Earning an MBA can open up a wide variety of career paths. Graduates may find work as marketing managers, financial analysts, or accountants - positions which are expected to expand at faster-than-average rates in the coming years.
Online Master of Business Administration students participate in a curriculum similar to campus-based programs. Topics can include finance, management, general business courses, marketing, and economics. Many online MBA programs includes residency work, which requires students travel to campus for brief periods of time for classroom work and projects.
|Career||Marketing Manager||Financial Analyst||Accountant|
|Education Requirements||Bachelor's degree||Bachelor's degree||Bachelor's degree|
|Projected Job Growth (2014-2024)||9%*||12%*||11%*|
|Median Salary (2015)||$128,750*||$80,310*||$67,190*|
Source: U.S. Bureau of Labor Statistics
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Graduates of an online MBA program have the opportunity to pursue a variety of different career paths. Common employment options include positions in marketing, finance, accounting, operations, operations, and management. Recipients of an online MBA degree can also find employment at corporations, non-profit organizations, and other government institutions.
Marketing managers work with other professionals to create specific marketing campaigns with the intent of increasing awareness and sales for a product or service. They can also serve as the point of communication between the clients and the in-house creative staff that executes the marketing strategy.
The U.S. Bureau of Labor Statistics (BLS) stated that the median salary for marketing managers in 2015 was $128,750. The BLS also projected a steady 9% growth rate in employment opportunities for marketing managers from 2014-2024.
Financial analysts provide support and advice to companies, individuals and organizations looking to assess their investment decisions. Responsibilities can range from analyzing the stock market to creating investment portfolios. Individuals interested in specialized or advanced positions are required to obtain a master's degree, such as an online MBA.
According to the BLS, financial analysts earned an average salary of $80,310 in 2015. The bureau also noted that job opportunities for financial analysts are increasing faster than the national average, at a rate of 12% from 2014-2024.
Accountants are responsible for ensuring the accuracy of monetary reports, preparing and filing taxes, and assessing financial records and stability. Several professionals choose to become a Certified Public Accountant, in addition to their master's degree, to increase job prospects in the field.
Accountants received an average salary of $67,190 in 2015, according to the bureau. The BLS also stated that job opportunities for accountants will increase at an 11% rate from 2014-2024.
Compensation for Online MBA Graduates
Compensation for MBA graduates varies greatly depending on the type of business, as well as where the job is located. For example, according to PayScale.com, annual median salaries in 2016 for MBA graduates might range from a low of $47,700 for a human resources manager to $241,370 for a chief financial officer.
Salary Ranges for Online MBA Graduates Based on Geographic Location
Pay ranges for MBA holders also vary according to geographic location. PayScale.com reports median salaries for MBA holders in 2016 as follows:
- San Francisco: $112,878
- New York: $100,300
- Houston: $94,970
- Chicago: $92,365
- Atlanta: $91,450
- Dallas: $84,540
Marketing manager, financial analyst, and accountant are three career options for a professional holding an MBA. While financial compensation for MBA graduates will vary depending on the nature of their work, it may also vary widely by location.