by Interstride
Master of Business Administration degrees or MBAs teach students the skills needed to excel as business executives. They are a popular choice for international students attending graduate school in the US due to their high earning potential. The median starting salary for MBA graduates in the US is $125,000 per year. However, there are many different MBA concentrations, and they do not offer the same earning potential.
What are MBA concentrations and why are they important?
Many MBA programs in the US focus on particular aspects of business in either specializations or concentrations. An MBA concentration allows you to become an expert in a specific niche field or master a highly specialized role. For example, a graduate student may earn an MBA in corporate strategy or an MBA in cybersecurity. However, not all business schools require students to select an MBA concentration.
It’s common for large universities to offer a dozen or more MBA concentrations. With so many options, it can be difficult to determine which is right for you. The best MBA concentration for you is one that matches your interests, strengths, and career goals. The concentration you choose isn’t going to have a huge effect on your earning potential because ultimately you will be graduating with the same degree – an MBA. However, it is important for students who want to narrow their focus and/or build a specific professional network. Reflecting on your goals and interests ahead of time can help you ensure that getting your MBA in the US is worth the cost.
While the exact MBA concentrations offered vary by institution, some common options include:
- Business Analytics
- Entrepreneurship
- Information Technology
- Accounting
- Corporate Strategy
- Consulting
- Finance
- General Management
- International Business
The 5 highest-paying MBA concentrations
While there is no specific data on how much MBA graduates make in different roles versus those who do not have an MBA, research from 2022 shows that MBA graduates receive an $85,000 increase in their annual earnings on average. To help you maximize your earning potential post-MBA, we compiled a list of the highest-paying MBA concentrations including common careers for graduates, average salaries, and some schools that offer that concentration.
Executive leadership
A concentration in executive leadership will prepare you for various chief executive positions such as Chief Executive Officer (CEO) and Chief Financial Officer (CFO). According to the US Bureau of Labor Statistics, the average annual salary for chief executives in 2023 was $258,900, not including bonuses. Some universities that offer an executive leadership MBA are:
- The Wharton School at the University of Pennsylvania
- James Madison University in Harrisburg, Virginia
- The Rutgers Business School in New Jersey
Marketing
For business owners, executives, and managers who want to play an active role in their company’s marketing, an MBA in marketing management may be the right choice. Common jobs for graduates include director of marketing and Chief Marketing Officer (CMO). Salary averages for those in a marketing leadership position with an MBA in management were around $166,410 in 2023. Most of the top MBA programs in the US offer a marketing concentration.
Human resources
An MBA with a human resources (HR) concentration can prepare you for a job in HR management or consulting. You may work as a manager of employee relations or a director of employee experiences. The average annual salary for an HR manager is $154,740. According to the Princeton Review, the top schools for an MBA in human resources are:
- The Kogod School of Business at American University
- The Marriott School of Business at Brigham Young University
- The Isenberg School of Management at the University of Massachusetts
- The Owen Graduate School of Management at Vanderbilt University
Finance
Graduates with an MBA concentration in finance may work as financial managers or directors of finance. Financial managers earn $147,530 per year on average, not including bonuses, making it one of the highest-paying MBA jobs in the US. Finance is a commonly offered MBA concentration in the US. Outside of the top MBA schools, here are some other high-ranking business schools for finance:
- The Carroll School of Management at Boston College
- The Heider College of Business at Creighton University
- The Anderson School of Management at the University of California in Los Angeles
- The Dolan School of Business at Fairfield University
Healthcare management
An MBA in healthcare management combines the fields of business and healthcare to prepare the next generation of leaders in the healthcare industry. A graduate in an MBA program with a healthcare concentration may pursue a job as a pharmaceutical medical director or a medical & health services manager depending on their experience. The average salary for healthcare managers is $134,440 per year. Schools that offer an MBA in healthcare management include:
- Johns Hopkins University
- Florida International University
- Purdue University
- University of North Carolina Wilmington
- University of Delaware
Closing thoughts
Pursuing an MBA in the US is a big decision. The MBA concentration you choose will affect which courses you take in school and how in-depth your classes go into a specific skill or subject. If you are still unsure about what concentration, if any, to focus on, conduct informational interviews with current students or alumni in different concentrations.
Lastly, keep in mind that the business school you choose to attend is more important for your earning potential and job prospects than the concentration you choose. Interstride can help you make these significant and complex decisions. Check out our guide to the top MBA programs for international students. You can also search for scholarships and other types of financial aid available to MBA international students by filtering for MBAs on Interstride’s Scholarships Finder.
