A Master of Business Administration (MBA) is a graduate-level degree that focuses on developing skills in business management, leadership, finance, marketing and strategic decision-making. MBA programs equip students with both theoretical knowledge and practical tools to navigate complex business environments, often through case studies, group projects and internships.
Employers highly value MBAs for their comprehensive training in critical thinking, problem-solving and leadership, preparing graduates for managerial roles. Many businesses prefer hiring MBA graduates for senior positions, as the degree signals a strong foundation in business acumen and the ability to drive organizational success in competitive markets. For those who want to strengthen their leadership competencies, the University of Northern Colorado (UNC) offers a fully online MBA program.
Is Getting an MBA Worth it?
In order to determine if getting an MBA is worth it to you, there are several important factors to keep in mind. One of the first questions to consider is whether there is a substantial increase in salary for those with an MBA degree. There is abundant evidence that post-graduate degrees pay more than a bachelor’s degree or lower, per the U.S. Bureau of Labor Statistics (BLS). The Graduate Management Admission Council (GMAC) surveys corporate recruiters and hiring managers from around the world, and their 2024 report features the following key findings:
- MBA graduates in the U.S. earn 1.75 times more than bachelor’s degree graduates.
- The median starting salary for an MBA graduate in 2024 was $120,000, which is significantly higher than the $69,320 for a bachelor’s degree graduate.
- Employers across sectors say they are most likely to hire MBAs in 2024 and expand hiring of data and business analytics graduates over 2023 levels.
- According to Salary.com, the national average for those with an MBA is $111,929.
What Jobs Can You Pursue With an MBA Degree?
When looking to extend your career trajectory, it’s important to consider the competition for leadership positions and advancement opportunities. Those with an MBA have a definite advantage. If you’re looking for accelerated advancement in the career you’re already pursuing, or you want to pivot in a new direction with a newfound skill set, an MBA provides the following benefits:
- Greater awareness of a global market
- Improved communication skills
- Expanded professional network
- Better job opportunities
- Better time management skills
AI and technology are driving demand for employees with MBA degrees. Those who combine MBA knowledge with technical skills boost employability. Those with expertise in emerging markets and those who are focused on ESG roles in consulting, finance and operations are also highly sought after.
The top three industries for MBA graduates are consulting, finance and technology, followed by media and entertainment, retail, real estate, energy, manufacturing, consumer products and healthcare. GMAC hiring trends, along with LinkedIn job data, reveal the top careers for those with an MBA degree:
Management Consultant
Industries: Consulting firms, tech, healthcare, finance
- Growth: Strong, with consulting firms hiring aggressively for digital transformation and sustainability projects
Product Manager
Industries: Tech, consumer goods, healthcare
- Growth: Rapid, especially in AI, fintech and e-commerce sectors
Investment Banker
Industries: Finance, private equity, venture capital
- Growth: Steady, with demand for expertise in ESG (environmental, social, governance) investments
Marketing Manager/Brand Manager
Industries: Consumer goods, tech, retail
- Growth: High, driven by digital marketing and AI-powered advertising
Data Scientist/Business Analyst
Industries: Tech, finance, healthcare, retail
- Growth: Explosive, as companies prioritize AI and machine learning
Private Equity/Venture Capital Associate
Industries: Finance, startups, tech
- Growth: Competitive, with strong demand for tech-focused investments
Corporate Strategy Manager
Industries: All major sectors, especially tech and manufacturing
- Growth: Steady, with focus on sustainability and global expansion
Entrepreneur/Startup Founder
Industries: Varies (tech, social impact, fintech)
- Growth: Strong, with increasing support from incubators and venture capital
How Long Does It Take to Get an MBA?
An MBA degree’s credit requirement can range widely, typically between 30 to over 60 credits, with many traditional programs requiring around 60 credits to graduate. Full-time MBAs are typically two years, while part-time MBAs can take two to five years, and courses are usually on nights and weekends.
An executive MBA may take 18 to 24 months to complete and typically also utilizes a night and weekend class schedule. Some universities offer accelerated programs, such as UNC, which offers a 12-month program requiring 36 credit hours and featuring a flexible online schedule.
How Much Does an MBA Program Cost?
The cost to complete an MBA program is a significant consideration. The competition for leadership positions and advancement opportunities is high, and those with an MBA have a clear advantage: 80% of MBA graduates are employed within three months of earning their degree.
When choosing an MBA program that fits your budget and schedule, keep in mind that online MBA programs cost less on average than on-campus programs, and the average MBA tuition price is just over $61,000. The one-year online MBA program from the University of Northern Colorado is much more affordable, including tuition and fees, with total costs available on the program page. The program includes three foundation modules covering practical skills in economics, finance and accounting. These are offered at no cost, graded on a pass-fail basis and can be taken concurrently with students’ first for-credit course in the program.
What Does an MBA Degree Teach You?
The top three skills gained by alumni during MBA programs are leadership, strategic thinking and problem-solving. Core coursework is typically in six foundational areas: finance, marketing, accounting, leadership and teamwork, economic statistics and operations, and ethics.
Programs offer focused expertise by providing specialized concentrations. UNC exemplifies this with in-demand elective options that focus on healthcare, human resources and other special topics.
Is AACSB Accreditation Important for an MBA?
The Association to Advance Collegiate Schools of Business (AACSB) is the world’s largest network and global standard-setting body for business education. AACSB-accredited schools, like UNCO’s MBA programs, are trailblazers in teaching, research and societal impact. Fewer than 5% of business schools worldwide hold AACSB accreditation.
AACSB accreditation provides significant advantages for both students and employers. According to AACSB, 87% of alumni from accredited schools agree that the skills they developed in business school advanced their careers, while 83% agree their graduate business education increased their earning power. Additionally, 96% of alumni from AACSB-accredited business schools are employed. For employers, AACSB-accredited schools ensure graduates possess high-demand skills including strategic agility, ethical leadership and problem-solving abilities.
Earn Your Online MBA From UNC
When you’re ready to advance your career with a general MBA degree, the online MBA program from the University of Northern Colorado will prepare you to achieve your goals. This accelerated program requires no GMAT for enrollment.
The program includes 24 credit hours of core courses covering essential business topics. Core curriculum topics include ethical leadership, managerial accounting, economics, international business, data analytics and visualization, strategic management, and advanced finance.
Learn more about UNC’s online Master of Business Administration program.
