Many students and professionals see an MBA as the next logical step to advance their careers. In the ever-evolving business landscape, choosing the right MBA course can be a game-changer for your career trajectory. In this comprehensive guide, we've disussed the highest-paying MBA Specialisations, offering invaluable insights into the most sought-after fields, job prospects, and expected salaries.
Key Highlights of the Blog:
- Finance, Business Analytics, Marketing, and Economics are the best paid MBA Specialisations in 2024
- The cost to pursue these high-paying MBA Specialisations ranges from $50,000 to $150,000 per annum.
- Harvard, Stanford, Oxford, and Cambridge are some of the reknowned universties to offer these popular MBA courses.
If you want to learn more about how to gain admission to the best MBA Specialisations at the top-ranked universities across the globe, explore Yocket Premium.
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Table of Contents |
Top 10 Highest Paying MBA Specialisations for Future
The Master of Business Administration (MBA) is a post-graduate degree that teaches you about various areas of business, like finance, marketing, operations, and management. Picking the right MBA Specialisation for studying abroad can be tricky, but it’s important to choose wisely.
Here is the list of the top 10 highest-paying MBA Specialisations in the world:
|
Top MBA Courses |
Job Profile |
Average Salary Per Year (in USD) |
Average Salary Per Year (in INR) |
|---|---|---|---|
|
Business Analytics |
|
$70,000 |
58L |
|
Information Technology |
|
$75,000 |
62L |
|
Finance |
|
$65,000 |
54L |
|
Marketing |
|
$80,000 |
66L |
|
Economics |
|
$75,000 |
62L |
|
Entrepreneurship |
|
$75,000 |
62L |
|
Data Analytics |
|
$90,000 |
75L |
|
International Business |
|
$100,000 |
83L |
|
Investment Management |
|
$95,000 |
79L |
|
Innovation Management |
|
$80,000 |
66L |
Which is the Highest Paid MBA Specialisation in the World?
Now that you know which MBA Specialisation has the highest ROI and scope for the future, let us dive deeper into the best paid MBA Specialisations:
1. MBA in Business Analytics
Business Analytics is the highest-paying MBA Specialisation in 2024. An MBA in Business Analytics is all about systematically analyzing data to reach valid conclusions and decisions. The data here is generated through business operations or statistical sources to evaluate efficiency, cost, and results. Pursuing this Specialisation enhances your leadership, technical, and analytics
Scope: The Bureau of Labour Statistics (BLS) expects growth for business analytics skills to jump 10.9 percent, outpacing the national growth average of 5.2 percent for all jobs, from 2018 to 2028.The Bureau of Labour Statistics (BLS) expects business analytics skills to grow by 10.9 percent, outpacing the national growth average of 5.2 percent for all jobs, from 2018 to 2028.
Core Subjects
- Financial Management
- Managerial Economics
- Operations Management
- Computer programming
- Quantitative Methods
Jobs & Average Salary After an MBA in Business Analytics
|
Job Profile |
Average Salary Per Year (in USD) |
Average Salary Per Year (in INR) |
|---|---|---|
|
Business Systems Analyst |
$60,000 - $70,000 |
50L - 58L |
|
Business Strategist Analyst |
$50,000 - $96,000 |
41L - 80L |
|
Business Application Analyst |
$70,000 - $100,000 |
58L - 83L |
|
Business & Data Analyst |
$40,000 - $90,000 |
33L - 75L |
|
Healthcare Business Analyst |
$80,000 - $100,000 |
66L - 83L |
Best Universities pursue an MBA in Business Analytics
- Massachusetts Institute of Technology
- Imperial College London
- Alliance Manchester Business School
- University of Alberta
- University of Melbourne
2. MBA in Information Technology
Information Technology is the second highest-paid MBA Specialisation in the world. An MBA in IT combines business management principles with IT knowledge. This specialisation focuses on managing technology projects, IT infrastructure, and technology-driven business strategies. It prepares graduates for leadership roles in tech firms or IT departments, bridging the gap between technology and business operations. An MBA in IT is a great choice to have an edge in today’s tech-savvy work environment.
Scope: According to data from the Bureau of Labor Statistics (BLS), jobs for MBA in Information Technology are expected to rise by 13 percent from 2020 to 2030, with an addition of more than 667,600 new jobs.
Core Subjects
- Operation Management
- Business Intelligence and Analytics
- Data Visualization and Modeling
- IT Project and Operations Management
- Business Intelligence and Analytics
Jobs & Average Salary After an MBA in Information Technology
|
Job Profile |
Average Salary Per Year (in USD) |
Average Salary Per Year (in INR) |
|---|---|---|
|
Information Technology Manager |
$45,000 - $95,000 |
37L - 79L |
|
IT Services Manager |
$50,000 - $90,000 |
41L - 75L |
|
Senior IT Business Analyst |
$30,000 - $70,000 |
25L - 58L |
|
Solutions Architect Senior Manager |
$80,000 - $95,000 |
66L - 79L |
|
IT Senior Associate |
$40,000 - $75,000 |
33L - 62L |
Best Universities pursue an MBA in Information Technolgy
- Carnegie Mellon University
- Massachusetts Institute of Technology
- University of Glasgow
- University of Toronto
- University of New South Wales (UNSW), Sydney
3. MBA in Finance
Another popular and well paid MBA Specialisation is Finance. An MBA in Finance paves the way for rewarding careers in some major sectors of the economy like insurance, taxation, international finance, wealth management, tax planning, etc. You may also work as financial advisors and planners for renowned organizations. Finance indeed occupies an important place in all sectors of economics, business, and management.
Scope: The Bureau of Labour Statistics (BLS) expects the finance sector to grow by 18% by 2030, which is much faster than average.
Core Subjects
- Corporate investment management
- Risk management
- Corporate finance
- Financial Accounting
- Business Analysis and Valuation
Jobs & Average Salary After an MBA in Finance
|
Job Profile |
Average Salary Per Year (in USD) |
Average Salary Per Year (in INR) |
|---|---|---|
|
Finance Analyst |
$35,000 - $65,000 |
29L - 54L |
|
Finance Consulting Manager |
$55,000 - $90,000 |
45L - 75L |
|
Leveraged Finance Associate |
$50,000 - $80,000 |
41L - 66L |
|
Financial Management Associate |
$68,000 - $100,000 |
56L - 83L |
|
Manager- Finance Integration & Separation |
$55,000 - $90,000 |
45L - 75L |
Best Universities pursue an MBA in Finance
- University of Pennsylvania (Wharton)
- University of Chicago (Booth)
- London Business School
- Imperial College London
- Frankfurt School of Finance & Management
4. MBA in Marketing
An MBA in Marketing is designed to offer business knowledge by carefully grasping the marketing side of it. As marketing students, you will learn to examine consumer behavior thoroughly and come up with products that people most likely want to purchase. This Specialisation offers expert knowledge on creating, communicating, and delivering a certain value to fulfill the targeted market and earn profits.
Scope: The Bureau of Labor Statistics (BLS) states that marketing managers earn an estimated annual salary of $14,500 (INR 12,10,810).
Core Subjects
- Retail Marketing
- Services Marketing and Customer Relationship Management
- Advertising Management and Sales Promotion
- Consumer Behaviour
- E-Marketing
Jobs & Average Salary After an MBA in Marketing
|
Job Profile |
Average Salary Per Year (in USD) |
Average Salary Per Year (in INR) |
|---|---|---|
|
Equity Portfolio Specialist |
$50,000 - $75,000 |
41L - 62L |
|
Business Intelligence Manager |
$60,000 - $75,000 |
50L - 62L |
|
Field Marketing Manager |
$50,000 - $80,000 |
41L - 66L |
|
Client Success Specialist |
$50,000 - $80,000 |
41L - 66L |
|
P&L Controller |
$70,000 - $85,000 |
58L - 70L |
Best Universities pursue an MBA in Marketing
- Northwestern University (Kellogg)
- University of Pennsylvania (Wharton)
- Oxford Business School
- EU Business School
- University of Melbourne
5. MBA in Economics
The next MBA Specialisation with the highest salary is Economics. The role of economists is to collect and analyze data, research trends, and evaluate economic issues for resources, goods, and services. It offers you the eligibility to work as a specialist in areas like business intelligence, operations research, information sciences, econometrics, and so on.
Scope: About 1,600 openings for economists are projected each year, on average, over the decade, according to data by the Bureau of Labour Statistics (BLS). It expects jobs in the economics sector to grow by 13% from 2020 to 2030.
Core Subjects
- Public Finance and Taxation
- Business Accounting
- Computer Application
- Statistical Methods
- Principles of Management
Jobs & Average Salary After an MBA in Economics
|
Job Profile |
Average Salary Per Year (in USD) |
Average Salary Per Year (in INR) |
|---|---|---|
|
Economic Development Analyst |
$45,000 - $70,000 |
37L- 58L |
|
Policy Analyst |
$65,000 - $105,000 |
54L - 87L |
|
Research Economist |
$75,000 - $100,000 |
62L - 83L |
|
Healthcare Economists & Trend Analyst |
$45,000 - $90,000 |
37L - 75L |
|
Economic Analyst |
$60,000 - $80,000 |
50L - 66L |
Best Universities pursue an MBA in Economics
- University of Oxford
- University of Cambridge
- Stanford University
- University of Munich
- University of Bonn
Suggested: Jobs and Salary After MBA in the USA
6. MBA in Entrepreneurship
An MBA in Entrepreneurship equips students with the skills and knowledge needed to start and manage their own businesses. This specialisation is among the top-paying MBA courses, emphasizing competencies and innovation for both large and small-scale enterprises. Students gain insights into business development, market analysis, innovation, and corporate strategy.
Scope: The Bureau of Labor Statistics (BLS) states that entrepreneurs earn an estimated annual salary of $14,500 (INR 12,10,810).
Core Subjects
- Accounting
- Finance
- Marketing
- Information technology
- Operations management
Jobs & Average Salary After an MBA in Entrepreneurship
|
Job Profile |
Average Salary Per Year (in USD) |
Average Salary Per Year (in INR) |
|---|---|---|
|
Management Consultant |
$55,000 - $70,000 |
45L - 58L |
|
Senior Product Manager |
$85,000 - $105,000 |
70L - 87L |
|
Business Intelligence Manager |
$60,000 - $75,000 |
50L - 62L |
|
Client Success Specialist |
$50,000 - $80,000 |
41L - 66L |
Best Universities pursue an MBA in Entrepreneurship
7. MBA in Data Analytics
As one of the highest-paying specialisations, an MBA in Data Analytics focuses on efficiently processing and interpreting data. Popular among computer science engineering graduates, this specialisation offers substantial ROI and significant industry exposure. The role is similar to business analysis but emphasizes leveraging data in different ways.
Scope: The Bureau of Labor Statistics (BLS) states that data analysts earn an estimated annual salary of $82,360 (INR 68,77,410) per year. And the job outlook is estimated to be 25% within 2020-2030.
Core Subjects
- Data visualization
- Analytics
- Data management
- Data mining
- Machine learning
Jobs & Average Salary After an MBA in Data Analytics
|
Job Profile |
Average Salary Per Year (in USD) |
Average Salary Per Year (in INR) |
|---|---|---|
|
Research Analyst |
$80,000 |
66L |
|
Data Analyst |
$85,000 - $105,000 |
70L - 87L |
|
Operations Research Analyst |
$85,000 - $105,000 |
70L - 87L |
|
Business & Data Analyst |
$40,000 - $90,000 |
33L - 75L |
Best Universities pursue an MBA in Data Analytics
- Massachusetts Institute of Technology (Sloan)
- Carnegie Mellon University
- University of Pennsylvania (Wharton)
- New York University (Stern)
8. MBA in International Business
An MBA in International Business focuses on managing and expanding businesses across global markets. This high-paying MBA specialisation provides students a global view of business and teaches them how to work with professionals from different cultures. An MBA in International Business responds to the growing trend of globalization and helps graduates understand and succeed in international markets.
Scope: The Bureau of Labor Statistics (BLS) states that the Director of Global Business earns an estimated annual salary of $100,360 (INR 83,80,480) per annum. And, the job outlook is estimated to be 14% within 2020-2030.
Core Subjects
- International Logistics
- Business environment
- Financial statement analysis
- Industrial marketing
- International Economics
Jobs & Average Salary After an MBA in International Business
|
Job Profile |
Average Salary Per Year (in USD) |
Average Salary Per Year (in INR) |
|---|---|---|
|
Research Analyst |
$80,000 |
66L |
|
Data Analyst |
$85,000 - $105,000 |
70L - 87L |
|
Risk Manager |
$95,000 - $105,000 |
79L - 87L |
|
Director of Global Business |
$100,000 |
83L |
|
Management Analyst |
$80,000 - $90,000 |
66L - 75L |
Best Universities pursue an MBA in International Business
- The University of Melbourne
- University of Manchester
- Imperial College of London
- University of Vaasa
Suggested: Cost of Studying MBA in the UK
9. MBA in Investment Management
An MBA in investment management is highly preferred across the globe because of its extremely valued degree and great ROI. Investment managers closely work with their clients to build their company’s portfolios, analyzing market trends and investment policies.
Scope: The Bureau of Labor Statistics (BLS) states that financial managers earn an estimated annual salary of $131,360 (INR 1,09,69,110) per year. And, the job outlook is estimated to be 17% within 2020-2030, which is much faster than average fields.
Core Subjects
- Management Accounting
- Managerial economics
- Direct taxation
- Investments
- Macroeconomics
Jobs & Average Salary After an MBA in Investment Management
|
Job Profile |
Average Salary Per Year (in USD) |
Average Salary Per Year (in INR) |
|---|---|---|
|
Senior Accountant |
$80,000 |
66L |
|
Investment Analyst |
$80,000 |
66L |
|
Risk Manager |
$95,000 - $105,000 |
79L - 87L |
|
Portfolio Manager |
$85,000 |
70L |
|
Financial Manager |
$100,000 |
83L |
Best Universities pursue an MBA in Investment Management
- NYU Stern School of Business, New York University
- London Business School (LBS)
- Cornell University
- Columbia University
10. MBA in Innovation Management
An MBA in Innovation Management is a very diverse degree, wherein students learn to understand a business’s strengths and weaknesses, and thereby build innovative solutions for them. This MBA Specialisation requires students to work closely with multiple sections in the economy. It prepares graduates for high-demand roles in driving organizational change and fostering growth through innovation.
Scope: The Bureau of Labor Statistics (BLS) states that consultants earn an estimated annual salary of $99,410 (INR 83,01,150).
Core Subjects
- Consumer behavior
- Creativity
- Digital advertising
- Entrepreneurship
- Leadership communications
Jobs & Average Salary After an MBA in Innovation Management
|
Job Profile |
Average Salary Per Year (in USD) |
Average Salary Per Year (in INR) |
|---|---|---|
|
Management Consultant |
$55,000 - $70,000 |
45L - 58L |
|
Senior Product Manager |
$85,000 - $105,000 |
70L - 87L |
|
Senior Business Consultant |
$80,000 |
66L |
|
Business Intelligence Manager |
$60,000 - $75,000 |
50L - 62L |
Best Universities pursue an MBA in Innovation Management
- Stanford Graduate School of Business
- MIT Sloan School of Management
- Harvard Business School
- The Wharton School
Why Do You Need a Specialised MBA?
While a general MBA provides a broad understanding of business administration principles, pursuing a specialized MBA can significantly enhance your prospects for a rewarding career. A general MBA covers foundational topics in business administration, offering a broad knowledge base. On the other hand, a specialized MBA delves deeper into a specific industry or field, providing in-depth insights and expertise.
For instance, opting for an MBA in Business Analytics allows you to focus on the application of analytics within business management. You'll gain proficiency in areas such as data management, predictive analytics, data visualization, and quantitative methods. While a general MBA can broaden your job opportunities, a specialized MBA often leads to higher-paying positions in top companies.
How to Choose the Right MBA Specialisation?
Pursuing an MBA opens up numerous career paths and Specialisations to explore. Selecting the right MBA Specialisation is crucial as it shapes your future career trajectory. Each Specialisation offers unique career opportunities. Thoroughly researching and understanding the scope, curriculum, and job prospects of various Specialisations can help you make an informed choice aligned with your aspirations. It's essential to consider the following factors when making this decision.
- Salary Potential: You must check the earning prospects associated with each Specialisation.
- Scope and demand in the job market: Consider how sought after the Specialisation is in various industries.
- Projected job growth: Look into the expected increase in job opportunities for the Specialisation in the future.
- Social prestige associated with the Specialisation: Think about the societal and professional recognition linked to the field.
- Quality of faculty: Assess the expertise and experience of the professors teaching the Specialisation.
- Availability of internships and placement opportunities: Check the access to internships and job placements during and after the MBA program.
- Research resources and infrastructure: Ensure the school offers robust resources and facilities for research in your chosen field.
- Tuition costs and return on investment (ROI): Compare the cost of the program with the potential financial benefits post-graduation.
While the demand and earning potential for different Specialisations can vary by location, certain MBA Specialisations remain popular worldwide.
Best Countries & Colleges to Study MBA Abroad
Many countries offer MBA programs at their universities. However, pursuing your degree from a highly sought-after destination can provide numerous advantages. The top study-abroad destinations, such as the USA, the UK, or Canada, not only offer access to prestigious global institutions but also expose you to multiculturalism and cultural inclusiveness. This can enhance your overall experience. Let's explore the top five destinations for pursuing an MBA program globally to understand the scope, demand, and career prospects in each of them.
|
Country |
Top Universities |
Average MBA Fees |
|---|---|---|
|
Canada |
|
CAD 37,000 (INR 22L) |
|
Australia |
|
AUD 60,000 (INR 33L) |
|
Germany |
|
EUR 40,000 (INR 36L) |
|
USA |
|
$ 74,910 (INR 62L) |
|
UK |
|
GBP 65,000 (INR 69L) |
Top Recruiters Hiring MBA Graduates Abroad
A discussion on which MBA Specialisation is best paid abroad is incomplete without looking at the top recruiters. One of the vital factors that go into choosing the highest-paid MBA Specialisation in the world is the available career opportunities after completion of the course.
Here are some of the top recruiters that hire MBA graduates:
|
Company |
Job Profile |
Salary |
|---|---|---|
|
Amazon |
Product Manager |
$ 160,000 (INR 1.3Cr) |
|
|
Product Marketing Manager |
$ 175,000 (INR 1.4Cr) |
|
Microsoft |
Program Manager |
$ 140,000 (INR 1.1Cr) |
|
Apple |
Operations Manager |
$ 150,000 (INR 1.2Cr) |
|
Deloitte |
Management Consultant |
$ 130,000 (INR 1Cr) |
|
Nike |
Brand Manager |
$ 120,000 (INR 1Cr) |
|
McKinsey & Company |
Management Consultant |
$ 185,000 (INR 1.5Cr) |
|
EY |
Management Consultant |
$ 140,000 (INR 1.1Cr) |
|
Bank of America |
Investment Banking Associate |
$ 125,000 (INR 1Cr) |
|
PwC |
Management Consultant |
$ 130,000 (INR 1Cr) |
Suggested: Is Work Experience Necessary to Pursue an MBA abroad?
From the Desk of Yocket
Choosing the right MBA Specialisation is crucial for a successful career path. Understanding the demand, scope, and salary potential of various Specialisations can guide individuals toward making informed decisions. Whether it's Business Analytics, Information Technology, Finance, Marketing, or Economics, each Specialisation offers unique opportunities for professional growth and financial success. By thoroughly researching and considering personal interests and goals, aspiring MBA students can pave the way for a rewarding journey in the dynamic world of business.
Gain valuable insights into the top-paying MBA Specialisations with Yocket Premium! Our expert counselors provide comprehensive guidance, helping you navigate the dynamic landscape of MBA programs. From salary potentials to job prospects, unlock the key to a successful MBA journey with Yocket Premium today.
