Most people who have earned an MBA want it to pay off with a high-paying career. Choosing your area of expertise is important to ensure you are able to find a job that meets your salary requirements. Here are a few MBA-level careers that offer great potential.
What Is An MBA?
An MBA is also referred to as a Master of Business Administration degree. It is a graduate-level degree that takes about two years to complete. MBA programs cover topics like accounting, finance, marketing, human resources, and operations management. Many MBA programs can require you to complete a capstone project.
MBA graduates often find work in a variety of fields, ranging from business to government. They may find jobs in large corporations or start their own businesses. MBA graduates typically have a higher starting salary than those with only a bachelor’s degree. There are ways to earn this level of education, either with an MBA online program or by attending a brick-and-mortar school. People who are transitioning from another career find it much easier to go with the online route because they can study at their own pace.
According to the U.S. News, the average salary of an MBA graduate was over $95,000 in 2021. As you see, MBA opens up a lot of job opportunities with great potential. Also, job retention is much higher with people who have advanced education because they tend to be more marketable.
Successful Careers With An MBA
Below are just a few examples of popular careers that people with an MBA often pursue.
A sales manager is responsible for leading a team of salespeople. They work to increase sales and grow the company’s market share. They often employ a team of people who report to them. Sales managers typically have a background in sales and marketing. The average base pay is more than $65,000 per year with a salary that exceeds 100K with commission.
If you enjoy working with numbers, a career in finance might be a good option for you. Finance managers have a big responsibility for overseeing the financial operations of a company. This may include tasks like creating financial reports, preparing budgets, and making investment decisions. The average base pay is over $80,000 per year.
Human Resources Manager
Human resource managers work with a company’s employees. They may be responsible for tasks like recruiting, training, and managing employee benefits. Human resource managers typically have a background in human resources or business. The salary can start at more than $60,000 per year.
Marketing managers are responsible for developing and implementing marketing plans. They work with several departments to ensure that the company’s marketing goals are met. Marketing managers typically have a background in marketing or business. Starting salaries begin at around $75,000 per year.
What’s The Job Outlook For MBA Recipients?
The job outlook for people who have an MBA is excellent, with the expectation that thousands of jobs will be added in the coming years. According to The Bureau of Labor Statistics, more than 800,000 jobs will be created between 2016 and 2026.
Why Earn An MBA Online?
Many universities recognize the needs of working professionals who are looking to advance their careers. That’s why MBA programs are now available online. These programs offer the same curriculum as traditional MBA programs, but they allow students to work anywhere with a fast internet connection. There are also other advantages to earning an MBA online. They are typically more affordable because you don’t have to pay for things like housing and transportation.
The future is bright if you choose to enhance your career with an MBA. With an MBA, you will open up doors to a variety of successful careers with great potential. Earning an MBA is a rewarding accomplishment that can lead to a successful career in many different fields. MBA programs are now available online, so you can complete your coursework at your own pace and from the comfort of your own home.
My Life, I Guess is a personal finance and career blog by Amanda Kay, an Employment Specialist and older millennial from Ontario, Canada that strives to keep the "person" in personal finance by writing about money, mistakes, and making a living. She focuses on what it’s like being in debt, living paycheck to paycheck, and surviving unemployment while also offering advice and support for others in similar situations - including a FREE library of career & job search resources.