While just getting an MBA degree doesn’t guarantee that you will move up the corporate ladder, employers and recruiters place immense value in good MBA programs that cultivate the skills of their workers.
Based on research conducted by US News & World Report, compared to other graduate programs, more students enroll under the MBA program to enhance their skills and move up the corporate ladder.
However, when you are choosing your MBA degree, the most important question is future career opportunities.
This is why before you choose your MBA concentration, make sure you know about the career opportunities. Here are some of the most common MBA concentrations and job opportunities outlined for you.
With a degree in MBA accounting, you can be a senior accountant, and auditor or even a financial manager. As a senior accountant, your average salary could be $66,171 while for senior auditor it’s $67,813 and for finance manager $70,623.
In all these levels, attention to details and strong analytical skills is important. Most auditors or finance managers have a degree in accounting and/or mathematics, as it helps to audit balance sheets.
This is another core MBA concentration, which MBA aspirants focus on. It provides you high salaried positions and also some level of autonomy.
With an MBA degree in finance, you can work your way up to a CFO in any organization. Other career opportunities include working as a personal financial advisor, senior investment associate or senior financial analyst.
The salary ranges from $60,000 to as high as $80,000 for certain positions and experience levels. Additionally, when you are an adviser with an MBA degree, you can move up the ladder and be a manager once you gain some hands on experience.
Market analysts use data from various outlets and analyze them while developing marketing strategies and policies. While most market analyst positions require a business degree or a degree in Statistics or Mathematics, having an MBA degree can make your job easier.
With an MBA degree in marketing, you can be a market research analyst or a creative director of advertising or even move to managing director of sales and marketing or chief business officer.
The salary ranges depend largely on your exposure and your experience but can start from $51,000 and move as high as $100,000 depending on your job responsibilities.
Economics is one of the subjects that require a strong analytical skill. This is why when you get a degree in MBA with Economics as the concentration, you can get a high salary even in an opening position.
As an MBA degree holder in Economics, you can try working as an analyst, as an economist or a senior economist.
The salary for the entry-level position starts at $58,000 and as a senior economist you can get a salary as high as $110000.
Just like any other professional background, you can also have a degree of MBA in technology. This is great for people from engineering backgrounds, who might want to move into a more specialized position.
With this degree, you can work as an information technology officer, information technology analyst and manager, information security analyst and even as a project manager.
Based on your skills and position, you can draw a salary of $70,120 to $90,000 per annum along with other benefits. As a security analyst, you job will be to check out internet threats and check if the system has been compromised.
HR managers are responsible for overseeing company hiring policies, and other administrative functions related to human resources. With a degree in MBA Human Resources, you can work as an HR manager, HR director or even work as manager for compensation and benefits.
The salary range starts from $65,000 and can go as high as $87,000 depending on your job responsibilities and your skill and experience level.
Supply Chain Management
People who have a degree in supply chain management study the operations and logistics and how to manage it better. You can start off as a logistics analyst and move up as a supply chain manager or as director of the supply chain management unit of your company.
Since the supply chain management positions require a thorough knowledge of manpower and logistics, the salary is a bit on the higher end. As a logistics analyst, you could easily make $56,000. As a director of supply chain management, you could potentially make $125,000 per annum.
These are by far the most prestigious positions you can get after getting an MBA degree. The executive MBA positions refer to the chief positions in a company – CFO, CBO or even CEO. The salary ranges depend on your experience post-MBA and your skill set. As a chief financial officer, you could earn $128,000 and as a chief executive officer, you could earn as high as $165,000.
However, in order to move up the ladder, you need to have an MBA degree in your chosen sphere. For example, in order to work as a CFO, you need to have a degree in finance or accounting along with years of relevant experience.
Other Career Options
Having an MBA degree doesn’t mean that you will have to join an organization and work as an employee. With the professional knowledge that you have, you can also work as an entrepreneur and start your own business.
At the end of the day, you have the knowledge and experience required to make it in the real world. So, if you want to try out different options before you settle for a job, you can always do that.
However, make sure you have relevant experience to fill the gaps in your resume if you start looking for a job after your entrepreneurial journey.