Earning a Master’s of Business Administration can open the door to the top jobs within many industries. This is especially true if you earn a degree with a specialization in an in-demand career field.
An advanced degree shows potential employers, or even your current employer, that you have the desire to rise to the top of your profession. It also shows you have the dedication to develop a plan and see it through.
But what are some of the most in-demand jobs for MBA graduates? Here’s a closer look.
Financial managers oversee the financial operations of large companies, government agencies and non-profit organizations. Their role is critical to successful financial performance. They often direct a company’s investment strategies, develop long-range financial plans and prepare complex financial reports.
Because they are needed in every industry, there is a high demand for financial managers. While a bachelor’s degree can get you into the field, the U.S. Bureau of Labor Statistics (BLS) reports that many employers now seek those with a master’s degree to fulfill this role. Employers even specifically seek those with a MBA that specializes in finance. The median salary for a financial manager was $117,990 in May 2015, according to the BLS.
As the complexity of the healthcare system continues to grow, an increasing number of medical care facilities seek out those holding a master’s degree with a specialization in healthcare administration. Those in this job manage the operations of medical facilities such as hospitals and a network of doctor’s offices.
The healthcare industry is one of the most rapidly growing sectors of the United States economy. Demand is expected to remain high as a significant number of Americans (the Baby Boomers) move into their elderly years. The mean annual wage in May 2015 for healthcare managers, as classified by the BLS, was $106,070.
Top executives are central to the success of a company. Working in tandem with other executives, they chart the course of a business, making the final decision on everything from financial plans to production processes. In many cases, a chief executive officer becomes the face of company. There many examples of this, from Steve Jobs at Apple to Dave Thomas at Wendy’s.
An MBA that focuses on leadership and management can lead to the top spot – or corner office – within an organization. The number of jobs for top executives is expected to grow by about 6 percent in the next decade. In addition to the career challenges, the financial rewards can be substantial: the median pay for executives in May 2015 was $175,110.
Project management is a growing field, as more companies learn the value of having someone who focuses on managing the costs, time frame and efficiency of big projects. Popular positions include project manager for IT and Transition Program Manager. But there are project managers in almost every private industry, government agency and non-profit organization.
Getting an MBA with a concentration on Project Management paves the way for earning certification from the Project Management Institute. While salaries vary depending on the industry, the site Glassdoor reports the national average salary for a project manager to be about $90,000.
Securing One of the In-Demand Jobs for MBA Graduates
Certainly, there are plenty of challenging and rewarding jobs for MBA graduates. The key to landing on is finding an area you enjoy and have a talent in. And then finding the college that offers the right coursework for you.