Moving from analyst to management roles, that is what business school graduate programs are often compiled how, in a way to help seniors to go up the corporate ladder more fast. These positive changes lead to a salary growth.
As the last Wall Street Journal survey says (nearly 7000 recent degree earners), people in all the spheres who got their MBA degree and then returned to their scope, got doubled pay. And those who used their MBA programs to change careers got even higher boost wages percentage.
But we should find in which scope and which jobs bring the best opportunities for newly minted MBAs, because not all MBA-degree jobs in strong demand. Primary the most hirable positions for MBA graduates are: general management and operations functions, consulting. Also there's a high demand for MBAs to partner leadership development programs in such sectors as technology and finance.
Here are the Hot Jobs for MBA Graduates 2019-2020:
1. Financial manager
2. Consultant
3. Product manager
4. Product marketing manager and brand marketing manager
5. Medical and health services manager
1. Financial Manager
MBA finance jobs are steadily popular. According to ZipRecruiter, these are four positions from the 10 most in-demand job titles requiring an MBA: "director of finance", "controller", "chief financial analyst" and "senior financial analyst".
For financial models to run successfully, employees should have the technical specific skills. It's also includes the ability to translate finance into strategy and a skill of impact on C-level executives and business departments how they credit dollars yearly.
According to the Bureau of Labor Statistics average wage for financial managers in 2017 was $125.080
Here are some Business Schools with these programs:
- Warwick Business School (WBS), University of Warwick, UK
- NYU Stern School of Business, New York University, USA
- IE Business School, Spain
- HEC Paris, France
- University of Western Ontario - Richard Ivey School of Business, Canada
2. Consultant
Management consultants, working on a contract or project base, provide expertise to the companies facing a lot of problems and challenges or attempting to implement new processes. They help to upgrade efficiency, increase return and long-range planning. Consultants thinking about future development of the work and what how it impacts for their clients. According to the Bureau of Labor Statistics average salary management consultants in 2017 was $82,450.
Some Business Schools with these programs are:
- UCLA University of California, Los Angeles - Anderson School of Management, USA
- University of Cambridge - Judge Business School, UK
- NUS Business School, National University of Singapore
- Queen's University - The Stephen J.R. Smith School of Business, Canada
- University of California, Berkeley - Haas School of Business, USA
- Cornell University - Samuel Curtis Johnson Graduate School of Management, USA
3. Product manager
According to ZipRecruiter, an online employment marketplace with job advertisements, the most popular job titles are " Senior product manager" and "product manager". They got into the top 10 occupations requiring an MBA. Product managers align activity among development, finance and marketing teams to create and produce new widgets and systems under the budget and deadlines. All their work shows how strongly the technology company nowadays impact the business world.
There's a great amount of Business Schools with these programs:
- NYU Stern School of Business, New York University, USA
- ESMT Berlin, Germany
- Stanford University of California, Los Angeles - Anderson School of Management, USA
- IE Business School, Spain
4. Product Marketing Manager and Brand Marketing Manager
Nowadays a great amount of data in marketing encourage marketing professionals and give a good impetus to enter the MBA programs.
A lot of brand manager's work is based on the work of product managers. These professionals often assessing the competition, recognise the product value of the company and bring that value to potential client.
According to the Bureau of Labor Statistics,
average salary for marketing managers in 2017 was $132,230.
Business Schools that propose these programs:
- HEC Paris, France
- Cass Business School, City University London, UK
- NYU Stern School of Business, New York University, USA
- University of Western Ontario - Richard Ivey School of Business, Canada
- IE Business School, Spain
5. Medical and Health Services Manager
Health and medical services managers on the positions of the health care administrators and executives, will be most sought after workers in the industry while the needs of American population are growing with the age. These managers supervise finances and operations at different patient-care institutions like nursing homes, clinics, hospitals.
Health care industry, because of its growth in the global and U.S. economy, becoming a big and important employer for MBAs.
And many MBA programs are dedicated to particular public health to produce workers for these positions.
Bureau of Labor Statistics says that in 2017 the average salary for medical and health services managers was $98.350.
Business Schools with these programs:
- Harvard Business School (HBS), USA
- Warwick Business School (WBS), University of Warwick, UK.
- Columbia Business School (CBS), Columbia University, USA
- Stanford University - Stanford Graduate School of Business (GSB), USA
- NYU Stern School of Business, New York University, USA
- Frankfurt School of Finance & Management, Germany
"Poets and Quantums" making a big research
Their studies allow to talk about the specialization of the business schools. The research includes the participants from all over the world with the level of salaries of MBA graduates. Here is the information about the three main categories: the consulting industry, the technical industry and the financial industry, focusing on Top-15 schools in each field.
Finance Industry
For now one of the most evident trends in finance is the mostly static salaries, even though the wage was growing in the immediate past. Among 35 schools, that were explored by P&Q, there was zero change in average basic income in 15 schools. The most high average salaries are at HBS and Stanford, both at $150,000. The average basic income for the 10 most elite schools of the USA is $132,250.
Consulting Industry
If we have a look at the top 10 schools with the average basic salary, the middle for the consulting MBAs in 2018 was $142,340.
Tech Industry
According to analysis of three years of employment reports from the top business schools of Europe and the United States, the full-time MBA hiring for technology positions is steadily increasing, as from the elite schools or the middle management. There's one school that is very ahead in the percentage of MBA grads taking jobs in tech. It is The University of Washington Foster School of Business. Graduates of Chicago Booth, MIT Sloan, Michigan Ross and other b-schools are hired by Google, Amazon and Microsoft. Nine from the top 10 USA schools stated an average basic income of $130.000, and only Stanford's was above $135.000. that is the highest average salary of any school. For the European's school, the most high average base income of the graduators was for MBAs from HEC Paris: $131.000. The median base salary for other European schools was $101,057.
To sum things up the most credible and safe investment in your life is getting a Master of Business Administration (MBA) degree. It has many positive aspects: expansion of your career capacity, trains you to be the number one in today's competitive job market and prepares you for good paying jobs.
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