We know that studying for a graduate business degree is a great way to potentially boost your future salary. Business grads can access some of the highest-paying careers out there and could see an average salary of €50,000 or more. Additionally, 77% of business grads say that their degree helped them to increase their earnings power. But are there more ways to increase your earnings potential while at business school?
In fact, there are things you can do while attending a business school that will increase your chances of a high salary after graduating. From the best clubs to join to networking with your peers, these are the five best ways to increase your earnings potential while at business school.
How to Increase Your earnings Potential While at Business School
1. Network More
Business school is an extremely valuable place to gain new connections. Your classmates will hail from a variety of industries, companies, and countries around the world, and they may be able to recommend you for a new job after graduating.
Personal recommendations also go a long way to securing a prestigious position. If a classmate, or even a professor, can recommend you to a recruiter, you may find that you are offered a higher salary than if you went through a traditional recruitment process. They can speak to your business and personal skills and vouch for you, leading to a higher chance of a good salary afterwards.
2. Join A Club
There are plenty of clubs at business school, all of which will have exclusive links to local and international companies.
For example, one of the most popular clubs at business school is a consulting club. Consulting firms hire 20% of all business graduates, so it’s a popular route for many students. Joining a consulting club will give you opportunities to practice your consulting skills through case studies and larger competitions.
Clubs in general will also give you access to a large alumni community, who will be able to help you with the specifics of interviewing and salary negotiation in your chosen industry. All this means you increase the likelihood of a higher salary in your first post-graduate job.
3. Complete an INternship
An internship is one of the easiest ways to increase your earnings potential while at business school. Internships are usually included as part of a business program, but you may also be able to complete one outside of your program during the summer months.
An internship will give you the opportunity to test your business skills in a real environment and pick up additional expertise in a specific area. It will also put you in touch with real companies and recruiters, who may be able to recommend you for a real job after you graduate.
4. Gain Niche Expertise
Gaining expertise in a niche area can also help you to increase your earnings potential after business school. Careers in innovative industries like fintech, health tech, AI, or computing may come with higher salaries because they require highly specialised graduates.
If there is an area of business you’re already interested in, try finding a program that has an in-depth specialisation in the same subject. For example, MBA programmes often have a variety of specialisations you can follow. Alternatively, you could study a more specialist Master’s programme in your chosen area.
Developing specialist knowledge can help show employers that you are an extremely valuable hire, increasing your earnings potential.
5. Embrace Opportunities
Business school comes with lots of opportunities to meet people and put your skills to the test. In order to better your resume and set yourself on the path to high-paying jobs, you should be taking advantage of every opportunity that comes to you.
For example, if the opportunity arises to lead a group project, take it! The same applies to taking part in a business competition, giving an important presentation, or attending networking events in your local area.
While good salaries are almost guaranteed after a business degree, there are ways that you can boost your earnings potential. Follow our tips and you’ll be well on your way to a high salary in your business career!
Still not sure what to study at school? Check out our article on how to choose the right university course.