5 Highest Paying MBA Career Paths
MBA jobs range from human resources to marketing and production planning to classic management. They all offer different job opportunities and require different skill sets. Depending on your natural talents, interests and abilities, you could find an MBA that reflects your personality and takes advantage of your greatest strengths. Let’s take a quick glance at some of the top careers for MBA grads.
Chief Technology Officer
A chief technology officer or CTO establishes a company’s overall technological vision and oversees all technical development. A traditional manufacturing company’s CTO will plan the upgrade of its product data management system, production planning software like SAP, and implementation of software tied to its products as well as any ecommerce sites. Those with the ability to oversee technical projects and technical professionals are paid better than those who simply manage people or traditional products because fewer have the skillset and knowledge to do it right.
This is one of the careers with an MBA that is open to those with either a STEM degree as their undergraduate degree, or other credentials in IT.
Computer and Information Systems Manager
This profession can be seen as the step above a technical project manager, and you may be on the path to becoming a CTO one day if you do it well and work for a company where technology is its lifeblood. A computer and information systems manager manages websites, intranets, computer networks, desktop computer images – in short, all the hardware or software.
There are usually several computer and information system managers in a large company. One may be responsible for servers and virtual servers, another the company website, a third key software applications used by engineers and finance, another supervising all of the wireless networking infrastructure and access in the building, a fifth handling the information security and assurance of the entire computing infrastructure.
This job requires someone have a degree or strong certifications in IT, computer science or engineering. Personnel management is a plus, but having experience managing people isn’t enough.
One of the best paying careers with an MBA is managing the finances of a company. The financial manager may oversee accounts billable, accounts payable, cash management, budgeting or payroll. They may create financial procedures, help raise capital, or handle the financial side of mergers. This career path may be an option for you if you’re a portfolio manager or financial analyst. Once you have an MBA, you can get promoted to a senior financial analyst, finance director or even chief financial officer.
Investment bankers help raise money on the capital market for their customers, whether private companies, municipalities or non-profits. They raise money through equity (selling stock) or debt. Investment bankers provide advice regarding mergers and acquisitions. An MBA is a minimum to work in this field, though some employers specifically require a concentration in finance or a bachelor’s degree in accounting.
An MBA is no longer an open door to a management position. The strongest growth and highest paying positions for MBAs in finance and technology require either a bachelor’s degree or MBA specialization to be considered for high paying jobs like health services administration, technology management and the corporate board. Investment banking and investment fund managers are good paying jobs for MBA graduates, and an MBA is seen as a minimum to enter these fields.