The Graduate Management Admissions Council just released their 2012 application survey and posted a great article discussing the specialized business degree, its growth and future prospects.

For the 5th straight year, master in finance, master in accounting, master in management and other specialized masters programs have had increased application and attention. The GMAC looked at 117 programs, representing  nearly 32,000 applicants.

Some great take away’s are the average starting salary for specialized masters students, $62,500 which is 25% higher than median salary for those with bachelor degrees.

Motivations

  • All master’s candidates are looking to pursue graduate management education to increase their job opportunities; develop general business knowledge, skills, and abilities, and increase their salary potential. Prospects for management programs are also looking to develop their managerial and leadership skills.
  • Quantitative master’s candidates for accounting and finance programs are both looking to accelerate their career path with a graduate management degree. Unique to each is the accounting prospect’s desire to obtain professional credentials or credibility, compared with the desire of finance candidates to have the opportunity for more challenging and interesting work.

Ever year I see more students apply for a specialized masters, more schools offer it and more employers recognize these degrees. My personal experience completely agrees with what the GMAC has found and I think it is great that these degrees are getting more attention. It benefits all of as who have one of these degrees and helps those who are thinking of pursuing one these programs.