There are a number of options available to you once you've completed an MBA. These options include becoming a financial manager, a management analyst, a product manager and a marketing manager.
Master of Business Administration (MBA) programs cover theory and practice of managing all types of businesses. To prepare for an MBA program, students should have an undergraduate degree and some experience, which can include volunteer, internship or work experience. Graduates are prepared for a wide variety of entry-level careers, including those in the popular fields of accounting and marketing.
|Career Titles||Accounting Managers||Business Analysts||Product Managers||Marketing Managers|
|Education Requirements||A bachelor's degree and experience or MBA in finance, accounting, business administration or economics||A bachelor's degree and experience or MBA in management, business, economics, finance or accounting||A bachelor's degree with significant experience or MBA or related master's degree||A bachelor's degree or higher in marketing, journalism or advertising|
|Projected Job Growth (2014-2024)||7% for all financial managers*||14% for all management analysts*||9% for all marketing managers*||9% for all marketing managers*|
|Median Annual Salary (2015)||$117,990 for all financial managers*||$81,320 for all management analysts*||$77,020 for all product managers (2016)**||$128,750 for all marketing managers*|
Source: *U.S. Bureau of Labor Statistics, **PayScale.com
Find schools that offer these popular programs
- Accounting and Bookkeeping
- Business Economics
- Business Finance
- Business Management and Operations
- Business Marketing
- Business Support and Administrative Services
- Entrepreneurship and Small Business Development
- Hospitality Management
- Human Resource Management
- Information System Management
- International Business
- Sales and Merchandising
- Specialized Sales
Graduates of MBA programs might pursue a number of professional positions in business and finance. Among them are accounting manager, business analyst, product manager and marketing manager.
Accounting managers working in a corporate setting perform responsibilities relating to tax reporting and management, as well as creating and managing income statements. Professional accountants working for public accounting companies perform functions similar to those performed by auditors or tax consultants. According to the U.S. Bureau of Labor Statistics (BLS), the median salary for all types of financial managers, including accounting managers, was $117,990 in May 2015. The BLS published the median annual salary earned among accountants and auditors of all kinds as $67,190 the same year.
As the nature of business becomes more complex, both new and old businesses face new challenges. A major role of the business analyst is to help remain competitive amidst the ever changing face of business. The main job duties of a business analyst, sometimes referred to as a business consultant or management analyst, are to analyze and propose new ways to improve the profits, structure or efficiency of an organization. The median annual wage of management analysts in May 2015 was $81,320, with the 10th-90th percentile range earning from $45,970 to $150,220 per year, according to the BLS (www.bls.gov).
The product manager is the main person responsible for the profitability and market growth of an individual product or an entire product line. Product managers typically oversee a number of diverse divisions of a corporation, including sales, public relations and advertising, to ensure the timely flow of a new product to market. According to PayScale.com, as of January 2016, the median annual wage among product managers was $77,020.
The marketing manager's responsibilities are similar to those of the product manager, but are more focused on servicing and managing the accounts of previously established customers. The marketing manager utilizes skills in a wide variety of fields including marketing, customer satisfaction and marketing strategy, and is expected to stay up to date on current marketing trends. According to the BLS, the median salary among marketing managers was $128,750 as of 2015.
In summary, an MBA opens the door to a variety of careers in the fields of business, finance, management, and marketing. Entry-level jobs for degree holders typically award median earnings ranging between $77,020 and $128,750.