An Online MBA program is an essential tool for career advancement. It gives business leaders versatile skills. These skills help them excel in every business area. Online MBA specializations are becoming popular. But which are the highest paying MBA concentrations? Let’s dig in!
Highest Paying MBA Concentrations and Specializations
MBA students can dig deep in skill development in a specific aspect of business. They gain leadership and management skills. They can further customize a degree to a career niche. Pursuing a Master’s of Business Administration degree with an emphasis is tough. It requires distance learners to take extra courses in specific topics. This with the core MBA curriculum. MBA programs often communicate variations on specializations. Sometimes calling them focus areas or concentrations.
A specialization is a way to enjoy a broad-based online MBA core curriculum. Study plans span all major business disciplines. They offer more profound expertise in specific areas. Unlike specialized master’s programs, specialized online MBAs elevate students’ skills. They prepare them to lead in an executive or cross-discipline managerial position. Here are ten of the highest paying MBA concentrations in the nation.
Online MBA in Strategy
Strategy is the highest paying online MBA concentration. The business world is competitive, complex, and evolving. To succeed in this intense climate, organizations need to see and seize opportunities. They must:
- avoid unnecessary risks,
- maximize profits,
- earn a solid reputation, and
- remain a step ahead of the competition.
In other words, businesses need to make sound and intelligent leadership decisions. To do that, they need leaders who have skills in strategic management and corporate strategy.
According to its corporate goals, strategic management includes allocating a company’s resources. This includes supplies and staff to capital and infrastructure. It requires a keen understanding of the corporate culture. Competitive environment, market forces, and economic factors are vital. It also requires a mastery of change management, risk management, and decision making. Capitalizing on technology and innovation is a must.
An Online MBA program in Strategy or Strategic Management is a great degree. This highest paying MBA specialization features the training needed to succeed in this vital business function. Graduate students learn to influence a business plan. They rely on solid information and proven principles. Leaders develop solid decision-making skills. They gain insights into market forces that influence corporate success. These professionals earn a sought-after credential linked to lucrative salaries, and high job demand. MBA graduates from these programs have an array of employment options, and a prestigious career path.
Average MBA Salary – $120,221
Online MBA in Operations Management
The advancements of e-commerce is noteworthy. The boom in manufacturing and production technologies is tremendous. Businesses need a new and improved operations management system. This need has resulted in the creation of the Online MBA concentration in Operations Management. The degree prepares graduate students to handle various aspects of a business. Factors include manufacturing, production, planning, and providing services, with a lucrative salary potential.
The primary function of operations is to provide reliable, predictable products and services. An Online MBA in Operations Management equips leaders for an organization’s operations. It ensures they remain efficient and effective. Professionals in this field attempt to cut the variations of what they produce. Their customers can rely on the consistency of their products.
They are the backbone of an organization’s day-to-day operations. They help deliver quality products and services at an acceptable cost on schedule. An MBA in Operations Management graduate plans and supervises. Lessons include organizing manufacturing, production, and providing services. It is a results-focused discipline that requires analytical and organizational skills. There is a high level of responsibility within this profession. It is also known as a very lucrative career.
Average MBA Salary – $106,626
Online MBA in Management Information Systems
There is a current rise of connectivity and digitally-driven organizations. With this comes the business world’s need for well-trained professionals in technology management. They must manage information systems. Unlike computer science, information technology and management information systems programs are unique. They don’t focus on building specialized software and systems. An Online MBA concentration in Management Information Systems helps develop skills in technical disciplines. It finds ways that information systems can meet organizational objectives.
This degree develops leaders who focus on the humanity of information systems. Management of personnel and information systems are central to MIS professional duties. Many low-level technical positions are automated in recent years. Problem-solving and decision-making roles within technical organizations continue to need well-trained managers. These MBA graduates have a lot going for them.
Average MBA Salary – $103,763
Online MBA in Entrepreneurship
Some businesspeople are natural entrepreneurs. They began their childhood running a curbside lemonade stand. Some professionals opened their business as adults and couldn’t imagine doing it any other way. They work for themselves and bring their ideas to market. These innovative builders work countless hours to see their business succeed. They are ready to risk failure to do so.
You know that it takes more than work ethic and passion to create a thriving venture if you’re a born entrepreneur. It takes rock-solid business skills. It takes a successful network of mentors, advisors, and investors. Risky ventures might not be for everyone. Entrepreneurship stands as one of the highest paying MBA specializations.
An Online MBA in Entrepreneurship prepares graduate students. They will run their own business. This advanced degree offers specialized courses in entrepreneurship. Learners take MBA core courses around business administration and then dive into specialized coursework around entrepreneurship. Classes include small business management and venture capital to earn this degree. This multidisciplinary area of specialization prepares graduate students to start their business. They write a business plan and even manage an international company. Students in this field learn through traditional coursework, case studies, and project-based projects. MBA graduates from these entrepreneurship programs hit the ground running.
Average MBA Salary – $101,698
Online MBA in Finance
Finance Online MBA degrees contain a specialized group of courses focused on finance and financial management. General MBA programs include one graduate-level course in various business disciplines. MBA concentrations emphasize the greater depth of study in one field. MBA degrees in Finance begin like other MBAs with core courses in business disciplines. Some standard MBA core courses include:
- Leading Teams or Project Management,
- Data Analytics,
- Human Resources,
- Financial Accounting,
- Managerial Accounting,
- Operations Management,
- Logistics,
- Strategic Thinking, and
- Marketing Management.
As graduate students complete core courses, they begin taking specialization courses. Students within finance concentrations will often take three to five courses like:
- Corporate Restructuring,
- Corporate Budgeting,
- International Finance,
- Financial Management,
- Investment Analysis, and
- Advanced Financial Management.
Degree curricula may vary when pursuing a degree like the Online MBA in Finance. Choosing the right program with the perfect finance specialization can be transformative for tomorrow’s financial managers.
Average MBA Salary – $100,580
Online MBA in International Business
International Business Online MBA programs prepare graduate students for trade, management, and general business. These jobs are performed globally. These programs often feature internship opportunities through established organizations. Learners gain hands-on experience in international business. An undergraduate degree from an accredited college or university is required.
This degree equips management analysts, administrative service managers, and chief executive officers. These MBA grads specialize in business dealings with overseas organizations. The low salary range for these positions is below the national median income. The high end of the salary range is in the low six figures. The Online MBA in International Business is an attractive option for working professionals. This advanced degree develops business students. Their skills in analytics, decision-making, communications, and managerial economics grow. Coursework covers topics like:
- international markets,
- distribution logistics, and
- trade laws.
Many programs feature applied learning by offering capstone projects and internships. These MBA graduates develop the critical skills to work in diverse groups, domestically and abroad.
Average MBA Salary – $96,737
Online MBA in Business & Marketing
An Online MBA in Marketing is one of the most popular graduate programs available today. Marketing managers study consumer behavior. They create services and products that customers will most likely want. Classes in marketing cover:
- market research,
- advertising,
- branding,
- marketing strategies,
- global marketing, and
- online marketing, among many other subjects.
This exciting, advanced degree prepares marketing managers for more than careers in marketing. Some of the career options include entrepreneurial careers, general management, and consulting.
A Marketing MBA concentration teaches skills professionals can use in any field. Students take lessons in analytics, mathematics, communications, and management. A marketing manager’s training allows her to join many types of organizations. Some start their own business, consult, or manage various kinds of firms. They are also prepared for many leadership positions in the field of marketing. Some programs include internship opportunities with popular retailers like:
- CVS,
- Home Depot, and
- Mattress Firm.
MBA graduates from top business & marketing programs will have lots of job opportunities to pursue.
Average MBA Salary – $94,519
Online MBA in General Business
Deciding to pursue an Online MBA means choosing a general or specialized route. Both directions offer distinct advantages. It depends on what business students hope to do. A general MBA program won’t always direct learners toward a specific industry or profession. Graduate students need to be proactive about exploring opportunities before completing the program. Most traditional MBA students enroll on a full-time basis and take two years to graduate. It may lead to fewer opportunities to gain valuable professional experience.
Online students enjoy the flexibility and convenience of setting their course schedules. Online MBA in General Business students gain a broad base of knowledge in management. They learn the basics across all concentrations and develop skills in every industry. Along with business and management experience, General MBAs focus on:
- honing leadership,
- critical thinking,
- business operations,
- Human Resources,
- business analytics skills,
- communication, and
- creativity skills.
Applying to a General Business Online MBA doesn’t rely on professional experience. Most applicants take the GMAT while assembling a compelling application.
Average MBA Salary – $89,041
Online MBA in Management
An Online MBA program in Management is a graduate degree program with a defined focus on business management. These business degrees help students. They gain the knowledge and skills. They work in organizations’ management, executive, and supervisory positions.
A noteworthy difference between an MBA in Management and a General MBA is the curriculum. Both programs incorporate case studies, lectures, and teamwork. Traditional MBA programs feature a broad-based education. Fnance, accounting and human resource management are examples. An Online MBA in Management has more of a management emphasis. Courses address finance, management, accounting, and human resources from a manager’s perspective.
Many business schools offer Online MBA concentrations in Management programs. When deciding on a program, check significant factors. The b-school should be a good match for its applicants. They should look for reputable academics, promising career prospects, and networking potential. The price of tuition should also be attractive. Accreditation is important. It helps to ensure graduate students get a quality education.
Average MBA Salary – $87,781
Online MBA in Supply Chain Management
Do you wander into a convenience store and think about what it takes to get products on the shelves? Do you wonder why a new retailer chose a specific location? You may have an appreciation for the complex world of manufacturing and distribution. You may also make a capable supply chain manager. Supply chain management efforts coordinate a store’s offerings.
Supply chain management is one of the highest paying MBA concentrations. It is the multidisciplinary aspect of business. It deals with planning for a project’s creation and sourcing. Logistical support deals with raw materials and production methods. These professionals oversee the distribution of created products and risk control. An Online MBA in Supply Chain Management helps business leaders. They learn how to manage every supply chain sector.
Average MBA Salary – $86,421
Action Plans
Pursuing a business administration degree is a crucial decision for a business leader. It offers a satisfying and lucrative career in business. Here is a plan of action when considering an Online MBA concentration:
Count the Cost
Check your current standing in education and future career goals. Do you have the time and access to resources to pursue an advanced business degree like an online Master’s of Business Administration? These distance degrees are flexible. Find out before assuming how expensive or time-constraining an advanced degree is.
Know Yourself
Taking stock in professional and personal strengths and weaknesses can produce positive results. Books you read and productive conversations with mentors help. Courses selected within an advanced degree like an online MBA can helpful. Being honest with yourself about leadership development is key. It will help you to know which concentration within a business degree is best.
Get Online and Research
Set some healthy parameters for where you’d like to go in your professional and academic career. Then it is time to contact business schools. These higher learning staff career experts can give you all the information you need. You can make the wise choice of applying to a program.
Excellent online MBA programs and concentrations exist in every well-accredited business school in the nation. Now is the time to find one.
Related Resources:
Guide to an Economics Online MBA
Top Online MBA Programs
Best Online Entrepreneurship MBA Programs
