Earning an MBA could be your key to a high-paying job, networking opportunities, and personal growth and development.
In the UK, you can pull in a solid salary post-MBA. The London Business School, for instance, not only is widely regarded as the top MBA program in the UK, but also is the only business school in the UK to have been awarded the number one position in the FT global rankings. The average weighted salary for MBA graduates at the London Business School is GBP 97,000.
While just about any MBA will leave you better off and position you to enjoy a great career, that doesn’t mean that there aren’t some that are better than others in terms of salary boost.
According to the QS Return on Investment Report European Full-Time MBA 2015, Europe ranks at number one in terms of the globe’s best average 10-year MBA return on investment of US$ 0.67 million and US$2.9 million at the 20-year mark. Meanwhile, in Europe the salary hike from pre-MBA — an average of US$50,226 — to MBA — an average of US$91,586 — works out to an average 85% salary uplift.
With that said, read on to learn about 6 careers that will give you a salary boost if you have an MBA.
- Marketing Manager: Marketing managers develop, roll out, and execute marketing strategies for entire companies. While you can get such a job with an undergraduate degree, you can really open up your options in the field — and potentially make more money — with the skills you’ll learn in business school. According to statistics, marketing managers in London can make as much as about GBP 68,000, while the average salary is more along the lines of GBP 42,000.
- Financial Advisor: Financial Advisors assess their clients’ financial needs and then help them to develop a plan, which includes investments, insurance, and more, so that they can reach their short-term and long-term financial goals. Financial advisors in the UK can potentially earn financial compensation of GBP 67,818.
- Human Resources Specialist: Human resources specialists play a key role in recruiting, screening, interviewing, and hiring workers to fill vacancies. As well, they help with employee relations, training, and compensation and benefits. In the UK, a human resources manager could earn GBP 52,201 or more.
- Fundraiser: Fundraisers are responsible for achieving donation targets by reaching out to corporations, trusts, private individuals, and others as well as for setting up fundraising events. While an MBA degree will give you the business skills needed to thrive at this job, you’ll also need soft skills like being persuasive and likeable to do well as a fundraiser. While salaries are all over the map — senior manager-level fundraisers can pull in between GBP 40,000 and GBP 50,000 — it is possible to make in excess of GBP 100,000.
- Logistician: Logisticians are responsible for analyzing and coordinating their companies’ supply chain. Specifically, they oversee the complete lifecycle of products, which includes how products are purchased, distributed, and delivered. The median salary for logistics managers in the UK is GBP 30,677, but it is possible to make upwards of GBP 49,914 annually.
- Medical and Health Services Manager: Professionals in this position are responsible for keeping health facilities, such as nursing homes and hospitals, operating properly. Demand for medical services is expected to expand between 2014 and 2024 to the tune of 17% as a result of the aging baby boomer demographic. For senior positions, you can potentially bring in between GBP 77,850 to GBP 98,453.
Pursuing an MBA can definitely be your ticket towards a better-paying job. If you want an idea about the types of careers that will give you a salary boost if you have an MBA, you can start by mulling over the aforementioned list of 6 such careers to whet your appetite.