A management degree offers a gratifying career depending on an individual’s qualification, skills, and experience.
A Master in Business Administration (MBA) is generally considered an advanced degree that helps students kickstart their careers at the most sought-after job positions.
It is a notion that people interested in working in the business and management sector can only pursue such a degree.
With the rise in interdisciplinary fields, a management degree can drive graduates on a successful career path by learning the skills of the areas including finance, sales, retail, technology, and health care.
An MBA prepares students to develop leadership qualities and later serve businesses and companies to achieve desirable growth results.
Here are the ten career options that graduates can pursue after earning a management degree.
- Marketing Managers
Average Salary: $141,490 per year
Marketing managers are crucial for the survival of every business to promote the products or services. Being an integral part of all businesses, they help them increase their sales and reach out to potential customers through design marketing campaigns.
To be assets for a company, they need advanced education like an Online General MBA Program to learn the skills and gain the experience to develop research-based marketing strategies.
These managers are also responsible for determining the success of a new product or service by targeting a suitable customer base at the right time.
- Financial Managers
Average Salary: $134,180 per year
Financial managers are responsible for devising and managing the overall monetary policies of organizations. They work to maintain the cash flow without any interruptions and oversee companies’ bank accounts.
Moreover, they handle the daily and annual financial paperwork. For instance, financial managers create daily balance sheets, annual business reports, financial statements, cost reports, etc.
A business cannot run and sustain itself without financial stability. An organization that does not make sound choices for expenses can run out of balance shortly.
Financial managers often have high earning potential as they monitor the budgets and save companies from going bankrupt.
- Human Resource Managers
Average Salary: $121,220 per year
Human resources managers plan, direct and oversee all the recruitment and administrative roles in organizations. Their duties include announcing the job vacancies, filtering out the best resources, interviewing the candidates, and sharing the company policies with new hires.
In addition, they’re also responsible for developing and implementing new plans and strategies to improve the quality of human resources.
Furthermore, they also act as mediators to resolve disputes between employees. Human resource managers also receive complaints regarding incompetence and violation of discipline and handle matters according to company regulations.
- Business Operations Managers
Average Salary: $107,680 per year
Business operations managers work in a variety of business departments. Their duties include hiring people, negotiating contracts, managing team projects, supervising customer services.
All businesses rely on daily operations for survival in highly competitive markets. Business operation managers help companies stay afloat during tough and challenging times.
Moreover, the rising eCommerce business also paved the way for the demand for business operations managers. They address the logistical and supply chain challenges for companies.
Companies achieve professional excellence under their leadership while managing deadlines and enforcing quality standards.
- Health Services Managers
Average Salary: $104,280 per year
Health services managers oversee the overall operations of different healthcare facilities while maximizing the quality and minimizing the cost.
They make sure their organizations comply with health service regulators. Furthermore, they maintain meticulous records to deliver a high-quality patient care system.
- Management Consultant and Business Consultants
Average Salary: $87,660 per year
Management consultants and business consultants manage businesses and companies to fight challenges while devising new practices, implementing new strategies, and launching new products or services.
Their primary responsibility is to assist companies and businesses in tackling crises during challenging times by giving an outside perspective through consultation. They enhance the efficiency and profitability of companies while making long-term shifts in practices and consumer demographics.
These consultants work on projects and often function according to their expertise in retail sales, healthcare, transportation, digital, etc. They also provide services under the support of a management consulting firm.
- Business Intelligence Analysts
Average Salary: $86,200 per year
Business intelligence analysts are responsible for analyzing and interpreting consumer data to raise profits. Besides, they also track market trends and guide companies to adjust their products and services accordingly.
It leads to an increase in efficieny and sales for companies. They rely on software to collect and analyze data and industry trends.
This data benefits them to determine the position of a business in the market, how it made progress over the years, how it can generate more revenue, and how it can lower the costs.
Business intelligence analysts often work as consultants or associate with particular businesses.
- Financial Analysts
Average Salary: $83,660 per year
Financial analysts assess the performance of financial assets such as stocks, shares, bonds, and other investments. They assist and guide business organizations to make sound investments and secure their finances.
Financial analysts are well versed with predictions about the economic growth of a company and the future performances of the investments. To start your career as a financial analyst, you must obtain an MBA degree with a finance specialization.
- Investment Bankers
Average Salary: $64,770 per year
Investment bankers work for large businesses, corporations, and government agencies to make the most out of their money.
They support achieving possible business deals and significant transactions such as financial mergers, acquisitions, pension funds, and other major business deals.
Investment bankers also develop business pitches and financial models to guide businesses regarding huge financial deals. They also coordinate with and take company executives onboard to pitch their ideas.
- Information Technology Managers
Average Salary: $55,510 per year
Information technology managers have a professional understanding of computers and business to lead large IT teams in different types of companies.
They plan and install new hardware and software, maintain the security of computers and networks, assess the costs of new systems, and upgrade networks. In addition, they also direct other IT professionals to maintain the overall technical operations of the company.
Cybersecurity is an emerging specialization in this sector that has rewarding growth potential for MBA graduates. It is estimated to grow by 12% by 2026.
MBA is the best option to pursue, especially for those who want to contribute to their respective fields at leadership positions and in executive roles.
It can also prove fruitful for entrepreneurs and small business owners. They want to upgrade the already developed businesses ecosystem and don’t want to be a part of the existing business community.