MBA in Management: Salary and Career Facts

Find out about the types of jobs you could pursue with a MBA. Read on to learn more about career options along with salary and job outlook information. Schools offering Business Management degrees can also be found in these popular choices.

What Does a Manager with an MBA Do?

A Master of Business Administration (MBA) is a highly valued degree. Managers with MBAs often work with upper executive officers to run various operations in plants, factories, departments, corporations, and health facilities. Essentially, they oversee the day-to-day grind of running a company. A manager's tasks can include overseeing the company's financial and accounting divisions, coordinating with the human resources department, and supervising a marketing campaign.

Below is a table outlining job facts for managers in three different industries including: company administration, healthcare administration, technology or computer services.

Company Administration Healthcare Administration Technology or Computer Services Administration
Degree Required Bachelor's or Master's Bachelor's or Master's Bachelor's or Master's
Key Skills Communication, problem-solving, decision-making and accounting High-tension decision-making, working with patients and human resources, understanding partnerships and working with finances Decision-making, product management, marketing, financial reporting and knowing about technology innovation
Job Growth (2014-2024)* 8% for administrative services managers 17% for medical and health services managers 8% for network and computer systems administrators
Median Salary (2015)* $86,110 for administrative services managers $94,500 for medical and health services managers $77,810 for network and computer systems administrators

Source: *U.S. Bureau of Labor Statistics

What Kind of MBA Programs in Management Are Available?

If you are interested in earning your MBA in management, you have a wide variety of concentrations to choose from. If you choose to earn a degree from a technology college, your focus of study will be management in an ever-changing technology environment. Students learn about decision-making, product management, marketing, financial reporting and technology innovation.

A healthcare concentration opens up a wealth of knowledge from health facilities across the country. Students learn how to manage hospitals and clinics, make high-tension decisions, work with patients and human resources, understand partnerships and work with finances.

For those of you who want to focus on general management, you'll learn skills in communication, problem-solving, decision-making and accounting. You'll develop an understanding of ethical and legal issues, microeconomics, statistics, human resources and leadership practices.

What Type of Salary Can I Expect to Make?

The salary you'll make with an MBA can vary depending on the industry you choose to work in. According to U.S. Bureau of Labor Statistics (BLS), the median salary for administrative services managers, including those in company administration was $86,110 in 2015 ( Medical and health services managers earned $94,500, while network and computer systems administrators earned a median salary of $77,810 that same year.

What Is the Career Outlook?

According to the BLS, employment in administrative services management was expected to increase by 8% between 2014 and 2024. Competition for high-end management positions would be tight during this time period. There would be a higher growth rate of 17% for medical and health services managers, due in part to an overall growth in this industry. Network and computer system administrators would have an average growth rate of 8% for management positions.

What Are Some Related Alternative Careers?

Since management positions encompass so many industries, your job options are quite varied. Possible management positions include operations manager, plant manager, facilities manager, production manager, health services manager or human resources manager. With less than a master's degree you could work in related fields such as purchasing, cost estimation, and real estate. You could work in other health fields as social and community resource managers. In the related computer arena you could work in computer and information systems, network administration, or computer programming. All of these professions require specialized training/education and certification in some instances.

To continue researching, browse degree options below for course curriculum, prerequisites and financial aid information. Or, learn more about the subject by reading the related articles below:

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