Anyone considering new career options has probably thought about pay. Job outlook is important as well. Which occupations have the highest growth and how can individuals prepare for those careers?
Take medical and health services managers, for example. According to the U.S. Department of Labor’s Bureau of Labor Statistics (BLS), employment opportunities are projected to grow 20 percent between 2016 and 2026. Compared with the average for all occupations, this is nearly three times faster.
In general, management occupations stand out when it comes to pay and job outlook. And a Master of Business Administration (MBA) can help candidates land these jobs. Northern Kentucky University (NKU) offers an innovative approach to earning an MBA. In addition to essential courses, students select areas of emphasis from “stacks” in finance, leadership and innovation — all keys to successful management.
Why Consider Management Careers?
As part of preparing for positions in management, it is worth examining the job outlook. After all, return on investment (ROI) is a valid metric for evaluating financial decisions. Because an MBA involves a significant investment of time and funds, deciding to earn the degree counts as a key financial decision.
Overall, according to BLS, management occupations will add 807,300 new jobs through 2026. This job growth is being fueled by both new and expanding businesses, driving a need for more professionals with management skills.
As with any occupation, there is variation within the management field in both pay and demand. Following is an overview of just a few management options. (All information is based on BLS data.)
All Management Occupations
- Median annual salary: $102,590.
- Job growth: 8 percent, about average.
- Worth noting: Management occupations have the highest median wage of all major occupational groups.
Advertising, Promotions & Marketing Managers
- Median annual salary: $106,130; top 10 percent more than $208,000.
- Job growth: 10 percent through 2026, faster than average.
- Worth noting: Advertising managers with digital skills may have an edge.
Medical and Health Services Managers
- Median annual salary: $98,350; top 10 percent more than $176,130.
- Job growth: 20 percent through 2026, much faster than average.
- Worth noting: Healthcare leads the way when it comes to job outlook — adding more jobs than any other occupation.
Sales Managers
- Median annual salary: $121,060; top 10 percent more than $208,000.
- Job growth: 7 percent through 2026, about average.
- Worth noting: Top industries include finance and insurance, with median salaries of $152,590.
Computer and Information Systems Managers
- Median annual salary: $139,220; top 10 percent more than $208,000.
- Job growth: 12 percent, faster than average
- Worth noting: Also called information technology (IT) managers. Top industries include information, with median annual salaries of $153,120.
Financial Managers
- Median annual salary: $125,080; top 10 percent more than $208,000.
- Job growth: 19 percent, much faster than average.
- Worth noting: Top industries include technical services, with median salaries of $147,040.
When it comes to landing management positions, an MBA can provide a competitive edge. When it comes to choosing an MBA, the flexibility of an online program can make it possible for students to balance school, work and other commitments, such as family.
With an online MBA such as NKU’s, there is no need to worry about making it to class or sacrificing income. Students can continue working full time while earning their degree. What’s more, students benefit from being able to immediately put their coursework into practice.
Graduate business education resource Poets & Quants notes that an MBA is helpful for those who want to take on senior roles. As important? Experience. Working professionals have the opportunity to aim for both with an online MBA.
Learn more about NKU’s online MBA program.
Sources:
U.S. Bureau of Labor Statistics: Medical and Health Services Managers
U.S. Bureau of Labor Statistics: Management Occupations
Poets & Quants: What Employers Want From MBA Graduates
