Understanding the MBA ROI
An Education that starts at the right college can have a lasting return on the investment, as I discovered soon after graduating from the University of Tennessee. I began working following my graduation at the same company that I had worked at for several years, and my salary jumped to three times more than I was making as a mid-level manager. The MBA ROI calculations is an effective method used to assist students with relevant knowledge based on the amount of money they can earn following completion of the MBA program. The ROI calculations are based on criteria containing the average pay rate of individuals with an MBA degree versus a specific occupation without an MBA degree.
My evidence is clear, as I look back on the type of work I was suited for prior to getting my MBA, and the facts are alarming. I spent seventeen months in college earning my MBA degree and I continued working at my present place of employment, in a mid-management position. After I received my MBA degree, I was promoted to a district management position, offering a salary three times more than I was able to earn at the mid-management position.
Benefit packages such as company-paid health insurance, 401-K plans, company-paid retirement plans, specialty insurance such as short or long term disability plans, as well as company-paid vacation time, and sick leave should all be considered when calculating your earnings after you complete the MBA degree program. MBA ROI calculations are generally based on the salary portion without the benefits package however I include my benefits package along with my salary when I calculate my MBA return on investment, as these benefits were not available to me prior to my receiving my MBA degree.
After obtaining my MBA degree, I was promoted quickly, and the return on investment started immediately through my present employer. While I was able to work at my present place of employment after receiving my degree, many students needed assistance with their job search. The MBA University of Tennessee offers students a career management class that includes assistance with their job search, such as: writing effective resumes and cover letters, along with networking and interviewing skills. The career management office at the University of Tennessee offers students services that include job fairs, and company network events, as well as full-time job opportunities and internships.
When a student begins working after receiving the MBA degree, whether through their present employer or at a new job the MBA ROI will be seen immediately. The return on investment (ROI) will offset any college expenses, after receiving an MBA degree. With an MBA degree, a student can compete in the current job market for high paying jobs. When calculating the MBA return on investment, (ROI) company paid benefits should be calculated as if you were paid cash for the added benefits, and especially for those who are being promoted at their present place of employment after receiving their MBA degree, where the added benefits are considered a part of a salary package.