your future.
Whether you have the best GMAT score in the Top Business School class or one of the lowest, your Master of Business Administration always has the potential to increase your salary. It has been reported that the average MBA degree allows graduates to earn an MBA salary of around $138,000 in 2020. However, it should be noted that the salary range for professionals with a Master of Business Administration is broad. The average salary of MBA graduates depends on function and industry – but their starting salary remains higher than that of master`s graduates. Here`s how much you can earn with an MBA degree: Our students start an MBA to transform and advance their careers and gain important experience to take their professional achievements to the next level.