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As per AACSB (the Association to Advance Collegiate Schools of Business), around 2,50,389 students were studying for an MBA worldwide during the 2020-2021 academic year. Are you too planning to take your career to new heights with an MBA? With so many specialisation options available, choosing the right one can be confusing. This guide provides detailed insights into the highest-paying MBA specialisation choices that you should certainly consider.
Why Do You Need A Specialised MBA?
Some highest-paying MBA programs usually require students to opt for a specialised degree. This is because employers generally look for candidates with a specialisation in a given field. While a general MBA can provide good job prospects, a specialised degree often provides higher salaries.
How To Choose Your MBA Specialisation?
An MBA provides a range of different specialisation areas. There are some important factors to consider when choosing your MBA specialisation along with your strengths, weaknesses and career goals. This includes:
- Pay range
- Scope and need
- Increase in the number of jobs
- Opportunities for internships and placement selections.
- Research centres and additional infrastructure
- Cost of attending the programme and return on investment
Top 10 Best Paying MBA Specialisations
As an aspiring MBA student, it is essential to completely understand all the relevant details about each of these programmes. It is crucial to thoroughly understand the course details, including core subjects, tuition fees, and average salaries. Let us learn in detail the highest-paying popular MBA specialisations.
Business Analytics
The MBA in Business Analytics is renowned globally as one of the highest-paying MBA specialisations. It involves solving business challenges through data analysis, statistical modelling, and quantitative techniques.
This extensive programme provides students with skillsets across business intelligence, data analytics, programming, quantitative methods, financial management, managerial economics, and operations management.
| Job Profile | Average Annual Salary |
| Business Systems Analyst | $60,000 – $65,000 |
| Business Strategist Analyst | $50,000 – $96,000 |
| Healthcare Business Analyst | $80,000 – $90,000 |
| Business & Data Analyst | $80,000 – $90,000 |
| Business Application Analyst | $70,000 – $80,000 |
Some of the best universities for an MBA in Business Analytics include:
- Massachusetts Institute of Technology
- Imperial College London
- Alliance Manchester Business School
- University of Alberta
- University of Melbourne
Information Technology
MBA in Information Technology today is one of the most sought-after specialisations. This is because organisations are increasingly looking for candidates with expertise in IT software management, project management and telecommunications.
| Job Profile | Average Annual Salary |
| Solutions Architect Senior Manager | $80,000 – $85,000 |
| IT Senior Associate | $70,000 – $75,000 |
| Information Technology Manager | $85,000 – $990,000 |
| IT Services Manager | $70,000 – $75,000 |
| Senior IT Business Analyst | $65,000 – $70,000 |
Some of the best universities that offer an MBA in IT include:
- Carnegie Mellon University
- Massachusetts Institute of Technology
- University of Glasgow
- University of Toronto
- University of New South Wales (UNSW), Sydney
Finance
With the rising demand for finance analysts, an MBA in Finance is one of the most demanding courses globally. It equips students with the knowledge required in financial risk management, corporate finance, corporate investment management and financial accounting.
| Job Profile | Average Annual Salary |
| Financial Management Associate | $85,000 – $90,000 |
| Manager- Finance Integration & Separation | $85,000 – $90,000 |
| Finance Consulting Manager | $80,000 – $85,000 |
| Leveraged Finance Associate | $75,000 – $80,000 |
| Finance Analyst | $60,000 – $65,000 |
Some leading universities that offer diverse programmes for MBA in Finance include:
- University of Pennsylvania
- University of Chicago
- London Business School
- Imperial College London
- Frankfurt School of Finance & Management
Marketing
Marketing is one of the most sought-after professions and the demand for talent in this field is more than ever before. it is amongst the highest paying MBA specialisation. Thus, opting for an MBA in Marketing will take your career to the next level if you are keen on consumer trends, strategies and sales. The focus areas for this course majorly remains on advertising, e-marketing and market trends.
| Job Profile | Annual Salary |
| P&L Controller | $80,000 – $85,000 |
| Client Success Specialist | $70,000 – $80,000 |
| Business Intelligence Manager | $70,000 – $75,000 |
| Field Marketing Manager | $60,000 – $70,000 |
| Equity Portfolio Specialist | $50,000 – $60,000 |
Here are some of the best universities that offer this programme:
- Northwestern University (Kellogg)
- University of Pennsylvania (Wharton)
- Oxford Business School
- EU Business School
- University of Melbourne
Economics
Economics is one of the highest paying MBA specialisation that is a relatively new and increasingly popular field of study. This programme emphasises areas such as Microeconomic Analysis, Statistical Methods, Macroeconomic Analysis, Public Finance and Taxation and much more.
| Job Profile | Average Annual Salary |
| Healthcare Economists & Trend Analyst | $85,000 – $90,000 |
| Research Economist | $75,000 – $90,000 |
| Economic Analyst | $70,000 – $80,000 |
| Policy Analyst | $65,000 – $75,000 |
| Economic Development Analyst | $65,000 – $70,000 |
Some leading universities that offer an MBA in Economics programme include:
- University of Oxford
- University of Cambridge
- Stanford University
- University of Munich
- University of Bonn
Entrepreneurship
For those planning to begin their venture, an MBA in Entrepreneurship is a great choice. Organisations too prefer candidates bringing forth leadership abilities and thus, this is one of the highest-paying MBA specialisations. The focus areas for this course majorly include corporate strategy, investment analysis, market trends, business development and much more.
| Job Title | Average Annual Salary |
| Management Consultant | $55,000 – $70,000 |
| Senior Product Manager | $85,000 – $105,000 |
| Business Intelligence Manager | $60,000 – $75,000 |
| Client Success Specialist | $50,000 – $80,000 |
The best universities for an MBA in Entrepreneurship include:
- Richmond Business School
- Rice University
- University of Texas-Austin
Data Analytics
With the ever-increasing demand for data-savvy professionals across industries, an MBA in Data Analytics is highly promising. Graduates can pursue roles such as data analysts, business intelligence specialists, data scientists, or strategic consultants, enabling them to shape the data-driven strategies that drive organisational success in the digital era.
| Job Title | Average Annual Salary |
| Research Analyst | $80,000 |
| Data Analyst | $85,000 – $105,000 |
| Operations Research Analyst | $85,000 – $105,000 |
| Business & Data Analyst | $40,000 – $90,000 |
Some leading universities for an MBA in Data Analytics are listed below:
- Massachusetts Institute of Technology (Sloan)
- Carnegie Mellon University
- University of Pennsylvania (Wharton)
- New York University
International Business
As MNCs continue to expand their global footprint, the demand for professionals with expertise in International Business is increasing. This specialisation opens golden doors of opportunities through rewarding career paths, including roles as international business consultants, global operations managers and many more.
| Job Title | Average Annual Salary |
| Research Analyst | $80,000 |
| Data Analyst | $85,000 – $105,000 |
| Risk Manager | $95,000 – $105,000 |
| Director of Global Business | $100,000 |
| Management Analyst | $80,000 – 90,000 |
Some of the best universities for an MBA in International Business include:
- The University of Melbourne
- University of Manchester
- Imperial College London
- University of Vaasa
Investment Management
With the increasing demand for financial advisors and investment professionals, an MBA in Investment Management is one of the highest-paying MBA specialisations. Popular roles offered after the completion of this programme include wealth advisors, financial analysts, or risk management specialists at investment firms, banks, and financial institutions.
| Job Title | Average Annual Salary |
| Senior Accountant | $80,000 |
| Investment Analyst | $80,000 |
| Risk Manager | $95,000 – $105,000 |
| Portfolio Manager | $85,000 |
| Financial Manager | $100,000 |
Some of the best universities for an MBA in Investment Management are:
- NYU Stern School of Business, New York University
- London Business School (LBS)
- Cornell University
- Columbia University
Innovation Management
The demand for professionals skilled in innovation management is more than ever due to the evolving business world and the need for revolution. Graduates can opt for roles such as innovation consultants, chief innovation officers, product managers, or entrepreneurs leading their startups.
| Job Title | Average Annual Salary |
| Management Consultant | $55,000 – $70,000 |
| Senior Product Manager | $85,000 – $105,000 |
| Senior Business Consultant | $80,000 |
| Business Intelligence Manager | $60,000 – $75,000 |
Some leading universities for an MBA in Innovation Management include:
- Stanford Graduate School of Business
- MIT Sloan School of Management
- Harvard Business School
- The Wharton School
Thus, these were the top 10 highest paying MBA specialisation that genuinely provide a promising career path. You can opt for the course that aligns with your skill sets, interests and aspirations.
FAQs
What is the advantage of doing an MBA?
Pursuing an MBA will help you gain a specialised degree and increase your earning potential as a professional.
How do I choose the right MBA specialisation?
Evaluate the scope, the remuneration being offered and the job roles available.
What is the highest paying MBA specialisation?
The best-paying MBA specialisations include Business Analytics, Information Technology, Finance, Economics, and Investment Management.
Is work experience important before doing an MBA?
It is not mandatory to have prior work experience. However, if you do have relevant work experience in the field, there are higher chances of better remuneration and roles being offered.
What are the job roles provided after doing an MBA in Finance?
The popular job roles include Finance Consulting Manager, Finance Analyst, Investment Management, and many others.
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