Man’s instinct dictates a natural aversion of being at the bottom of any system. But it takes a great deal of courage and cunning to remove oneself from unwanted situations. If you want to advance your career to alter your current circumstances, getting an MBA is one sure way to open doors to many opportunities.
A Master’s in Business Administration degree is considered a top achievement and a form of distinction for any business professional, bringing about not only personal prominence, but lucrative earning prospects as well. For those who want to earn an MBA, it is necessary to know the business specialization or concentration that you should pursue. The prospective earning potentials of different MBA concentrations are extensive, and each concentration has an equivalent prospective pay scale rank. According to a PayScale’s College Salary Report, different MBA concentrations offer varying salaries.
Many students go for the tried-and-tested concentrations, such as management, accounting, marketing, and finance, and are unaware that there are other equally exciting and fulfilling prospects that they could pursue. Maryville’s online marketing MBA, along with many other reputable educational institutions in the United States offer a wide range of these specializations. When choosing an MBA specialization, be aware of all the business fields you can focus on, or the prospective career positions you can pursue with a specific specialization.
Four MBA concentrations guaranteed to provide lucrative future earnings according to PayScale’s College Salary Report include:
|Rank||Concentration||Degree Type||Early Career Pay||Mid-Career Pay||% High Meaning|
|2||General & Strategic Management||MBA||$85,200||$146,000||53%|
- Strategy – one prime example is the MBA Strategic Operations Management major. This concentration educates students on how to improve organizational performance, and helps them become effective leaders in business.
- General and Strategic Management – this specialization is commonly offered through a Business Management major. A concentration in business management is regarded as the foundation of many lucrative and fulfilling business careers, training students to be effective in the various business fields.
- Entrepreneurship – this is typically a concentration for those who major in Innovation Management / Entrepreneurship. A recent specialization that was born from the recent economic crisis that rocked the global business world, this equips students to effectively tackle economic problems. Learn more about UAB’s online MBA degree and this concentration.
- Finance – a concentration in Finance remains a consistent field for MBA graduates who want to train to be financial research analysts, portfolio managers, credit risk management analysts, and personal financial advisors.