What are the highest paying MBA jobs? Once you have your MBA, a high paying career doesn’t come automatically. Instead, you have to gain employment in a field that will offer you the most earning potential. By choosing one of the ten high paying career paths below, you can see that MBA truly begin to pay off (figures from the Bureau of Labor Statistics and Forbes).
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BusinessMBA.org’s 10 Highest Paying MBA Jobs
10. Management Analysts
Average annual salary: $82,920
Management analysts, also sometimes called management consultants, analyze a company’s systems and performance, looking for flaws or things that could be improved. With a management analyst’s advice, companies can improve their profitability, become more efficient, streamline their corporate structure and more. Management analysts can work in fields from marketing to information systems to human resources. They work with managers to find and review all pertinent information, then advise on future action. Companies may hire management analysts in order to improve internally, but management analysts may also advise on a new project, working in concert with internal employees on a temporary basis while a project is being implemented. That way, the company doesn’t have to onboard permanent employees just to bring a new project online. Management analysts will present their findings in written and presentation form, so communication skills, in addition to research and analysis skills, are paramount in this career.
9. Personal Financial Advisors
Average annual salary: $92,970
Personal financial advisors are go-to people for any investing advice, be it stocks, commodities, bonds, retirement funds, or any other combination of investments. Personal financial advisors monitor the performance of investments and recommend any changes, such as trades or new acquisitions, in order to maximize the potential of a portfolio’s returns. Personal financial advisors may work independently, for corporations, at banks, at mutual fund companies, or in other organizations. Personal financial advisors analyze potential and current investments by valuing companies and sometimes even meeting with the companies’ management teams in order to get a better idea of how the company is performing. Those financial advisors who work for Wall Street brokerage firms are often given large bonuses, upping their earning potential considerably and hold some of the highest paying MBA jobs.
8. Agents and Business Managers
Average annual salary: $101,220
Actors, film directors, athletes and other entertainment-industry professionals are some of the highest-earning people in America. Agents and business managers of such people get 10 percent of everything their successful clients make and these jobs are among the highest paying MBA jobs. This is potentially a very lucrative field, depending on whom the agent or business manager signs on as a client. The job of an agent is to help their clients find jobs; for example, most companies seeking models work through talent agencies to find the right fit. For actors and athletes, especially at the national level, agents are absolutely necessary for success. The job of an agent includes signing on clients, finding new jobs for their clients, negotiating contracts for their clients and, of course, keeping their clients satisfied—not an easy task if that client happens to be very famous and very demanding. However, it is precisely with those clients that the agent can make excellent money. Great communication skills, sharp negotiation skills, the ability to build a good reputation, and being an excellent networker are all helpful skills for agents.
7. Financial Managers
Average annual salary: $101,450
Financial managers are in charge of managing the finances of their organizations, from financial reports to investment to management of internal accounts. Many financial managers come from an accounting background, and as part of the job must know how to prepare financial reports and audits. Financial managers may also manage company budgets, process mergers and acquisitions, manage the company’s credit issuance, collect on accounts, project cash flow and acquire insurance, among others. In today’s multinational business environment, financial managers with skills in international finance, including risk management and knowledge of how to maximize profits in diverse markets, are highly sought after. Indeed, the ability to maximize a profit on a minimal budget in any market—the ability to analyze data accurately—is an important new skill for 21st century financial managers.
Top-ranked Finance Programs
1. American InterContinental University – MBA – Finance
2. Grand Canyon University – MBA – Finance
3. University of the Southwest- MBA – Finance
6. Sales Managers
Average annual salary: $102,730
Sales managers are in charge of finding people to buy a company’s products or service, selling it to them, and maintaining a steady and growing stream of incoming business. The job of a sales manager involves directing research to find the right clients and delineating sales territories and quotas for sales employees. A sales manager also organizes pitching campaigns for the company’s products, oversees the distribution of the products to customers, and monitors sales statistics to gauge not only the success of pitching efforts, but whether the right inventory is in the right place, and whether there is enough of it. Sales managers should be excellent at networking and persuading, as well as highly motivated and, in most cases, extroverted.
5. Computer And Information Systems Managers
Average annual salary: $107,250
Computer and information systems managers are in charge of the computer and IT systems within their company. They make sure that all corporate IT needs are met, including future needs and repairs. Computer and information systems managers are in charge of ensuring that each department in an organization has its communications and technology needs met, be they desktop, mobile, phone or otherwise. Information systems managers must also ensure the corporate system is kept safe and that all internal software is up to date and meeting everyone’s needs. Computer and information systems managers also research any new technology that the company is considering implementing, and assure that it is both a good product and fits the company’s needs. In a large corporation, the computer and information systems manager may also be a project manager, assigned to individual projects that benefit the company’s overall IT infrastructure.
4. Natural Sciences Managers
Average annual salary: $107,970
Like engineering managers, natural sciences managers must master both the scientific and business aspects of their fields. Natural sciences managers oversee teams of scientists and/or research and development departments. Natural sciences managers are in charge of guiding research and manufacturing from concept to completion, with an effective team and on budget. The team and product must adhere to environmental and policy standards, which can be an involved process in some scientific fields. Natural sciences managers must also keep their departments coordinated with the rest of the company, and stay within corporate strategy and timelines. Natural sciences managers may work in chemistry, pharmaceuticals, geology, medicine, statistics, physical science, mathematics, and agriculture, among other fields and are often found among those with the highest paying MBA jobs.
3. Engineering Managers
Average annual salary: $110,030
One of the best ways to skyrocket to the top of the corporate pay scale is to add an MBA to an advanced technical degree. These individuals are often found among those with the highest paying MBA jobs. Engineering managers, who direct engineering or architecture departments, are a prime example. Using advanced experience and/or training in business and engineering, these managers guide their teams from product creation to completion. Engineering managers oversee the technical development of a product while keeping the team organized and supported, and in sync with corporate strategy. Engineering managers may oversee research and development, manufacturing, product development and design, among others. Engineering managers must bridge two worlds, that of the techie and that of the corporation. They should be excellent both technically and as communicators and planners.
2. Marketing Managers
Average annual salary: $118,160
Being a marketing manager can mean many things, depending on the size and type of company. Overall, however, most marketing managers are in charge of their firm’s marketing strategy, which involves gauging and creating demand for a product, finding the right pricing strategies, finding new markets, and spearheading the development of new products.
Top-ranked Marketing MBA Programs
1. Liberty University – MBA – Marketing
2. American InterContinental University – MBA – Marketing
3. Ashford University – MBA – Marketing
Above all, marketing managers must have a complete and detailed understanding of how a company’s target markets work: who’s in them, what those people want, how they spend their money, etc. For a marketing manager, that understanding then provides the foundation for further action, including pricing, advertising, and all the other facets of marketing management. Larger companies often have different types of marketing managers, including product marketing managers, business marketing managers, branding managers, relationship marketing managers, social marketing managers, and more. With increased global competition and new, digital marketing avenues, marketing managers are in demand, and they must be savvy and quick to learn. Marketing Managers are are often found among those with the highest paying MBA jobs.
1. Chief Executive Officers (CEOs)
Average annual salary: $160,440
Chief executive officers take the top spot on our list of highest paying MBA jobs. CEOs are the commanders-in-chief of their companies. CEOs are in charge of company strategy, overseeing all the employees in an organization, making all major business decisions and ensuring the company’s performance at all times. The chief executive officer reports to the company board of directors. The roles and responsibilities of a CEO are very serious and are crucial to a company’s success. For that reason, anyone considering a career as a CEO must work well under constant pressure, have excellent communications skills and be a true expert in his/her field. Note also that in modern companies, when CEOs do not perform as desired during a certain time span, their tenure is often abruptly ended in favor of a candidate who is seen as someone who can deliver. Therefore, the job security of CEOs, especially in public companies, isn’t the stalwart it once was. The nonprofit counterpart to a CEO is called an Executive Director, and anyone in this career may also receive substantial compensation.
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