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7 Amazing and Highest Paying Jobs for MBA Graduates

 

A Masters in Business Administration, or an MBA, is advanced that provides you with a comprehensive knowledge of the skills relevant in the work environment you hope to join. Many students are of the belief that careers for MBA graduates are limited to only the business world. This is far from the truth. In fact, job opportunities for MBA graduates extend well beyond the business world and into finance, technology, sales, engineering, and healthcare. One of the best jobs for MBA graduates can even involve starting your own business and becoming an entrepreneur.

Why an MBA degree?

As mentioned above, an MBA degree is an all-round development module, built to teach you valuable and key industry insights which you can use in your day-to-day work activities. However, the most appealing reason why people pursue an MBA degree after their bachelor’s is due to the career for MBA graduates. A degree from a well-reputed MBA school can boost up your career many folds. An MBA degree also helps already working people, giving them a chance to fast track their career growth.

An MBA degree can be truly rewarding and thus if one wants to excel in this highly competitive world, where every year more and more skilled workers are entering the workforce, students who have just passed from their undergraduate studies, or people who are already working in lower positions, must seek an MBA degree to benefit their growth and knowledge.

Best Jobs for MBA graduates

While the completion of this degree opens up numerous job opportunities for MBA graduates, I have tried to compile a list of the top 7 best jobs for MBA graduates that are the most rewarding, in terms of money and promotions, and those that are among the most sought careers for MBA graduates.

  1. Investment Banker:

Though not one of the popular careers for MBA graduates in the past, financial investment banking is soaring through the roof and is on track to become one of the best jobs for MBA graduates, provided they put in their time.

The basic job description of an investment banker is managing money for different companies, people, agencies, or even the government. However, as you rise through the corporate ladder through promotions, you might be in charge of overseeing big company mergers, acquisitions and even drafting major deals between companies involving large transactions.

Though the initial years may seem tough and might have you work for 70-80 hours in a week, the end result is extremely rewarding, both in terms of finances and personal time. Investment bankers are known to be money men, and when you reach higher status within the company, you might even get opportunities to choose your own projects at your own times.

How to secure this job opportunity after MBA?

There are many factors the company takes into account while deciding potential hires:

  • Right of the bat, an MBA degree from a well-reputed college is a big factor in hiring decision
  • Deep knowledge on the market
  • A good understanding of the financial workings of companies and industries
  • A resume with good work experience greatly boosts the chances to secure this job
  • The interview process is the most weighted of the hiring process. If you succeed in impressing the interviewers with your skills and your personality, they will surely take you into the company.

Salary Options

Though salaries for investment bankers vary immensely from firm to firm, an average salary during the initial years with an investment banking firm may range anywhere from 8 to 10 lakhs per year. But, as you reach higher positions, the salary can go up to 50-80 lakhs per year.

  1. Marketing:

Job opportunities for MBA graduates always point them in the direction of marketing. And in this highly commoditized world, as brands are popping up every day, with new product offerings, marketing is one of the best jobs for MBA graduates.

A marketing manager is expected to do a variety of tasks, and that is wherein the beauty lies of these career opportunities for MBA graduates. Being a marketing manager, you will be required to oversee marketing materials for companies, ranging from advertisements on TVs, billboards, content creation, brochures, etc. Apart from that, you might be involved in deciding budgets for advertising campaigns, recruit/select creative teams for projects, manage big teams involving the clients at all times, and even create reports on market trends and insights.

A marketing manager is one of the best jobs for MBA graduates who like to express themselves creatively since a majority of their job activities revolve around creative memorable campaigns for big companies. Brand building is one of the key tools that marketing companies offer companies and marketing managers to oversee these efforts.

How to secure this job opportunity after MBA?

There are many factors the company takes into account while deciding potential hires:

  • A background in business administration, usually involving a BBA degree in undergraduate
  • However, even with just an MBA, graduates can get good placements in marketing firms
  • Acute knowledge of the industry and their practices
  • An understanding of competitive business information
  • An eye for understanding market trends and insights, which help firms create effective campaigns.

Salary options

Marketing is the biggest division in a company, in terms of budget allocation and financial resources. Thus, it is no surprise, that they are one of the better-paid employees within an organization. An average salary of a marketing manager can range from 10-15 lakhs per year, with big bonuses that can push that number up to 20 lakhs.

 

Become a Subject Matter Expert

 

  1. Technology Manager (IT)

Information Technology is booming in the digital age. More and more companies are understanding the strict need of digitising their business practices and thus, one of the great job opportunities for MBA graduates arises in this field.

The IT manager is responsible for overseeing the technology-related efforts of the business, from managing information systems of the organization to managing digital security and investing in tools that streamline the operations of the company.

The IT manager role is designed for people who have a background and an interest in computer science. Though just with a bachelor’s degree in computer science, a student can possibly enter the IT department, to become the manager, one must have a sense of the business angle to the workings of the department. In fact, businesses are increasingly mandating an MBA degree from computer science majors who wish to apply for the role of IT managers.

How to secure this job opportunity after MBA?

There are many factors the company takes into account while deciding potential hires:

  • A background in computer science, mainly with a bachelor’s degree in IT
  • An understanding of the business aspects that can be greatly improved and made efficient with technology
  • Knowledge of the technology used in business operations
  • Budgeting experience of software and hardware required for businesses
  • Experience in the IT field

Salary Options

IT managers are compensated greatly for their contribution to make the operations of the company streamlined by getting the business online. Thus, the average salary of IT managers range from 14 lakhs per year and can boost up to 30-35 lakhs.

  1. Business Development Manager

Business Development Manager

Businesses in the 21st century understand that competitors are plenty, and consumers always have another brand to buy their products from. Therefore, more and more businesses are investing to redesign their operations in order to stay afloat in this competitive market.

This is where they require the expertise of a business development manager. Those students who ask themselves “what are the job opportunities after MBA”, can begin to look into this career path. Business Development managers oversee the basic functioning of operations within a company and tweak it to improve efficiency and productivity. Their main aim is to keep the company relevant in the minds of their audiences and design the strategy of the organization in that regard.

Business Development managers are not assigned to one particular office. Though they might be stationed at the headquarters, and have constant meetings with the other executives of the company, they are also expected to travel to different regional offices to oversee their goals and if they are being followed.

How to secure this job opportunity after MBA?

There are many factors the company takes into account while deciding potential hires:

  • Like other business jobs, this career also requires a background in business administration from undergraduate studies.
  • An understanding of business practices
  • An acute awareness of business strategies and business planning
  • Past experiences in the business world. Chances would be better if you were a part of the strategy department.

Salary Options

Business Development managers oversee an essential part of the organization and provide it a direction to proceed into. Therefore, they are well compensated, averaging a salary of 8 lakhs per year in the initial years, which can go up to 15 lakhs. However, working in bigger companies increases this salary greatly.

  1. Sales Manager

Sales Manager

Sales are the building blocks for any business. All other departments, marketing, operations, etc, will be futile to the growth of an organization if sales are not going according to the targets. Thus, businesses are increasingly looking to attract and offer the best jobs for MBA graduates who can help in the organization’s sales efforts.

A sales manager is typically responsible for managing the sales of the products the company offers. But this is an over-simplification of the task. A sales manager is expected to manage a team of salespersons who must be kept motivated at all times, and be pushed to reach and exceed sales targets and expectations, generating revenue for the company. Their expertise is also required in creating strategies for product sales, including where and when to sell particular products.

How to secure this job opportunity after MBA?

There are many factors the company takes into account while deciding potential hires:

  • A background in business administration, though not necessary, even engineering backgrounds land up in sales positions
  • Market and industry awareness
  • Knowledge about competitive marketing
  • An acute awareness of consumer behavior
  • An approachable and friendly personality

Salary Options

A sales manager is expected to generate revenues for the company. For this task, they are offered an average salary of 8 lakhs per year, which can see the growth of up to 15-20 lakhs per year.

  1. Healthcare Manager

It is not strange that MBA graduates often enter into managerial positions within organizations. It is due to the fact that during their studies, they are trained about business practices and how to manage them effectively.

Healthcare is also a type of business. Organizations and Pharma companies at the basic level are creating a product or offering certain types of services, and thus their practices are best managed by a healthcare manager. These posts are often given to people with an MBA degree who are skilled to manage the healthcare facilities and oversee the operations of the company, including managing different healthcare physicians and nurses.

Increasingly, more and more hospitals, nursing facilities, clinics are out to hire healthcare managers who can guide the organization to maximize efficiency and maintain financial goals while serving their goal of providing healthcare.

How to secure this job opportunity after MBA?

There are many factors the company takes into account while deciding potential hires:

  • A background in medicine helps in understanding the workings of the healthcare facility
  • Excellent critical thinking
  • Good communication skills
  • Awareness of the business aspects of the healthcare industry

Salary Options

The average salaries of healthcare managers can range from 5-15 lakhs per year. However, with bigger hospitals, that estimate is likely to be increased.

  1. Management Consultant

Last, but not least, a management consultant is generally a freelance position that many MBA graduates take up after completing their studies. It opens up a wide variety of job opportunities for MBA students as they can build contacts, and help businesses make decisions based on market trends and insights.

A management consultant is mainly hired to help a business create a blueprint of the plans they can undertake to maximize profits and efficiently, reach new markets or expand their consumers. However, in this digital age, more and more businesses are hiring management consultants to help organizations ease their transformation online.

Salary Options:

Though the salaries of management consultants depend on a variety of factors, including business contacts, a well-settled management consultant can expect to earn anything between 20-30 lakhs per year.

Conclusion

As you can see, there are many job opportunities for MBA graduates. Here, I have just listed 7 of the top careers for MBA graduates however, the workforce is increasingly relying on hiring experienced professionals, and an MBA degree is your path to that.

 

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