If you’re thinking of getting a graduate degree in order to increase your income, now’s a great time. After all, with so many people working remotely and not having to commute to work, you likely have a lot more time on your hands to dedicate to pursuing a degree part-time in addition to working. For many people interested in earning more, an MBA (also known as a Master’s of Business Administration) is a great option.
Some people think that an MBA is a one-size-fits-all sort of degree, but there are actually a wide range of specializations to consider if you want to get serious about going back to school. If you’re curious about the most lucrative MBA specializations, the following three options should definitely be on your list.
MBA in Finance
Getting your MBA in Finance is one of the highest paying specializations out there, especially depending on the way you intend on applying it to your work. If you’re not afraid of managing other people’s money, particularly clients like businesses or government agencies, an MBA in Finance is the perfect option for you.
As a student pursuing your MBA in finance, you’ll take courses covering a wide range of financial topics, from data analytics and strategic thinking to financial and managerial accounting. These courses will prepare you to work with major companies and help them manage their finances appropriately.
MBA in Entrepreneurship
Entrepreneurship is another MBA specialization that offers high salaries. For anyone interested in launching their own startup or leading a small business, entrepreneurship is the right specialization for you. In business school pursuing your degree in entrepreneurship, you’ll likely study a variety of topics including how to coordinate teams across different departments and the best ways to analyze market trends and sales data.
MBA programs also offer valuable networking opportunities which can really pay off if you’re serious about starting a new business. Whatever your new venture is, from a product to a new service or technology, an MBA in Entrepreneurship is going to serve you well.
MBA in Marketing
Marketing is one hard-core front-end job that is meant for leaders, making anyone with their Master of Business Administration a high-quality candidate in any marketing department. Marketing is a great career field to get into if you value both analytical and creative thinking methods since marketers must rely on data and ingenuity in order to sell customers on different products or services.
In addition to taking courses in marketing research and branding, you’ll also explore aspects of digital marketing and the power of different marketing channels. All of these skillsets will help you make a measurable impact in whichever field you choose to market in. Love the arts? Consider working with a large theatre or art museum in their marketing department. Enjoy the variety of an agency? You can use your MBA in Marketing to lead a team of creatives who help serve a wealth of different clients.
If you feel like you need to get some more detail about any of the MBA specializations listed above or an online MBA program, a website like MBA Central can be a major boon in your business school search. MBA Central offers a wide range of details that can make it much easier to figure out how different careers and schools measure up. You can even search for schools based on whether they offer an online MBA or are in your state.
Ultimately, deciding which Master of Business Administration program is right for you and where you want to pursue your MBA program is a personal choice with a variety of factors. Thanks to websites such as MBA Central, you’ll know that you’re making the right decision, from learning what it takes to be a successful applicant to reading up on rankings and thoughts from the people who might be your classmates.