In the face of unprecedented skills shortages and widespread disruption, companies are scrambling for employees who can propel their businesses into the future. Success in today’s unpredictable environment requires strategic thinking and versatility, and Master of Business Administration graduates with these skills are in high demand.
A 2022 survey from the Graduate Management Admission Council estimates that more than 92 percent of corporate recruiters and 95 percent of staffing firms plan to hire newly minted MBAs.
Whether you’re looking to make a career switch or accelerate your growth in your current field, earning an online MBA can put you on the path to success and increase your earning potential almost immediately. According to the Graduate Management Admission Council, MBA program graduates can expect to command a median starting salary of $115,000, which is 75 percent more than those who hold a bachelor’s degree alone. Many programs also incorporate opportunities to expand your professional network, providing you with valuable career connections down the line.
What Can You Do with an MBA?
An MBA provides you with a transferable skill set that can open the door to a myriad of positions and industries. Below are four common online MBA career paths, along with job titles and salary information.
Median salary ranges are pulled from Payscale.
Median salary range: $86,654 – $131,175
Consultants work with organizations to solve business challenges, which run the gamut from improving software infrastructure to optimizing marketing strategies. Problem-solving skills are crucial in this field, as they allow hires to generate innovative and practical solutions. Collaboration and presentation skills are also valued in this industry. Most MBA graduates in consulting work across various industries as management consultants, while others pursue specializations in areas such as supply chain, operations, and human resources.
An MBA prepares students to excel in a variety of consulting positions, including:
- Management consultant
- Business operations manager
- Business strategy consultant
- Human resources specialist
Median salary range: $66,355 – $153,783
MBA graduates considering a career in finance typically choose between two main subfields: corporate finance and investment banking. In short, the distinction between these subfields 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 these subfields differ significantly. Investment banking jobs tend to have intense hours and a demanding workload, but this comes with one of the highest salaries in the industry. Corporate finance jobs offer more manageable hours, but a slightly lower earning potential. Corporate financing jobs also offer more variety and mobility than investment banking jobs, as there are more opportunities across industries and locations.
Job opportunities for MBA graduates interested in finance include:
- Chief financial officer
- Finance manager
- Investment banker
- Portfolio manager
- Accounts manager
Median salary range: $80,603 – $134,970
In the wake of a rapid shift to remote work and distance learning during the pandemic, the technology sector has faced explosive demand for its services. As the sector matures, tech companies are recruiting talent with strategic, interpersonal, and decision-making skills to manage organizational growth and innovation. It’s no surprise that MBA graduates with these core skills are positioned to fulfill this increasing demand. According to the 2022 Corporate Recruiters Survey, 96 percent of responding tech employers expressed a high degree of confidence in business school graduates’ ability to succeed in their organizations. The survey also found that MBA graduates move into positions of leadership at a quicker pace.
MBA graduates in the technology sector hold positions including:
- Product manager
- Business development manager
- Supply chain manager
- Chief technology officer
- Marketing manager
Median salary range: $87,007 – $133,470
The healthcare industry is rapidly growing and evolving due to an aging population, changes in healthcare law, and advancements in technology. To keep up with these changes, many healthcare organizations are hiring business school graduates who are equipped with the skills to manage diverse teams and navigate complex challenges. Opportunities for MBA graduates primarily span three areas of healthcare: care delivery, consulting, and corporate. 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 healthcare organizations on how to improve efficiency, reduce costs, and increase revenue. Working on the corporate side of healthcare, MBA graduates might create or support startups or existing firms in spaces such as pharmaceuticals and biotechnology.
MBA graduates are prepared for positions in the healthcare industry such as:
- Health services manager
- Health administrator
- Healthcare consultant
- Corporate development associate
Get Started Now
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