MBA Salary and Career Outlook

Are you thinking of pursuing a career in business? If so, you may want to explore Master of Business Administration (MBA) programs.

An MBA program is a graduate program that trains individuals to have in-depth understanding of business functions with a concentration in an area of their choosing.

Learn more about MBA career outlook and MBA salary expectations in this comprehensive article.

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Syracuse University’s Online MBA

  • Top-ranked online MBA
  • No GMAT Required
  • As few as 24 months to complete
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UNC Kenan-Flagler Business School- Online MBA

  • #1-ranked online MBA
  • GMAT waivers available for experienced professionals
  • As few as 18 months to complete
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American University’s Online MBA

  • No GMAT required
  • Six focus areas available
  • Complete in as few as 15 months
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University of Denver's Online MBA

  • GMAT waivers for experienced professionals
  • As few as 21 months to complete
  • Concentration options available in marketing and finance
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Rice Business- Online MBA

  • Ranked No. 1 in the nation for graduate entrepreneurship education by the Princeton Review
  • Residential Intensive Learning Experiences (ILEs) hosted on campus
  • Faculty remain active in research and publish insights in Rice Business Wisdom, an online business periodical
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The University of Dayton- Online MBA

  • As few as 12–15 months to complete
  • GMAT waivers available
  • AACSB accredited
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University of California, Davis- Online MBA

  • On-campus MBA ranked among the top 50 MBA programs by U.S. News & World Report since 1996
  • Students can complete the program in as few as 24 months
  • The Graduate School of Management at UC Davis is AACSB accredited
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Pepperdine Graziadio Business School- Online MBA

  • Top-ranked online MBA—ranked 21st by U.S. News & World Report
  • GMAT waivers are available to qualified applicants
  • Scholarships available
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Can an MBA Add Value to Your Career?

The most obvious benefit of getting an MBA is the career opportunities. An MBA can greatly increase your chances of obtaining and holding high-level positions in a company.

Additionally, you will have the opportunity to obtain a higher salary. Many MBA professionals end up making six figures a year. However, your salary will depend on your MBA concentration, where you live and the company you work for.

Another huge benefit is networking opportunities. Not only do professors provide employment help and advice, but there are also many networking events held at MBA schools. Therefore, if you have limited work experience, an MBA program may make it easier to job hunt.

Lastly, MBA degree programs will teach you how to hold high-level, authoritative positions. Through a challenging curriculum, MBA programs teach you real-life skills and lessons that can be invaluable to your career. In addition, you will also learn the latest, most innovative ideas in the business community.

Employer Demand for MBAs

According to Business School Hiring Report: Corporate Recruiters Survey 2019 (PDF, 8.3 MB), 77% of U.S. employers planned to hire MBA talent that year. Moreover, 9 out of 10 Fortune 100, Fortune 500 and for-profit public companies planned to hire recent MBA graduates in 2019. In other words, the majority of large companies are hiring MBA graduates.

The report also indicated that hiring demand is strongest among consulting, energy/utilities, health care and technology industries.

Essentially, MBA graduates are in high demand among employers, and the MBA outlook is extremely positive.

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Sponsored Online Masters in School Counseling Programs
School Name GMAT Requirement Program Length Accreditation Status
Syracuse University GMAT Waivers Available 24 - 36 months AACSB Accredited
University of North Carolina Chapel Hill GMAT Waivers Available 18 - 36 months AACSB Accredited
American University No GMAT Required 12 - 24 months AACSB Accredited
University of Denver GMAT Waivers Available As Few as 21 Months AACSB Accredited
Rice University GMAT Waivers Available 24 - 36 months AACSB Accredited
University of Dayton GMAT Waivers Available 12 - 24 months AACSB Accredited
University of California, Davis GMAT Waivers Available 24 - 36 months AACSB Accredited
Pepperdine University GMAT Waivers Available As Few as 20 Months AACSB Accredited

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5 Growing MBA Concentrations

1. General Management

An MBA in general management prepares individuals to operate just about any company, including managing employees, accounts and other business operations.

An MBA graduate with a concentration in General Management can expect to find a job managing a small or medium-sized enterprise or an international company. They may also work as a consultant for businesses.

2. Entrepreneurship

Entrepreneurship is the study of business. Students will gain skills to create effective business strategies, problem solve and manage a team in a corporate setting.

An MBA concentration in entrepreneurship is ideal for individuals who want to manage a business, start their own business or take over a family business. In addition to these positions, MBA entrepreneurship graduates often get jobs in accounting, HR, and management consulting. Overall, an MBA in entrepreneurship is versatile and reliable. If you aren’t sure what MBA concentration to pursue, entrepreneurship may be a good option.

3. Information Technology

Information technology, or IT, focuses on technical skills that deal with software, security and other computer systems. Individuals with a concentration in IT will learn how to implement information technology into businesses as well as management training.

Individuals in this field of study may find a position as an IT manager or head of a company’s IT department, an IT consultant, or a computer science field. Many of these jobs have a positive job growth outlook, according to data from the U.S. Bureau of Labor Statistics (BLS). For instance, information technology (IT) managers employment is projected to grow by 11% by 2028.

4. Consulting

Consulting is one of the most varied career paths. Why? You can explore practically any MBA concentration and apply it to consulting. If you know consulting is a career path you want, be sure to take consulting classes when you are pursuing your MBA degree.

These consulting classes can help you to hone what you learn and apply it to advising others. You will learn how to analyze potential issues in a company, communicate your results effectively and problem solve to create effective solutions for businesses.

5. Marketing

An MBA in marketing teaches students all about how a company develops and implements a marketing plan and how that plan drives results. All in all, the course will teach individuals how to approach marketing decisions regarding sales, distribution and promotion.

Marketing MBA grads have a wide variety of industries they may explore. For instance, they may want to get a job in the advertising, sales, editorial, digital marketing or corporate management industries.

10 Great Paying Jobs for MBA Grads

Based on salary and career outlook, Teach.com has compiled a list of the 10 jobs for MBA graduates that pay well. Explore them below!

1. Computer and Information Systems Manager Jobs

In short, a computer and information systems manager keeps everything operational on a computer system. They are also in charge of implementing software upgrades, internet security and other computer functions.

As previously mentioned, the BLS reported computer and information systems manager positions to have a projected 11% employment growth from 2018 to 2028, which is much faster than average. Additionally, computer and information systems managers can expect a median salary of $142,530 per year.

Businesses continue to transform using digital platforms, making this an invaluable position with lots of room to grow.

2. Medical Health Services Manager Jobs

Medical health services managers have a projected growth rate of 18% by 2028. People working as medical health services managers can expect to make a median annual salary of $99,730.

Individuals in this position are in charge of managing budgets, employees and technology in a health care facility. They must also stay up to date on all health care regulations and laws that pertain to their position.

3. Management Consultant Jobs

Management consultants are trained to help organizations solve complex problems, create strategies and improve the overall operations of a business. Essentially, they evaluate the root causes of where issues might lie and formulate strategies to improve those issues.

The Bureau of Labor Statistics suspects management consultant jobs will grow 14% between 2018 and 2028, with a median salary of $83,610 per year.

4. Compensation and Benefits Manager Jobs

Compensation and benefits managers oversee various departments’ pay-structures. They typically analyze the competitiveness of their company’s pay scale, helping the company to attract and retain top talent.

Similar to other MBA professions, compensation and benefit manager positions are growing fast and are expected to continue to grow in overall competitiveness. The median salary as of May 2018 for a Compensation and Benefits manager is $121,010.

5. Sales Manager Jobs

Sales managers oversee the team of sales representatives within a company, create revenue goals and find innovative ways to generate leads within a company. In many ways, the sales managers drive results for the business, motivate its employees and grow revenue.

The Bureau of Labor Statistics projects sales manager positions will grow 5% from 2018 to 2018, which is in keeping with average overall job growth. On average, sales managers make $124,220 per year as of March 2020.

6. Financial Manager Jobs

Financial managers create financial plans for businesses, oversee investments, develop long-term strategies, review financial reports and strategize for expansion. Moreover, financial managers make sure appropriate financial processes are being used to drive positive revenue.

Financial manager positions are projected to grow by 16% by 2028, which is much faster than average. The median salary for financial managers is $127,990.

7. Market Research Analyst Jobs

Market research analyst jobs have an estimated growth rate of 19% from 2018 to 2028, and with good reason. Market research analysts study the market to make forecasts of products or services that could potentially perform well. In other words, their job is to determine what customers want and help businesses tailor their markets accordingly. This will help drive definitive results for companies.

8. Marketing Manager Jobs

Marketing managers develop marketing plans for companies, promoting the business and their products or services. Some marketing managers oversee all products and/or services a company offers, while others manage a specific line of products or a particular service.

The projected job growth for marketing manager positions is expected to grow 8% by 2028, which is faster than average.

9. Business Operations Manager Jobs

Business operations managers have a variety of responsibilities. For example, they might track business results, set business goals, ensure systems operate smoothly and monitor financial data, among many other tasks.

While business operations managers have a low unemployment rate, the average salary for business operations managers seems to be lower than other MBA graduate professions.

10. Financial Advisor Jobs

Financial advisors help individuals with financial planning. This may include investments, savings, insurance, mortgages, retirement and other finances. Successful financial advisors have an in-depth knowledge of market investments and work to help clients create financial strategies that will work for them.

Financial advisors have a job growth outlook of 7% by 2028. In many cases, financial advisors gain clients through outreach and do not work for any particular company. For this reason, salaries vary depending on the number of clients a particular financial advisor has. They may have to build a reputable client base before making a significant salary.

What Is the Average Salary for an MBA Graduate?

According to GMAC's Corporate Recruiters Survey 2019, the median annual base salary in the United States for those with an MBA is $115,00, which is $60,000 more than the average salary for a bachelor's degree alone. The majority of MBA salaries range between $85,000 to $125,000.

Keep in mind, however, that certain MBA concentrations will have a higher salary than others. Additionally, each state has a different median salary. Keep reading to learn what the average MBA salary is in your state.