The demand for MBA graduates keeps growing. It is not for nothing that, today, MBA is one of the most sought-after degrees. The 2015 Year-End Poll of Employers conducted by Graduate Management Admission Council (GMAC) found that 75 percent of employers intended to hire MBAs and 85 percent said their numbers in their organizations would either remain the same or increase.
So, it doesn’t require a genius to figure out that the future certainly looks bright for MBA graduates. Their qualification makes them eligible for the best careers in terms of median annual salary figures, employment growth projections and job satisfaction.
Best jobs for MBA graduates
#1 Information Technology (IT) Director
IT directors are required in almost every industry, and their job entails managing computing resources for their organizations. They are responsible for the management, strategy, and security of IT for their company. An MBA graduate needs specialization in IT management. According to the Bureau of Labor Statistics (BLS), the median annual salary of IT directors in 2017 was $135,800, and its projected growth is 15 percent from 2014 to 2024.
#2 Financial Manager
The job of a financial manager is to oversee the financial activities and transactions of their company. They are responsible for creating financial procedures, cash management, investment, and the budget process. The onus of helping the company meet their fiscal objectives rests upon them. MBAs specializing in finance usually bag this job. Their median annual salary, as per BLS, was $121,750 in 2017. BLS also forecasts a seven percent growth from 2014 to 2024.
#3 Investment Banker
Companies need to raise money in the capital markets. This is where investment bankers fit in. They not only help in raising money in the capital markets, but also provide strategic advice in the event of mergers and acquisitions, and other financial transactions. MBA with a strong focus on finance is the qualification required for an investment banker. Although no official figure can be quoted for their annual salary, BLS quotes it as $78,480 per annum. The projected growth of this job from 2014 to 2024 is put at 10 percent.
#4 Marketing Manager
Companies expand into new markets and develop new customers with the help of marketing managers. The responsibility of increasing sales and profitability rests with them. For this, they need to research trends, develop marketing campaigns and retain the company’s competitive advantage. An MBA with a specialization in marketing fits the bill for this job. BLS gives out a median annual salary of marketing managers in 2017 as $127,560 and projects its growth from 2014 to 2024 as nine percent.
#5 Sales Manager
The job of a sales manager is to identify and recommend improvements in the sales procedure, develop training programs for the sales team, create sales promotion and analyze market trends. MBA with an emphasis on marketing is what is required for this position. According to BLS, the median annual salary of a sales manager in 2017 was $117,960, and the projected growth from 2014 to 2024 is five percent.
#6 High-End Management Consultant
A high-end management consultant plays a vital role in providing focused direction to companies to enable them to stay relevant and competitive. Their expertise is industry specific. Their focus is on solving management problems, controlling costs, maximizing profits, increasing worker productivity and efficiency. They are also advisors to a company’s chief executive officer, chief operating officer, chief financial officer, and other top executives. Companies usually prefer MBA graduates with relevant experience. The median annual salary of such consultants was $81,330 in 2017. BLS has projected a growth of 14 percent from 2014 to 2024.
#7 Health Services Manager
With the unprecedented growth of the healthcare industry, there is a growing demand for health services manager. They ensure that healthcare business runs smoothly by overseeing the performance of doctors, technicians and clerical staff. In smaller companies, they even co-manage the entire healthcare facility. For many positions, an MBA degree with an emphasis on health services management is a must. According to BLS, the median annual salary of health services manager in 2017 was $96,540. The projected growth is of 17 percent from 2014 to 2024.
An MBA degree puts all these dream jobs, and many more, within reach. And acquiring this degree has become more accessible nowadays, since you don’t have to enroll into a regular business school, but you can now pursue an online MBA program and earn a degree sitting at home.