What Can I Do With a Masters in Business Administration?
A Masters in Business Administration, or an MBA as it is more commonly known, is an advanced business degree that can be earned by students who have already earned a bachelor s degree in business or another field. The MBA degree is one of the most prestigious and sought after degrees in the world. Earning an MBA can lead to a higher salary, a position in management, and marketability in an ever-evolving job market.
Many people enroll in a Masters in Business Administration program with the hope of earning more money after graduation. Although there is no guarantee that you will make more money with an MBA, a higher salary is likely. However, the exact amount you earn is very dependent on the job you do and the business school you graduate from.
A recent study of MBA salaries from BusinessWeek found that the median base salary for MBA grads is $105,000. Harvard Business School graduates earn an average starting salary of $134,000 while graduates of second-tier schools, such as Arizona State (Carey) or Illinois-Urbana Champaign, earn an average starting salary of $72,000. Overall, cash compensation for MBAs is significant regardless of the school from which it is received. The BusinessWeek study stated that median cash compensation over a 20-year period, for all the schools in the study, was $2.5 million.
Read more about how much you can earn with an MBA.
Popular Job Options for MBA Graduates
After earning a Masters in Business Administration, most grads find work in the business field. They may accept jobs with large corporations, but just as often take jobs with small or mid-size companies and non-profit organizations.
Other career options include consulting positions or entrepreneurship.
Popular Job Titles
Popular job titles for MBAs include but are not limited to:
Working in Management
MBA degrees frequently lead to upper management positions. A new grad may not start out in such a position, but certainly has the opportunity to move up the career ladder faster than non-MBA counterparts.
Companies That Hire MBAs
Companies in every industry around the world seek out business and management professionals with an MBA education. Every business, from tiny start-ups to large Fortune 500 companies, needs someone with experience and the necessary education to support common business processes like accounting, finance, human resources, marketing, public relations, sales, and management. To learn more about where you can work after earning a Masters in Business Administration, check out this list of the 100 top MBA employers.