A Master of Business Administration (MBA) is a graduate degree that will help you qualify for a wide range of high-paying careers in business management. In the United States, workers with an MBA earn an average starting salary of $125,000 — nearly double the average salary of all occupations ($65,470).
Of course, it’s important to remember that not all MBA concentrations lead to the same salary. To help you get the most out of your education, we’ve reviewed the highest-paying MBA concentrations and their associated careers below. We also spoke with Blanca Villagomez, a program coordinator and counselor at UC-Irvine, for her insight into what students should consider when selecting an MBA program.
Calculating Return on Investment for an MBA
Before enrolling in an MBA program, it’s important to understand the benefits and risks of earning such a degree.
According to a 2023 report from the Foundation for Research on Equal Opportunity (FREOPP), the median return on investment (ROI) for an MBA degree is $101,000. Additionally, 39% of individuals who earn an MBA see a negative ROI.
“One reason for this poor performance is that MBA students typically have high preexisting earnings potential, having often chosen high-ROI undergraduate majors such as finance and economics, so the MBA adds little value on top of that,” says the report.
Students must also be mindful of the investment part of the return on investment when deciding how much they want to pay for their MBA. According to the Education Data Initiative, the average cost of an MBA degree is $56,850, although the overall price can vary widely based on the type of institution a student attends. Because students must have a bachelor’s degree to qualify for most MBA programs, this cost is in addition to whatever students spend on their undergraduate degree. Therefore, even if students enter a high-paying field, if they’ve spent or borrowed hundreds of thousands of dollars to pay for their post-secondary education, seeing a positive ROI can be more challenging.
Villagomez also reminds students that investing in education isn’t just about money; the time and energy students devote to it are also important. “It’s not enough to simply attend classes,” she says. Students must also actively pursue opportunities to develop skills and knowledge outside of the classroom in order to stand out to employers in the competitive job market. It’s also crucial for students to recognize that building a successful career takes time and that financial gain is not always linear.”
The Highest-Paying Jobs You Can Get With an MBA
Our ranking criteria
We used the Bureau of Labor Statistics data to create this list of the highest-paying MBA concentrations. We reviewed employment data, including median salaries, job growth potential, and the highest-paying states for different occupations. We gathered the most lucrative jobs for MBA holders and found the top programs in the country for each profession to help you start planning your education.
1. Computer/Information Systems Manager
Median Salary: $169,510
What They Do: Computer and information systems managers, also known as information technology (IT) managers, help organizations maintain and improve their hardware and software systems. Their responsibilities may include assessing an organization’s IT needs, recommending upgrades, installing new hardware and software, maintaining cybersecurity, and managing the IT budget. They often direct the work of other IT professionals, including network engineers, security analysts, and help desk representatives.
How to Become One: You’ll need to earn a bachelor’s degree before enrolling in an MBA program. For this career path, it’s best to earn your bachelor’s in computer science, software engineering, or a related field. This background allows you to gain a deep understanding of computer technology. Then your MBA in computer/information systems program can teach you about concepts such as leadership, accounting, and IT project management.
- Projected Job Growth, 2022-2032: 15%
- Highest-Paying States: California, New York, Washington, New Jersey, Delaware
Top Academic Programs for Computer and Information Systems Managers:
| School | Tuition | # Credits to Graduate |
| NJIT Martin Tuchman School of Management | $1,112 – $1,713 | 36 |
| Mississippi College | $750 | 30 |
| Concordia University Wisconsin | $725 | 36 |
2. Architectural/Engineering Manager
Median Salary: $165,370
What They Do: Architectural and engineering managers oversee various activities, including the construction of new buildings and repairs and upgrades to public infrastructure. In addition to hiring, directing, and evaluating teams of architects and engineers, their work may involve drafting designs, planning budgets, and negotiating with vendors on the price of equipment and supplies.
How to Become One: This occupation typically requires an undergraduate degree in architecture or engineering and several years of experience in the field. Earning an MBA on top of these credentials will make you especially well-prepared for a management role.
- Projected Job Growth, 2022-2032: 4%
- Highest-Paying States: New Mexico, California, Colorado, Rhode Island, Washington
Top Academic Programs for Architectural and Engineering Managers:
| School | Tuition | # Credits to Graduate |
| University of Notre Dame | $2,223 | 69 |
| Lehigh University | $1,590 | 45 |
| Texas A&M University | Resident: $738 Non-Resident: $1,269 |
45 |
3. Natural Sciences Manager
Median Salary: $157,740
What They Do: Natural sciences managers oversee research projects in chemistry, biology, and physics. Their responsibilities include collaborating with executives to establish research goals and objectives, reviewing research methods and results, and developing reports and presentations to share their findings with others. They also hire and train scientists and technicians as needed. In addition to directing publicly funded research for government agencies, private companies often employ natural sciences managers to help create, test, and improve products. With the growing concern over the effects of climate change, there is now exceptionally high demand for managers of energy efficiency and sustainability research projects.
How to Become One: You will likely need an undergraduate STEM degree and several years of experience working as a scientist to get hired as a natural sciences manager. Also, an MBA with a concentration in managing science projects will help you access more job opportunities and earn a higher salary, especially in the private sector.
- Projected Job Growth, 2022-2032: 5%
- Highest-Paying States: Massachusetts, California, New Jersey, Connecticut, Washington
Top Academic Programs for Natural Sciences Managers:
| School | Tuition | # Credits to Graduate |
| Southeast Missouri State University | Resident: $382 Non-Resident: $690 |
33 |
| San Francisco State University | Resident: $669 Non-Resident: $705 |
48 |
| University of Houston-Clear Lake | Resident: $497 Non-Resident: $1,031 |
36 |
4. Marketing Manager
Median Salary: $157,620
What They Do: Marketing managers oversee the marketing departments for commercial and nonprofit organizations. They develop pricing strategies, identify markets for products and services, analyze competitors, and supervise the implementation of new marketing strategies. Marketing managers work closely with sales, product development, and public relations employees to develop marketing and advertising plans to help their organization maximize its profits and market share.
How to Become One: Marketing managers usually need at least a bachelor’s degree, and you will likely need a master’s to stand out from other applicants. In an MBA in marketing program, you should expect to take classes in consumer behavior, market research, and similar subjects. Most marketing managers have a background in advertising, sales, or marketing. To gain this experience, students working toward their degree often pursue marketing internships at advertising and marketing firms.
- Projected Job Growth, 2022-2032: 7%
- Highest-Paying States: California, New York, New Jersey, Delaware, Colorado
Top Academic Programs for Marketing Managers:
| School | Tuition | # Credits to Graduate |
| The University of Chicago Booth School of Business | $2,448 | 45-48 |
| Baylor University | $2,421 | 42 |
| Emory University’s Goizueta Business School | $2,349 | 63 |
5. Financial Manager
Median Salary: $156,100
What They Do: Financial managers work to improve and maintain the financial health of organizations. They have many responsibilities, including preparing financial statements and forecasts, analyzing financial data, ensuring legal compliance, identifying ways to cut costs, finding expansion opportunities, and helping executives make major financial decisions. Their roles are often advisory, and they must have extensive knowledge of tax laws and financial regulations. Larger organizations may divide these responsibilities between different types of financial managers, including risk managers, credit managers, and cash managers.
How to Become One: Financial managers often have a bachelor’s degree or an MBA in finance, business, or economics. They are also often required to have extensive experience (5+ years) in another financial occupation, such as accounting or financial analysis. In addition to your degree, you may consider pursuing professional certifications to build your competency as a financial manager. Standard industry certifications include the Certified Government Financial Manager (CGFM) for financial managers who work in government and the Chartered Financial Analyst (CFA) certification for investment professionals.
- Projected Job Growth, 2022-2032: 16%
- Highest-Paying States: New York, New Jersey, California, Delaware, Massachusetts
Top Academic Programs for Financial Managers:
| School | Tuition | # Credits to Graduate |
| University of California – Berkeley | $3,819 | 51 |
| Carnegie Mellon University | $2,612 | 64 |
| The University of Chicago Booth School of Business | $2,313 | 70 |
6. Compensation and Benefits Manager
Median Salary: $136,380
What They Do: Compensation and benefits managers collaborate with other senior staff, such as human resources managers and financial managers, to determine an organization’s wage and benefits structure. They also evaluate and select third-party vendors like insurance brokers and investment managers. At smaller organizations, the same manager may be responsible for compensation and benefits, while larger organizations usually have separate managers for each function.
How to Become One: An MBA program concentrating on compensation and benefits, human resources, or finance will prepare you for this role. In addition to your education, you will likely need several years of experience working as a compensation and benefits specialist to become qualified for a management position.Â
- Projected Job Growth, 2022-2032: 2%
- Highest-Paying States: New York, New Jersey, Washington, Connecticut, Massachusetts
Top Academic Programs for Compensation and Benefits Managers:
| School | Tuition | # Credits to Graduate |
| St. Thomas University | $625 | 36 |
| LSU Online | $479 | 30 |
| Pittsburg State University | $399 | 30 |
7. Purchasing Manager
Median Salary: $136,380
What They Do: Purchasing managers are responsible for making purchases on behalf of their employers. They direct buyers and purchasing agents to find suppliers, negotiate contracts, and evaluate the quality of goods and services upon delivery.They are alsoe often tasked with writing procurement policies for their employers and investigating potential conflicts of interest between purchasing agents and suppliers.
How to Become One: An MBA with a concentration in procurement or supply chain management is the ideal education for this role. It also helps to have some direct experience working with the types of products or services you will be purchasing for your employer.
- Projected Job Growth, 2022-2032: 4%
- Highest-Paying States: New Jersey, New York, Colorado, Massachusetts, District of Columbia
Top Academic Programs for Purchasing Managers:
| School | Tuition | # Credits to Graduate |
| Southern New Hampshire University | $637 | 39 |
| Saint Leo University | $670 – $845 | 36 |
| Liberty University | $565 – $615 | 45 |
8. Human Resources Manager
Median Salary: $136,350
What They Do: Human resources managers are responsible for planning and coordinating the administrative functions of organizations, including tasks like recruiting, interviewing, onboarding, resolving workplace disputes, advising managers on HR issues, establishing and overseeing disciplinary procedures, and coordinating teams. They are essential in maintaining a positive and productive workplace culture. Depending on the organization’s size, they may also manage their company’s compensation and benefits programs and training programs. They may also be involved in strategic planning.
How to Become One: To become a human resources manager, several years of work experience as a human resources specialist are needed, in addition to a bachelor’s degree or an MBA in human resources. While a bachelor’s degree will often suffice for entry-level and higher-level positions at smaller organizations, many larger organizations prioritize MBA applicants. Aspiring HR managers should also consider pursuing relevant certifications from professional associations, such as the Society for Human Resource Management (SHRM), the International Foundation of Employee Benefit Plans, and the HR Certification Institute (HRCI). These certifications are not typically required but verify your expertise and credibility.
- Projected Job Growth, 2022-2032: 5%
- Highest-Paying States: New York, Washington, Massachusetts, New Jersey, California
Top Academic Programs for Human Resources Managers:
| School | Tuition | # Credits to Graduate |
| Nova Southeastern University | $1,390 | 40-49 |
| University of Wisconsin | $1,688 | 52 |
| Oregon State University | Resident: $893 Non-Resident: $1,595 |
60 |
9. Sales Manager
Median Salary: $135,160
What They Do: Sales managers are responsible for directing sales teams and developing sales strategy. In addition to hiring, training, and evaluating the performance of sales agents, their responsibilities may include managing the sales department budget, approving travel expenses, assigning territories, and setting quotas. A background in customer service is helpful for this role, as sales managers are often tasked with resolving complaints. In larger organizations, they may advance to overseeing regional managers rather than dealing directly with agents.
How to Become One: An MBA with a concentration in sales will cover everything you need to know to succeed in this role, such as developing customer relationships, sales analytics, and leadership skills.
- Projected Job Growth, 2022-2032: 4%
- Highest-Paying States: New York, Delaware, Colorado, New Jersey, Washington
Top Academic Programs for Sales Managers:
| School | Tuition | # Credits to Graduate |
| Ana G. Mendez University | $495 | 42 |
| University of Houston-Downtown | Resident: $511
Non-Resident: $871 |
36 |
| University of Louisiana at Lafayette | $389 | 33 |
10. Public Relations Manager
Median Salary: $134,760
What They Do: Public relations (PR) managers help improve the reputation of their employers. They direct teams of PR specialists to write press releases, respond to media requests, hire spokespeople, book events, and help executives prepare for speeches and interviews. Their work often involves collaborating with marketing staff to develop a communications strategy and with the legal team to ensure the employer cannot be liable for inaccurate messaging.
How to Become One: While only a bachelor’s degree is usually required for this role, an MBA with a concentration in public relations or communications will help you stand out from other candidates, generate more interview callbacks, and advance to higher-paying positions. Indeed, this is the ideal degree for a PR manager position, as you’ll learn about fundamental leadership principles and key PR concepts like strategic communications and crisis management.
- Projected Job Growth, 2022-2032: 6%
- Highest-Paying States: District of Columbia, New York, Virginia, New Jersey, Massachusetts
Top Academic Programs for Public Relations Managers:
| School | Tuition | # Credits to Graduate |
| University of Delaware | $1,069 | 38 |
| University of Mount Union | $695 | 36 |
| Concordia University Wisconsin | $725 | 36 |
Other Factors to Consider When Choosing an MBA Program
Employment outlook
When selecting an MBA concentration, students should consider the employment outlook for their area of interest. Even if a field offers high salaries, if employment is projected to experience limited growth or decline in the future, it may not be a good option, as opportunities will become more limited.
“I recommend that students thoroughly research the job market they’re interested in and pay attention to the projected salaries and available career advancement opportunities for their intended major,” Villagomez says. The Bureau of Labor Statistics (BLS) Occupational Outlook Handbook is a key resource for this, which offers employment projections for hundreds of jobs and career fields.
Location
Although individuals with MBAs can be found everywhere, certain fields, like finance and tech, are concentrated in specific cities or regions, meaning that location can impact available job opportunities.
It can also influence an individual’s earnings. Although salaries are often higher in urban areas where these fields are centered, these locations also typically have a higher cost of living. Students must weigh potential earnings against what it will cost to live in a particular city or region when selecting their MBA path.
Another option for MBAs is remote work, which offers the freedom to live in a more affordable area or move from place to place. This can also impact your choice of MBA concentration, as some jobs are more conducive to remote work than others.
Employability
An MBA may be a highly versatile and desirable degree, but it doesn’t mean it’s required or ideal for every job. Before choosing an MBA concentration, students should research common education requirements for the types of jobs they’re interested in pursuing to determine if an MBA or another type of master’s degree is the best educational path.
“I strongly recommend that students begin by meeting with a college or career counselor to develop an action plan that aligns with their career and educational goals,” Villagomez says. “Working with trained professionals can help alleviate some of the stress and uncertainty that comes with this process.”
Students can also use the BLS’s Occupational Outlook Handbook and job postings on sites like Indeed or ZipRecruiter to learn more about educational requirements for jobs that interest them. Another option is to utilize professional networks to learn more about how others with similar interests and goals worked their way up the professional ladder and if an MBA is a necessary step.
Work-life balance
Employment is only one aspect of life. Before selecting an MBA concentration, it’s important for students to consider what impact their job will have on other areas of life, including relationships, hobbies, and health.
Earning an MBA most often leads to management and executive roles, which can involve long or irregular hours, consistent travel, or stressful working conditions. As you’re contemplating your future, it’s wise to think about what you want your life to look like overall, not just in terms of career and salary. Establish what your priorities are in terms of working hours and location, stress levels, flexibility, and room for personal growth and accomplishments. This can help you determine if a high-paying job is really the right fit for you.
Personal interests and aptitudes
Students who select an MBA concentration based solely on salary potential may find themselves in fields for which they’re not well-suited in terms of personal interests, skill level, natural aptitudes, or personal values and beliefs.
“When students are selecting a major, I encourage them to consider what type of work they find fulfilling and aligns with their values,” Villagomez says. Students can use career guides and aptitude tests to help them gain an understanding of what careers might align with their abilities. They can also explore careers related to academic or extracurricular interests and hobbies.
Professional fulfillment can come in many different forms beyond a high salary, and students should consider what is most important to them before deciding which MBA concentration and career path they want to pursue.
Frequently Asked Questions
What is an MBA degree?
A Master of Business Administration (MBA) is a graduate degree focusing primarily on business administration and management. There are over 1,000 MBA programs available in the United States, and these programs typically take about two years to finish after completing an undergraduate program.
Who should pursue an MBA degree?
Most people who pursue an MBA do so to advance their careers. MBAs are often required for professionals in business to progress into managerial roles. Not only does an MBA open up doors for advancement, but it can also significantly increase your earning potential.
That said, it’s important to remember that MBAs require a significant time commitment that can make it challenging to balance school and work. You may want to consider delaying your MBA program if you’re unsure what field to focus on.
What MBA degree pays the most?
With an average salary of $169,510, computer and information systems is the highest-paying MBA concentration. Architectural and engineering managers also have an average salary above $160,000. It’s important to consider that your salary may depend on where you work — generally, areas with a higher cost of living offer higher salaries.
How much does an MBA degree cost?
Tuition rates can vary significantly depending on the university you attend and the MBA program you choose. According to the National Center for Education Statistics, the average annual cost of graduate school tuition is $12,596 at public universities and $28,017 at private universities.
Students considering an MBA should file the Free Application for Federal Student Aid (FAFSA) and talk to their university’s financial aid department to learn more about their financing options.
Interested in a degree instead?
Learn more about online degrees, their start dates, transferring credits, availability of financial aid, and more by contacting the universities below.