Whether you’re looking to advance within your current organization, transition to a new role, or embark on your own entrepreneurial journey, earning an online MBA can be a powerful step toward achieving your career goals.
An MBA is an excellent way to expand your career opportunities and increase your lifetime earning potential. A 2023 report by the Graduate Management Admission Council found that an individual’s median total compensation increased by one-third after completing graduate business training.
Common MBA career paths for professionals with business management skills include:
- Accountant
- Risk and controls manager
- Business analyst
- Real estate agent
- Financial analyst
- Operations manager
- Project manager
- Merchandiser
- Business relationship manager
- Relationship banker
According to the Graduate Management Admission Council’s Corporate Recruiters Survey, roughly two-thirds of employers believe full business degrees are more effective for employee success than micro-credentials.
What Can You Do with an MBA?
An MBA provides professionals with a transferable skill set that opens doors to many positions and industries. Below are four common MBA career paths and corresponding average salary information.
Source: Lightcast (2024).
Consulting
Consultants work with organizations to solve complex business challenges, ranging from improving software infrastructure to optimizing marketing strategies. Consultants must possess strong problem-solving skills in order to generate innovative and practical solutions for clients. Collaboration and presentation skills are also highly valued in this field. MBA graduates can pursue generalized consulting work across various industries as management consultants, or they may pursue specialized roles in areas such as supply chain, operations, and human resources.
An MBA prepares students to excel in a variety of consulting positions, including:
| Role | Median Salary |
|---|---|
| Human resources specialist | $67,657 |
| Management consultant | $99,311 |
| Business strategy consultant | $99,311 |
| Business operations manager | $100,913 |
Finance
MBA graduates considering a finance career typically choose between two main subfields: corporate finance and investment banking. The key difference between these areas is that corporate finance professionals help businesses manage their assets and acquire funding, whereas investment banking professionals focus on raising capital.
The work environment for finance professionals can differ significantly. Investment banking careers tend to have a more demanding workload and fewer opportunities across industries, but this comes with one of the higher average salaries. Corporate finance jobs offer more manageable hours, variety, and upward mobility, but a slightly lower earning potential.
Job opportunities for MBA graduates interested in finance include the following:
| Role | Median Salary |
|---|---|
| Investment manager | $154,999 |
| Finance manager | $154,999 |
| Portfolio manager | $154,999 |
| Chief financial officer | $178,612 |
Technology
Rapid technological advancements and increased reliance on data has created an explosive demand for professionals in the technology field. This growing sector is prioritizing professionals who possess the strategic, technical, interpersonal, and decision-making skills to manage organizational growth and innovation. MBA graduates with these skills are positioned to fulfill this increasing demand.
Artificial intelligence (AI) and other new technologies also affect today’s professionals. According to the 2024 Corporate Recruiters Survey, the importance of AI knowledge is not yet a factor in hiring, but that is expected to change as AI grows. MBA programs typically update course content on a regular basis, helping students stay up to date on cutting-edge technologies.
MBA graduates in the technology sector hold positions such as:
| Role | Median Salary |
|---|---|
| Business development manager | $152,818 |
| Product manager | $152,818 |
| IT manager | $168,970 |
| Chief technology officer | $178,612 |
Healthcare
The healthcare sector is rapidly growing and evolving due to increased life expectancy, changes in healthcare law, and technological advancements. To keep up with these changes, healthcare organizations are hiring MBA graduates with the skills to manage diverse teams and navigate complex challenges.
MBA graduates will typically find roles in three areas of healthcare: care delivery, consulting, and corporate management. MBA graduates focusing on care delivery may work as administrators or managers at hospitals, outpatient centers, or long-term care facilities. In consulting roles, MBA graduates make recommendations to improve efficiency, reduce costs, and improve patient outcomes. MBA graduates on the corporate side of healthcare might support startups or existing firms in spaces such as pharmaceuticals and biotechnology.
MBA graduates are prepared for positions in the healthcare industry such as the following:
| Role | Median Salary |
|---|---|
| Corporate development associate | $99,311 |
| Healthcare consultant | $99,311 |
| Health manager | $109,757 |
| Hospital administrator | $109,757 |
Get Started Now
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