A recent report released by CNN confirmed that the average salary of college graduates increased by 3.4 percent over last year, but how this will affect those who are looking for computer science MBA jobs is yet to be determined. Outside of expanding your knowledge, one of the primary reason for advanced studies is to improve your earning potential.
According to the report by CNN, computer science majors can expect to earn an annual salary of $59,221. How does this translate for graduate MS and MBA computer science graduates? Many graduates that hold advance degrees in computer science want a clear gauge on their earning potential while those who are considered advanced degrees would like to know if it’s worth it.
Working Your Way Up
There is not a significant difference in the starting salaries of a computer science major with a Bachelor’s degree and one with a Master’s degree. The average starting salary for a computer science major with a Master’s degree ranges from $51,687 to $92,051, depending on the particular job description. Where the benefit actually comes in for the graduate holding the Master’s degree is in the long term room for growth in position and salary. Where the average graduate holding a bachelor’s degree will top at around $75 to $80 thousand, the person holding the Master’s degree in computer science will have much more room to grow. Top end salaries for those who have earned Master’s degrees in computer science can extend as high as $146,719.
Taking the Right Path
It is not simply the possession of a Master’s degree that will ultimately set the limits to your earning potential. There are two very powerful variables that you should give some serious consideration. The school through which you earn your degree will play an immense role in setting the base line for your starting salary. It is no secret that certain schools carry more prestige and weight than others. This does not mean that you have to attend MIT or an Ivy League school. It simply means that you should take the time to learn as much as you can about the computer science programs of any school you are considering attending. If you have already chosen a school, you will want to choose a computer science discipline in which that school ranks high. The direction you take will also be a significant determining factor in the amount of money you will be offered by potential employers. Software developers with a Master’s degree stand to earn the least on the way in at $51, 687. While principal software engineers earn an average starting salary of $92,051.
Landing the Right Company
The company that you work for is also going to determine how much you will be able to expect initially as well as how much you can expect over the course of your career with the company. Many smaller companies will not be able to offer salaries that can compete with the industry median, but they may be your only viable option at the time. Smaller companies normally allow lateral thinkers to have more freedom. Your opinions will probably carry more weight as well. There is always the possibility that the company will grow along with your earning potential. You can always use a smaller company to build your resume and reputation – a great way to increase your earning potential. There are some high paying computer science MBA jobs out there; you simply have to position yourself to secure one.Considering this career? Take a look at the “Top 10 Best Online Schools for Computer Science Degrees 2014“.