MBA Salary in USA- A Brief Guide

Before delving deeper into the approximate MBA salary in USA, you should know that the degree has immense future potential for aspirants in the country. MBA aspirants get through leading business schools before obtaining managerial or administrative positions across several companies and industries. MBAs are gateways to leadership roles and usually have higher salaries as compared to non-managerial positions. 

Factors Influencing MBA salary 

There are many factors that influence the average salary of MBA in USA. The MBA graduate salary in USA is influenced by the type (full time/executive MBA) and the field of specialization (HR, finance, information technology management, international business, etc). An MBA in finance salary in USA will naturally differ from an MBA in technology or any other field. 

If an aspirant has prior experience, then that also counts towards influencing the starting salary of MBA graduate in USA. At the same time, the geographical location and industry also influence the MBA monthly salary in USA. According to Coursera, consulting and financial services pay the highest salaries, followed by technology and health care. It also highlights how salaries are the highest at $95,694 in Washington on average, as compared to $89,875 in New York and $87,018 in New Hampshire, along with $85,331 in California, for instance. 

Highest Average Base salary in the USA

According to U.S. News and its Graduate Management Admission Council’s corporate recruiters survey in June 2021, the average salary of MBA in USA was $115,000 for 2021 recipients who accepted their employment offers. Some of the highest salaries include the following, according to U.S. News: 

Institution Average Salary & Bonus
New York University (Stern) $181,803
University of Chicago (Booth) $180,044
University of Pennsylvania (Wharton) $178,692
Stanford University (California) $176,956
University of Virginia (Darden) $176,167
Columbia University (NY) $174,114
Cornell University (Johnson) (NY) $173,185
Harvard University (MA) $172,774

U.S. News also reports how the overall average base salary along with bonus for graduates in 2021 was $105,684 amongst all 131 full-time MBA programs ranked by it. The lowest compensation for the top-ranked institutions was around $55,755 on average according to U.S. News. The report also notes how for some business schools, graduates get signing bonuses and base salaries which are either far higher or far lower than other ranked institutions. For instance, base salaries at the New York University’s Leonard N. Stern School of Business were $60-230,000 in 2021, while bonuses were $5,000-85,000. 

Average MBA Salary in the USA by Industry 

According to U.S. News, here are the industry-wise salary figures: 

Industry Name Salary
Consulting  $147,178
Financial Services $138,834
Technology $128,442
Health Care $116,250
Retail $115,485
Media/Entertainment $114,706
Energy $111,080
Consumer Packaged Goods $109,556
Real Estate  $108,831
Manufacturing $108,364
Transportation  $92,316
Nonprofit $90,381
Government  $87,675

Conclusion 

Hence, as can be seen, the average base MBA salary in USA, at $115,000 in 2021, is quite decent from a global perspective. Glassdoor reports how the average base pay for MBAs stands at ¬£29,327 per year in the UK and $68,387 per year in Canada. It is also at ‚ā¨71,407 and ‚ā¨78,725 per year in Germany and France, respectively. An MBA continues to be an immensely rewarding career in the USA with excellent future prospects across various industries.¬†

FAQs

Which MBA is highest paid in USA?

There are several business schools at leading universities where graduates get the highest salaries and bonuses. According to U.S. News, those graduating from New York University (Stern) and the University of Chicago (Booth) get salaries over $180,000 and upwards.

Is it easy to get a job in USA after MBA?

While nothing is easy in any country, the USA does offer better employment prospects for MBA graduates. The rates of employment can go up to 95% for MBA graduates in the country, which means that you will find jobs across a variety of sectors.

How much salary can I earn after an MBA in Finance in USA or Canada?

While exact figures are hard to pinpoint, you can expect anything between US$45,000-100,000 annually or even upwards with more experience.

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