Continuing your education pays. You will receive a higher income, whatever your course of study. The average increase is 36 percent. These are the figures that emerge from a survey of the labour market by BI Norwegian School of Management.

The survey, which was held in 2006, covered students following post- experience studies for Master of Management, MBA, Executive MBA and Bachelor of Management. Participants were interviewed before starting at BI, and again after they had completed their studies. A full 94 percent said they had received a higher income and other additional benefits as a result of their education.
                                     

Increased earnings

The average increase in earnings for all types of students was 36 percent. Those taking MBAs saw their incomes rise by 47 percent, an increase of NOK 172,224 per year. But Bachelor’s degrees also pay off: students on these courses can increase their incomes by 44 percent.
 
Average annual income for all students in further and higher education:
 • Before studying: NOK 439,030
 • After studying: NOK 597,422
 • Increase in NOK: 158,392
 • Percentage increase: 36

“The young people who pursue further or higher education are ambitious. The ability to study and work simultaneously demonstrates a high capacity for work and a desire to ‘do better’. They are also very resourceful and know their own worth. In a tight labour market where there is heavy demand for qualified workers, these people are especially attractive.       
“Employers are having to make extra efforts to retain good staff, and this forces salaries up,” says Glenn Ruud, Director of Studies.
    

MBA students best

                                     
Most noticeable are the overall increases in pay received by MBA students, including bonuses and commission. These can look forward to receiving 64 percent more income when they finish studying. Master of Management students do almost as well, gaining an extra 60 percent.
                                      
Increases in income and bonuses/commission for selected courses of study:
 • MBA – Before: NOK 419,386. After: 687,055. Increase in NOK: 267,669. Percentage increase: 64
 • Master of Management - Before: NOK 422,839. After: NOK 677,838. Increase in NOK: 254,999. Percentage increase: 60            
 • Bachelor of Management – Before: NOK 356,981. After: NOK 546,270. Increase in NOK: 189,289. Percentage increase: 53
Exchange rate: 1 Euro - 8 NOK