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Top 10 Highest-Paying MBA Specialisations To Opt For In 2024

By UniAcco
April 24, 2024 •
highest paying mba specialisation

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 ProfileAverage 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:

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 ProfileAverage 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: 

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 ProfileAverage 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:

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 ProfileAnnual 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:

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 ProfileAverage 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:

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 TitleAverage 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: 

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 TitleAverage 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 TitleAverage 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: 

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 TitleAverage 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: 

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 TitleAverage 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:

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. 

We hope you found this blog post insightful. For more such interesting content, here are some suggestions:

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