Business degrees are among the most rewarding and sought after degrees around the world. Bloomberg Businessweek and Forbes annually update their lists of top business schools, lending more credence to the importance of obtaining a business degree. Of all the degrees and qualifications available to aspiring professionals, one of the most prestigious is the Master of Business Administration (MBA) degree. Earning an MBA has numerous advantages, especially when it comes to the salary you might earn in the future.

First of all, for those who are just entering the job market with an MBA, it’s almost immediate. According to a recent study published by the Graduate Management Admission Council, around 72% of MBA graduates reported receiving a salary increase of 40% or more within three to six months of receiving their degree. What’s more, the median MBA salary almost doubles when you compare the difference between the median salaries of MBA holders compared to those with a bachelor’s degree in most industries—an impressive statistic for any job-seeker.

In terms of longer-term salary expectations, the growth potential for MBA holders is tremendous. In fact, the same GMAC study found that MBA holders saw an increase in their median salary— post-degree