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The last few years offered us many innovations that had a direct effect on MBA choices for young students. MBAs offer students the chance to choose a concentration that fits their personality and allows them to take advantage of their natural aptitudes. In this article, we’re going to take a look at some of the best MBA concentrations for 2017.
Finance
An MBA in finance prepares the graduate for the highest responsibilities in a financial organization. A finance, business or accounting degree with an MBA is a minimum for becoming an investment banker, fund manager, and increasingly, working with investments and securities.
Government regulation and oversight is increasing the demand for MBAs in finance. Whether it is ensuring that banks or publicly traded businesses meet the regulations spelled out in the Frank-Dodd Act, Sarbanes-Oxley regulations or FTC guidelines, this MBA offers great job prospects and is one of the highest paying MBA concentrations available.
For someone with an MBA in accounting or accounting bachelor’s degree plus an MBA specializing in accounting, the median salary is around $95,000.
MBA with IT
Some of the best careers with an MBA are available to those with a bachelor’s degree in IT or engineering in addition to an MBA. These include IT manager, computer and information systems manager, and many other IT related managerial positions.
For those with a mix of IT and data analysis expertise, Big Data analysis jobs pay very well because you have very little competition. In 2015, Payscale said an MBA plus a STEM degree had the second highest salary early in someone’s career of any degree combination. The median starting salary for an MBA in IT is $110,000.
The number of jobs for MBAs in IT or STEM is growing faster than the job market because companies realize the need to put experts in these positions and the expanding investment in computing infrastructure.
Healthcare
Healthcare employers are increasingly hiring MBAs to navigate the complex rules for federal reimbursement, patient privacy, electronic medical records and a host of other legal rules. A health services manager, healthcare administrator or medical manager is very likely to hold an MBA nowadays.
You can pursue MBA in addition to a bachelor’s degree in a medical field, or an MBA focusing in health services management. The median salary for a health services manager is about $94,500 per year.
Marketing
According to this paper by the University of Maryland on top careers for MBA grads, marketing manager is one of the most sought after MBA concentrations to watch for in 2017. An MBA in marketing is something companies pay well for, as they need new blood that understands the realities of the current market. Those who can promote a product to new markets directly contribute to the business’ bottom line.
With an MBA in marketing, the median starting salary for a marketing manager is $108,000.
Great MBAs are available in almost every concentration imaginable. It’s up to you to choose a field with good job opportunities that will take advantage of your personal talents and interests.
