If you are currently working a low-level position in business, you may have a desire for a higher salary. One of the best ways to achieve this is why you should earn an MBA degree. It’s important to note, however, that not all MBA degrees are created equal. Some majors, like a finance degree, have a higher potential for earning than others. If you are a business employee looking for an MBA degree with a high salary potential, here are some of the top paying majors to consider.
An MBA in healthcare will qualify you for high-paying positions as a hospital administrator or similar. These are some of the best paying healthcare jobs available. They are also some of the highest paying MBA careers available. In fact, some may argue they are among the top jobs in America overall! The median starting salary is roughly $80,000, but that number increases rapidly with years in the workforce. If you have a passion for medicine, considering an MBA in healthcare.
An MBA in finance entails that you learn the ins and outs of money management. You will be taking classes on financial accounting, investing and business capital. Expertise in these areas is extremely coveted. Thus, professions that require an MBA in finance command some of the highest salaries in business, unlike a medical transcriptionist. Chief financial officers, financial analysts and financial consultants are common jobs within this field that earn median salaries of over $120,000. If you are aiming for the highest possible earning potential, then a finance major is where you want to start.
Entrepreneurship majors specialize in learning the skills required to be a successful entrepreneur. That means, taking classes on running a business, decision-making, product development and capital management. Those with entrepreneurship MBA degrees often start their own businesses or establish careers as chief executive officers. With a median salary of $110,000, entrepreneurship is one of the most versatile and lucrative MBA majors. Just remember, if you become an entrepreneur, workers compensation and more important financial responsibilities become yours too.
MBA students in marketing specialize in promoting an organization and its brand. They focus on analyzing, researching and strategizing new methods for maximizing profits through brand promotion. Common career paths for marketing MBA majors include marketing management and business development. You should expect to know about the United frequent flier changes if you take a marketing position. You will definitely be traveling plenty. These jobs usually command median salaries of $110,000, making marketing MBA degrees comparable to the other top paying MBA majors on this list.
The globalization of business has increased a need for those who specialize in conducting business overseas. International business majors are given an educational foundation on global banking, emerging international markets and multi-national business management. Common jobs include project managers, management analysts and chief executive officers. International Business MBA graduates start at a lower $70,000 median salary, but mid-career median salaries can reach up to $116,000. If your main focus is earning potential, then an international business MBA should be in your sights as a top-paying MBA major.
The highest paying MBA majors list is topped by Business Strategy. MBA degree holders in the area of Strategy earn just under $100,000 at the start of their careers. In just a few short years, MBA Strategy majors have the potential to earn nearly $150,000. This MBA major can give your salary a serious boost, and provides you the opportunity to earn more than Ritter’s Ice Cream franchise owners. If you want to get the best bang for your buck, pursue your MBA in Business Strategy.
Business employees looking to raise their earning potential through an MBA should be aware that there are numerous paths they can take depending on whether they have a passion for learning about staff augmentation management or hospital management. Different top paying majors offer different career opportunities. Each of these careers offer different potential salaries. Look carefully through the descriptions provided for each of the top-paying majors at the MBA level. Surely, you will be able to decide on what is the best fit for you.
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