MBA Degree Salary + Best Things You Can Do!

SPONSORED

Featured Schools
Southern New Hampshire University SNHU: Online MBA & International MBA Degree Programs.

Earning an MBA is an excellent career move as it is said to be one of the most respected business degrees in the world, leading to a variety of employment opportunities. So much so, in fact, that many MBA programs now offer specializations, so people can target their skills and knowledge in a particular direction.

According the US Bureau of Labor Statistics (BLS), the number of jobs for top executives is expected to grow by 6% from 2014 to 2024. Below are just some of the positions you can take on with your degree.

#1 Senior Marketing Director

Senior marketing directors have many responsibilities within the organization, particularly with regards to increasing the sales of products or services. This means that they have to set the appropriate prices, advertise the product or service, and ensure people understand how these products or services can be of value to them. Furthermore, they create a strategic marketing plan and ensure that it is properly implemented across departments. They set advertisements through broadcast, print, and the television, which have to be carefully coordinated with the appropriate departments. They must also study market conditions so that they can adjust their marketing efforts in line with new trends. A senior marketing director sets budgets for the different marketing activities, delegating various tasks to make sure the organization goals are being met efficiently and within budget. Lastly, they ensure that progress is made and monitored and report on this to other senior executives.

Common tasks for a senior marketing manager are:

  • To provide content and support to other departments
  • To develop strategies that help increase target reach
  • To hold responsibility for researching and analyzing information from consumers
  • To set goals for advertising and promotions, which channels to use, and to measure effectiveness
  • To manage marketing professionals in the organization

According to a Payscale.com, the median annual salary of a senior marketing director is $135,525.

#2 Financial Analyst

Financial analysts examine data, identify metrics, and create forecasts and models, while updating existing financial analysis work. They also research causes of discrepancies by analyzing data and to ensure processes are updated accordingly. They also present all their findings to others by translating data into reports and presentations, creating recommendations based on the data. Lastly, they hold responsibility for audits and make recommendations following completion.

According to Workable.com, the average annual salary for HR managers is $80,663.

#3 Human Resources Manager

HR managers head the human resources department and report to directors above them. They ensure strategies are properly implemented and organize various daily operations. They also conduct performance evaluations and resolve conflicts, develop job descriptions and interview questions, and ensure the right talent is attracted and retained.

According to Workable.com, the average annual salary for HR managers is $80,663.

#4 Chief Executive Officer (CEO)

Chief executive officers are the ultimate responsible person in an organization, overseeing every department. They are leaders who are not afraid to make difficult decisions. Their exact tasks depend on the organization and there can be significant differences between various companies. But basically, CEOs are burdened with the responsibility for the functioning of the organization, including how well it can meet its strategic goals, be compliant with relevant laws and regulations, meet its budgets, and so on. They delegate much of their work to senior executives. They need to approve strategic plans and goals, setting the overall direction of the company. Additionally, they must ensure that all employees make decisions based on the strategic plans and have the ability to perform accordingly. The role of CEO is very well-compensated, but this is also because it is a job with massive responsibilities and long working hours.

Common tasks for a CEO are:

  • To set the ultimate initiatives and goals of the organization as a whole
  • To develop positive relationships with business leaders, external stakeholders, employees, and more
  • To hold responsibility for the overall strategic planning of their business, including its fiscal operations

Payscale.com has reported that the median annual earnings of a CFO is $129,110.

#5 Chief Financial Officer

Becoming a chief financial officer (CFO) is the ultimate goal for many MBA degree holders. This role means providing focus and leadership on every financial aspect of an organization, ensuring that all departments can run efficiently and are fully compliant with relevant company policies, laws, and regulations. Ultimately, it is the responsibility of the CFO to make sure the company develops a positive image by delivering high quality products and/or services, while at the same time saving as much money as possible.

Key tasks and responsibilities of a CFO are:

  • To create internal control procedures, guidelines, policies, and strategies for various activities. These include accounting, credit and cash management, and budget administration.
  • To direct the preparation of the necessary business activity reports, financial statements, annual budgets, financial position forecasts, and any reports that regulatory agencies request
  • To lead and coordinate the business planning, administrative, budgeting, and accounting departments and strategies of the company

Payscale.com has reported that the median annual earnings of a CFO is $129,110.

#6 Brand Marketing Manager

Brand marketing managers develop, implement, monitor, and review marketing initiatives, branding plans, and any other effort that aims to promote the company’s short and long term growth. Generally, they develop strategic plans to create a positive brand identity, to monitor the activities of the competition, to work together with product managers and developers, and to conduct market research. Furthermore, they manage marketing sales and communications, create brand strategies, speak to stakeholders and consumers, hold responsibility for social media activity, and work with other teams and departments to develop new designs, packaging, and marketing efforts. Furthermore, they hold budgetary responsibility for their department and manage their teams.

Common daily tasks of a brand marketing manager are:

  • To ensure all brand messages are communicated properly and consistently to sponsors, consumers, and partners
  • To research the competition and consumer behavior, using the results to recommend new strategies and campaigns that create a positive brand image
  • To drive every aspect of the overall marketing strategy, thereby solidifying an organization’s positive brand image

Payscale.com has reported that the median annual earnings of a CFO is $129,110.

#7 Corporate Financial Controller

Corporate controllers are responsible for the accounting and financial functions of the organization. These include budgeting, accounts receivable and payable, and billing. They receive reports from various other financial and accounting departments on overall performance. Furthermore, they make sure that all rules and regulations around accounting and financial reporting are being adhered to by collecting data, processing payroll, creating reports, budgets, statements, and forecasts, and more. Sometimes, they also have to file quarterly and yearly reports with the Securities and Exchange Commission (SEC). Their role is quite similar to that of the CFO, particularly in smaller organizations. However, in larger organizations, the financial controller reports to the CFO, who then reports to the board.

Some of the daily tasks of a corporate financial controller are:

  • To ensure that the accounting department operates properly and to coordinate and develop plans to achieve this
  • To make sure all financial policies are conformed with and to report on this as and when required
  • To be responsible for billings and budget preparation
  • To manage asset management, investment, cash, and other accounting activities

Payscale.com has reported that the median annual earnings of a CFO is $129,110.

Summary

There is no doubt that holding an MBA degree is a fantastic career move. It opens many doors for you and you get to enjoy very lucrative salaries. Best of all, you can use your degree to work across any and all sectors: private, public, or nonprofit.

Additional Resources

References

Sady Brown
Written by Sady Brown
Sady Brown is Editorial Strategist for Nogre.com