Which Business School Graduates With the Highest Degree Amounts?
Business school graduates with the highest degree amounts tend to earn significantly more than their peers who did not graduate with the same degree, according to a study released Tuesday by the Institute for College Access & Success (ICAS).
Institute for College and Career Success, a nonprofit organization dedicated to improving college affordability, analyzed graduates with at least five years of work experience, as well as those who had completed only a high school diploma, to find the best business schools for those looking to start a career in the financial services industry.
The report also included graduates who had only completed two years of college and those who graduated with a bachelor’s degree, earning between $50,000 and $75,000.
For the study, ICAS surveyed more than 100,000 graduates in 2019, with about 1.7 million graduates, or roughly 1.4 percent, enrolled in business schools.
ICAS also analyzed the salaries of graduates who received an associate’s or bachelor’s degrees and those with a master’s degree.
The average associate’s and bachelor’s-degree-earning bachelor’s grad earned between $51,000 to $67,000 in 2019.
For those with at most a master or associate’s degree and a bachelor degree, their average pay was $52,000, or 6.6 percent of the median.
For graduates with a combined master’s and associate’s-level degree and no degree, the average earnings were $60,000 or 13.5 percent of median pay.
For all graduates, the median salary was $70,000 for a bachelor, $75.00 for an associate, $85.00 and $100.00, respectively.
For students who earned a bachelor or associate degree, they made a median salary of $82,000 but had median pay of $73,000 if the degree was a business school, $79,000 with a business degree, and $93,000 as an entry-level employee.
The study found that the median starting salary for a business major was $78,000; the median entry-rank salary for an entry school was $84,000 (which would have made the school the fifth-highest starting salary in the study).
The median starting salaries for entry schools are also higher than the starting salaries of business majors who were at most the sixth-highest paying entry schools.
For example, the entry-ranked median starting pay for a school that has a combined business and management major and a master of science degree was $82.75 in 2019; for an MBA program, the starting pay was slightly less at $76,400.
For business school graduates who did earn a bachelor and associate degree but did not earn a business or management major, the pay was lower: $57,200 for the combined business degree and an associate degree; $52.75 for the business and master’s programs; and $60.00 in the entry school.
The highest starting pay in 2019 for a entry school with an associate was $92,000 at the University of Delaware, while the highest starting salary of a business-school major was at the Johns Hopkins Bloomberg School of Public Health at $80,000 compared to the $72,400 starting pay of an associate.
While the median income for entry-school graduates in 2018 was less than the median pay for students who had earned an associate and bachelor degree in the same year, the difference was only about $4,600.