Five High-Paying Jobs with an MBA
- Chief Executive Officer
- Marketing Manager
- Financial Manager or Chief Financial Officer
- IT Manager
It should be unsurprising that there are several top paying MBA careers. A master’s in business administration prepares students for a variety of careers in business, which is one of the most lucrative career fields. Below is an overview of the careers students can get with an MBA that pay the most.
1. Chief Executive Officer (CEO)
The Chief Executive Officer oversees all functions of the entire company and are in charge of making final decisions. Some CEOs are also the company owner. Because they are at the top, they receive the top pay. The CEO of a successful company can make millions, while many more make six-figure salaries. An MBA can help prepare aspiring entrepreneurs for taking this position, whether they start their own company after college or work their way up the corporate ladder in an existing one.
2. Marketing Manager
Marketing managers direct all marketing-related activities at a company. They perform market research, deeply understand a company’s target audience and carefully craft marketing plans in order to reach that audience. Competition for marketing manager jobs is expected to be fierce because of this career’s popularity. The top ten percent of marketing managers earn over $200,000, according to the Bureau of Labor Statistics, making this one of the highest paying jobs in business. Some marketing managers may earn additional income in the form of sales commissions.
3. Financial Manager or Chief Financial Officer (CFO)
MBAs include finance classes, which is a critical subject for any businessperson to understand. Most financial managers have some background in accounting, which makes this position ideal for someone who received an undergraduate degree in accounting or finance and then went on to get an MBA. Becoming a Certified Public Accountant, or CPA, is usually necessary to reach this rank within a company. CPAs can do certain things other accountants cannot, such as filing official reports with the Securities and Exchange Commission (SEC).
Business consultants can make good money while working fewer hours than other top MBA careers. Typically, an employee will need to have some degree of business experience, achievements and measured success before they can begin working as a consultant. They may work for themselves or for a consulting firm. Consultants must have well-rounded business knowledge of management, finance and marketing, which are all skills taught in an MBA program. High-end management consultants can easily make six-figure salaries annually.
5. IT Manager
The future of business is in information technology, or IT. For this reason, IT management positions have become both sought after and highly paid MBA careers. There are a number of upper-tier IT management job titles, such as VP of IT or Computer and Information Systems Manager. Professionals in these positions are in charge of all information technology systems employed by a company. They make decisions regarding upgrading equipment and manage the entire IT department. This role is even more important if the business is heavily focused on technology. An undergraduate degree in computer science in addition to an MBA is likely to be required.
Related Resource: Top 21 Online Bachelor’s in International Business Programs 2018
A Master’s in Business Administration can open all kinds of doors to the highest-paid careers in business. For students interested in going into business, any of these top paying MBA careers might be ideal to strive towards.