While an MBA can be beneficial for aspiring CEOs, it is not a strict requirement. Many successful CEOs have achieved their positions through a combination of relevant experience, other educational paths, and inherent leadership abilities. Ultimately, the best path to becoming a CEO depends on your individual career goals, industry, and personal strengths.
According to MBA Central, 1/3 of Fortune 500 Companies have CEOs who have an MBA. The WSJ claims that 40% of CEOs at top companies hold MBAs. Only 23% of retail industry CEOs have MBAs. Finance firms top the list- at 55% of CEOs holding MBAs
If you’re making a career pivot (or want this flexibility in the future) If you want to accelerate your ascent to the top, expand your network, to learn foundational knowledge that will help you tie all the pieces together
Bill Gates |
Co-founder of Microsoft, dropped out of Harvard. |
Steve Jobs |
The co-founder of Apple did not complete college. |
Mark Zuckerberg |
Co-founder of Facebook, dropped out of Harvard. |
Richard Branson |
The founder of Virgin Group did not attend college. |
There is a notable difference in the salary structure of a candidate's pre- and post-MBA degree. Depending on your choice and interest in the field, you can choose to form a career in finance, marketing, administration, or business. Directing on concentrations and specific fields in business administration, the prime industries that offered higher salary differences pre and post-MBA were Doctor/Physician, Customer Support, and Architecture.
Function |
Pre-MBA |
Post-MBA |
Difference |
Percent Difference |
Architecture |
?7132550.00 |
?12838590 |
?5706040 |
80.00% |
Doctor / Physician |
?4279530. |
?8469903.13 |
?4190373.87 |
97.92% |
Research |
?5204148.85 |
?8975108.77 |
?3770960.64 |
72.46% |
Customer Support |
?3958565.25 |
?7678190.08 |
?3719624.83 |
93.96% |
Consulting |
?6159848.49 |
?9392811.59 |
?3232962.38 |
52.48% |
Human Resources (HR) |
?4630320.93 |
?772067.55 |
?3081746.61 |
66.56% |
Investment Management |
?5979923.50 |
?8992380.96 |
?3012456.74 |
50.38% |
Marketing |
?4892509.91 |
?7843155.26 |
?2950644.64 |
60.31% |
Private Equity |
?6903967.46 |
?9720975.22 |
?2817007.76 |
40.80% |
Product Management |
?6229220.39 |
?8995035.69 |
?27658155.30 |
44.40% |
The opportunities in salary growth increase, if you hold degrees in specific fields (like consultancies or communications) and then pursue a master’s in management or business administration. As per a report, top industries in the Consulting, FMCG, Investment Management, Technology, and E-commerce sectors offer the most leading differences in salaries pre and post-MBA.
Industry |
Pre-MBA |
Post-MBA |
Difference |
Percent Difference |
Consulting |
?6147370.81 |
?9457865.44 |
?33104393.91 |
53.85% |
Food, Beverage, & Tobacco |
?4498482.88 |
?7440618.39 |
?2942135.51 |
65.40% |
Investment Management |
?5886620.47 |
?8657208.17 |
?2770587.69 |
47.07% |
Private Equity |
?7017986.27 |
?9709707.93 |
?2691721.66 |
38.35% |
Technology, Internet, & E-commerce |
?6072240.10 |
?8694388.72 |
?2622148.63 |
43.18% |
The MBA and the self-belief are two separate requirements- one is tangible and the other is intangible. But it’s clear when someone doesn’t believe in themselves by subtle cues they inadvertently exhibit. They downplay their contribution when they are publicly recognized and don’t seize the opportunity to present in a high-stakes meeting, don’t voice their desire to get promoted- they wait for others to recognize their contributions, can’t articulate how they contributed to the success of a project
Ques. Is an MBA essential to becoming a CEO?
Ans. No, an MBA is not a mandatory requirement for becoming a CEO. Many CEOs have reached the top without one. However, a significant portion holds some kind of advanced degree.
Ques. Can you give some examples of successful CEOs without MBAs?
Ques. So, should I get an MBA if I want to be a CEO?
Ans. There's no one-size-fits-all answer. Consider your background, goals, and resources: