#1 – There’s Value in Business, Healthcare & Technology Degrees
A new report surfaced last quarter from Goldman Sachs on the value of a college education. Just so you know we strive for objectivity, the report was very pessimistic and called for a revolution in Higher Ed.
There was basically one positive finding to come out of the report. Obtaining a degree in business is one of three areas which were called out in the report where a college degree pays off.
In an article written by CNN Money about the report researchers at Goldman Sachs said, “The choice of college and major are more important than ever to students given the changing return profile. Some degrees are more valuable than others. Salaries are going up much faster for students who major in business, health care and tech.”
This positive for women considering MBA degrees. At the masters level, you will acquire skills in business, but you can also find concentrations and enroll in courses on health care and technology. And, anyone combining these areas such as BSN-to-MBA will have you an additional edge on the rest of the field.
#2 – Where You Earn An MBA Degree Matters
Another study by MarketWatch was conducted in February 2016 with 7,300 college graduates 10 years after they graduated. Their overall findings were that diplomas from prestigious schools boost future earnings only in certain fields, while in other fields they simply don’t make a difference.
Specifically, for business majors, the prestige of the school has a major impact on future earnings expectations. The starkest earnings differences are for business majors, where graduates from the selective institutions earn 12% more on average than mid-tier graduates and 18% more than graduates from less-selective colleges.
There are many possible explanations for the disparities. In business, more prestigious schools may offer better alumni networks and other connections with potential employers for jobs and internships.
The data from this study suggest it pays to get business degrees from elite and mid-tier universities.