Australian Institute of Business (AIB) alumni have revealed that studying an MBA provided them a greater chance of being promoted to a higher position or receiving an increase in pay.
The revelation came from AIB’s 2018 Alumni Insights Survey, which compiled data from AIB graduates from over 90 countries who completed the MBA program between 2010 and 2018.
According to the survey, 38% of respondents who graduated in 2018 have already been promoted, and 70% of those who sought out a salary increase feel that the AIB MBA helped them achieve this.
More than 46% of respondents said they received a raise in their pay during their studies or within a year of graduating, and 84% experienced an income increase of at least 10% while studying or after graduating.
“Our primary focus at AIB is to help our students achieve the goals they set for themselves through their studies, so it is wonderful to see these outcomes being achieved by our former students,” AIB CEO Paul Wappett said.
The survey’s results help to illustrate facts previously highlighted by MBA News regarding the increased earning potential that comes as a result of attending business school. The 2018 Graduate Outcomes Survey – Longitudinal (GOS-L), for example, compiled 39,744 surveys from 60 Australian institutions and revealed Business and Management experienced one of the highest salary increase of all, rising $15,000 since 2015.
Medical Device Sales Consultant Chloe Brown said she received a promotion while studying an MBA at AIB, after completing a Bachelor of Science and working in the field for a few years.
She said her pursuit of an MBA was fuelled by the desire to expand her business acumen, and that AIB’s MBA program offered the flexibility she needed for her busy lifestyle and obscure working hours.
“All while giving me the confidence to break into the very niche medical device industry, double my income and use my newfound strategic and analytical skills.”
According to the survey, more than 40% of AIB graduates in 2018 graduates reported they were utilising between 60% and 100% of their AIB MBA, illustrating the practical applications of the program’s curriculum and its relevance to current business climate.
“The results achieved by our students are a testimony to their hard work and dedication, and we’re thrilled to have played a part in their life changing experiences,” Mr Wappett concluded.