Obtaining a professional degree such as MBA does not only increase the scope of your job prospects but also increase the chance of earning a whooping income. So, if you are of the opinion that an MBA degree is your VISA to a high financial reward, you are certainly not wrong! Even more than that, you may be wondering as to which of the MBA careers will pay you the most, right? Okay, then read on!
Certainly yes! Despite the economic recession, there are many small and big firms that are welcoming the skills of MBA degree holders. In fact, several employers have agreed to pay double to the MBA people than to those with an undergraduate degree. This is something that all MBA holders would expect after investing two years in terms of time and $15,000 to $100,000 in terms of money depending upon the type of course as well as school selected. This is irrespective of the type of curriculum taken, including accounting, finance, and computer science.
As a matter of fact, the salary for MBA degree holders tends to vary according to the niche wherein they are employed. As per the Graduate Management Admission Council (GMAC), the consulting industry is the one that pay the highest salary to the MBA holders, wherein the average salary is around $105,000. The next high paying industry is energy/utilities after which comes the finance, health care, technology, manufacturing, and nonprofit/government industries. With the varying potential for growth by industry, it can be concluded that the consulting, accounting, and health care companies have highest offers in terms of position and pay. Moreover, one should not forget that the salary tends to vary even by the experience level. For example, an MBA person with some experience is bound to get a higher pay than a fresher. The total package may turn to be even more when bonuses and other options get added.
At present, the demand for MBA holders is much more from the manufacturing and health care recruiters. These employers are looking for those MBAs who also possess an advance degree in science, medicine, manufacturing, and law. As a matter of fact, these are the most highly paid employees. Some years back, the highest paying MBA people were in the banking and investment services. However today, the prospects and pay structures in these niches are changing very fast. As per the latest surveys, the energy-related, technology, and health care jobs for the MBAs are more appealing with an increase in the need of certified problem-solvers in these niches.
Apart from these additional courses, the recruiters prefer hiring those MBA students who have obtained good ranks during their MBA career. Further, they are willing to pay higher to financial or operational employees with MBA background than those from the marketing and human resources disciplines.
The bottom line is that since the last few years, the MBA graduates have found good job prospects in an increasing number of fields.
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