When you are looking into the type of career you want to pursue, it is always important to look at the business career statistics that can tell you a lot about the lifestyle you look forward to having. One of the most important statistics is, of course the salary. Those serious about business, in this day and age, should always go right through to earning a master’s degree, if they want to succeed in business. An MBA, especially from a prestigious college, will take you far. But then again, a PhD will take you further. Let’s look at the salary difference between these education levels.
With a masters in business administration and an excellent resume filled with top-tier internships, volunteer work, and community involvement, you should be able to start your career making around $90,000 to $100,000 annually. You will be eligible for such careers as financial consultant, healthcare executive, manufacturing executive, and director of a nonprofit agency. All of that depends, of course, upon your concentration in college.
With a business Ph.D., your education will be a great deal higher and a great deal more specialized. Those with doctorate degrees tend to see themselves as on the fast track to becoming a CEO or CFO or on the faculty at a business school. Their salaries tend to range anywhere from $110,000 to $150,000 annually to start. As you can see, the higher your education level, the higher your starting salary, but remember that your student loan repayments will also be quite a bit higher. There is a lot to consider when evaluating the advantages of taking your education all the way.
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