A lucrative MBA salary is one of the perks of graduating from a top business school. But what are the highest paying MBA jobs?
The average MBA salary for Stanford MBA grads three years out of their degree is more than $253,000. Harvard MBA grads can expect around $235,000, while INSEAD MBAs earn average salaries of $202,000 three years after graduation.
An MBA provides you with a comprehensive understanding of every area of business, from marketing and accounting to strategy and finance, so you’re primed for a career across industries and roles.
You’ll find MBA graduates earning six-figure consulting salaries and landing some of the best paid jobs in technology and the highest-paying finance jobs.
But what are the highest-paying jobs for MBA graduates across industries?
Considering Your Career Options?
Download Our BusinessBecause Careers Guide
9 Highest Paying MBA Jobs
1. Management Consultant
It’s no surprise that management consultant is on this list. The role gives MBA grads huge earning potential. The Big Three consulting firms, McKinsey, Bain & Company, and the Boston Consulting Group (BCG), hire thousands of MBA grads every year.
The average MBA salary for MBB consultants starts at around $190,000, and earning potential only increases. 10 years out of an MBA, a senior partner at a firm like BCG can expect to earn between $500,000-$700,000 per year.
There are also MBA job opportunities at an array of boutique consulting firms, many of which offer MBA grads starting salaries of at least $155,000.
2. Senior Project Manager
If an MBA teaches you anything, it’s how to manage and lead people across multiple projects. Working in diverse teams on real-time consulting projects is a key part of your MBA education.
Many MBA graduates enter roles as senior project managers across industries ranging from tech to consumer goods. Starting salaries in the US sit at around $104,000, according to Glassdoor, but senior project managers working for Amazon at certain locations can earn salaries higher than $220,000.
3. Senior Product Manager
A senior product manager will manage multiple products for a company, or a single product that is highly complex, high-risk, or sensitive. To do this role successfully you’ll need to be able to line manage multiple people and tasks across departments.
The base salary for a senior product manager can be as high as $160,000 in London, UK, according to Glassdoor. That rises significantly at big tech companies such as Microsoft, that often have a lot riding on the release or success of new product lines.
The average MBA salary for a senior product manager at Oracle in the US could be as high as $253,000. That’s a base salary of around $170K, a cash bonus of $30k, and a stock bonus of nearly $50K.
The average for the same role at US tech giant Amazon is around $293,000, and at Google a whopping $332,000.
4. Finance Manager
As a finance manager you’re tasked with advising on financial strategy and helping to refine decision making processes to ensure the business is financially successful, keeping a close eye on the balance sheet.
You’ll need a wide finance knowledge to advise on investments, savings, pensions, and insurance products—an MBA provides that holistic education.
Finance is one of the top three industries MBAs enter after graduating, and many MBAs become finance managers in the industry, while some work as finance managers for companies within other sectors.
The median annual wage for a finance manager in the US is $91,470, however this varies substantially between companies.
Land a financial management role in the tech sector with Amazon or Microsoft, for example, and the average salary is $253k. However, those working within the financial sector at the likes of American Express and Bank of America, earn $186k and $177k, respectively.
5. Investment Banker
Working as an investment banker lets you put to work many of the skills you acquire on an MBA. You’ll need hard financial skills as well as strong soft skills to communicate with multiple stakeholders.
You’ll advise companies, institutions, and governments on how to achieve their financial goals and implement long and short-term financial plans. You’ll also work in teams focused specifically on transactions or market sectors.
Glassdoor indicates that the average salary for an investment banker sits at around $133,000, though this rises significantly at top banks and as you gain more experience. For example, UBS pays average salaries of around $343,000, Wells Fargo pays around $349,000, while at Goldman Sachs it’s as high as $403,000,
For MBA graduates, the typical entry point to investment banking is at associate level. The average associate salary at top investment banks including JP Morgan Chase & Co., Citi, and Bank of America is between $185k and $190k.
6. Private Equity Associate
Morgan Stanley, JP Morgan, BlackRock; all the financial heavyweights hire private equity associates straight out of business school.
You’ll need the knowledge and skillset to find potential investors, assist with investments, perform due diligence on clients, and see deals through to completion.
In the US, Glassdoor indicates that private equity associates can earn average salaries of $191k at Goldman Sachs, $212k at The Blackstone Group, and $175k at Bain Capital.
7. Chief Technology Officer (CTO)
Alongside finance, the tech industry is another of the top three industries that MBA grads enter. Whether you join a startup, an SME, or multinational, the chief technology officer role is a top position to aim for.
You’ll be using your MBA skills to establish a company’s technical vision, manage a technical team, or oversee technological development.
Such a senior role means a hefty MBA salary. The annual salary of a CTO varies, depending on company size, location, and your experience level. The average chief technology officer salary in the United States is around $172,000, according to Glassdoor. This rises substantially at top companies: IBM pays CTOs around $326k, at Microsoft it’s $395k, and at Google it’s as high as $530k.
8. Marketing Manager
At the high end, a marketing manager in the UK can earn around $84,000, which rises to $115,000 for senior marketing managers.
The marketing manager role at one of the large tech companies in the US is also high. MBA job opportunities in marketing at Amazon, for example, bring high salaries. A marketing manager at the firm earns on average more than $143,000 in annual compensation.
Consumer goods firms in the US also pay marketing managers six figures. A marketing manager at Walmart, for example, can expect an average base salary of around $114,000.
9. Senior Data Analyst
MBA job opportunities in data science are booming for business school grads.
A senior data analyst specializes in collecting data, organizing that data, and then analyzing it so that they can accurately report their findings to help other departments to make informed decisions.
In the US, senior data analysts working with the likes of Target and Home Depot earn salaries of $112k to $116k, while at McKinsey salaries reach $163k.
With the World Economic Forum predicting technology, big data, and analytics will dominate the jobs of the future, expect this to be a role filled by MBA talent for years to come.
For more information on how to launch careers in consulting, finance, technology, and more, plus free advice from b-school careers experts, download our BusinessBecause Careers Guide: What’s Next After Business School?