Three high paying careers to consider post MBA
The Master of Business Administration (MBA) is a highly sought-after qualification designed for those who are looking to upskill themselves professionally to land themselves high paying careers. An MBA qualification will allow the candidate to develop the hard and soft skills required to further their career in business and management, or any other field and function.
The MBA is highly beneficial to individuals who are pursuing a managerial career, as it focuses on the core competencies that cover areas such as accounting, economics, marketing, and operations. However, MBA’s come with a variety of specialisations and also prepares a candidate with the right opportunities to climb up the career ladder, with extensive preparation in professional network development.
An MBA can prepare candidates for high paying careers in consulting
MBA starting salaries predominantly differ by field and by specialisation. Consulting is one of the more lucrative and competitive fields for an MBA graduate. An MBA graduate that specialises in consulting prepares them to become an expert ready to offer an outside opinion for challenges faced by companies and in the US, experts in these sectors and are very well paid.
MBA hires in the consulting sector can expect to earn annual salaries of up to US$135,000 across industries. The 2018 MBA News MBA Motivations & Aspirations Survey found that more than one in four MBA graduates choose to embark on a career in management consulting upon graduating.
Management Consulted, a firm based in the US reported that Deloitte, part of the big four consulting firms, paid up to US$125,000 per annum for its consultants with MBA qualifications. Ernst and Young, paid a base salary of up to US$155,000 for its consultants while PricewaterhouseCoopers (PWC) paid US$150,000 per annum. Accenture, on the other hand, paid consultants with an MBA qualification a base salary of US$105,000 per annum.
Are you considering a career in consulting? Bain & Co. explain what they are looking for in MBA hires http://t.co/RDg0VW7WKk
— London Business School (@LBS) December 7, 2014
An MBA can be used as an entry point into reigning tech firms
Hiring trends displayed by technology giants like Amazon, Microsoft, and Google have indicated that MBA graduates have proven to be highly employable in the tech industry. In 2020, tech joins the likes of consulting firms such as McKinsey to become the biggest employers of MBA graduates.
In fact, 84% of those who graduated from the 131 MBA programmes ranked by US. News found employment within three months, according to a survey of recent graduates.
With the more recent technology boom, MBA graduates are increasingly driven to seek opportunities for high paying careers with the tech giants of Silicon Valley.
The Graduate Management Admission Council (GMAC)’s 2018 Corporate Recruiters Survey report reflects an interesting trend development – 89% of tech employers planned to hire MBA holders in 2018 which is an 84% increase from the year before.
— Clear Admit (@ClearAdmit) September 14, 2016
The love affair goes both ways, fresh MBA graduates are reportedly seeking hiring with the likes of Amazon, Apple, and Google for their entrepreneurial culture, high compensation, and an improved work-life balance.
These specialisations give you the advantage of a general MBAs that will cover the key aspects of an MBA with the additional emphasis on technology. This allows the learner to gain the knowledge and skills related to general business, management, and leadership, on top of the specialisation in technology.
MBA graduates who specialise in technology management and work as leaders in the technology sector can make up to US$113,000 a year, with information technology directors earning up to US$147,000 a year.
Develop your career in finance with an MBA
According to Monster, a global online employment solution for job seekers and employers, MBAs specialising in strategic functions are best in terms of return of value. This specialisation equips graduates with the ability to carry out management-level decisions that influence a company’s success.
Finance is a strategic role designed to plan, monitor and control the financial resources of an organisation to meet both its short- and long-term financial objectives. An MBA with a specialisation in finance covers not only the core competencies required for a career in business but additionally focuses on developing finance competencies.
An MBA with a specialisation in finance will prepare graduates for a career as finance managers and even up to the C-suite level, as Chief Financial Officers (CFO). MBA graduates specialising in finance have a lot to gain with finance managers making up to US$112,000 a year and chief financial officers making a whopping US$183,000 a year.