One of the best investments you can make in your life is to earn a Master of Business Administration (MBA). The degree helps you reach your career goals and prepares you for high-paying jobs in today’s fiercely competitive market. Below are a few of the most lucrative positions that MBA graduates can apply for.
Investment Banker
A financial advisor helps organizations raise money in the capital markets or make financial transactions, including mergers and acquisitions.
Most investment bankers have a business degree with a finance concentration.
Investment bankers’ annual salaries are hard to determine since they depend on factors such as their employment position, location, and experience. According to the Bureau of Labor Statistics, the average salary in the United States is $450,000 per year.
Health Services Manager
The healthcare industry is constantly expanding and diversifying, and managers are needed to ensure that it runs smoothly and efficiently. Planning, directing, coordinating, and directing health and medical services are their main responsibilities. Additionally, they may be responsible for an entire facility or specialize in handling a specific department.
An MBA with a concentration in health services management and finance is necessary for becoming a health services manager. As a person who has already been employed by a hospital and wishes to advance to the management level, he or she can enroll in an MBA healthcare online program to gain the necessary skills required for the job.
Health services managers earn $75,000 to $80,000 per year for new employees and $850,000 to $87,000 per year for experienced managers.
Financial Manager
A financial manager can work in a bank, a financial company, or other financial institution with an MBA degree.
Numerous statistics indicate that employers prefer MBA graduates with strong problem-solving skills and strong mathematical capabilities.
Finance managers typically earn between $300,000 and $350,000 per year as their starting salary. A salary of $400,000 per year is possible after working for a certain period of time.
Chief Technology Officer
An organization’s chief technology officer is responsible for establishing the organization’s technical vision, managing the technical team, and overseeing all aspects of technological development. Additionally, they oversee special projects, monitor technology trends, participate in management decisions, and ensure compliance with all technical standards.
The business has always been driven by research. With the development of technology, the need and importance of chief technology officers have grown significantly. For employment as a chief technology officer, an MBA degree specializing in IT management is essential.
Keeping in mind the education level, the size of the company, years of experience, and location, and the salary of a chief executive officer differs widely. On average, a CEO earns $200,000.
Information Technology Director
The IT Director ensures that the information technology within a company is both effective and secure by establishing goals for the IT department. He does so by analyzing the requirements of the various departments, and determining the best and most reliable way to use technical resources.
If you have a master’s degree in business administration, this is the perfect field for you.
In the U.S., IT directors earn an average of $155,000 per year, according to the Bureau of Labor Statistics.
Investment Bank Manager
Investment fund managers provide financial advice, make informed financial decisions, assess and interpret complex financial information, hold regular meetings with company managers and investment analysts and manage investments.
A typical employer of investment fund managers is an investment bank, stockbroker, life insurance company, charity, or asset management company.Fund managers need an MBA with a finance focus. Additionally, some employers seek candidates with leadership skills, analytical skills, time management skills, and the ability to work effectively under pressure.
Investment fund managers earn an average salary of $135,000. However, bonuses can make the salary substantially higher.
Marketing Manager
An organization’s marketing manager is responsible for bringing in new customers and expanding into new markets. By researching trends, estimating demand, identifying new opportunities, they develop effective marketing campaigns. Additionally, they identify and maintain the competitive advantage of a company.
The minimum requirement for becoming a marketing manager is an MBA specializing in marketing. However, some high-tech companies may ask for an additional engineering or science degree.
Marketing managers typically earn $120,000 per year. Professionals with extensive training and experience earn the highest salaries.
High-End Management Consultant
As a high-end management consultant, you can help your company solve problems, generate profits, boost employee productivity, reduce costs, and improve efficiency in order to stay competitive and relevant. These professionals also assist companies in setting up an online presence and complying with new business regulations.
In most cases, employers are looking for candidates who have a master’s degree in MBA and relevant work experience.
The average annual salary of a high-end management consultant is $115,000, according to Glassdoor.com. Those who have worked in the industry for quite some time are paid significantly more.
Computer and Information Systems (CIS) Manager
Computer Information Systems managers coordinate and direct all the computer-related aspects of a company. It includes the selection, installation, and upgrading of hardware and software, the provision of ICT infrastructure, and the development and maintenance of computer networks. Additionally, they are also responsible for contributing to the organization’s strategic planning and quality standard setting.
As a CIS manager, you can work in the software development, insurance, finance, or consulting industries.
The minimum education required for this post is a master’s degree in MBA with an emphasis on information science or technology. Furthermore, some employers prefer candidates with strong leadership, interpersonal, and communication skills.
A CIS manager’s salary varies depending on their employer and company size. In the United States, the Bureau of Labor Statistics reports that CIS managers make an average salary of $91,000.
Conclusion
A master’s degree in business administration has proven to be incredibly beneficial for many motivated adults who have the persistence to pursue new learning opportunities and to complete the necessary steps to advance their careers. People with MBAs can not only find fulfilling work in leading others and in being at the cutting edge of their professions, but they can also benefit from increased salaries, which typically reach far over $100,000 per year for MBAs. MBAs make the perfect choice for anyone who doesn’t want to settle for the ordinary when the extraordinary is just around the corner.
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