Every MBA aspirant must be aware of the expected salary. If you are preparing to enrol yourself into an MBA degree and aren’t sure if it’s worth the time and money then rethink your decision.
Surely, the management programs are a dream for managers. And, if you’re receiving it from the Top, B-school then it can be a bonus in the resume. Moving forward, you should know what you are looking for. You must be aware of the industry you are attempting to enter after the course. Firstly, analyse the salary packages offered to the previous students and the pattern of placement before you step in.
Considering a similar situation, you must be aware if the financial odds are working in your favour. The average tuition cost of business schools in the United States stands at $110,000 in 2017. The jump was almost 10,000$ more than 2015’s salary. Furthermore, more than half of the employers are planning to raise the initial payscale of the salary as per the rate of inflation.
While pursuing an MBA program, always try to focus on data analytics and how they are driving success in any business. While hiring MBAs, the corporate recruiters emphasize the importance of previous work history. Also, they put importance on excellent communication skills. It enhances the proven facility attached to the quantitative and technical side of the business.
Every human resource manager works well to inspire the employees. They oversee the recruitments, hiring formalities, and interviewing of potential employees. HR also manages employee-focused and regulatory compliance services like benefits and training. The department’s resources can be effective in restructuring the organization according to the budgetary needs. The HR field can help the manager in specializing in benefits and compensation for recruiting and training. The role of HR requires a person to have problem-solving and diplomatic skills to manage workplace conflicts.
The average salary of a human resource manager is 113,300$.
For the sales manager, whether they work in a small office or a big global office of any company, they tend to play a crucial role in moving the services and goods from the business to the consumer. Their role requires setting up sales goals, reports, and monitoring the results while adapting new means accordingly. Additionally, the sales manager looks ahead to work closely with various account representatives, training, advising, and hiring people based on their performances. Technology plays a vital role in any sales manager’s life. From operating the business intelligence software to other project management tools, these professionals look ahead to monitor the metrics that can break or make the sales team. Social intelligence and communication skills are the two attributes required for being a successful sales manager.
The average salary of a sales manager is 124,220$.
Financial managers are very much known to take care of the financial health of any organization, Their key role is to monitor business performance in various verticals, Being business navigators, they are allowed to plan for investments and the other long-term strategy for your business. The financial managers tend to coordinate and also direct various budgeting and planning activities for their enterprises. They manage technical tools like accounting software and ERP tools. They manage a team of employees who are responsible for regular accounting roles like billing, collections, payroll, and reporting. Moreover, they need to be proficient in problem-solving skills and refine the facility for planning potential roadblocking events to financial success. The average salary of a financial manager is 127,990$.
The demand for IT managers is growing every year and is expected to grow by 12% until 2026. The IT executive managers and directors lead all IT-related activities in the companies. They are known to be involved in planning, hardware purchaser. Also, they are one of the essential ingredients of a desktop support team. At the strategic level, they can consult with executives for setting up business goals and computer system designs to support them. Sharpening problem-solving and analysis skills, IT is more focused on network security and computer maintenance. They recommend upgrades, analyze various technical needs, and conduct analysis for upcoming projects.
The average salary of an IT manager is 142,530$.
To conclude, MBA holders are the best fit for the role of chief information officer. They work for setting up the technology strategy for any organization. The salary structure of the MBA holders depends upon the employers and their company policies. The next important factors in deciding the salary structure are the geographical location and state policies. Some enterprises have a globalized pay scale. However, others have salary policies based on the city and living cost. Before getting employed, knowing about the salary structure of the company is very crucial for potential employees. So, do glace through the salary policies before you make your final commitment.