Whether you are already enrolled in a master’s of business administration (MBA) degree program or thinking about applying to one, the return on investment for your education was or is an important factor in your decision to pursue an MBA. And while an MBA degree is generally perceived as a salary booster, the ROI may vary significantly based on the career track you choose.
A recent Harvard Business Review video examines two alternative career paths of an MBA graduate: the traditional career of a consultant who advances up the ladder of a consulting, investment banking or private equity firm versus the less traditional career of an entrepreneur who acquires a small business.
Who makes the most?
According to the video, the entrepreneur is expected to earn more long-term thanks to the inherent value of business ownership that offers a share of yearly profits in addition to salary earnings as well as the option to cash out upon retirement.
“What’s the Most Lucrative MBA Career?”
While salary may be an important factor in choosing a career post MBA, it’s also important to not lose sight of one’s own personality in making this decision. For example, commentary on what type of traits are commonly shared by successful entrepreneurs — determination, risk tolerance, confidence, ability to sell, adaptability, passion, etc. — can be helpful in assessing one’s fit for an entrepreneurial career. However, an MBA degree gives you lots of options; it’s up to you to decide where the degree will take you.
For students who may be interested in traditional or entrepreneurial MBA careers, Limestone College offers an innovative online MBA program that allows students the ability to work at their own pace, focusing on a single online class every eight weeks. Students will take courses in key business disciplines, including management, marketing, accounting, finance, business law and ethics. Learn more about Limestone’s online MBA program curriculum and a description of the courses offered.