Whether or not to acquire a Masters in Business Administration is one of the most important decisions that most young business professionals have to make. Many factors come into play when making this decision; one of the most important factors is the investment it entails and the returns to that investment that can be expected. Those with an MBA from a reputable school often land in jobs that pay six-figure salaries. Thus, if you end up deciding to get an MBA, the investment may be totally worth it. Here is a list of highest paying jobs that favor those who have an MBA to their credit:
1. Investment Banker:
An Investment Banker aids individuals, corporations, and governments raise financial capital by offering their expert advice, drafting all the important documents, and ensuring that all legal regulations have been respected. According to the BLS the average salaries for investment bankers can rise up to $450,000 per year.
2. Financial Manager:
Financial managers take care of the financial wellbeing of the corporation. They formulate the long-term financial approach, cultivate investment endeavors, and create financial reports for the corporation. According to the US News, “the average salary for a financial manager was $130,230 in 2014.”
3. Software Developer:
Software Developers are normally concerned with the facades of software development, which include researching, designing, programming and testing computer software. An MBA is not required to land a job as a software developer. However, having an MBA would really solidify the career prospects of those software developers who want to move into strategic roles such as product management. According to the US News, “a software developer’s average salary (is) $99,530.”
4. Management Consultant:
Management consultants help businesses flourish by resolving glitches and recommending superior techniques of strategy, structure, management and operations that allow businesses to function more efficiently and economically. According to the US News, the average salary of a management consultant was “$90,860 in 2014.”
5. Health Services Manager:
Health Service Managers execute the strategic and financial management of hospitals and community health services. According to the US News, “medical and health services managers made a mean wage of $103,680 in 2014”.
6. Marketing Manager:
Marketing managers are responsible for the marketing of business or products. According to the US News, Marketing managers made a median salary of $127,130 in 2014.
7. Operations Research Analyst:
Operations Research Analysts employ their analytical and creative proficiencies to aid corporations acquire improved systems and operational procedures. Thus, they use analytical methods such as simulation, network analysis, decision analysis soft systems modeling, optimization and game theory, and mathematical programming techniques such as linear programming to help businesses be more efficient and effective. According to the US News, “the median annual salary for operations research analysts was $76,660 in 2014.”
Before you start filling out your MBA applications, please know that these salaries just offer a guided estimate. Individual salaries do vary depending on the reputation of your school, your previous job experience and most importantly, your individual personality. However, if you have decided to attain the magic degree, be assured that depending on how you use the opportunity, there will be many opportunities for you to make the investment totally worth it.