Five high-paying jobs after earning an MBA

When choosing a career path, you must consider every aspect, from what that particular field has to offer over the years and job opportunities. First and foremost, if we look at job prospects, business majors have more job security than other majors since individuals with a business background are needed in almost every industry. Whether it’s Microsoft, Nike, or a meat-packing plant – every sector needs someone with business acumen to prosper.

Rest assured, even in poor economic times, individuals with business majors always stay in demand. Besides practical growth, there are plenty of academic opportunities to advance your career. One of the most popular and in-demand degrees is an MBA. We understand you have heard a lot about it because there are several reasons why almost every candidate wants to earn one. 

Want to know more? Read on to find out. 

Reasons to get an MBA degree

A master’s in business administration is a worthy investment for those considering establishing a name in the corporate world. Why is it worth it? There are numerous reasons which we will discuss in detail. 

One aspect of enrolling in an MBA program is that it provides an opportunity to interact with experienced people. Participating in discussions or working together in a group broadens one perspective from a business point of view. 

Besides amplifying learning, getting an MBA also increases the likelihood of more job opportunities and salary raises. As per the research by MBA Career Services and Employer Alliance, among the class of 2021 MBA graduates, 87% of them received job offers within three months of completing the program. 

With online education gaining traction after the COVID-19 pandemic, many online programs MBA are available. The best thing about online education is you don’t have to attend a physical university. 

With that said, here are a few options if you want to learn about job opportunities for an MBA graduate.  

• Management Consultant

Corporations face several problems that are detrimental to their growth. Some of these issues require innovative solutions. This is where a management consultant plays their part by recommending clients changes to enhance efficiency.  

Among the responsibilities, a management consultant analyzes problems and proposes solutions. Moreover, they also ensure the suggestions recommended are quantitatively and qualitatively analyzed. 

A management consultant aims to help executives maximize their business’s profitability. That means thoroughly reviewing financial statements, meeting with particular department heads, and based on reports establishing a plan to enhance profitability. Strategies are devised and implemented to ensure goals are achieved.    

Being a management consultant, you have a huge earning potential. The average annual salary is $80,934, with a yearly profit-sharing of $10,750.

• Financial Manager

As the title suggests, a financial manager advises corporations on business strategy and helps make decisions that lead to positive financial outcomes. To step up to the role, you must know about investments, savings, and pensions. 

The duties of a financial manager include closely monitoring cash flow, providing accurate financial information, and, most significantly, keeping the heads in the loop regarding any finance-related issues.  

Depending on the corporation’s size, these professionals either oversee the entire finance department or a specific aspect of financial operations like cash management. Aside from finance knowledge, a financial manager must also have an in-depth legal and regulatory understanding. 

It is essential because you never know when legal terms and conditions changes might affect an organization’s economic position, and your expertise might come to good use. An individual working as a financial manager earns about $181,000 per year.

• Investment Banker

As an investment banker, you help clients raise money by issuing debts or selling equities in the companies to raise funds in the capital market. Being an investment banker, the skills you acquire during an MBA program are put to the test. 

The most prominent of these skills include financial and communication skills that assist you in communicating with multiple stakeholders. The list of duties an investment banker has to fulfill includes advising clients about investment opportunities and helping them with mergers.

The duties of an investment banker depend on the size of the firm but aiding clients in raising money is the crux of their job. As mentioned earlier, investment bankers issue debts that involve selling investors’ bonds. 

When it comes to corporate bonds, an investor loans money for a fixed interest rate to an individual or small business, but for larger companies, it could be for a few years. According to the Bureau of Labor Statistics, the average annual salary of an investment banker is as high as $450,000. 

• Private Equity Associate

A private equity associate is a business executive that works in investment banking finding potential investors and overseeing acquired investments. Besides working on investment-related tasks, an associate thoroughly conducts market research to learn about fund management on behalf of their client. 

In addition, private equity associates maintain a solid relationship with fund managers. As a private equity associate, you must have the knowledge and particular skill set to find potential investors. 

Some essential critical skills include organizational skills to manage multiple accounts and data analysis to provide insight to clients. Besides skills, you must have certification and training to become a qualified private equity associate. You can earn between $125,000 to $160,000 a year as a first-year associate.

• Marketing Manager

Working as a marketing manager, you are responsible for developing and executing strategic marketing plans for organizations to attract potential customers and retain existing ones. Besides being highly skilled, a marketing manager must have strong leadership skills to help organizations establish a name in the market. 

Businesses thrive when customers show interest in the products and services offered, which is why most marketing managers work in corporations as a significant part of the marketing, digital or creative team. They play a massive role in creating a pathway to help organizations achieve their goals. 

A marketing manager implements marketing campaigns to promote products that bring in customers. They brainstorm ideas with senior management that guarantee promising results. Another aspect of promoting products includes organizing brand events or product launches that are a critical part of the marketing campaign. 

Depending on years of experience, the average annual salary of a marketing manager is $69,639 or more if experienced.  

Conclusion

Regardless of the industry, people with a business major will always stay in demand. So, if you are still deciding which area of study to focus on, consider getting an MBA. Besides being in high demand, there are several reasons why you should. 

From a marketing manager to a private equity associate and investment banker, there are various career advancement opportunities available. Besides that, you also learn transferable skills like critical thinking and problem-solving. Moreover, specializing in a particular field of business is also possible while pursuing an MBA.