Getting a Master of Business Administration (MBA) degree is one of the most solid investments you can ever make in life. Apart from helping you expand your career opportunities, it also prepares you for good paying jobs in today’s competitive job market. Here are some of the highest paying jobs that you can apply for as an MBA graduate.
1. Investment Banker
An investment banker helps companies and government agencies raise money in the capital markets and provide strategic advice mergers and other types of financial transactions.
The position of an investment banker typically requires a strong educational background in MBA with a concentration in finance.
it’s hard to establish the annual salary of an investment banker because it depends on a variety of factors such as location, company size and experience. However, the BLS indicates that the average salary is $450,000 per year.
2. Financial Manager
With your MBA degree, you can choose to enter the financial sector and work as a financial manager in a bank, an insurance company or any other financial institution.
According to statistics, many employers prefer MBA graduates with strong mathematical and problem-solving skills.
The starting salary of financial managers ranges from $300,000 to $350,000 per year. After working for a certain period of time, the salary can be raised to an average of $400,000 per year.
3. Chief Technology Officer
The work of a chief technology officer is to establish a company’s technical vision, manage the technical team and oversee every aspect of technological development. He is also responsible for overseeing special projects, monitoring technology and social trends, participating in management decisions and ensuring adherence to all technical standards.
While research has been a core component of business for a long period of time, the development of information technology has increased the importance and need of chief technology officers. To be employed as a chief technology officer, you should have an MBA degree with a specialization in information technology management.
The annual salary of a chief executive officer varies depending on a number of factors such as level of education, company size, years of experience and location. The average salary is $200,000 per year.
4. Information Technology (IT) Director
IT directors are responsible for making sure that a company’s information technology is effective and secure by developing and implementing the goals of the IT department, analyzing the business and IT requirements for different departments and conducting feasibility studies to determine the best and most reliable use of technical resources.
If you have an MBA degree with a specialization in IT management, this is the right field for you.
According to the BLS, the annual salary of IT directors is $155,000.
5. Investment Bank Manager
An investment fund manager provides financial advice, makes informed financial decisions and recommendations, assesses and interprets complicated financial information and holds regular meetings with company managers and investment analysts to discuss financial matters.
Typical employers of investment fund managers include investment banks, stockbrokers, life insurance companies, charities and asset management companies.
To qualify for a position as an investment fund manager, you should have an MBA degree with a concentration in finance. On top of that, some employers look for candidates with ambition, strong time management skills, determination, analytical skills, leadership skills and ability to work effectively under pressure.
The average salary of an investment fund manager is $135,000 per year. However, the salary can be substantially higher because of bonuses.
6. Marketing Manager
A marketing manager is responsible for helping a company or organization obtain new customers and expand into new markets. He researches trends, estimates demand, identifies new opportunities and develops effective marketing campaigns. He also identifies and maintains the competitive advantage of a company.
To qualify as a marketing manager, an MBA degree with a specialization in marketing is required. In some high-tech companies, you may also be required to have an engineering or science degree.
The average salary of a marketing manager is $120,000 per year. Top salaries are given to those with advanced education and extensive experience.
7. High-End Management Consultant
A high-end management consultant provides the focused direction a company requires to stay competitive and relevant by helping solve management problems, maximize profits, increase efficiency, control costs and increase worker productivity. He also helps a company establish an online presence and adjust to new business regulations. He works closely with chief operations officers, chief executive officers and chief financial officers.
Many employers prefer to hire or work with those who have a master’s degree in MBA and relevant experience in the industry.
According to www.glassdoor.com, a high-end management consultant earns an average of about $115,000 per year. The pay is significantly higher for those who have been in the industry for quite a long time.
8. Computer and Information Systems (CIS) Manager
A CIS manager coordinates and directs all computer-related activities of a company such as the installation and upgrading of hardware and software, providing the ICT infrastructures, development and maintenance of computer networks and contributing to organizational policy regarding strategic planning and quality standards.
As a CIS manager, you can work in the insurance, finance, information or systems design industry.
To be employed, you are required to have a master’s degree in MBA with at least an information science or technology as a core component. In addition to that, some employers prefer candidates with strong leadership, communication and interpersonal skills.
The salary of a CIS manager depends on company size and employer. According to the U.S. Bureau of Labor Statistics, the average salary of CIS managers is $90,000.
9. Health Services Manager
The constantly expanding and diversifying health care industry is in need of knowledgeable and skilled managers to make sure that it runs smoothly and effectively. A health services manager, also called a health care administrator or health care executive, is responsible for planning, directing, coordinating and directing health and medical services. He may be in charge of an entire facility or specialize in managing a specific department.
To become a health services manager, you should have an MBA degree with a concentration in health services management and finance.
The annual pay for a health services manager ranges from $75,000 to $80,000 for new employees and $850,000 to $87,000 for established managers.