When it comes to finding a job in business, earning a Master of Business Administration (MBA) opens up a variety of opportunities to launch your career. Considering the many types of graduate degrees available, it’s important to know that employers are still interested in hiring individuals who earn an MBA. According to a 2021 Graduate Management Admission Council study, 89% of surveyed recruiters planned to hire individuals with an MBA.
There are many opportunities for recent MBA graduates to enter the business world in the area of their choice. However, certain sectors are growing rapidly and offer excellent chances of landing a job in the current market.
Some individuals know specifically where they fit in the business world, but others may still be looking for the job that’s best for them. If you’re considering pursuing an online MBA program and you’ve asked yourself, “what jobs can I get with an MBA?,” consider exploring the popular career paths discussed in more detail below.
Popular MBA Jobs
The wide variety of MBA jobs provides ample opportunity to find a business career that suits your talents and preferences. Salaries for individuals who earn an MBA are also attractive. According to a National Association of Colleges and Employers (NACE) survey, the average starting salary for MBA students in the class of 2021 will be more than $75,000.
The jobs outlined below demonstrate the range of possibilities available to individuals who have an MBA and are looking for their niche in business. From marketing to finance, management and beyond, the variety of career possibilities available to individuals who have an MBA can make earning the degree worthwhile.
1. Marketing Manager
Recent MBA grads often seek marketing positions, specifically management opportunities. All kinds of businesses need talented marketing managers, and the position attracts many candidates looking for a rewarding career with the potential for advancement.
Job duties include conducting market research, analyzing current market conditions, and strategizing ways to increase awareness of company products or services. Marketing managers set up budgets, develop pricing strategies, create company presentations and monitor industry practices to stay ahead of competitors in various areas of business.
Professionals interested in marketing management positions need excellent written and oral communication skills, presentation skills, leadership qualities, and adaptability. You must prove you know and understand the given industry and show how you can make an organization more profitable to get the best jobs in this field. This position can require long hours and hard work, but many in the field enjoy the more casual environment found in many marketing teams.
According to the U.S. Bureau of Labor Statistics (BLS), marketing managers earned a median annual salary of $142,170 as of May 2020. The BLS projects that the profession will grow 7% between 2019 and 2029, faster than the average growth for all occupations (4%).
2. Health Services Manager
The range of jobs you can get with an MBA extends into health care. With the advent of health informatics, for example, MBA grads are highly sought after in the health services industry. The greatest demand for health services managers is in the pharmaceutical and computer industries. These industries provide services to hospitals and health care organizations and are always looking for skilled professionals.
Because of the high demand for health services managers across health care companies, there are countless opportunities to work in management positions at hospitals as well as other areas of health care for those with an MBA. Biomedical startups and consulting firms also need MBA graduates to fill positions.
In the past, health care organizations focused on hiring MBAs with clinical expertise. However, with the explosion of new health care organizations focused on lowering costs, this is changing. As organizations try to manage the high costs of health care, they’re now looking for new hires with the business skills necessary to rein in costs and adopt efficient plans for the future.
According to the BLS, medical and health services managers earned a median annual salary of $104,280 as of May 2020. The pay and the employment demand — a 32% increase in employment is projected from 2019 to 2029 — make this career option attractive for those with an MBA.
3. Project Manager
Project management positions are good examples of the types of jobs you can get with an MBA. Employers in various fields are looking for MBA graduates with strong skills and knowledge in project management who can not only lead teams efficiently but also implement strategic change with the insight gained from MBA work. Project managers are responsible for all aspects of business initiatives including planning, coordination and implementation.
They typically oversee teams drawn from several departments of an organization. Some of the other tasks and responsibilities of project managers include participating in client meetings, finalizing contracts, assigning and maintaining projects among their teams, and developing high-level project plans. Regardless of the industry, all project managers have a common goal in mind: to meet revenue, cost and profit targets.
According to the BLS, project management specialists and business operations specialists earned a median annual salary of $77,420 as of May 2020.
4. Management Consultant
Often known as management analysts, management consultants work to improve an organization’s or a business’s efficiency. These individuals can work a traditional nine-to-five, or they can work for clients on a contract basis. The general goal of a management consultant is to consider the future of an industry and what can be done to ensure success down the road.
Management consultants earned a median annual salary of $87,660 as of May 2020, according to the BLS. Additionally, this career path is growing — management consultant employment is anticipated to grow by 11% between 2019 and 2029.
5. Financial Manager
The field of financial management offers a number of jobs that you can get with an MBA. Businesses are constantly searching for highly skilled professionals to oversee their finances and accounting. A financial manager creates financial reports, acts on investment plans and develops strategies for a company’s long-term financing goals, whether in banking, insurance or another industry.
Another top-paying career, financial managers earned a median annual salary of $134,180 as of May 2020, according to the BLS. The salary isn’t the only encouraging factor for this career route — employment of financial managers is projected to increase by 15% between 2019 and 2029.
How to Get a Job with an MBA
After earning an MBA, articulating your skills and talents to potential employers is crucial to beginning your career. To turn a job opening into a job offer, Cynthia Kay Stevens, associate professor at the University of Maryland’s Robert H. Smith School of Business, offered this advice in The Washington Post:
“Show clearly how you can meet that employer’s needs, both in terms of your technical skills and your intangible qualities. A general rule is that meeting needed technical skills get you invited for an interview, but meeting needed intangible qualities gets you the job offer. While you may not be the best fit for every opening, thoroughly investigating your target employer and showing how your technical skills and intangible qualities match that employer’s needs dramatically improves your chances.”
Forging a Business Career with an MBA
The extensive range of jobs you can get with an MBA shows how valuable earning an MBA can be. Pursuing an online MBA not only equips you with the necessary skills for a job in many fast-growing fields but also demonstrates your personal initiative and ability to use technology to create desired solutions — a combination of qualities that few companies can resist.
The University of Maryland’s Robert H. Smith School of Business Online Master of Business Administration program can be completed in as few as two years and offers a robust, comprehensive curriculum. From entrepreneurship and data analytics to ethics, financial accounting leadership and more, you can gain the knowledge and skills needed to pursue a well-paying, satisfying career after graduation.
For more information on the Online MBA program at Maryland Smith, contact an enrollment adviser today to talk about admissions requirements and program specifics.