In today’s fiercely competitive world, further education is necessary to get well-paying professions, particularly in the business sector. One such element that has a long-term impact on your life and career is selecting the appropriate MBA specialization. Graduates who specialize gain specialized knowledge pertaining to their desired careers. Choosing the highest paying MBA specialization is a smart move if you’re aiming for a high-paying job in the field of business management.
The most often asked question among students—which MBA specialization is best paid or which MBA program offers the greatest salary—was addressed in this blog. We also provide information on job development and career opportunities in the key business and management areas here.
Which MBA Specialization offers the Highest Salaries?
There have been numerous rumors on which MBA having the best pay and prospects for the future. The specialization you choose has a significant role in defining your value in the job market, together with your knowledge and skills.
Here are the top 5 MBA specializations in terms of salary:
• Business Analytics
• Information Technology
• Finance
• Marketing
• Economics
Business Analytics
The highest earning MBA specialization at the moment is business analytics. A business analytics MBA focuses on the methodical study of data to arrive at reliable conclusions and choices. The information presented here is derived from statistical sources or commercial activities to assess effectiveness, cost, and outcomes. Choosing to specialize will improve your analytical, technical, and leadership skills.
Scope: From 2018 to 2028, the Bureau of Labor Statistics (BLS) projects that demand for business analytics skills will increase by 10.9 percent, exceeding the 5.2 percent national average for all jobs.
Popular jobs in this category:
• Business Systems Analyst – 60,000 – 70,000 or 60,00,000 INR
• Business Strategist Analyst – 50,000 – 96,000 or 60,00,000 INR
• Business Application Analyst – 70,000 – 100,000 or 80,00,000 INR
• Business & Data Analyst – 40,000 – 90,000 or 80,00,000 INR
• Healthcare Business Analyst – 80,000 – 100,000 or 80,00,000 INR
Information Technology
The second-highest paying MBA specialty worldwide is information technology. You can manage IT systems and human resources with the skills you gain with an IT specialization. With a primary focus on subjects like information security, IT project management, telecommunications, etc., it integrates the conventional business expertise of an MBA. An excellent way to stand out in the tech-savvy workplace of today is to get an MBA in information technology.
The Bureau of Labor Statistics (BLS) estimates that the number of employment for MBAs in Information Technology will increase by around 667,600 between 2020 and 2030, or 13%.
Popular Jobs in this Category:
• Information Technology Manager – 45,000 – 95,000 or 60,00,000 INR
• IT Services Manager – 50,000 – 90,000 or 60,00,000 INR
• Senior IT Business Analyst – 30,000 – 70,000 or 50,00,000 INR
• Solutions Architect Senior Manager – 80,000 – 95,000 or 75,00,000 INR
• IT Senior Associate – 40,000 – 75,000 or 60,00,000 INR
Finance
Finance is another well-liked and well-paid MBA specialty. An MBA with a finance specialization can lead to satisfying professions in important economic sectors like insurance, taxation, international finance, asset management, and tax planning, among others. You could work for prominent organizations as financial planners and advisors. Indeed, finance has a significant role in every area of economics, business, and management.
Focus: The Bureau of Labor Statistics (BLS) anticipates a substantially faster-than-average 18% job growth in the finance industry by 2030. It is anticipated that there will be about 6,900 opportunities for financial examiners over the next ten years.
Popular Jobs in this category:
• Finance Analyst – 35,000 – 65,000 or 40,00,000 INR
• Finance Consulting Manager – 55,000 – 90,000 or 70,00,000 INR
• Leveraged Finance Associate – 50,000 – 80,000 or 60,00,000 INR
• Financial Management Associate – 68,000 – 100,000 or 80,00,000 INR
• Manager- Finance Integration & Separation – 55,000 – 90,000 or 70,00,000 INR
Marketing
The goal of an MBA in Marketing is to provide business expertise by thoroughly understanding the marketing component. You will develop the ability to carefully analyze customer behavior as you study marketing and develop products that consumers are most likely to desire to buy. This top-paying MBA specialization provides in-depth expertise on how to produce, distribute, and communicate a specific value to the target market in order to make money.
Scope: According to the Bureau of Labor Statistics (BLS), marketing managers typically make $145,00 per year. From 2020 to 2030, the job outlook is predicted to expand by 10%, which is significantly quicker than average.
Popular Jobs in this category
• Equity Portfolio Specialist – 50,000 – 75,000 or 50,00,000 INR
• Business Intelligence Manager – 60,000 – 75,000 or 50,00,000 INR
• Field Marketing Manager – 50,000 – 80,000 or 60,00,000 INR
• Client Success Specialist – 50,000 – 80,000 or 60,00,000 INR
• P&L Controller – 70,000 – 85,000 or 60,00,000 INR
Economics
Economics is the next most earning MBA specialty in terms of remuneration. Evaluating economic concerns for resources, goods, and services is part of economists’ jobs, along with data collection and analysis, trend research, and market analysis. You are given the opportunity to qualify for employment as a specialist in fields including business intelligence, operations research, information sciences, econometrics, and others.
Scope: The Bureau of Labor Statistics projects that there will be, on average, 1,600 opportunities for economists during the next ten years (BLS). It anticipates a 13% increase in job growth for the economics sector between 2020 and 2030.
Popular jobs in this category:
• Economic Development Analyst – 45,000 – 70,000 or 55,00,000 INR
• Policy Analyst – 65,000 – 105,000 or 80,00,000 INR
• Research Economist – 75,000 – 100,000 or 80,00,000 INR
• Healthcare Economists & Trend Analyst – 45,000 – 90,000 or 70,00,000 INR
• Economic Analyst – 60.000 – 80,000 or 60,00,000 INR
Conclusion
Now that you know which specialization in MBA has the best salaries, you can choose a career path that fits your preferences and salary expectations. Best of luck.