For working Pennsylvanians determined to advance in high-demand fields, an MBA is a worthy investment. Consider the data from several trusted sources:
United States Census Bureau
The most recent survey on educational attainment shows the following degree and earnings data for the state of Pennsylvania:
18.5 percent of the population over 25 years of age has a bachelor’s degree. The median annual salary for this group is $50,595.
11.2 percent of the population over 25 years of age has a graduate or professional degree. The median annual salary for this group is $66,857.
According to this data, employees with graduate degrees in Pennsylvania earn 32 percent more than employees with bachelor’s degrees. If this disparity holds up over a 40-year career, the difference in earnings would likely add up to a million dollars.
United States Bureau of Labor Statistics
The U.S. Bureau of Labor Statistics’ most recent update (May 2016) shows the following data for Pennsylvania occupational employment and wage estimates. The groupings below represent some of the career options for the six online MBA programs offered by La Salle.
| Occupation | State Employment | Mean Annual Wage |
|---|---|---|
| All Management Occupations | 226,740 | $121,830 |
| General and Operations Managers | 70,430 | $125,560 |
| Computer and IT Managers | 12,150 | $143,260 |
| Chief Executives | 9,230 | $208,150 |
| Accountants & Auditors | 52,590 | $73,500 |
| Marketing Managers | 6,250 | $154,030 |
| Sales Managers | 8,930 | $147,110 |
| Human Resources Managers | 4,100 | $128,280 |
| Compensation & Benefits Managers | 540 | $135,370 |
| Training & Development Managers | 970 | $122,180 |
| Financial Managers | 16,190 | $149,980 |
| Personal Financial Advisors | 8,350 | $119,140 |
| Computer and Information Systems Managers | 12,150 | $143,260 |
Pennsylvania is among the states with the highest levels of employment for management occupations according to the BLS. The six online MBA programs from La Salle University provide preparation for a variety of management and executive-level occupations, including those above.
PayScale
The census data is two years old, so we corroborated the annual earnings data on PayScale, which reveals a slightly higher average annual salary for employees with an MBA of $85,029 as of July 2017.
A recent PayScale survey demonstrated the high income potential made possible by coupling an MBA education with industry experience. Survey participants with one to four years of experience draw an average salary of $51,396, while participants with 10 to 19 years of experience earn an average salary of $98,800. With a 92 percent increase between the two experience levels, this data suggests that working professionals nearing ten years of experience would stand to earn significantly higher incomes after earning an MBA.
Maximize Your Income Potential With a La Salle University Online MBA
La Salle University offers six online MBA programs, which provide the educational foundation for the lucrative and in-demand fields described above:
- Master of Business Administration in Accounting.
- Master of Business Administration in Marketing.
- Master of Business Administration in Management.
- Master of Business Administration in Finance.
- Master of Business Administration in Business Systems & Analytics.
- Master of Business Administration General.
Each is an accelerated program that can be completed in as few as 14 months, getting students to higher paying positions faster. Some students continue to work as they earn their degrees. The programs are 33-39 credit hours apiece and tuition starts at just $29,601. The low cost of tuition enables more working Pennsylvanians to acquire the management skills necessary to meet state demands and raise their own lifetime earnings potential.
Learn more about La Salle University’s online MBA programs.
Sources:
U.S. Census Educational Attainment Data for Pennsylvania
U.S. Bureau of Labor Statistics: Occupational Employment and Wage Estimates for Pennsylvania
Investopedia: What Is the Average Salary for an MBA Graduate?