How Much Can You Earn With A Business Master’s?

Sponsored by EGADE Business School at Tecnológico de Monterrey

A business master’s is a significant investment, but the return on investment (ROI) pays measurable dividends. Recent findings from the Graduate Management Admission Council’s (GMAC) Corporate Recruiters Survey has shown that business master’s graduates are more likely to earn a healthier salary premium than new bachelor’s hires.

Using data from PayScale and the US Bureau of Labor Statistics, we take a closer look at some of the highest paying careers you can have with a specialized business master’s, including the MBA.

Business analyst

Average salary: $61,000 in the US

Also known as business consultants, business analysts are a key player in any organization. They need top analytical thinking and problem-solving skills to operate data modelling practices in order to review and improve business processes, structures, and efficiencies. Strong communication skills are also essential as business analysts liaise with clients, stakeholders, and an interdisciplinary team.

Keep in mind that salary is dependent on the size of the organization, the sector you work in, and the complexity of the project you are working on.

Earning your degree from a top program, such as EGADE Business School’s new Master in Business Analytics, can also help significantly, as it lays the groundwork for a career in business analytics.

Finance manager

Average salary: $92,140 in the US

The roles and responsibilities of finance managers vary greatly. Typically, finance managers oversee end-to-end finance operations and ensure such operations are in line with current statutory legislation. An eye for detail and head for numbers is essential as they configure financial planning and analysis in order to provide sound financial guidance and solutions to the business for its short-term and long-term goals.

It’s important to keep in mind that when it comes to salary, the size and location of the organization, and whether it is public or private, can all have an impact. Because the role requires specialist skills, the salary can be generous. Some finance managers earn higher salaries, while others earn a lower basic pay, but with additional bonuses.

Entry-level finance manager roles are a good way to get your foot in the door and there are lots of opportunities for the taking. According to the US Bureau of Labor Statistics, it’s expected that almost 600,000 new jobs in business and financial operations will be generated by 2028. Many of which will require specialized qualifications, such as a Master in Finance.

Account executive

Average salary: $54,470 in the US

Account executives are oriented more towards sales and marketing as they devise effective advertising campaigns that meet their client’s brief, budget and goals.

Those with an MBA are likely to excel in this role with their excellent communication, negotiation, and interpersonal skills. They should also be success-driven, have great commercial awareness, and be able to confidently pitch to new business and clients.

According to the US Bureau of Labor Statistics, employment opportunities for advertising, promotions, and marketing managers between 2019 and 2029 are expected to grow by six percent, which is faster than the average growth rate for all occupations. It’s important to keep in mind that salaries at all levels can vary greatly depending on location and size of the agency organization.

Digital strategist

Average salary: $61,314 in the US

The world of business never needed more digital strategists than it does right now. Digital strategists blur the line between traditional business and modern solutions and help transform their organization with digital transformation projects.

Digital strategists’ experience, knowledge and skillsets are valuable assets to any organization. An increasing deficit of digital strategists means earning a master’s in business management, business analytics or a Graduate Degree in Digital Strategy from EGADE Business School can help you secure a job in this lucrative market.

But like before, location and the size of an organization can mean salary prospects differ massively.