Many professionals opt for a Master of Business Administration degree for all of the tantalizing job possibilities they can enjoy with this advanced degree. Whether you want to work in finance, accounting, management, healthcare, operations or another field, earning an MBA opens the door to many exciting careers.
Here are some of the most popular MBA jobs that graduates choose.
#1 Management Consultant
The job of a management consultant is to provide advice to companies on their business management practices and pinpoint problems within the company that could be holding them back from reaching business goals. Some management consultants work for themselves, while others work for consulting companies. The Institute of Management Consultants states that 27% of these workers are self-employed. This is a good working arrangement for many professionals with their MBA, as it offers much career flexibility combined with substantial earning potential.
The Bureau of Labor Statistics (BLS) reports the median salary for management consultants is $82,000 per year, but the most qualified and experienced workers can earn more than $120,000 per year.
#2 Marketing Manager
A marketing manager is responsible for planning and execution of an organization’s marketing plan to assist the growth of that organization. They establish budgets, plan marketing campaigns, and provide staff management to the marketing team to perform marketing research, initiate marketing campaigns, and analyze data collected from all marketing campaigns to make sales and marketing improvements. The goal of a marketing manager with an MBA is to enhance brand awareness and boost sales. Marketing managers need to have knowledge about different approaches to marketing and also know how to lead a diverse team from different organizational departments.
The Bureau of Labor Statistics reports the median salary for this field is $125,000 per year.
#3 Financial Advisor
A financial advisor works with individuals to help them to plan for major life goals, such as saving for college and retirement. A financial advisor seeks ways for their clients to increase their personal wealth with strong investment opportunities and create long-term wealth building plans. This is a good career path for an MBA in finance who wants to help consumers to become more financially savvy.
The median salary for financial advisors in the early years is in the $60,000 range, but you can eventually earn well over $100,000 per year.
#4 Operations Manager
An operations manager is responsible for the overall daily operations of an organization, including purchasing, inventory, coordination between departments and creation of policy. Responsibilities also include the hiring of employees and negotiating contracts. Many MBAs who work in this position may have specialized in supply chain management or logistics. This profession is especially growing in demand over the years because companies’ operations are spread all over the world, and the supply chain must be properly maintained for products to be delivered efficiently.
The median salary for operations managers is approximately $85,000 per year.
#5 Investment Banker
Investment bankers assist companies to invest and grow capital via smart purchases of equity and debt. They also offer detailed advice with financial transactions including acquisitions and mergers. Bankers also are charged with ensuring that all necessary paperwork has been filed and that all necessary government regulations are followed during financial transactions.
The median salary for this occupation in 2015 was $71,000 according to BLS, but the most talented bankers can enhance their salaries into the $200,000 range in a few years.
#6 Health Services Manager
The growing healthcare industry needs skilled business managers to ensure that all healthcare operations run in a smooth manner. Health service managers must ensure that companies stick to state and federal government reports for delivery of healthcare services. They provide oversight of doctors, nurses, technicians and clerical workers. In smaller healthcare facilities, they often oversee a whole facility, and in a large organization, they may manage a single department, such as finance or patient services.
These positions are becoming much more available as the patient population is getting older and needs more healthcare services. Most upper-level managers in these facilities have a master’s of business administration healthcare services or a master of health administration.
The Bureau of Labor Services states the median salary for health services managers is $96,500.
#7 Information Technology Director
IT directors are responsible for managing the computer and technology resources for companies in almost any industry. They must assure the firm’s information technical is always available and secure from hackers. IT directors also oversee the management, strategy, and execution of IT infrastructure for the organization. Earning an MBA in information technology is a great way to get your foot in the door in this growing occupation.
The median salary for IT directors in 2017 was $135,000, according to BLS.
#8 Financial Manager
A financial manager oversees financial activities and transactions of organizations. They provide oversight of cash management and investment activities. They also devise financial procedures and provide oversight of the budget process. Financial managers assist organizations to meet financial goals for the year, quarter and longer term. They also are closely involved in raising capital, handling mergers and acquisitions and assessing global financial activities.
Financial managers earned a median salary of $121,000 in 2017, according to BLS. Business students interested in this career path should explore an MBA in finance degree.
#9 Computer and Information Systems Manager
Computer and information systems managers manage and plan all computer-related activities in an organization. They also implement Internet and intranet sites, and install and upgrade software and hardware, plus handle the development of computer networks. These technical professionals also work on the maintenance and security of company computer networks. MBA students with a MBA concentration in information systems have the best chance of landing this type of job.
The median salary for computer and information systems managers was $135,800 in 2017, according to BLS.
#10 Chief Technology Officer
A chief technology officer (CTO) sets up a company’s technical vision and program, and also oversees every part of the organization’s technology development. They are responsible for managing the technology team, overseeing research and development, as well as special projects. CTOs also establish official technical standards and ensure they are adhered to. Professionals typically get a CTO position with an MBA specialized in IT management.
The median salary for CTOs in 2017 was $151,700, according to BLS.
#11 Product Manager
A product manager is responsible for ensuring a business can achieve market growth and stay profitable, often with a strict focus on a specific product. They will usually work with other managers from public relations, advertising and sales to make an effort to ensure that new products enter the market at the appropriate time.
The median salary for product managers is $121,000, according to Payscale.com.
#12 Operations Research Analyst
This professional is involved in all of the day to day activities of a company. They assist managers in deciding the best way to allocate the finite resources of the organization, come up with effective production schedules, manage the supply chain effectively and establish solid price structures. They are reliant upon complex analytical and mathematical methods to assist companies boost profitability. They also use predictive modeling, statistical analysis and economic simulations to devise the most effective solutions for the company.
Students who earn an MBA in supply chain management or operations management are best qualified for this role. The median income in this position is $75,000 per year.
#13 Business Operations Manager
A business operations manager uses their supply chain management skills and abilities in operations management to figure out how companies can overcome serious business challenges. The major focus is on how to manage a company’s global supply chain more efficiently. This, in turn, reduces costs throughout the organization. A business operations manager needs to have a thorough understanding of the intricacies of supply chain management and to be able to identify problems that need to be solved.
Business professionals in this career usually have an MBA in supply chain management. The median salary is $71,300.
#14 Market Research Analyst
A market research analyst analyzes market conditions to decide what the sales may be for a new product or service. The main function of this professional is to help companies to understand the products that customers want. They also offer information on who may purchase the products and what a potential price could be. They often also perform an analysis of a company’s market position. They may conduct detailed research on various competitors. Market research analysts must be skilled in evaluating large reams of date with various software and statistical programs.
The median salary in this specialty is $51,000 per year. The most common MBA specialty to become a market research analyst is marketing.
An accountant prepares financial and tax records for companies and individuals. These accounting professionals have the important job of making sure all financial records for business entities and consumers are accurate and paid on time. Accountants are most often responsible for assessing the financial records and tax statements of companies and increasing their financial efficiency. Public accountants must have their CPA designation, which they can earn after they earn their MBA in accounting or Master’s of Accountancy.
The median salary for accountants is $55,000. Most accountants earn their MBA in accounting or a Master’s of Accountancy. Both degrees may serve as sufficient educational background to get your CPA.
#16 Human Resources Manager
A human resources manager plans, directs and coordinates the administrative functions of a company or other organization. They are responsible for oversight, recruiting, interviewing and hiring of staff. They also consult with senior executives on the strategic planning for the organization and are a link between management and the regular employees. Human resource managers also work with the company’s top executives about its strategic planning and talent management challenges.
Job growth for human resource managers is solid in the next few years, with 9% job growth anticipated. The median salary is $110,100. Most move into this position with an MBA and a concentration in human resources.
#17 Financial Examiner
A financial examiner is responsible for ensuring compliance with the laws that government financial transactions and institutions. They are responsible for reviewing balance sheets, evaluating risk levels for loans, and generally assessing banking management issues. Financial examiners are tasked with evaluating the overall health of financial organizations. Their job is ensuring banks and other financial institutions that offer loans that are safe, and that they have cash on hand to deal with unexpected losses.
Earning an MBA with a concentration in finance is a good background for a financial examiner position. The median salary according to BLS is $81,600.
#18 Cost Estimator
A cost estimator is responsible for collecting and analyzing data so to estimate the time, money, materials and labor that is needed to produce and manufacture a product, build a building or offer a service. Cost estimators are usually specialized in a certain industry or product. This is an important job for an MBA graduate because making accurate estimates of construction and manufacturing costs is important for a business to survive. Cost estimators give managers the vital information they need to submit solid contract bids and to price products profitably.
Median pay in this field is $63,100, and many acquire these positions with an MBA in accounting or finance.
#19 Budget Analyst
A budget analyst helps private and public organizations to effectively organize their finances. They are responsible for preparing budget reports and monitoring institutional spending. Budget analysts provide financial advice to governments, universities, and businesses on better ways to organize finances. They also prepare special reports and evaluate budget proposals. Budget analysts analyze data to determine what the costs and benefits are of assorted programs. They also recommend levels of funding based upon these findings.
Median salary for budget analysts is $75,300, and they often have their MBA in finance or a related field.
An economist studies the distribution and production of resources, goods, and services, analyze data, research business trends and evaluate major economic issues. Economists apply qualitative and quantitative economic analysis to topics in many fields, including education, health, development, and the environment. Some economists focus on the study of healthcare, energy or cost of products, and others examine business cycles, employment levels, and exchange rates.
Earning an MBA in finance or economics is a good background to become an economist. The median salary is $102,400.
- Five Career Paths for MBA Graduates. (n.d.). Retrieved from https://www.ama.org/partners/content/Pages/five-career-paths-mba-graduates.aspx
- Best Jobs for MBA Graduates. (n.d.). Retrieved from https://thebestschools.org/careers/best-jobs-for-mba-graduates/