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The Multipurpose MBA

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The Multipurpose MBA

An MBA degree is not only a fairly lucrative pursuit but also an extremely versatile one. Let’s take a look at the different concentrations within the MBA and where each field might take you.

The MBA

More than 200

Number of top-earning CEOs in the U.S. who have MBAs (1)

$97,714

Median salary for an MBA degree-holder in 2014 (2)

$102,355

Average total tuition for a business degree from a top-20 school (3)

MBA Concentrations

Not all MBAs are created equal. Career paths depend greatly on the area of concentration within the MBA.

Accounting

Business management

E-business/e-commerce

Economics

Entrepreneurship

Finance

Global management

Human resources management

Information systems

International business

Marketing

Operations management

Strategic/risk management

Technology management

Most lucrative (5, 6)

Finance

Median mid-career pay: $121,000

Career paths: Chief financial officer (CFO), finance director, senior financial analyst, stockbroker

International business

Median mid-career pay: $116,000

Career paths: Sales director/mediator, operations director

Marketing

Median mid-career pay: $113,000

Career paths: Marketing director/manager, business development manager

Information systems

Median mid-career pay: $106,000

Career paths: IT director/manager, IT project manager, IT systems analyst

Technology management

Median mid-career pay: $102,000

Career paths: VP of IT, IT director/manager

Business management

Median mid-career pay: $96,900

Career paths: Sales director, HR director, general/operations manager, hospital management, management consultant

Accounting

Median mid-career pay: $84,000

Career paths: Financial controller, senior accountant

MBA Employers

Here’s a look at some U.S. companies that hire large numbers of MBA degree-holders: (7)

Google (CA)

McKinsey & Company (NY)

Apple (CA)

Bain & Company (MA)

Boston Consulting Group (MA)

Amazon.com (WA)

Goldman Sachs Group (NY)

Facebook (CA)

Nike (OR)

JPMorgan Chase (NY)

Johnson & Johnson (NJ)

Best Schools vs. Cheap Schools

Some people believe MBAs are only beneficial when received from a top-10 or even top-5 school. But there is a huge difference between top schools and generally affordable schools.

Top 5 business schools (8)

School: Annual tuition: Full-time enrollment

Harvard: $56,175: 1,851

Stanford: $59,550: 809

University of Pennsylvania: $59,736: 1,677

University of Chicago: $58,760: 1,176

MIT: $61,152: 819

Best bang for your buck in private schools (8)

School: Annual tuition:

Alfred University (NY): $37,646

Rochester Institute of Technology (NY): $36,216

Bentley University (MA): $34,904

Baylor University (TX): $34,116

American University (DC): $33,444

Cheapest online MBA programs (9)

School: Annual tuition

Southeast Missouri State University: $9,669

Texas A&M University-Commerce: $10,635

East Carolina University: $11,451

University of Louisiana at Monroe: $12,015

Ball State University (IN): $12,600

MBA-thumb

Sources:
1. http://www.aib.edu.au
2. http://education-portal.com
3. http://www.forbes.com
4. http://businessmajors.about.com
5. http://career-advice.monster.com
6. http://www.examiner.com
7. http://money.cnn.com
8. http://www.usnews.com

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