Expert Details Top-Paying Careers for MBA Grads

Career opportunities abound for individuals who have earned MBA (Master of Business Administration) degrees. The possibility exists that these graduates may land some of the top-paying jobs in America. Well-renown companies are eager to add these prospective workers to their payrolls in order to increase production. Employees reap the benefit of earning hefty paychecks. Kofi Kankam, co-founder and director of Admit Advantage, has an undergraduate degree from Harvard and an MBA from Wharton. He shares his expertise on some of the top-paying careers for MBA graduates

Financials

Roughly 50% of Harvard Business School and Wharton MBA graduates are still entering the financial arena, according to Kankam. Although salary trajectory and starting salaries in these positions have decreased, financial service firms still covet MBAs. The most prominent roles in the financial sector follow.

Investment Banking
MBAs join these firms as associates. They conduct analytics and present strategies for companies to raise capital, optimize capital structure, and purchase other companies.

Sales and Trading
A career in trading encompasses the development and trading of complex securities using funds provided from proprietary accounts or corporate clients. A career in sales involves the marketing of complex financial products and securities to financial service firms.

Investment Management
Investment managers handle the administration of portfolios of investments for high net-worth individuals.

Private Equity
Work in this sector includes the evaluation and purchase of securities and companies not available in the "public" markets.

Starting Salaries
Starting packages are similar for the aforementioned MBA financial careers-$150,000 to $200,000. However, long-term earning potential of investment banking and private equity is significantly greater. Attrition rates are considerably higher in private equity and investment banking. First-year associates should expect to work 80 to 100 hours per week. Sales and trading and investment management positions are much more lifestyle-friendly.

Management Consulting

Kankam says that management consulting (20-30% of graduates) remains the second most common career selection for graduates of top MBA programs. Starting packages are in the $120,000 to $180,000 range. There are good opportunities for MBAs to excel quickly, but there is also a more gradual salary ramp and a lower overall salary ceiling. A top-notch consultant at a first-rate firm could make up to $300,000 in his third year; whereas, a top-flight banker could make $500,000 or more. There is a very high rate of travel with these jobs, but the work hours are more tolerable than banking-60 to 80 hours per week, on average.

Technology and Emerging Sectors

Many MBAs are still seeking jobs in technology and emerging sectors, such as green energy. These positions will pay up to $100,000 per year, yet most offer the substantial potential upside of stock options.

Non-Profit and Public Sector

Another growth area for MBAs is in the non-profit and public sector. An increasing number of non-profits are willing to pay near six-figure salaries. Moreover, the non-profit and public sector has grown considerably in recent years.

Interview Source:
Kofi Kankam;Co-founder and Director; Admit Advantage

Experts Share Tips for the MBA Admissions Process

Job Opportunities Abound with a Marketing MBA