One of the benefits of receiving an MBA is the increased career prospects and income potential. It's reasonable to wonder, "What career chances are there following MBA school?" since the MBA is a degree that requires a lot of hard effort. Fortunately, opportunities for MBA graduates abound, as businesses of all sizes value and require the experience that an MBA brings. "What jobs can I obtain with an MBA?" you may wonder. Here's a look at some of the highest-paying positions for MBA grads.
Listed below are the highest-paying specializations of MBA:
- Business Analytics
- Information Technology
- Real State
- Consulting/Corporate Strategy
- Innovation Management
- Cybersecurity/Information Security
- Investment manager
Let us discuss each of them in brief:
1. Business Analytics – $126,000
Business analytics specialists are among the highest-paying MBA specializations in today's corporate world. A business analytics degree allows graduates to specialize in various fields, such as cost estimators, financial analysis, statisticians, and marketing research analysis, to mention a few.
Business analysis is the systematic study of data provided by operations and statistical sources. Students who earn a degree in business analytics study models and predictors in depth to obtain the knowledge needed to take firms ahead.
According to the Bureau of Labor Statistics (BLS), the employment market for business analytic degree holders (aka management analysts) is pretty robust, with expected job growth of 14% through 2028, far faster than the average of all U.S. occupations combined.
Over the following decade, this 14% job increase would create more than 118,000 additional business analyst roles. At the same time, the median compensation for management analysts was $85,260 in 2018; individuals at the top of the pay range made over $155,000 in the same year.
2. Information Technology – $110,000
Information Technology is an MBA concentration that provides graduates with many professional opportunities. A Computer & Information Research Specialist is the highest-paying MBA specialism within the Information Technology specialization.
Network architects, systems analysts, database administrators, web developers, security analysts, and software developers are some more employment opportunities for persons with information technology degrees.
According to the Bureau of Labor Statistics, information technology professionals will rise at a 12% annual rate until 2028. A 12% increase in employment substantially surpasses the national average for all occupations combined.
A computer and information research scientist has the highest median annual compensation, surpassing $118,000. Computer network architects make around $110,000 annually, whereas software developers make $105,590 on average. Database administrators make a median annual pay of $90,070, while information security experts
3. Real Estate – $102,000
The Master of Business Administration specialization in Real Estate is one of the top-paid MBA specializations, with several career opportunities. Appraisers, operations researchers, investment analysts, and community association managers are all examples of real estate management professions. MBAs with real estate degrees may also find satisfying professions as sales professionals or investors.
The federal government's Bureau of Labor Statistics (BLS) provides job growth projections for various real estate professional specialities. According to the BLS, real estate sales professionals, managers, and appraisers should expect a 7% increase in work opportunities over the next 10 years.
This expected growth rate is above the national average across all occupational categories. The typical annual salary for community association managers was $58,340; however, individuals at the top of the pay range as community association managers make close to $130,000. In 2018, the median yearly income for real estate appraisers was $54,980.
4. Entrepreneurship – $100,000
MBA graduates specializing in entrepreneurship will discover as many work prospects as their ingenuity and imagination will allow. Entrepreneurs have a crucial role in the US economy regarding employment generation and growth.
An entrepreneurship MBA major can find a fulfilling job as a mid-level manager, sales consultant, business consultant, business report, or one of the numerous subspecialties in research and development, as one of the highest-paying MBA specializations.
The industry and the specific role of the entrepreneur determine job growth for persons with an MBA with an entrepreneurship specialization. According to careerexplorer.com, the median wage for entrepreneurs is around $43,000. However, the top 20% of entrepreneurs, often those in senior management positions, receive annual incomes over $133,000.
5. Economics – $99,000
Individuals who complete a Master of Business Administration (MBA) program with a degree in economics have several job options. MBA majors provide work chances, making economics one of the highest-paying MBA specializations accessible.
Market research, economic consultancy, benefits and compensation, credit analysis, actuarial science, policy, finance, and legal are just a few of the specialities available to people with an MBA in economics.
According to the BLS, professionals with an MBA economics degree - working as an economist - may expect job growth of roughly 8% over the next decade, slightly faster than all other U.S. jobs combined. According to the BLS, economists earned a median income of $104,340 in 2018, actuaries had a median pay of around $108,000, and financial analysts earned a median annual salary of $85,660 in 2018.
6. Consulting/Corporate Strategy – $98,000
MBA graduates with a corporate strategy or consulting degree have several employment options. Corporate strategy is one of the most lucrative MBA specializations in the business school industry.
Management analysts, event planners, training specialists, and human resources managers are some jobs available to corporate consultants. Accounting, administration, operations, finance, and research are some of the fields in which MBA consultants operate.
The selected area and the specific professional role determine job development for corporate consultancy experts. Administrative managers made a median pay of $96,180 in 2018, with job growth anticipated to be 7% over the next decade, faster than the national average.
Economists earned a median annual pay of $104,340 in 2018, with job growth expected to be about 8% over the next ten years. For the calendar year 2018, financial consultants made around $127,000.
7. Finance – $98,000
Earning an MBA with a finance concentration is a highly sought-after degree and one of the highest-paying MBA specializations accessible to business majors. A finance MBA student can pursue fulfilling employment in various industries, including insurance, asset management, taxes, international finance, and tax planning, to mention a few. Operations managers, analysts, logisticians, vendor managers, product developers, and consultants are just a few jobs available to MBA finance students.
Earning an MBA with a finance concentration is a highly sought-after degree and one of the highest-paying MBA specializations accessible to business majors. A finance MBA student can pursue fulfilling employment in various industries, including insurance, asset management, taxes, international finance, and tax planning, to mention a few.
Operations managers, analysts, logisticians, vendor managers, product developers, and consultants are just a few jobs available to MBA finance students.
8. Innovation Management – $98,000
One of the highest-paying MBA specializations for business majors is that of an innovation manager. Innovation managers hold several merchandising and planning departments of a corporation accountable.
Ad writers, graphic artists, and promotion managers are responsible for developing corporate endeavours, and innovation managers supervise them. Marketing, project management, and brand development are common specializations for innovation managers.
As of March 2020, the average yearly compensation for innovation managers was over $113,000, according to salary.com. However, the wage range for innovation managers begins at about $98,000 and ends at around $135,000.
Salary increases for innovation managers when they earn further education, abilities, and certifications. According to Indeed.com, the average income for an innovation manager is more than $98,000. According to the Bureau of Labor Statistics, professional marketing managers earn a median yearly pay of $136,850.
9. Cybersecurity/Information Security – $97,000
An MBA specializing in cybersecurity or information security is one of the highest-paying MBA specializations, with a wide range of career prospects available to graduates. An MBA with a degree in information security can work as a system administrator, network security analyst, firewall administrator, network troubleshooter, security manager, and information security policy analyst, among other things.
Information security analysts make a median annual pay of $98,350, with 32% job growth expected over the next ten years, much faster than all other careers in the United States combined. In 2018, the United States employed over 112,000 information security specialists.
Over the next 10 years, a 32% growth rate will generate more than 35,000 cybersecurity positions. According to the Bureau of Labour Statistics, Computer Network Systems Analysts had a median annual pay of $82,050 in 2018.
10. Investment Management – $96,000
An investment manager controls an investment portfolio's investment decisions and performance. MBA graduates with an investment management specialization are frequently among the highest-paid MBA specializations available to business majors.
Money managers and portfolio managers are other terms for investment managers. Money managers are fiduciaries because they must prioritize the performance and interests of a portfolio over their own.
The Bureau of Labor Statistics (BLS) publishes employment statistics for investment managers who are financial managers. According to the BLS, the median annual compensation for financial managers in 2018 was $127,990, or $61.53 per hour.
Financial manager employment growth is expected to be 16% over the next decade, substantially quicker than the national average. According to the BLS, personal financial managers earned a median salary of $88,890 in 2018, while financial analysts made $85,660.