An MBA is sure to open doors. 84% of business master’s and MBA graduates say that the degree helped them to achieve their professional goals, and two-thirds of candidates advance at least one job level after their degree.
Candidates can find exciting MBA job opportunities in everything from sales to marketing and finance. However, some industries pay particular attention to MBA graduates.
The Big Three consulting firms—McKinsey, Bain, and BCG—top the list of biggest MBA employers, alongside companies like Amazon, Microsoft, and JP Morgan.
So, what are the top jobs that require an MBA?
For all these positions, an MBA is either a requirement (most often in the US) or will give you an obvious competitive advantage against other candidates.
6. Investment Banker
The financial services sector is popular with MBAs, and this is especially true for investment banking. In this field, you’ll assist clients with their investments, providing advice in the case of mergers and acquisitions and risk management.
Companies often prefer MBAs for investment banking roles as they have a broad knowledge of both finance and management, as well as valuable critical thinking skills. For example, both Morgan Stanley and Bank of America require that applicants for their investment banking associate positions have an MBA.
5. HR Manager
MBA graduates often take high-level management roles after finishing their degree. This is even more pronounced in candidates who previously only had entry-level roles—more than 85% of these candidates move up the management ladder after graduating.
An HR manager is a popular MBA job because it combines both conventional MBA knowledge with soft skills in communication and analysis that grads acquire during their studies. Companies also look favorably on MBA graduates for this position. Microsoft requires that candidates for their HR Privacy Manager role have an MBA.
4. Financial Analyst
Finance will continue to be one of the most popular industries for MBA grads as technology opens up new opportunities. This includes roles in areas such as fintech as well as in data and financial analysis. As an analyst, you’ll evaluate data to make decisions on investments or risks, at both global banks and large companies.
Senior financial analyst roles frequently require an MBA, especially in the US. Major companies like Boeing, PepsiCo, and Siemens state in their job descriptions that applicants with an MBA will be preferred over others. Similarly, Amazon states an MBA as one of its key job requirements for more senior financial analyst jobs.
3. Chief Marketing Officer
Operating at the very top of a company, a Chief Marketing Officer will make major decisions about marketing strategy. They will evaluate sales and profits, negotiate contracts, and oversee the marketing budget.
As with any high-level role, an MBA is frequently preferred, both in the UK and the US, while some companies consider it a requirement. Companies that prefer candidates to have an MBA for CMO positions include investment bank Citi and Ford Motor Company.
2. Product Manager
A product manager is a varied role that combines knowledge of sales, finance, and marketing. As such, MBA graduates are frequently hired in senior product management roles, and their responsibility is to oversee how a company’s product is meeting customer needs and expectations.
Just one company that prioritizes MBA grads for these kinds of roles is Apple, which states that an MBA is 'a plus' on product manager job descriptions. Amazon has plans to increase MBA hiring in 2022.
1. Management Consultant
Management consulting is one of the most popular pathways for MBA graduates. The Big Three consulting firms in the US hire thousands of MBA graduates every year, and one-third of incoming hires at McKinsey has an MBA. These companies also run summer internships specifically for MBAs that could lead to a full-time job afterward.
Associates and consultants at all the Big Three consulting firms will often require an MBA. McKinsey, for example, asks that their associates have an ‘advanced graduate degree’ alongside 5+ years of work experience.
McKinsey, Bain, and BCG plan to increase MBA consultant salaries in 2022.