Minnesota Business Degree Salary

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Posted On: June 25, 2018 by Henry R. Steele

The following article discusses the salary and career outlook for graduates with a MBA, Graduate or Undergraduate Business degree in Minnesota. Learn about the demand, salary outlook, top employers, job titles, as well as education options for campus and online Business degree programs for graduates in Minnesota.

Business Snapshot

Avg US Salary

$70,129

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Avg Minnesota Salary

$65,857

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State vs National

Ranked 26th

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Total Job Postings

6,515

Job Type

Full-Time

Min Education Level

Bachelor’s Degree

Recommended Degree

Masters or MBA

Most Common Degree

Business/Management

Most Common Experience Level

Mid Level

*Data based on job title of Business Development Manager

Minnesota Business Demand

US News and World Report states that Minnesota featured the second-highest labor force participation rate in the US in 2015. The healthcare industry was the biggest employer of business and medical professionals. The Mayo Clinic, a major hospital and medical research system in the US, is based in Rochester and was the top employer in the state in 2017.

Other major industries in the state are manufacturing and retail trade, which involve many Fortune 500 companies, including Target, UnitedHealth, 3M and General Mills. Target has its headquarters in Minneapolis and is the sixth largest employer in the state as of 2017. The biggest cities in the state are Minneapolis and St. Paul and are ranked #17 on US News’ Best Places to Live, due to its low cost of living and ample business job opportunities. The unemployment rate here is only 3.1%, good enough for #12 in the US.

National Business Salary Outlook

The national average estimate for Business Development Manager was $70,129. This number is estimated from over 18,908 salaries and job advertisements from Indeed.com. This equates to an hourly salary of $36.530 and monthly of $5,844.

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$14,000

$176,000

Salary Distribution

Minnesota Business Salaries by Career

The following Business career paths show the average salary derived from job postings in Minnesota.

Finance Manager$84,107 Rank: 16th
The average salary ranks 16th among states in the country. This equates to an hourly salary of $43.810 and monthly of $7,009. There were job openings from employers like United States Postal Service, Wells Fargo, Robert Half Finance & Accounting, and Hardee’s | DORO Incorporated | Northland Restaurant Group LLC. Further, 87% of these employers were seeking Full-time workers. Others such as Contract, Internship, Part-time, Temporary, Commission were also available. Most jobs for Finance Manager required an applicant to have Mid Level experience.

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$26,000

$175,000

Salary Distribution
Business Analyst$74,071 Rank: 18th
The average salary ranks 18th among states in the country. This equates to an hourly salary of $38.580 and monthly of $6,173. There were job openings from employers like U.S. Bank, TARGET, Cargill, and Medtronic. Further, 84% of these employers were seeking Full-time workers. Others such as Internship, Temporary, Part-time, Contract, Commission were also available. Most jobs for Business Analyst required an applicant to have Mid Level experience.

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$22,000

$155,000

Salary Distribution
Business Consultant$71,063 Rank: 7th
The average salary ranks 7th among states in the country. This equates to an hourly salary of $37.010 and monthly of $5,922. There were job openings from employers like Office Depot OfficeMax, Accenture, FRATTALLONE’S HARDWARE STORES, INC., and Palm Beach Tan – Northern States, A Palm Beach Tan Franchisee. Further, 75% of these employers were seeking Full-time workers. Others such as Temporary, Internship, Part-time, Commission, Contract were also available. Most jobs for Business Consultant required an applicant to have Mid Level experience.

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$22,000

$147,000

Salary Distribution
Business Development Manager$65,857 Rank: 26th
The average salary ranks 26th among states in the country. This equates to an hourly salary of $34.300 and monthly of $5,488. There were job openings from employers like Domino’s Pizza | Dough Management, CVS Health Retail, Medtronic, and WALGREENS. Further, 85% of these employers were seeking Full-time workers. Others such as Temporary, Part-time, Contract, Internship, Commission were also available. Most jobs for Business Development Manager required an applicant to have Mid Level experience.

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$14,000

$163,000

Salary Distribution
Business Operations Manager$61,907 Rank: 15th
The average salary ranks 15th among states in the country. This equates to an hourly salary of $32.240 and monthly of $5,159. There were job openings from employers like WALGREENS, PETSMART, Taco Bell – Border Foods | Border Foods, and UnitedHealth Group. Further, 88% of these employers were seeking Full-time workers. Others such as Temporary, Commission, Part-time, Internship, Contract were also available. Most jobs for Business Operations Manager required an applicant to have Entry Level experience.

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$18,000

$131,000

Salary Distribution
Chief Operating Officer$129,232 Rank: 6th
The average salary ranks 6th among states in the country. This equates to an hourly salary of $67.310 and monthly of $10,769. There were job openings from employers like Jo-Ann Fabric and Craft Stores, UnitedHealth Group, Pentair, and Meridian Behavioral Health. Further, 84% of these employers were seeking Full-time workers. Others such as Contract, Commission, Part-time, Internship, Temporary were also available. Most jobs for Chief Operating Officer required an applicant to have Mid Level experience.

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$24,000

$318,000

Salary Distribution
Human Resources Manager$74,827 Rank: 6th
The average salary ranks 6th among states in the country. This equates to an hourly salary of $38.970 and monthly of $6,236. There were job openings from employers like United States Postal Service, Lids, Papa Murphy’s Pizza, and Papa Murphy’s. Further, 86% of these employers were seeking Full-time workers. Others such as Contract, Temporary, Internship, Commission, Part-time were also available. Most jobs for Human Resources Manager required an applicant to have Mid Level experience.

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$28,000

$143,000

Salary Distribution
Marketing Manager$70,338 Rank: 6th
The average salary ranks 6th among states in the country. This equates to an hourly salary of $36.630 and monthly of $5,862. There were job openings from employers like Medtronic, Advantage Solutions, Domino’s, and UnitedHealth Group. Further, 83% of these employers were seeking Full-time workers. Others such as Temporary, Part-time, Contract, Commission, Internship were also available. Most jobs for Marketing Manager required an applicant to have Mid Level experience.

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$17,000

$160,000

Salary Distribution
Operations Manager$62,342 Rank: 17th
The average salary ranks 17th among states in the country. This equates to an hourly salary of $32.470 and monthly of $5,195. There were job openings from employers like Family Dollar, Perkins & Marie Callender’s, LLC, Starbucks, and PETSMART. Further, 84% of these employers were seeking Full-time workers. Others such as Internship, Contract, Temporary, Commission, Part-time were also available. Most jobs for Operations Manager required an applicant to have Entry Level experience.

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$14,000

$154,000

Salary Distribution
Product Manager$86,967 Rank: 26th
The average salary ranks 26th among states in the country. This equates to an hourly salary of $45.300 and monthly of $7,247. There were job openings from employers like Boston Scientific Corporation, Boston Scientific, Pentair, and SICK, Inc.. Further, 93% of these employers were seeking Full-time workers. Others such as Contract, Part-time, Commission, Internship, Temporary were also available. Most jobs for Product Manager required an applicant to have Mid Level experience.

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$28,000

$177,000

Salary Distribution
Project Manager$69,455 Rank: 39th
The average salary ranks 39th among states in the country. This equates to an hourly salary of $36.170 and monthly of $5,788. There were job openings from employers like University of Minnesota, Waste Management, Accenture, and Lunds & Byerlys. Further, 84% of these employers were seeking Full-time workers. Others such as Part-time, Commission, Contract, Internship, Temporary were also available. Most jobs for Project Manager required an applicant to have Mid Level experience.

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$20,000

$148,000

Salary Distribution
Sales Manager$70,269 Rank: 7th
The average salary ranks 7th among states in the country. This equates to an hourly salary of $36.600 and monthly of $5,856. There were job openings from employers like Domino’s Pizza | Dough Management, Lunds & Byerlys, Papa Murphy’s Pizza, and PETSMART. Further, 82% of these employers were seeking Full-time workers. Others such as Part-time, Commission, Internship, Contract, Temporary were also available. Most jobs for Sales Manager required an applicant to have Entry Level experience.

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$15,000

$166,000

Salary Distribution

Best Cities for Business in Minnesota

The following list of Minnesota cities show the largest number of job postings for Business careers:

City # of Employers Average Salary
Minneapolis 80 $77,836
Hopkins 36 $50,357
Saint Paul 21 $64,039
Edina 16 $69,202
Mankato 13 $48,379
Alexandria 11 $26,726
Rochester 11 $63,703
Two Harbors 11 $80,000
Albert Lea 9 $44,725
New Ulm 9 $44,725
Brooklyn Park 6 $49,482
Owatonna 6 $51,176
South Saint Paul 6 $28,262

Top Minnesota Employers for Business

The following list analyzes the top employers in Minnesota hiring students and professionals in the business, management and executive fields:

Employer Name Average Salary

Minnesota Campus-Based Business Degrees

The following campus-based colleges offer Business degrees for Minnesota students:

The University of Minnesota offers a full time MBA that is hands on, rigorous and global. It was one of the first business schools to offer experiential learning as a standard part of the curriculum. The Carlson Business School is one of the country’s leaders in preparing students to face the many complicated challenges of the modern global marketplace.

In the Carlson School Enterprise Programs, students take on real business projects for paying businesses that can range from nonprofit organizations to Fortune 500 companies. Students work in small teams where all students are held accountable. Each business student will receive individualized coaching from the dedicated professionals who run these enterprises. Students will stand in front of senior managers and deliver business solutions that affect these organizations. The enterprise programs you can choose from are brand enterprise, consulting enterprise, funds enterprise and ventures enterprise.

With two, semester-long projects that span the two years of your MBA program, the Enterprises gives you an important advantage in your education. You will be prepared for a business internship and then you will be able to apply lessons from your summer work to a new business project.

Specializations available are entrepreneurship, finance, IT, management, marketing, medical industry and supply chain.

Minnesota Online Business Degrees

The following online-based degree programs are available for Minnesota business students.

Disclaimer: All salary numbers and figures are will vary depending on several factors such as level of education, college/university attended, amount of experience, industry, company size and location.

Sources: Sources for the above salary, employer and jobs data was aggregated through Indeed.com and BLS.gov

Henry R. Steele
Henry R. Steele
Managing Editor
Henry is Managing Editor of BusinessStudent.com. He is a seasoned business professional who regularly consults with local business's throughout Southern California. Henry pursued his undergrad in Business and Economics at the University of San Diego and gained valuable life changing experience through a unique internship upon graduation.Follow on Twitter.com

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