In such a weak job market, many recent grads and those who have been out of college for many years have decided to forgo the job search, go back to college, and pursue an advanced degree. An MBA degree is a popular choice for post-graduate students, but with several options to choose from within the degree, how do you decide what is the best and most profitable one for you?
Payscale released an infographic depicting the pros and cons of four of the most common MBA degree options: finance, marketing, technology management, and humane resources. According to their survey results, an advanced degree in finance is the most popular choice, which is likely because this MBA degree provides the highest expected lifetime earnings of the options. Here’s the breakdown of what you can expect to earn over a 30-year period with each degree:
- MBA degree in finance: $3,210,000
- MBA degree in marketing: $3,060,000
- MBA degree in technology management: $2,680,000
- MBA degree in human resources: $2,060,000
But money isn’t everything when it comes to choosing an advanced degree. Obviously, you want to pick something you are going to be happy doing. You can choose online courses with other options such as Masters of Human Services, Health Care Ethics or Engineering Management, for example. Luckily, each degree option had fairly high levels of satisfaction from survey respondents. And it looks like the level of an employee’s satisfaction directly correlates to how much stress they are under. Results show that, the lower the stress, the higher level of job satisfaction. In case you’re wondering, those with an MBA in technology management are both more satisfied and less stressed. Followed by human resources, finance, and marketing, respectively.
Check out the rest of the results in Payscale‘s infographic below.
All things considered, which MBA path do you think has the highest payoff? Share with us in the comments below!
For this post, thank you to our friends at Come Recommended.
Megan Westemeier graduated magna cum laude from Eastern Illinois University with a B.A. in communication studies (public relations focus) and a minor in advertising in May 2012. She has gained experience in her field by working as a public relations writer, copy editor and by doing non-profit work.