Many professionals pursue an MBA at a business school to supplement their foundational skills and knowledge from their undergraduate education. Others do so to improve their skills for employment in leadership and management positions.
A master’s degree in business administration (MBA) can provide you with the necessary skills and knowledge to advance your career, earn higher annual salaries, and earn job promotions. This article will discuss some of the high-paying jobs that require an MBA.
What Are Good Jobs That Require an MBA?
The good jobs that require an MBA include marketing, investment banking, technology, corporate finance, human resources, supply chain management, and healthcare management.
The MBA curriculum is designed to provide students with the business, quantitative, and analytical skills needed to pursue career opportunities in a wide range of industries.
With an MBA degree, you can work in various job roles such as financial officer, financial advisor, marketing manager, benefits manager, human resource manager, and healthcare marketing manager. An MBA also qualifies you for executive-level positions such as chief executive officer, chief information officer, chief financial officer, chief technology officer, and chief operations officer.
Why Get a Job That Requires an MBA?
- High Annual Salary: Research suggests jobs requiring a Master’s Degree in Business Administration pay significantly more than jobs requiring a bachelor’s degree.. According to the survey by MBA.com, MBA holders from the class of 2021 have a median starting salary of $115,000. This value is higher than their counterparts in other degrees.
- Favorable Job Outlook: The Bureau of Labor Statistics predicts that jobs in management occupations will grow by nine percent in the next 10 years. This equates to approximately 906,800 jobs for MBA holders.
- Career Advancement: An MBA degree is an ideal qualification to pursue if you actively seek to advance your career and climb the career ladder, or if you are interested in leadership roles.
Is It Easy to Find a Job That Requires an MBA?
It is easy to find a job that requires an MBA. The MBA degree is versatile, and the job growth for jobs that require an MBA is positive. This implies there are numerous opportunities available in a wide range of sectors. There are many career specializations you can pursue depending on your career interests.
However, you still need to put in the hard work to stand out from a crowd of applicants for jobs requiring an MBA. Every year, business schools produce hundreds, if not thousands, of MBA graduates. As a result, you must still demonstrate that you are the best candidate for the job.
Jobs in Demand Now That Require an MBA
Employers prefer candidates with a business education for management positions because they can make a positive impact in a short period. Here are some of the in-demand jobs that require an MBA degree.
| Job | Average Salary | Outlook | Requirements |
|---|---|---|---|
| Financial Analyst | $83,660 | 6% | A Master’s Degree in Business Administration or any math or finance-related fields |
| Management Consultant | $87,660 | 14% | A Master’s Degree in Business Administration or other related fields |
| Product Manager | $113,446 | 10% | A Master’s Degree in Product Management, Business Administration, Economics, Business, or related fields. |
| Accounting Manager | $88,216 | 7% | A Master’s Degree in Business Administration with an accountancy concentration |
| Investment Banker | $80,540 | 4% | A Master’s Degree in Business Administration, Finance, or other related fields |
| Chief Operations Officer | $128,264 | 8% | A Master’s Degree in Business Administration or related fields |
| Sales Manager | $132,290 | 7% | A Master’s Degree in Business Administration |
| Health Services Manager | $104,280 | 32% | A Master’s Degree in Business Administration, Healthcare Administration, or related fields |
| Engineering Manager | $152,824 | 4% | A Master’s Degree in Business Administration or Engineering Management |
| Operations Research Analyst | $86,200 | 25% | A Master’s Degree in Business Administration, Mathematics, Computer Science, Engineering, or related fields |
What Are the Highest Paying Jobs That Require an MBA?
Financial Analyst
Financial analysts are business professionals who analyze financial reports to help companies devise a business strategy that guides a company’s decision. They also research economic trends, financial models, and the microeconomic and macroeconomic aspects of the business to make future economic predictions. They evaluate opportunities to make profits and report their findings to upper management.
Management Consultant
Management consultants work in consulting firms. They provide industry counsel and business expertise to solve business, operational, and organizational problems. They conduct in-depth research and business assessments to develop solutions and improve the business operations of their employers. They also collaborate with the upper management to implement and execute projects.
Product Manager
A product manager oversees the development and marketing of a product at all stages of production, from concept to shipping. They act as a liaison between the various departments involved in production, ensuring that products meet specified specifications and production guidelines.
Accounting Manager
Accounting managers oversee the day-to-day operations of the accounting department to ensure efficient production schedules of financial statements, analyses, and reports. They monitor the financial status and health of the organization, ensuring compliance with relevant legislation, regulations, and business rules.
Investment Banker
These people work for investment firms such as Bank of America Corporation, Goldman Sachs, JPMorgan Chase, and Morgan Stanley. Typical job duties of an investment banker include asset management and assisting clients in huge financial transactions such as mergers and acquisitions. They also act as financial advisors to help their clients make financial decisions.
Chief Operations Officer
A chief operations officer oversees the company’s day-to-day business, administrative, and operational functions. They work closely with the chief executive officer and are regarded as the second in the chain of command in the business. They also design and implement business operations and create policies to help the company achieve its business goals.
Sales Manager
Sales managers build and lead the sales department of an organization. They are responsible for setting sales targets, designing sales plans, and managing sales quotas. They analyze sales data and customer satisfaction rates to develop agile sales strategies to help the company meet its sales targets. In addition, they recruit and organize sales team training programs.
Health Services Manager
Health services managers oversee the daily operation of a medical institution. They plan, direct, and coordinate the delivery of healthcare services. They work with doctors, nurses, and other healthcare professionals to ensure that medical services are administered in a timely and efficient manner. They are also in charge of hiring, training, and managing hospital employees.
Engineering Manager
Engineering managers direct the technical and engineering operations of an organization. They are in charge of planning, supervising, and ensuring that engineering projects are completed in accordance with the clients’ expectations. They also hire employees, set budgets, and work with other departments within the company.
Operations Research Analyst
Operations research analysts employ analytical models, artificial intelligence, data mining, and other research techniques to analyze raw data and convert it to business intelligence assets. They help businesses to solve problems and make decisions. They provide advice on business issues such as resource allocation, pricing, production schedules, and labor.
What Training Do You Need for a Job That Requires an MBA?
You need foundational training for a job that requires an MBA. These will include other educational qualifications, but keep in mind that your specific field may require additional training or job experience.
Obtain a Bachelor Degree
The first step is obtaining a college degree in a field of study relevant to your career interests. A bachelor’s degree is a basic requirement for admission to a business school’s MBA program. You could also prepare for an MBA program by taking introductory business courses.
Gain Work Experience
Work experience is another important requirement for admission to a business school. Some business schools prefer applicants with a few years of work experience. After graduation, try to gain work experience and professional responsibility by working in entry-level positions.
Attend A Business School
Find an MBA program that suits your career goals and dedicate the time and effort to complete the program. It usually takes around two years to complete an MBA program. However, accelerated MBA programs can help you graduate in less time. After earning your MBA, you will be able to apply for jobs that require an MBA.
Can a Coding Bootcamp Help You Get a Job That Requires an MBA?
A coding bootcamp cannot help you get a job that requires an MBA. Coding bootcamps offer structured programs to equip people with technical skills to gain jobs in technology. However, their programs do not provide a graduate degree, leadership skills, or management skills necessary to qualify for jobs for MBA degree holders.
Where to Find Jobs That Requires an MBA and Pay Well
There are numerous online resources that can connect you to high-paying jobs that require an MBA. A variety of industries are looking for these highly-qualified professionals. Here are some job search websites for MBA graduates.
LinkedIn is the world’s largest professional networking website, with over 800 million users. A LinkedIn profile can assist you in your job search. It functions as a platform for job seekers to connect with potential employers and a database of job openings. Recruiters can use your profile as a digital resume.
Indeed
Indeed is another important platform that can help you with your job search. It has over 250 million monthly users, making it one of the largest job boards in the world. Even more impressive, 10 new job alerts are issued every second. Indeed posts job openings across education levels, locations, lifestyles, and experience levels.
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Glassdoor
Glassdoor offers valuable insights into millions of companies and potential employers. It provides information on job openings, salary comparisons, benefits, and interview preparation. Glassdoor can assist you in your job search for an MBA position.
Ready to Start Your New Career?
Do you want to pursue an MBA? Is an MBA required for your dream job? If you answered yes, you would need to attend a business school or an accredited university to obtain an MBA. An MBA degree is a prerequisite for many management and leadership positions in various industries.
Moreover, there is a huge demand for MBAs in the job market. These jobs pay a favorable annual salary and have a positive job outlook. It will likely take a few years of dedicated study, but an MBA will set you up for numerous job opportunities.
Jobs That Requires an MBA FAQ
There are numerous high-paying MBA positions available. You can look into career opportunities in various industries. All of the jobs mentioned in this article are excellent examples of what you can do with an MBA.
You don’t need an MBA to be successful in business. An MBA can provide the education needed to manage a business. However, it does not provide a guarantee for success. Many people have achieved considerable success without obtaining an MBA.
Hospital administrator, pharmaceutical project manager, policy analyst, and health service manager are notable examples of jobs that require an MBA in healthcare.
There are numerous opportunities for MBA graduates in federal and state government agencies. You can work in the Departments of Public Health, Internal Revenue Service, Labor, and Commerce.
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