Business careers can be challenging, validating, engaging, and fun. They also pay well. Is it worth earning an MBA? Absolutely. According to data and feedback from business education professionals, you will financially benefit from obtaining an MBA and increase your career advancement opportunities.
We collected May 2020 job growth and pay data from the Bureau of Labor Statistics (BLS) and other sources to look at the highest-paying careers in business. Here are some of the top jobs within the business field that you can get with an MBA degree.
Chief technology officer
Median salary: $143,459
Description: Chief technology officers track, analyze, and report on the company's technology status and strategy. They also identify technologies that support the organization's goals.
Outlook: As companies continue expanding their operations to digital platforms, chief technology officers will be responsible for improving cybersecurity and implementing strategies that both protect an organization's data and enable growth.
Median salary: $134,180
Description: Financial managers analyze data, market and industry trends, and create financial reports and statements. They may direct investment activities, develop plans for the long-term financial goals of their organization, and supervise other financial employees.
Outlook: Overall economic growth drives growth for financial managers. People in this field handle responsibilities such as corporate investment management and risk management. The BLS predicts a 17% growth in this field through 2030.
Median salary: $133,460
Description: Marketing managers identify potential markets for the organization's products or services. They may work with product development, advertising, finance, or public relations employees to meet customer needs.
Outlook: Growth in digital marketing through websites and social media will drive job growth for marketing managers. Organizations will rely on these professionals to connect with customers. The BLS predicts a 10% job growth for this field through 2030.
Human resources manager
Median salary: $121,220
Description: Human resources managers lead an organization's recruitment, interviewing, and hiring of new employees. In some organizations, people with this job may also handle employee pay, benefits, and training.
Outlook: Human resources professionals will stay in demand through the next decade as organizations keep up with complex, ever-changing laws about employment, pay, and benefits at the local, state, and federal levels.
Median salary: $87,660
Description: Management consultants identify and suggest ways to increase revenue and efficiency. They may analyze financial information and work with other managers to design and implement strategies to boost revenue and cut expenses.
Outlook: Also known as management analysts, demand for professionals with this skill set will be high in the information technology and healthcare fields. The BLS projects 14% growth in this field through 2030.
This article was reviewed by Sarah Holliday, MS, GCDF
Sarah Holliday is a higher education administrator with over seven years of experience working with nontraditional and traditional-aged students in various areas related to career development, professional development, and personal enrichment. In addition to coaching students, Holliday works as an adjunct, teaching English, career development, and business courses in asynchronous, hybrid, and synchronous formats.
Holliday holds a BA from the University of Maryland, Baltimore County, in English communication and technology and a master's from Walden University in instructional design and technology (training and performance improvement). She is currently pursuing her doctor of science in information and interaction design from the University of Baltimore. Holliday also possesses her Global Career Development Facilitator (GCDF) certificate from the Center for Credentialing and Education. She is passionate about education and technology and hopes to strengthen online learning for adult learners.