Many career opportunities are open to professionals with a master’s of Business Administration (MBA). As such, it is your ticket to landing jobs with better rewards and more options for career advancement. The best jobs for MBA grads cut across a variety of industries providing access to executive roles and managerial positions.
If this is your career goal, our list comprising the highest-paying jobs for MBA Grads will help you narrow your options. We have also highlighted some tips that will propel you towards your professional goals after graduating from business school.
What Are MBA Grads?
Master of Business Administration (MBA) graduates are professionals who have completed a graduate degree program in business administration or investment management. After undergoing training, they obtain an advanced degree and have practical knowledge of business management.
As such, these graduates are ready to work in business administration and may search for jobs as management consultants, business operations managers, and more.
What Jobs Are Available to MBA Grads?
An MBA degree is versatile, though business school graduates often occupy managerial and executive positions in an organization. A sea of opportunities await MBA grads in management consulting, corporate finance, information technology, healthcare, and marketing management positions. While proficiency in technical skills is relevant for these roles, your interpersonal skills are equally important.
A business degree places you in high demand and increases your credibility to employers. It is no wonder that CBS News reports an MBA as the most popular master’s degree amongst men and women. Although each person’s specialization will vary, there is no doubt that a degree in business administration is relevant in every sector.
Companies That Hire MBA Grads
- Amazon. This iconic multinational corporation specializes in offering technological services like electronic commerce, cloud computing, and artificial intelligence.
- Boston Consulting Group. This global management consulting firm provides expert advice to corporations worldwide in general management, innovation, and value creation.
- Google. This technology company specializes in organizing the world’s information by providing various internet services and products, including hardware, software, and a search engine.
- McKinsey and Company. To assist companies in understanding the dynamics of the global economy, this organization provides expert advice on business strategies and management consulting services.
- Deloitte. This company offers a variety of advisory and consulting services to firms globally, including audit and assurance, risk advisory, and legal services.
10 Highest-Paying Jobs for MBA Grads
|Top 10% Salary
|Chief Technical Officer
|Chief Executive Officer
|Chief Financial Officer
|Business Intelligence Analyst
|Human Resources Manager
A degree in business administration is worth having. It will open many doors for you in the corporate world. More so, it qualifies you for top positions, equips you with high-value industry skills, and affords you great compensation to achieve your financial goals. Learn more about the highest-paying jobs for MBA grads below.
Chief Technical Officer (CTO)
Chief technical officers coordinate the development and integration of technology into business operations. They work to satisfy customers and clients using technological principles and maintain compliance with objectives. Business school grads will have a competitive edge but they must be proficient in relevant technical skills to land this role. Their expertise will bridge the gap between the technical world and the business world.
Chief Executive Officer (CEO)
Chief executive officers are in charge of the entire operation of a company. They maintain the overall structure, oversee business strategies, and maintain communication with board members and stakeholders. Aside from having an MBA, your level of experience is critical to becoming a CEO. In addition, exceptional management skills and business experience are essential in this position.
Chief Financial Officer (CFO)
Chief financial officers occupy the highest rung of the financial ladder in an organization. They plan budgets and monitor the expenditure of a company while factoring in business priorities. The Association of Certified Financial Officers highlights that CFOs must have a deep understanding of business, financial foresight, financial models, and a reliable perspective on risk management.
Product managers draw a connection between business objectives and customer needs. They develop, manage, and implement ideas using model strategies to provide value to customers. Since it is a managerial position, you will employ your leadership skills to organize teams to build new products and improve existing ones. This position also requires critical thinking skills.
Information Technology (IT) Manager
IT managers are in charge of a company’s information and computer systems. With their expertise, they cater to the IT needs of an organization by integrating technology principles and computer systems. Considering how versatile an MBA is, you can branch off from IT to become a project manager while still employing your transferable technical skills. In addition, you could also work with financial technology.
Business Intelligence (BI) Analyst
Business intelligence analysts are experts in analyzing data and identifying trends that will enable an organization to make better business decisions. They also create data models to enhance the visualization and interpretation of data. As a BI analyst with an MBA, you can work in various industries from finance to ecommerce to telecommunications.
Human Resources (HR) Manager
Human resources managers are in charge of the administrative functions in an organization. They are responsible for organizing recruitments, conducting interviews, and employing staff. With an MBA in HR, you will have the technical knowledge central to managing a company’s employees. Your role requires you to be the middleman between the staff and the overseeing management.
Healthcare managers have the responsibility of improving patient care and support. They handle the administrative functions of healthcare and ensure effective budgeting, planning, and scheduling. An MBA in healthcare management will help sharpen your process optimization skills as well as your financial, leadership, and communication skills.
Business consultants give professional advice to organizations to improve their business operations and achieve their goals. They analyze existing strategies, identify business plan flaws, and offer better operation models. They are relevant in every sector ranging from marketing and finance to supply chain and engineering.
Sales managers organize, plan, and coordinate the sales strategies of a business. They supervise teams to ensure optimum sales performance to meet targets. While you manage marketing teams, you are responsible for maintaining customer relationships and identifying new market opportunities. An MBA is essential in understanding the fundamentals of business principles and strategies.
Tips for Finding Success as an MBA Grad
If you’re an MBA grad or about to graduate from business school, you are at a critical stage in your career. The steps you take will determine your success in the long run. While an advanced degree brings opportunities your way, you still have to apply specific measures. The following tips will set you on track towards your goals and a successful career.
- Be self-aware. Identify your strengths and weaknesses. Before taking on leadership roles and managerial positions. Cross-examine your skill set against industry standards. Channel yourself in the direction of your strengths before attending to your weaknesses. With time, you can cater to the needs of your weaknesses.
- Set long-term career goals. Begin your career in the right direction. Set long-term goals and be intentional about them. If you’re interested in investment banking or financial management, you should be looking for opportunities in these fields.
- Grab opportunities. While you might have set long-term goals, you can still take advantage of any opportunity that comes your way. If investment banking is your long-term goal and you see an opening in healthcare management, take it. Usually, MBA grads are efficient career switchers, so you will have more skills to change to your desired career path later.
- Unlock and develop your ideas. With the technical skills and business experience you have, you can follow a different route to unlocking your ideas and becoming an entrepreneur. If you would rather be independent, take the bold step while calculating the risks. Follow your passion until you have attained career satisfaction.
- Use your network. A business school is a great place to create a solid network with seasoned professionals. Use your network to your advantage and share ideas and interests with them. You might just be getting yourself a referral or a business partner with similar passions and goals.
Jobs for MBA Grads Outlook
The Bureau of Labor Statistics projects a nine percent job growth for all management positions from 2020 to 2030. As a result, 906,800 new jobs will emerge from the expansion of existing organizations and the formation of new ones. In addition, it also estimates the median annual salary of management positions as of May 2020 to be $109,760, surpassing that of other major occupations.
These values prove the quality of the vast opportunities open to MBA college grads. From financial managers to business development directors to logistics managers, an MBA will undoubtedly set you up for many job opportunities in the corporate world.
Best Jobs for MBA Grads FAQ
What can I do with my MBA degree?
An MBA allows you to hold managerial positions in organizations. Career options include working as a human resource manager, purchasing manager, business development manager, or even a chief operations officer. You just have to develop the right experience to tap into these opportunities.
Which MBA degree is most in demand?
General management is the most in-demand and popular MBA degree. It equips students with the technical skills and management abilities applicable to every industry. An MBA in management is relevant in healthcare, tech, logistics, and supply chain management.
How long does it take to earn an MBA?
It takes at least two years to complete training in a business school. However, it could extend to three years if you are only enrolled part-time. On the other hand, there are fast-paced programs that enable you to earn an MBA in a shorter time frame.
Can I earn an MBA while working?
Yes, it is common for students to earn their MBAs while working. There are part-time MBA programs that allow you to work while you undergo training for career advancement. In fact, some employers will even pay for you to go back to school and get your MBA while working.
About us: Career Karma is a platform designed to help job seekers find, research, and connect with job training programs to advance their careers. Learn about the CK publication.