Average MBA Salary Expectations: What You Can Earn by Industry

Professionals considering returning to school for an advanced degree weigh several factors when deciding on their path forward, including work-life balance, time commitment and financial investments. Salary expectations may also top the list. For those pursuing a Master of Business Administration (MBA), the return on investment can be significant. However, the amount you can earn with an MBA can vary significantly depending on the industry you enter after graduation.

Whether you’re exploring career paths, looking to change fields or aiming to advance in your current role, understanding salary outcomes by industry is essential. Top industries emphasize various demands and skills for MBA talent, and compensation typically reflects that. This guide will analyze average MBA salaries by industry, explore key factors that influence earnings and show you how the online MBA program and specializations from the University of West Alabama (UWA) prepare professionals for real-world success.

What Is the Earning Potential of an MBA Degree?

An MBA is a proven career accelerator, expanding your access to jobs, increasing your qualifications and confidence for leadership roles, and equipping you with skills that apply across industries. For professionals seeking to advance their careers, an MBA unlocks opportunities.

Employers recognize the strategic thinking, leadership capability and business acumen an MBA graduate brings to the table, especially when that MBA has a high-demand focus. Degree specializations like data analytics, healthcare administration or international business showcase your expertise and commitment. Many executive-level roles, which come with higher salaries, increased responsibilities and greater long-term growth, prefer or require an MBA from prospective candidates.

Because MBA programs focus on problem-solving, communication and leadership, graduates are prepared to take on challenges in a variety of sectors, from finance to agriculture and everything in between. Employers value this advanced education not only because it equips graduates with industry-specific skills but also because it demonstrates a commitment to hard work and skill development.

What Can You Earn With an MBA Degree?

According to a 2024 report by the Graduate Management Admissions Council (GMAC), the average starting salary for MBA graduates in the U.S. is $120,000, compared to around $70,000 for business bachelor’s degree holders. An investment in advanced learning could lead to a 60% or better increase in baseline earning potential.

An MBA offers one of the strongest ROIs among graduate degrees. Even after accounting for tuition and the potential for reduced income during coursework, MBA graduates recoup their investments within a few years, particularly those who move into high-demand, growing fields. MBA graduates also experience consistent long-term salary growth and stronger job security, increasing their potential to earn leadership and strategic roles.

What Factors Influence MBA Salaries?

While GMAC’s national average paints a promising picture, several factors influence how much you’ll earn with an MBA. Your specific field, the industry you enter and your location are key considerations that determine overall earning potential. Note the following factors:

• Industry: Salaries vary by sector. Finance and consulting roles are typically at the higher end of compensation, while nonprofit and government roles sit at the lower end.
• Location: Major location factors, including cost of living and regional demand, influence potential earnings. MBA salaries in major metro areas, such as New York or San Francisco, tend to be higher than in the Midwest or rural areas.
• Job function: The higher your position, the higher your salary. Roles in the executive suite, financial strategy, or analytics offer higher pay than operations or support positions.
• Experience: Entry-level MBA jobs may start at a lower salary. Professionals with prior work experience or a strong work history can often negotiate higher compensation.
• Specializations: A focus on high-demand areas, such as data analytics, healthcare management or cybersecurity, can lead to higher salary opportunities.

What Is the Average MBA Salary by Job Role?

Specific job titles also have a major impact on salary. Here are a few roles frequently pursued by MBA graduates, along with their national median annual earnings, according to the U.S. Bureau of Labor Statistics (BLS).

Chief Financial Officer (CFO)

• Median salary: $206,420
• CFOs, considered part of the top executive field, are responsible for an organization’s financial health.

Marketing Manager

• Median salary: $157,620
• Marketing managers develop, implement and execute strategies and campaigns to promote a company’s products or services.

Human Resources Manager

• Median salary: $140,030
• HR managers and directors act as a strategic link between management and employees, overseeing human resource policies.

Management Consultant

• Median salary: $101,190
• Management consultants offer objective expertise to improve efficiency and solve complex problems.

Business Analytics Manager

• Median salary: $101,190
• Also referred to as management analysts, business analytics managers lead a team of analysts to interpret data and provide actionable insights.

Operations Manager

• Median salary: $101,280
• A vital role across a variety of sectors, operations managers oversee daily activity with a focus on efficiency and productivity.

Healthcare Administrator

• Median salary: $110,680
• One of the fastest-growing industries in today’s market, healthcare administrators manage healthcare facilities, including hospitals, clinics and nursing homes.

Entry-level MBA roles start around $70,000 with the potential for slightly more, depending on the company and position, per GMAC. Many graduates advance quickly with the foundation an MBA provides, making this starting salary a springboard for career and salary growth.

Inside UWA’s Online MBA Program Concentrations

At UWA, the online MBA program is designed with flexibility, affordability and career readiness in mind. With an online format, students can complete coursework on their own schedule, allowing them to keep their professional and personal lives in balance. With full accreditation by the Accreditation Council for Business Schools and Programs (ACBSP), graduates are backed by a degree they can be proud of.

The accelerated programs can be completed in just over one year, propelling students to the professional future they envisioned. The competitive tuition supports a strong ROI for graduates, making the investment extremely worthwhile. UWA’s MBA online specializations include the following:

• Accounting
• Computer Information Systems
• Cybersecurity
• Data Analytics
• Entrepreneurship
• Finance
• General Business
• Healthcare Administration
• Higher Education Administration
• Human Resource Management
• International Business
• Management
• Marketing
• Rural Business
• Sport Management

Coursework emphasizes real-world business challenges, with a focus on leadership, analytics, strategy and innovation. Whether you’re looking to switch industries or advance in your current field, UWA’s MBA degree options are tailored to support your unique goals.

Start Your MBA Journey With UWA Today

Earning an MBA degree online from UWA can dramatically increase your earning potential, expand your career possibilities and help you develop the leadership skills today’s employers seek. With strong average salaries across industries, an MBA remains one of the most valuable graduate degrees available.

UWA offers an accessible, online MBA degree that fits into your life and aligns with your career ambitions. Whether you’re looking for a higher salary, a new industry or a leadership role, the UWA MBA can help you get there. If you’re ready to invest in your future and take the first steps towards the future you dream of, apply online today to one of UWA’s online MBA options.

Learn more about UWA’s online MBA program.