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Klaus Vedfelt/ Riser/ Getty Images Updated on December 05, 2017 What Is an MBA Degree?A Masters in Business Administration, or an MBA as it is more commonly known, is an advanced business degree that can be earned by students who have already earned a bachelor's degree in business or another field. The MBA degree is one of the most prestigious and sought after degrees in the world. Earning an MBA can lead to a higher salary, a position in management, and marketability in an ever-evolving job market. Increased Earnings With an MBAMany people enroll in a Masters in Business Administration program with the hope of earning more money after graduation. Although there is no guarantee that you will make more money, an MBA salary is likely higher. However, the exact amount you earn is very dependent on the job you do and the business school you graduate from. A recent study of MBA salaries from BusinessWeek found that the median base salary for MBA grads is $105,000. Harvard Business School graduates earn an average starting salary of $134,000 while graduates of second-tier schools, such as Arizona State (Carey) or Illinois-Urbana Champaign, earn an average starting salary of $72,000. Overall, cash compensation for MBAs is significant regardless of the school from which it is received. The BusinessWeek study stated that median cash compensation over a 20-year period, for all the schools in the study, was $2.5 million. Read more about how much you can earn with an MBA. Popular Job Options for MBA GraduatesAfter earning a Masters in Business Administration, most grads find work in the business field. They may accept jobs with large corporations, but just as often take jobs with small or mid-size companies and non-profit organizations. Other career options include consulting positions or entrepreneurship. Popular Job TitlesPopular job titles for MBAs include but are not limited to:
Working in ManagementMBA degrees frequently lead to upper management positions. A new grad may not start out in such a position, but certainly has the opportunity to move up the career ladder faster than non-MBA counterparts. Companies That Hire MBAsCompanies in every industry around the world seek out business and management professionals with an MBA education. Every business, from tiny start-ups to large Fortune 500 companies, needs someone with experience and the necessary education to support common business processes like accounting, finance, human resources, marketing, public relations, sales, and management. To learn more about where you can work after earning a Masters in Business Administration, check out this list of the 100 top MBA employers. Written by Ben Taylor A Masters in Business Management is one of the most popular postgraduate qualifications, taken by people at various stages in their careers. Recent graduates may study a Masters in Business Management as a way of boosting their employability, while established workers will often return to university as a form of professional development or to specialise in a particular area of business. This page will give you an idea of the kinds of skills you’ll gain if you study a Masters in Business Management, as well as typical jobs and average salaries. We’ve also covered Masters in Business Administration (MBAs), a particularly well-known postgraduate qualification in this field. What skills will I gain with a Masters in Business Management?Studying a Masters in Business Management equips you with a whole set of transferrable skills to allow you to thrive in the professional world. During a Masters in Business, you’re likely to study modules on commercial areas such as:
All of these module examples heavily relate to different job roles many businesses employ. Your studies will culminate in a lengthy dissertation, taking the form of an independent research project that draws on what you’ve learnt. Some Masters programmes also involve a placement within an external organisation, in which case the dissertation may relate to your experiences with that company and its commercial challenges. Alternatively, if you’re further along in your career you may want to study an MBA, which focuses more on developing your knowledge of strategy and leadership attributes. These kinds of programme are usually aimed at people with at least five years of business experience. What jobs can I get with a Masters in Business Management?A Masters in Business Management is one of the most versatile degrees in terms of career pathways. The skills you gain during your studies will put you in a good position to apply for management jobs in many different sectors. Alternatively, you might even feel inspired to begin your own company, putting your commercial knowledge into practice straight away. Some of the main job sectors you could enter with a Masters in Business Management include:
Depending on your specialism and background, a Business Masters could allow you to work as a:
If you studied a Masters in Business or an MBA as an experienced professional, then your new qualification could provide you with the skills to progress within your current (or a new) organisation to one of the most senior management job roles, such as director, chief executive officer (CEO), chief financial officer or chief operating officer. How employable are Business Management Masters graduates?Official government data suggests that 83.5% of UK Business Management postgraduates from English universities are in full-time work or further study five years after finishing their Masters. 83.1% of MBA graduates are in the same position. What salary could I earn with a Masters in Business Management?Average earnings are another consideration to take into account when choosing a Masters. We’ve taken a closer look at HMRC data for Business Management graduates to see potential earnings for people who have taken these qualifications:
This means that, on average, Masters graduates in Business Management earn £12,400 per year more than Bachelors graduates – around 43% higher. MBA graduates earned an average of £62,000 per year, five years after finishing their programme. In fact, the MBA was the highest paid qualification according to the HMRC statistics. Of course, there are lots of reasons for this, not least the fact that people studying an MBA are more likely to have several years of business experience before beginning the qualification. Data sourcesThis page uses official statistics for postgraduate salaries in the UK, based on information from HMRC that measures the earnings of UK postgraduates from English universities in the 2018-19 tax year. You should be aware that historical information doesn’t guarantee future career prospects and earnings. Many other factors also play a role in determining how well someone does with a Masters. Search for a Masters in BusinessReady to begin your search for a programme? Browse the Business Masters listed on our website.  MBA Funding – A Guide What kind of funding can you get to help pay for an MBA? Our guide explains student loans, employer support and other options available for Master of Business Administration students. Read more Last updated: 21 May 2021
What do you do with a masters in business administration?While job titles vary from company to company, here are some common examples of positions MBA graduates fill, from entry- to executive level:. Accounting manager.. Finance manager.. Financial analyst.. Budget analyst.. Data analyst.. Investment banker.. Investment fund manager.. Marketing manager.. Which MBA has highest salary?According to the BLS, some of the highest-paying management occupations related to MBA concentrations include computer and information systems management, financial management, marketing management, and human resources management.
Is MBA a good career option?An MBA can enhance your marketability as a professional and increase the quality and quantity of job opportunities. Over 98% of Wharton MBA graduates are extended full-time job offers. An MBA also helps you build business leadership skills, as well as a professional network.
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Jobs you can get with a masters in business administration
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