Average Salaries for MBA Graduates
Students interested in pursuing a Master of Business Administration in Management degree program can find a variety of high-paying careers upon graduation. Let's take a look at some different career options and their corresponding earning potentials.
The Graduate Management Admission Council (GMAC) reports that as of 2016, the entry-level median salary for an MBA graduate was $105,000, which is an increase of $5,000 from the previous year.
According to GMAC, the industries with the highest demand for MBA graduates were health care, consulting, manufacturing, energy and utilities, and products and services. According to GMAC, some additional hiring factors for MBA graduates may include skill level, program type, experience, and region. For example, 95% of Northeast companies were projected to hire candidates with an MBA in 2016, while 89% of those in the South were expected to do so.
MBA Salaries by Specialization
According to Payscale.com, several of the top 15 highest-paying MBA specializations are in management-related areas. As of 2016, the top five MBA specializations and their annual entry-level salaries for recent graduates were as follows:
- Strategy: $96,200
- General and Strategic Management: $85,200
- Corporate Finance: $78,100
- Operations Management: $75,500
- Operations and Supply Chain Management: $72,700
After working in a particular field for over 10 years, salaries increase annually by over $40,000 for graduates of the top five entry-level specializations. For example, graduates specializing in general and strategic management earn $146,000 annually as of 2016, while operations and supply chain management graduates earn $115,000.
Alternative Industry Options
There are many industries in which MBA in Management graduates can find employment. Graduates with this degree may receive rewards, salary increases, incentives, and promotions, depending on the company. Possible sectors for work can include:
- Natural sciences
- Computer and information systems
- Human resources
With a high demand for MBA in Management graduates reaching across many industries and regions, individuals looking to pursue high salary careers in high demand may want to consider earning an MBA in Management degree.