What can I expect to earn with a Master’s in Business Management?
Role of an MBM
The roles for MBM (Master’s in Business Management) can typically be divided into two. The first role focuses on managing specialist teams and usually consists of analysts, consultants, or head specialists, who typically have higher annual salaries but lower shares.
The other role concerns long-term planning for a company or organization. This is the role of managers, who arguably earn a lower entry-level salary but enjoy higher bonuses.
Through a profit-sharing reward system, most managers and presidents or department heads receive company shares that typically exceed their annual salary pay.
Salaries You Can Expect
Financial Manager
Specialist team managers differ in terms of salaries and responsibilities. For instance, a Financial Manager earns around $139,790 every year.
Skills in financial analysis, as well as knowledge of governing laws for financial securities and legal compliance, give financial managers a high salary premium.
Because they manage mostly assets and a few people in some cases, a specialized track in Business Management is preferred.
Business Analyst
Another specialist route for Master’s in Business Management graduates is management analysis. Business Analysts earn approximately $82,426 per year. Grasping what executives overlook in a business process, a management analyst can unearth what practices are holding a company back from earning better revenues.
Knowledge of general principles in management, as well as long-term strategy skills, are honed within the graduate school. Shareholders and key business decision-makers expect their business analysts to increase efficiency, especially if the consultant has an MBM degree.
Finance Controller
Another specialist role is the Finance Controller. Earning around $248,800 per year and boasting additional cash compensation through profit-sharing and dividends, these are some well-paid specialists.
An MBM degree helps these finance controllers provide an excellent financial summary report, gather and interpret essential data, and supervise employees in the financial department.
Human Resources Manager
On the management side, a Human Resources Manager earns approximately $117,470 per year. They recruit highly skilled people, ensure a thriving workplace environment, and assist executives and leaders in the business process.
Of course, HR personnel may also need guidance, and HR managers fill that role in the company. An MBM will help convince the company higher-ups that an HR manager applicant is up to the task at hand.
Top Executive
Top business executives, Department heads, and Vice Presidents for business units earn around $246,440 per year but have significantly more cash benefits in the form of dividends, stock options, and profit-sharing programs. These upper management positions deal with critical functions with the end goal of increasing profitability and efficiency.
Before reaching the height of their corporate careers as VPs or department heads, tenured middle managers need to level up their skills to remain effective in their jobs.
An MBM degree helps executives direct the resources of a company to profitable and efficient ventures. As the functions are more largely focused on market prediction, analysis, and direction, executives can leave the day-to-day operations to middle managers with a more generalist disposition.
Summary Points
- Modern-day economics has become more specialized, but a solid foundation of effective principles can still provide a positive impact on a company.
- A Master’s in Business Management degree, which you can obtain online, has the perfect balance of general principles as well as focused interests in studies.
- Companies are looking for more applicants with an MBM and offer high premiums for the right candidates.
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