Career advancement requires competency, which means that professionals looking to move up in their industry or pivot to a new area need to have strong skills and knowledge. Master of Business Administration (MBA) programs are a great opportunity for professionals to gain high-level education that enhances their existing skills and expertise.
MBA programs are often considered to be the best business degree out there: they offer extensive networking opportunities, career-relevant skill development, real-world curricula and dedicated faculty.
The career opportunities available to MBA graduates are varied, both in terms of seniority and industry. Graduates of an MBA program can find strategic leadership roles in business and professional services, government, tech, health care, finance and the nonprofit sector.
What Is an MBA Degree?
A Master of Business Administration degree is designed to strengthen your professional knowledge in core areas of business administration:
- Accounting
- Finance
- Marketing
- Operations
- Human capital management
MBA graduates will also develop practical “soft” skills in three areas: thinking ability, interpersonal communication and leadership.
| Soft Skills of Business Leadership | ||
|---|---|---|
Thinking Skills | Interpersonal Skills | Leadership Skills |
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|
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Strengthening your skills in all three of these areas, in addition to becoming an expert in the basics of each functional business area, will help you become a strong leader who can make data-driven decisions that positively impact your organization.
These are valuable skills, and having them gives you a huge advantage that could potentially change your career trajectory for the better. As such, MBA programs are a great way to enhance your career readiness and position yourself for advanced roles in management and leadership.
MBA graduates were the most hired talent in 2023 and are expected to be the most hired in 2024.
— Graduate Management Admission Council Corporate Recruiters Survey (2024)
12 High-Paying Careers With an MBA
| Industry | Job Title | Median Annual Salary |
|---|---|---|
| Business and Professional Services | Operations Manager | $101,280 |
| Management Consultant | $106,400 | |
| Government and Public Service | Director of Government Affairs | $154,500 |
| City Manager | $138,100 | |
| Technology | IT Project Manager | $115,100 |
| Business Intelligence Director | $147,200 | |
| Health Care | Health Services Manager | $110,680 |
| Health Care Consultant | $102,800 | |
| Finance and Financial Services | Financial Manager | $161,700 |
| Financial Analyst | $101,910 | |
| Nonprofit Management | Executive Director | $105,350 |
| Fundraising Director | $100,100 |
Sources: U.S. Bureau of Labor Statistics and Lightcast
Business and Professional Services
1. Operations Manager
Median Annual Salary: $101,280 (U.S. Bureau of Labor Statistics)
Operations managers are responsible for overseeing day-to-day and long-term strategic operations, with a particular focus on ensuring that daily operations are aligned with and contributing to long-term goals.
Operations managers might:
- Oversee the operations team
- Help establish policy
- Lead training efforts
- Prepare department budgets
- Manage process optimizations
- Monitor resource allocation
MBA programs offer dedicated courses in operations management and strategic management, making an MBA a great choice for aspiring operations managers.
2. Management Consultant
Median Annual Salary: $106,400 (Lightcast)
Management consultants typically are employed by agencies and contract their work out to companies on a per-project basis to help organizations achieve their goals. Essentially, they are professional problem solvers: analyzing operations, identifying issues and providing solutions that support:
- Strategic planning
- Operational improvement
- Change management
- Technology integration
- Financial management
- Staffing issues
Given the broad responsibilities of this role and its cross-functional importance, an MBA is often required for consultants. Courses that cover strategic management, human capital management and data analysis will all be relevant to consultants.
MBA Careers in Government and Public Service
3. Director of Government Affairs
Median Annual Salary: $154,500 (Lightcast)
A director of government affairs, sometimes called a director of legislative affairs or government relations, manages an organization’s relationship with all levels of government. By supporting government relations, these professionals ensure that their organization’s policies and programs are seeing the benefits of legislation.
Government affairs directors have strategic, administrative and legislative responsibilities, including:
- Lobbying for legislation and policy that supports their organization
- Managing public relations
- Leveraging public policy to support organizational goals
- Generating support for political or social issues
- Sharing information about government actions with internal stakeholders
An MBA may offer specific courses in public policy, allowing you to formally prepare for this role. With the strategic skills taught in an MBA, you’ll be prepared for the often complicated coordination efforts between government and the private sector.
4. City Manager
Median Annual Salary: $138,100 (Lightcast)
City managers are typically responsible for overseeing all of the day-to-day operations of a city or town. While they are government employees, city managers are hired rather than elected positions.
City managers will be responsible for:
- Coordinating with all city departments
- Meeting with community stakeholders and personnel
- Supervising government initiatives
- Appointing and managing senior government officials
City managers are effectively the administrative executives of local governments, and running a local government can oftentimes be similar to running a company. As such, an MBA is a great fit for individuals aspiring to become city managers.
Technology
5. IT Project Manager
Median Annual Salary: $115,100 (Lightcast)
Project managers leverage their skills to ensure that projects meet critical deadlines, milestones and goals. While they can work in nearly every industry and organization, they are especially relevant in the tech sector, where project-based work is a key driver of operations.
IT project managers may plan and execute a variety of projects, such as:
- Integrating new tech solutions
- Support IT process improvement
- Updating data structures
While an MBA won’t be required for project managers, it can support their career growth and prepare them for the workplace. With an MBA, especially one with a concentration or certificate in project management, you’ll have cross-functional business skills that allow you to implement projects more effectively.
6. Business Intelligence Director
Median Annual Salary: $147,200 (Lightcast)
Business intelligence (BI) directors oversee the data-driven decision-making processes of an organization. Essentially, they manage an organization’s data science and analysis teams and bridge the gap between the technical side of data collection and the business side of organizational strategy.
BI directors will:
- Manage and lead data teams
- Develop and implement data strategies
- Oversee the technology and infrastructure behind data analysis
- Measure success of business performance
- Communicate recommendations and performance insights to fellow leaders
BI directors need a dual skill set in data analytics and business strategy. Modern MBA programs are well-aware of this rich career area, and may offer specific courses in business technology, data analysis and decision-making.
Health Care
7. Health Services Manager
Median Annual Salary: $110,680 (U.S. Bureau of Labor Statistics)
Health services managers are responsible for overseeing the operations and strategic planning of a health care facility, usually a hospital or high-traffic clinic. These professionals are strategic and logistical leaders who are responsible for:
- Strategic, goal-oriented planning
- Budget management and oversight
- Scheduling and staffing
- Legal and regulatory compliance
- Internal policy creation
- General operations management
Similar to operational management positions, a health services manager can greatly benefit from the strategic management focus of an MBA degree. Many MBA programs also offer specialized health care courses, providing even more expert insight into this highly specialized field.
8. Health Care Consultant
Median Annual Salary: $102,800 (Lightcast)
Much like management consultants, health care consultants use their skills and expertise to help organizations solve problems and navigate challenges. The key difference is that health care consultants are dual experts with an understanding of general business operations and health care. Typically, consultants in the health care field are focused on:
- Reducing costs
- Increasing revenue
- Improving patient satisfaction
- Supporting strong patient outcomes
- Developing more efficient processes
While most consultants only need to consider a business’s bottom line, health care consultants also need to prioritize patient outcomes and safety. An MBA will provide you with an education in ethics, so you can apply these considerations effectively in a health care consulting role.
Finance & Financial Services
9. Financial Manager
Median Annual Salary: $161,700 (U.S. Bureau of Labor Statistics)
Financial managers play an important role monitoring the financial performance of an organization. In addition to overseeing day-to-day operations of a finance department, these managers will:
- Prepare reports and financial statements
- Analyze industry trends
- Manage investments
- Monitor regulatory compliance
- Lead the finance department
An MBA is fantastic preparation for a financial management career. MBA coursework will cover financial accounting and general finance, equipping you with key skills to improve any organization’s financial situation.
10. Financial Analyst
Median Annual Salary: $101,910 (U.S. Bureau of Labor Statistics)
Financial analysts collect and organize an organization’s financial data, then provide strategic recommendations based on their insights. By leveraging internal financial data and market trends, financial analysts can propose long-term strategies, identify opportunities and recommend ideal areas for investment.
The day-to-day responsibilities of a financial analyst may include:
- Researching market trends, inflation rates and employment data
- Analyzing financial statements and revenue reports
- Recommending improvements to financial planning, reporting and budgeting
- Communicating findings to stakeholders
Financial analysts need technical skills, but they also need to understand how to make strategic recommendations and communicate complex information to non-experts. An MBA’s focus on cross-functional business skills will help support your financial analysis skills, as well as your strategic thinking and communication abilities.
Nonprofit Management
11. Executive Director
Median Annual Salary: $105,350 (U.S. Bureau of Labor Statistics)
You may find the title “executive director” in a variety of organizations and industries, but this role is common in the nonprofit sector. These professionals perform a role similar to CEOs in private organizations, but they are typically appointed by a board of directors.
Nonprofit executive directors are responsible for setting strategic goals for the organization, monitoring progress toward those goals and overseeing the full scope of a nonprofit’s operations. Their full scope of responsibilities may include:
- Strategic leadership
- Financial management
- Operational oversight
- Stakeholder and community engagement
- Reporting to the board of directors
12. Development Director
Median Annual Salary: $100,100 (Lightcast)
Development directors, or fundraising directors, are responsible for the fundraising efforts of a nonprofit organization. Nonprofits can’t operate without generous donors, so these professionals are critical to organizational success.
The tasks of a development director include:
- Creating a fundraising plan
- Implementing fundraising initiatives
- Managing the fundraising team
- Monitoring performance of campaigns
- Collaborating with other teams, especially PR and communications
- Reporting on progress to the executive director and board
The soft skills taught in an MBA program are crucial to development directors, who need to understand how to communicate with individuals, provide compelling cases for donations and negotiate effectively.
What Jobs Require an MBA?
While all organizations will set their own requirements, there are certain roles that typically require an MBA degree. Some of the jobs that require an MBA include:
- C-suite roles, like CEO or COO
- Consultant positions
- Specialized executive management roles, specifically at director, VP and EVP levels
- Investment banking
High-level roles such as these require experience, education and undeniable strategic thinking ability. While there are other degrees that offer strong management skills and strategic thinking abilities, MBAs are widely considered to be the gold standard for these advanced leadership roles.
Capital Connections, Global Perspectives: GW’s Online MBA
Advance your career with the GW School of Business’s Master of Business Administration, available online or in-person. Our expert-led blend of live discussion, real-world case studies and multimedia learning will help you develop the strategic thinking skills and global perspective needed for leadership.
We believe in supporting our students through their academic journeys: every student accepted into our summer and fall 2025 online graduate programs will receive an automatic tuition scholarship.
Learn more by requesting a brochure, or start your application today!
Since 1928, GW School of Business students have leveraged our global presence to pursue practical, insightful expertise in the world of business from an enviable vantage point. One of the most diverse cities in the United States, D.C. is home to leading organizations in the health care, hospitality, media, government, defense and technology sectors. Our faculty are thought leaders and educators in these areas and more, and they’re ready to provide you with the business and management expertise you need to succeed.
Sources
- U.S. Bureau of Labor Statistics - Human Resources Specialists: Occupational Outlook Handbook
- U.S. Bureau of Labor Statistics - Management Analysts: Occupational Outlook Handbook
- U.S. Bureau of Labor Statistics - Top Executives: Occupational Outlook Handbook
- U.S. Bureau of Labor Statistics - Project Management Specialists: Occupational Outlook Handbook
- U.S. Bureau of Labor Statistics - Occupational Employment and Wages
- U.S. Bureau of Labor Statistics - Medical and Health Services Managers
- U.S. Bureau of Labor Statistics - Administrative Services and Facilities Managers
- U.S. Bureau of Labor Statistics - Financial Managers: Occupational Outlook Handbook
- U.S. Bureau of Labor Statistics - Financial Analysts: Occupational Outlook Handbook
- U.S. Bureau of Labor Statistics - Public Relations and Fundraising Managers
- Graduate Management Admission Council™ - What Can You Do with an MBA?