6 Highest-Paying MBA Jobs to Look For in 2022
An MBA is a valuable and worthy degree if you are thinking of pursuing a career in business, as it comes with many benefits. One of the biggest reasons you should opt for an MBA degree is that it offers plenty of opportunities for people who want to expand their careers and have access to high-paying job positions worldwide.
After reading this, your next question will be –how much will I earn with an MBA degree? Your earnings depend on the field of business you want to specialize in, as an MBA degree covers many careers such as economics, operations, marketing, and healthcare.
Suppose you're interested to know more about this business degree. In that case, our article will provide a thorough guide of an MBA, the types of industries that employ most MBA graduates, and a list of the highest-paying MBA jobs for 2022.
Which Industries Employ Most MBA Graduates?
Another perk of being an MBA Graduate is that the industry's demand for such graduates increases. The main reasons why MBA Graduates get employed are:
To gain experience and new perspectives
Creative thinking
To support company growth
The most significant advantages for new graduates are the promotions and bonuses. According to research by the Graduate Management Admission Council (GMAC), the median starting salary for an MBA graduate was $115,000. According to U.S News data, MBA graduates are in high demand in industries such as:
Investment Banking,
Technology,
Financial Services,
Consulting,
Manufacturing,
Media/Entertainment,
Healthcare (Products & Services).
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6 Highest-Paying MBA Jobs In 2022
While the main aim of an MBA Degree is to prepare you for a career in business administration, the knowledge and skills you gain can give you a position in some of the highest-paying jobs in the market.
Getting an MBA degree may seem like a lot of money, and it is, but once you get into the business and consider your future salary, this investment will be worth it. Read on to learn the best MBA jobs you can get right now.
Chief financial officer
With an MBA degree, you can work as a chief financial manager. You will mainly deal with decision-making processes and advising clients so that they become financially successful in their business. The advising part is vital since it improves profits and keeps the stakeholders in touch about its financial status.
Other duties of a financial manager include managing the health of a business to stay profitable and deciding the company's financial strategies. Many employers choose to hire MBA graduates who have strong problem-solving skills.
According to the Bureau of Labor Statistics, the annual salary for a financial manager was $134,180 in 2020. As you gain more experience, the wage can be increased up to $400,000 per year, making chief financial manager one of the highest-paying jobs for MBA graduates.
Business operations manager
Being a business operations manager, you must deal with different approaches to business, such as manufacturing, providing services, planning, or production. If you're thinking of pursuing an MBA degree in operations management, you need to know that this position offers an international perspective on the industry and its trends.
The primary duties of a business operation manager are to deliver predictable and reliable services so that customers know they can rely on your products and services. A business operation manager is like the backbone of a department in that they help a company meet its goals and execute the corporate strategy.
To be a successful business operations manager, you need to possess skills such as:
Conflict management;
Production-oriented operations;
Data processing.
The BLS data shows an operation manager earns $123,880 per year in terms of the annual salary. This job pays a decent amount of money; that's why they're focused on individuals who have analytical and organizational skills.
Senior project managers
If you've learned anything from MBA, it teaches you how to lead and manage people in many projects. Knowing how to work in various teams is crucial because that sets the tone for your role as a senior project manager in your MBA education. Project managers care a lot about their clients' demands and what will sell best, so they have to have a great deal of strategy to ensure that a product is released correctly.
With the trends for project managers increasing, it is no doubt that senior project manager is among the highest-paying MBA jobs in the world. According to the BLS data, a project manager's starting salary sits around $85,000, reaching up to $125,000.
Product managers usually work in the technology sector to help create apps, digital products, mobile devices, and websites. So, these managers must understand the technology and understand finances, sales, and marketing. However, project managers can find work in other industries too.
Investment banker
Leading a career as an investment banker is challenging but comes with high rewards for those willing to work hard in the first years of their job careers. First of all, this position requires an excellent resume, positive transcripts, and perfect interviews.
Investment banking is an incredibly lucrative career, so the annual salary can be anywhere from $200,000 to over $500,000, making it one of the top-paying MBA jobs you can get with your degree.
Investment bankers have multitasking skills since they have to help large corporations, businesses, or government agencies with funds investments. They also help with significant transaction funds, financial mergers, and essential deals.
Marketing manager
If you're a creative person who enjoys communication and working with people, being a marketing manager is a career you can lead. One of the benefits of this career is its diversity of tasks and deliverables because it deals with marketing materials, designing, creating websites, making campaigns, and more.
As a marketing manager, you should be aware of advertising campaigns, as they cost a lot. You must also be able to work and interact with teams and clients who want to be kept updated on everything. This is also a high-paying MBA job, with an average of $142,780 annual salary.
Besides working on marketing materials and campaigns, as a marketing manager, you need to develop skills that help you to:
Work on a budget;
Negotiate advertising contracts;
Create and analyze market research studies, etc.
Management consultant
A management consultant is the one that helps businesses–small and large, to create plans that later on increase the company's profits and expand their client bases. Management consultants are usually self-employed, and they work with specific companies and projects. For any individual who prefers some autonomy, a management consultant is among the best jobs for MBA grads.
Many management consultants work with other management teams and CEOs to create plans that make them remain relevant in today's market. The average pay for management consultants ranges from $90,217 annually to over $100,000 if you work for an exclusive company.
Medical and health services manager
As the name suggests, medical and health services managers are part of the health care sector, where they have to work for hospitals, clinics, or skilled nursing facilities. In other words, they have to make sure that these health care facilities are following the rules by the government or accrediting agencies and interact with health care workers. If you hold an MBA degree and want to lead a career in the healthcare industry, this is a highly rewarding job.
To be a health services manager, you should have excellent communication and critical thinking skills and be able to apply such skills in the medical world. The money payoff is high, too, with an annual average of $86,937 or even higher if you work in high-end agencies or significant hospitals.
As a health service manager, you are also expected to deal with:
Information technology;
Health care organizations;
Digital health records.
To Wrap Up
As you can already see, an MBA degree is a great way to expand your career options, take on more responsibilities at work, and get lucrative pay for that. You can use this degree to your advantage by completing financially rewarding programs for you and your career. Whether you prefer to work independently or with a team, MBA programs allow you to be flexible yet creative, and that's always a bonus.