When it comes to choosing a career, there are hundreds of options and roles to consider, ranging from accountant to zoologist. Ever wonder which has the highest earning potential? According to the U.S. Bureau of Labor Statistics (BLS), the highest median wage of all major occupational groups is found in management.
Interested in pursuing this high-level career? A Master of Business Administration (MBA) degree can make the difference. Fitchburg State University (FSU) offers an accredited, fully online MBA in Management. Students can complete coursework in just 12 months and be on their way to a rewarding career.
How Can Earning an MBA in Management Pay Off?
The overall outlook for management occupations is strong. In fact, a 2016 report by the Graduate Management Admission Council (GMAC) found that business school alumni are “high-value recruiting targets for employers worldwide.”
Although job growth in management is about average, faster job growth is projected for some management occupations. For instance, the BLS explains that demand for computer and information systems managers is growing as more businesses expand to digital platforms. Job growth in this field is 15 percent, more than twice that of all occupations.
Prospective MBA students may want to consider the potential financial benefits of this degree. At $110,000 (per GMAC estimates), the projected median wage for management occupations makes it the highest-paying of all major occupational groups. The median wage for all occupations is $37,040.
What Are Some Career Opportunities With an MBA in Management?
An MBA in Management can open doors to diverse job opportunities in various industries. Among graduate business school alumni surveyed, the GMAC study found that the greatest percentage held jobs in the following industries:
- Products and services (19%).
- Finance and accounting (19%).
- Technology (17%).
There is no shortage of career opportunities for MBA in Management graduates. And this versatile degree makes it possible to align personal interests with career choices. Sports enthusiasts, for example, can apply their advanced skills and knowledge in the sports media industry.
A snapshot of a few career paths follows, with salary data drawn from the BLS:
Chief Executive Officer: Senior managers of large corporations often hold an MBA. These top executives lead organizations in diverse industries. Ten percent of chief executives earn more than $208,000. The median annual wage is $181,210.
Management Analyst: These business professionals develop strategies to optimize an organization’s efficiency and profitability. The median annual wage for management analysts was $81,330 in May 2016, with the top 10 percent earning more than $149,720. Management analysts may receive year-end bonuses in addition to the base salary.
Information Technology (IT) Director: These tech-savvy individuals manage the computer-related operations of an organization, such as with improving data security. IT directors earn a median wage of $135,800, with salaries that exceed $208,000 at the high end.
Financial Manager: These individuals keep the financial activities of an organization on track, such as with investment activities. Financial managers earn a median annual wage of $121,750, and up to $208,000 at the top end.
From personal growth to career changes, the reasons for pursuing an MBA in Management may vary from one individual to the next. In any case, it is well-established that this degree can lead to in-demand careers with higher than average salaries.
With an online program such as the MBA in Management at Fitchburg State University, students can continue working while gaining the essential skills and knowledge they need to pursue these high-level management opportunities across a broad spectrum of industries. And as the GMAC study points out, online MBA alumni can recoup graduate school expenses in less than three years.
Learn more about the Fitchburg State online MBA in Management program.