It wasn’t that long ago that high school students knew going to college way the key to making more money on the job, but many of the highest paying jobs available today now go to those with a master’s degree. Going to graduate school can significantly increase the amount that you earn, and depending on the field that you study, you can usually earn your degree in between 18 months and two years. Before you send off applications to graduate schools, you may want to look at the 10 highest paying business jobs for master’s degree grads to see which jobs require the skills you have.
Accounting majors have two different options, because many colleges now offer a 4 + 1 program. This program lets you earn a Bachelor’s in Accounting in four years, but you’ll begin taking graduate courses as an undergrad, which lets you finish your master’s degree in just one extra year of study. Many states require that you have a master’s degree before sitting for the Certified Public Accountant exam too. Finishing your accounting master’s can also help you seek work as an auditor. According to the Bureau of Labor Statistics, the median salary for auditors and accountants is around $68,000 a year.
2. Business Administration
Business administration is a term that refers to all the administrators working on the job today. These men and women generally handle the daily operations of a company, which often means attending multiple meetings with different departments and ensuring that all departments have the same information. They may work with the annual budget to ensure that the company does not go over budget and work in the human resources department to hire and train all new workers. Other duties that business administrators handle include appointing supervisors and putting others in charge, negotiating salaries and contracts with new and current employees and implementing new programs.
With a master’s degree in finance, you might go to work for a consulting firm or a bank. Positions in this field include analysts, estimators and examiners. As a financial examiner, you might look at a company’s financial records to find signs of fraud or to identify other problems like an employee embezzling from the company. Estimators will take the guidelines that a company or employer gives them to estimate the cost of a project. Financial analysts are the ones who look at market conditions and determine what will happen in the future. You might work as a loan officer or as a supervisor in a financial institution too.
4. Information Systems
Do you have a passion for new technology and want to share that interest with others? Working in information systems puts you on the forefront of the tech world. While you might work for a start up that designs and develops new apps for smartphones, you can also work for a company that develops new cable television packages, a business that offers internet services or an organization that designs products for the mass market. Some information systems tech specialists even work for consulting firms that help companies decide on the best tech for their offices.
5. International Business
Not all business jobs require that you work in the same office or location day in and day out. If you love working in new and emerging markets, you might look for a job in the international business field. Though you might assume that you’ll fly off to exotic destinations every week or month, you’ll spend most of your time chatting with companies over the phone or online. Many of the positions in this field will require that you have a strong understanding of and a familiarity with a second language though.
6. Marketing and Management
Use your skills and knowledge of advertising methods to work in marketing and management as a marketing manager. These managers are the ones who create entire ad campaigns before a company release a new product, a new business opens or a manufacturer decides to change the packaging of a popular product. In addition to overseeing departments and individuals, you’ll also meet with clients to go over their needs and hold focus groups to see what and how the general public thinks. The median salary for managers working in the marketing industry is more than $120,000 a year, according to the Bureau of Labor Statistics.
7. Project Management
Working as a project manager means that you are the one responsible for a larger project. You might work with a client to establish a partnership that will benefit both sides, which will mean attending meetings with those clients and sharing information across departments. Project managers can also work on redesigning a package or renovating a building. The average salary across all project managers is around $91,000 a year, according to GlassDoor.
8. Supply Chain Management
Supply chain managers must understand all the steps in the supply chain, which include the companies and individuals who make the ingredients or components as well as the trucks that take the finished products to stores. The average salary for those working in this field is around $92,000 a year. You’ll often find that you need to spend a lot of time working in the field and working with people who come from different backgrounds.
One of the highest paying jobs in the taxation industry is that of a tax manager. These managers usually file taxes for large companies and corporations rather than individuals. They ensure that the companies comply with all tax laws, that they take out the right amount of money from employees’ paychecks and that they pay any taxes owed to the government. The average salary for a tax manager is around $115,000 a year, according to Salary.
10. Technology Management
Technology managers oversee any project that relates to new or existing forms of technology. This can include upgrading the existing internet connections in the office, connecting all computers that workers use to a shared network and finding the best tech products that sales reps and others can use in the field. Tech managers are usually responsible for the general internet security of the company too and for creating firewalls and setting up other protective system features.
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Going to graduate school or business school is one of the best ways to improve your future career outlook and to increase your annual earnings. The 10 highest paying business jobs for master’s degree grads include positions working for Fortune 500 companies as well as smaller companies and even nonprofit organizations.