What is the Potential Average MBA Salary?

Individuals who earn an MBA degree can be found in many different occupations, among these are accounting, financial services, marketing, human resources, and consulting.  Each of these occupations requires professionals to have a basic understanding of business theory and application, and then concentrated skills in their particular occupation.  While an advanced degree is not always necessary for entry into one of these fields, an MBA might help professionals develop important skills that might help them take their career to the next level.  If you are considering earning an MBA degree it is important to carefully consider the area of business that you wish to concentrate your studies on so you can develop specific skills that my help enhance your knowledge in the field that you are interested in pursuing future career opportunities in. The data below provides a snap shot of a potential average MBA salary and employment profile of some careers that are commonly pursued by business professionals to help you make decisions about which MBA concentration may be right for you.

Accounting Manager

mba salary for accounting

According to the Bureau of Labor Statistics there were 1,187,310 accountants employed in the United States in 2014[i].

The daily activities of an accountant might include:

  • Reviewing financial statements for accuracy and compliance with state, local, and federal tax law
  • Calculating personal or corporate tax returns
  • Reviewing bookkeeping processes for accuracy and compliance with accounting best practices
  • Maintaining financial records
  • Making recommendations to improve an organizations financial operations
  • Reviewing an organizations financial practices to identify opportunities to enhance revenue, reduce cost, and improve profits

Accountant Occupation Profile[i]

Percent of Industry Employment and Actual Employment Numbers for Accountants Working in Select Industries (2014)
Industry Percent Employed (2014) Number Employed (2014)
Accounting, Tax Preparation, Bookkeeping, and Payroll Services 36.58% 326,720
Management of Companies and Enterprises 4.12% 90,910
Local Government .79% 42,170

 

Employment of Accountants in Select States (2014)
State Number of Accountants Employed (2014)
Number of Accountants Employed in California 144,240
Number of Accountants Employed in Texas 106,460
Number of Accountants Employed in New York 97,620
Number of Accountants Employed in Florida 72,900
Number of Accountants Employed in Pennsylvania 54,350

 

Accountants Salary Information in Top Paying States for Accountants (2014)
State Salary of the Bottom 10% of Earners  Mean Annual Wage  Salary of the Top 10% of Earners
Accountant Salary in Washington DC $51,280 $90,220 $138,130

Accountant Salary in New York

$46,230 $89,850 $149,350
Accountant Salary in New Jersey $50,290 $84,160 $125,270
Accountant Salary in Maryland $43,120 $80,360 $124,700
Accountant Salary in Massachusetts $48,280 $80,030 $121,080

Financial Manager

mba salary in finance

According to the Bureau of Labor Statistics there were 518,030 financial managers employed in the United States in 2014[ii].

The daily activities of a financial manager might include:

  • Preparing financial statements and forecasts
  • Ensuring that an organizations financial activities align with state, local, and federal law
  • Oversee personnel responsible for financial reporting and budgeting
  • Examine financial reports and make recommendations to reduce costs or enhance profits
  • Identify new financial opportunities for the organization
  • Advise other managers in making business decisions

Financial Manager Occupation Profile[ii]

Percent of Industry Employment and Actual Employment Numbers for Financial Managers Working in Select Industries (2014)
Industry Percent Employed (2014) Number Employed (2014)
Depository Credit Intermediation 4.69% 79,020
Management of Companies and Enterprises 2.98% 65,830
Accounting, Tax Preparation, Bookkeeping, and Payroll Services 2.58% 23,000

 

Employment of Financial Managers in Select States (2014)
State Number of Fiancial Managers Employed (2014)
Number of Financial Managers Employed in California 73,700
Number of Financial Managers Employed in New York 37,940
Number of Financial Managers Employed in Illinois 30,360
Number of Financial Managers Employed in Texas 27,690
Number of Fiancial Managers Employed in Massachusetts 23,310

 

Financial Manager Salary Information in Top Paying States for Financial Managers (2014)
State Salary of the Bottom 10% of Earners  Mean Annual Wage  Salary of the Top 10% of Earners
Financial Manager Salary in New York $80,150 $175,020 N/A

Financial Manager Salary in Delaware

$93,900 $156,640 N/A
Financial Manager Salary in New Jersey $86,410 $154,130 N/A
Financial Manager Salary in Colorado $77,770 $146,320 N/A
Financial Manager Salary in California $71,510 $144,670 N/A

Marketing Manager

mba marketing salary chart

According to the Bureau of Labor Statistics there were 184,490 marketing managers employed in the United States in 2014[iii].

The daily activities of a marketing manager might include:

  • Preparing marketing budgets
  • Planning advertising and promotional campaigns
  • Negotiating contracts
  • Overseeing market research studies and analysis
  • Developing pricing strategies
  • Overseeing the activities of other marketing professionals

Marketing Manager Occupation Profile[iii]

Percent of Industry Employment and Actual Employment Numbers for Marketing Managers Working in Select Industries (2014)
Industry Percent Employed (2014) Number Employed (2014)
Management of Companies and Enterprises 1.51% 33,330
Computer Systems Design and Related Services .62% 10,870
Insurance Carriers .48% 5,600

 

Employment of Marketing Managers in Select States (2014)
State Number of Marketing Managers Employed (2014)
Number of Marketing Managers Employed in California 32,520
Number of Marketing Managers Employed in New York 12,390
Number of Marketing Managers Employed in New Jersey 10,730
Number of Marketing Managers Employed in Illinois 10,670
Number of Marketing Managers Employed in Texas 9,560

 

Financial Manager Salary Information in Top Paying States for Marketing Managers (2014)
State Salary of the Bottom 10% of Earners  Mean Annual Wage  Salary of the Top 10% of Earners
Marketing Manager Salary in New York $90,470 $177,090 N/A

Marketing Manager Salary in New Jersey

$88,420 $159,320 N/A
Marketing Manager Salary in California $76,900 $155,810 N/A
Marketing Manager Salary in Pennsylvania $77,770 $155,810 N/A
Marketing Manager Salary in District of Columbia $77,100 $152,840 N/A

Human Resources Manager

mba human resources salary chart

According to the Bureau of Labor Statistics there were 116,610 marketing managers employed in the United States in 2014[iv].

The daily activities of a human resources manager might include:

  • Workforce planning
  • Facilitating communication between top management and other personnel
  • Administering employee services
  • Advising on company policies
  • Mediating staff issues
  • Oveseeing new employee acquisition and ongoing training

Human Resources Manager Occupation Profile[iv]

Percent of Industry Employment and Actual Employment Numbers for Human Resources Managers Working in Select Industries (2014)
Industry Percent Employed (2014) Number Employed (2014)
Management of Companies and Enterprises .82% 18,200
Local Government .15% 7,790
Insurance Carriers .09% 4,510

 

Employment of Marketing Managers in Select States (2014)
State Number of Marketing Managers Employed (2014)
Number of Human Resources Managers Employed in California 15,300
Number of Human Resources Managers Employed in New York 9,510
Number of Human Resources Managers Employed in Illinois 6,780
Number of Human Resources Managers Employed in Texas 6,640
Number of Human Resources Managers Employed in Ohio 4,230

 

Human Resources Manager Salary Information in Top Paying States for Marketing Managers (2014)
State Salary of the Bottom 10% of Earners  Mean Annual Wage  Salary of the Top 10% of Earners
Human Resources Managers Salary in New Jersey $84,450 $144,280 N/A

Human Resources Managers Salary in District of Columbia

$89,240 $140,070 $182,150
Human Resources Managers Salary in Delaware $81,370 $136,250 N/A
Human Resources Managers Salary in New York $73,180 $135,370 N/A
Human Resources Managers Salary in Colorado $80,580 $133,740 N/A

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Salary information collected from The Bureau of Labor Statistics Occupational Employment Statistics. The salary information provided does not include statistics related to the median earnings of individuals at different degree levels; rather it is reflective of individuals of all degree levels working in specific occupational sectors.

References:

[i] bls.gov/oes/current/oes132011.htm | [ii] bls.gov/oes/current/oes113031.htm | [iii] bls.gov/oes/current/oes112021.htm | [iv] bls.gov/oes/current/oes113121.htm