When should I study my MBA?
31 December 2015
So, you’re thinking about postgraduate study in business, but don’t know whether to get stuck in or wait. Deciding when to undertake a postgraduate degree can be difficult. You want the timing to suit your lifestyle, but you also want to fast track your way to better job prospects and more attractive salaries.
Boost your earning potential at age 30
Research on graduate salaries proves that paychecks increase each year after graduation until you reach the age of 30 (Bloomberg, 2014). After the age of 30, however, salaries plateau. Consequently, a 30-year-old Master of Business Administration graduate is much better placed to command a higher salary compared to graduates of the same age without any postgraduate qualifications. Research also suggests that an MBA graduate with previous work experience will attract a salary 81 per cent higher than those of the same age without an MBA qualification (Graduate Careers Australia, 2015).
Experience and study in your late 20s is key
Combining MBA study with workplace experience while you’re in your mid-to-late 20s is a recipe for success. You might be tempted to go straight from your undergraduate course to postgraduate to complete your studies as quickly as possible – but professional experience will benefit you in the long-term. Alternatively, if you want to dive into MBA study, consider juggling study and working in a relevant role part-time – you’ll gain invaluable exposure to real world workplace environments while plugging away at a degree that could potentially be a potential future goldmine.
With the right skill set, you’ll graduate in your 30s ready to take on the world – and potentially make almost double the earnings of your counterparts. To find out more, speak to our student enrolment advisors on 1300 589 882 today.