If you’re pursuing an MBA, you will be happy to know demand for MBA graduates continues to be strong. In fact, last year’s report from the Graduate Management Admissions Council (GMAC) Corporate Recruiters Survey revealed 88 percent of corporate recruiters intended to hire MBA graduates, reflecting an overall upwards trend in hiring MBAs since 2010. The same study showed employers are offering MBA graduates attractive salaries – $105,000 on average in 2016, up from the $100,000 average in 2015.
If you are looking for a career path offering strong prospects for the future, here are six MBA careers you may want to consider:
Marketing managers develop and oversee an organization’s brand and marketing development, including budget oversight, community research, campaigns, social media efforts and public relations work.
a. Hiring trend: The Bureau of Labor Statistics (BLS) projects the field will grow nine percent by 2024, which the agency classifies as “faster than average” for all other career paths.
b. Salary projections: These can vary depending on the organization, but in 2015 the median pay for marketing managers was more than $124,000, per the BLS.
Business Development Manager
These professionals are responsible for bringing in new clients and negotiating contracts on behalf of an organization. They network with others in their industry, analyze market activity and help set company performance indicators and team-based target goals.
a. Hiring trend: The BLS doesn’t specify an occupational category for this position, but it projects 5 percent growth (“as fast as average”) in Sales Manager jobs, which tend to be one step below Business Development Manager positions in corporate settings. Business development managers work in senior sales positions, and the BLS projects a five percent increase in employment among sales managers through 2024.
b. Salary projections: Depending on location, median salary for a Business Development Manager is about $70,270, with a range of $41,068 to $119,731. Bonuses ranged from $1,033 to $29,908, and profit sharing and commissions increased the total as well.
Human Resources Manager
Human resources managers oversee recruiting, interviewing and training of an organization’s employees. They often are called upon to help with any challenges that might arise concerning employees. They are instrumental in determining the compensation and benefits organizations offer its staff.
a. Hiring trend: Human resources is an area most companies cannot do without, even when times are lean. BLS projects a 9 percent hiring increase through 2024, a “faster than average” increase that translates into 10,800 new hires across the country.
b. Salary projections: The size of a company often determines compensation, but the median pay in 2015 was $104,440 per year.
Personal Financial Adviser
Financial advisers help people plan and invest for such things as buying a home, saving for their children’s education and retirement.
a. Hiring trend: This is a fast-growing occupation; BLS projects a 30 percent increase through 2024. That means nearly 250,000 new jobs nationwide – a “much faster than average” increase.
b. Salary projections: This is a competitive field, but median pay is more than $89,000 annually. Another source shows entry-level annual salaries for financial advisers to be about $55,000, but professionals can earn as much as $145,000 over time.
Fundraising is necessary for universities, charities, hospitals, religious organizations, foundations, running for office and supporting public radio and television. Professionals in these roles can be active on boards and in the community, working in advocacy positions and helping shape public policy.
a. Hiring trend: The BLS projects 9 percent increase in fundraising jobs through 2024, “faster than average”.
b. Salary projections: The BLS shows median pay to be nearly $53,000 annually. Although that may seem low for MBA holders, careers such as these offer professionals an opportunity to “give back” to the community.
Medical or Health Services Manager
This career path can also include healthcare administrators. They work in hospitals, rehabilitation hospitals, nursing homes, clinics and medical practices, and their responsibilities can include supervising staff and managing a facility as relates to healthcare regulation and changes in technology.
a. Hiring trend: With the constant change of healthcare laws, this field is projected to grow 17 percent through 2024, “much faster than average”, per the BLS.
b. Salary projections: Median pay is more than $89,000 per year, but as experience is earned, individuals can earn as much as $145,000 annually.
These six career paths are just a few of the many professional options you can consider after earning an advanced degree.
Next Steps for MBA Careers
If you are interested in earning an MBA and furthering your career prospects, you should know Notre Dame de Namur University offers a flexible, online MBA program. With a general concentration and additional concentrations in Finance, Human Resources Management and Marketing Management, the university is positioned to help students thrive in nearly any discipline.
You may speak to an admissions advisor at 855-275-1088 or click here to request more information.