Getting an MBA is more challenging than it may seem. It is a significant investment, and it is only sometimes guaranteed that you will be able to land a high-paying job. However, there are some advantages to it.
Business operations managers
Obtaining an MBA can help you in many ways. You can earn a high salary and access various career opportunities. You can also choose a specialty that will increase your earnings. For instance, earning an MBA in engineering can put you in an excellent position for a job in that field.
Business operations managers are essential in any company. They work closely with human resources and other departments to ensure that the company’s operations run smoothly. They oversee budgets, monitor financial data, and analyze technology. They help set up processes and policies that benefit the entire organization.
There are many types of business operations managers. Most are c-suite level executives who supervise other lower-level managers. They are responsible for monitoring business performance and suggesting improvements. Depending on the company’s needs, you could be called upon to work in several different roles.
The best MBA accounting salary, like that of operations managers, was $161,190 on average in 2020. The average pay for the remaining group was $103,650.
Investment Bankers
Investing in a business degree, such as an MBA, can help you get a high-paying job in investment banking. Aside from financial skills, an MBA gives you the ability to understand the global economy. You can also take advantage of networking opportunities to further your career.
Investment bankers work with companies to raise capital privately or go public. They help companies identify and mitigate risks in their business operations. They use various software programs for financial analysis and have an advisory role in deal negotiations. Typically, investment banks charge a percentage of the money raised or acquired.
The financial services industry is among the highest-paying industries, with average salaries ranging from $75,000 to $100,000. These jobs are available in urban centers, such as New York, and in more rural areas.
The financial services industry is a fast-paced, competitive, and high-stakes environment. While the pay is high, there can be a lot of stress. Many investment bankers leave the field for other finance-related fields.
Product Managers
Whether you’re a business major or an engineering graduate, a career in product management is an excellent option. You’ll be crucial in creating a new product, ensuring it launches and deploys on time, and finding ways to increase user retention.
You can start working in the field right out of college or continue working your way up the corporate ladder. Depending on your experience, you’ll earn a higher salary as you move up the ladder. Despite the higher cost of living in Silicon Valley, product manager salaries are comparable to the national average.
If you need help breaking into the field, certification programs are a great way to get started. You can complete a certification program in about a year. You can also join a professional association for product managers, the Association of International Product Marketing and Management. These organizations offer courses online and in person.
Most companies are interested in candidates who have industry-specific knowledge. You can use this to your advantage by finding a high-demand industry.
Accountants
Getting an MBA in accounting is a great way to earn a high-paying job. The accounting industry is expected to grow by nearly 10 percent between now and 2026. You can take several different career paths to get into the accounting field.
The most common path is to become an accounting manager. You will be in charge of keeping the organization’s finances in order. This requires strategic planning and implementing ways to maximize profits.
You will also need to know the tax codes and laws applicable to your industry. For example, if you work for an accounting firm, you will need to know how to value the company’s assets and interpret financial statements.
If you’re looking for an entry-level accountant position, you can receive a salary of around $49,284. This salary is lower than that of the top earners in this profession, but it is still a decent salary.
