A higher potential salary
A business degree is one of the top five qualifications for the highest earning potential with graduates earning significantly higher average salaries compared to other disciplines, according to a 2015 report from USA Today. Research from the Forte Foundation also shows MBA graduates can expect a pay increase in the region of 35-45% with this number rising to 55-65% after five years, compared to pre-MBA levels.
Career flexibility and transferable skills
The understated value of a business degree such as an MBA is its versatility in the job market as business graduates are often suitable for various work opportunities and can enjoy the freedom to traverse multiple industries throughout their careers. Many employers also stress their preference for graduates with a business degree as they will possess a solid set of transferable skills such as critical thinking, problem solving, decision-making, and project management, all of which can be applied to different levels of an organisation.
The opportunity to work in a growing industry
According to a 2016 report from the Higher Education Statistics Agency, seven of the top ten jobs held by graduates working in the UK are related to business and management. The survey also indicates that 77% of these graduates are employed within six months of graduation. The consultancy sector is also popular among business and management graduates with a broad range of career options available including, organisational planning, strategic consulting, HR consulting, and business process management. The 2016 Graduate Market report from High Fliers indicates that consultancy vacancies have increased by 63% since 2006.