It Is not surprising that additional languages will be an added advantage in the professional world. According to recent research, this study has proven to be true. US MBA students have shown to be on the higher salary earning rank after College. This research study started with curiosity. Do MBA bilingual grads make as much money as their only English-speaking counterparts?
A simple question brought about this research: a youtube commentator asked a simple yet surprising question during an interview session that John Ross, a corporate attorney, and former CPA, watched with his business partner during a short work break.
All it took was that simple question to spark up curiosity. The team members analyzed the MBA salary providing more NEWS on MBA. After the analysis, the result was not all that shocking. It was as expected compared to other fields in which Bilingual languages provide similar opportunities.
From the statistics covered, Bilingual MBA holders earn more. They even deserve more than their first post-MBA salary at 22%.
These curious people analyzed with resources from various recruitment platforms like ZipRecruiter, LinkedIn, Indeed, etc. The five major metropolitan areas in the USA were considered. The cities include New York, San Francisco, Miami, Chicago, and Los Angeles.
Then, to further the research, the MBA position vacancy was narrowed. It was narrowed down to fresh MBA holders majoring in their careers alongside other Candidates who are Bilingual. The other criteria were observing the pool around the demand for some languages like Mandarin.
About 118 job vacancies were used for this analysis. When the annual analysis was carried out, it was around $128,000. According to the Graduate Management Admission Council (GMAC), the average starting salary of $105,000 is relatively lower in standard than Bilingual MBA holders. However, the said data is almost two years old because of the effect of COVID-19 on every part of the world. It is a worthy note to know that in 2019, there was a massive drop in the average salary of an MBA holder. It can result from a spike in the number of MBA holders. This decline even took a more dip after the pandemic, making a Bilingual MBA holder’s earning more impressive in comparison.
The team looked further into the likely reason for the salary gap. It was known to be three main reasons that influenced the difference in earnings.
The first reason was the effect of the rise of the second language in the USA. Due to the increased immigration rate, the proportion of second-language speakers is on the rise. Using the population statistics from 1980, the bilingual speakers occupied 10.68%. Since then, the number has continued to rise. From the latest statistics made by ACS in 2018, the percentage has almost doubled that of 1980, having a current value of 20.55%. It equates to approximately 63 million of the total population being bilingual. English is the second language of close to 50 million residents in the USA.
These statistics significantly influence business owners because bilingual speakers have quite a number. Most management, customer service, middle man, business positions have been demanding for bilingual speakers to occupy the said position.
Secondly, if bilingual speakers occupy these positions, they’ve overruled the need for an interpreter most times. Interpreters earn pretty a lot for their services. Their hourly paratexts are between $45 to $150. It is pretty standard for organizations to find a shorter way around paying that much.
Hence the need for a bilingual worker who can serve both purposes at a more reduced cost. This is also applicable for MBA grads who can perform the role of an interpreter helping their organization save funds while being effective.
Thirdly, it helps with representation because it matters. Most organizations usually strive to care for diversity and inclusion by reducing some factors like language barriers, which is the primary thing. In addition, some benefits come from having a diverse team. Most companies that have studied this process have come to embrace it.
For these reasons stated above, being bilingual has quite an advantage. You can apply for Language learning programs like Babbel while undergoing your MBA. Being fluent in your second language is about tests, dedication, and practice. The idea of a second language is not about being the master. It is more about effective communication, which is relevant when addressing a client.
In conclusion, being bilingual gives one an edge in the professional world. So if you have intentions of exploring the professional world, you should consider starting a Language learning program early enough. Learn a second language and be fluent with it.
