Are you tech-savvy? A number cruncher? A marketing whiz? The right MBA concentration helps you maximize your skill set and harness your interests, enabling you to step into an impactful, results-driven career. 

This guide will define MBA concentrations and how they impact career outcomes, salaries, and your goals. 

What Are MBA Concentrations?

An MBA, or Master of Business Administration, is a popular graduate degree for those seeking a career path in management or leadership. 

While you can complete a general MBA degree, a concentration or specialization adds another layer of expertise in a specific area of focus. In addition to core courses that cover business and management, you’ll take courses that delve deeper into your concentration. 

A concentration can prepare you for specific industries or departments in a company. For example, you can choose to specialize in health care, finance, management, or marketing. Or, you might specialize in technology or project management. 

The concentration you choose can impact job opportunities, your salary potential, and your career trajectory post-graduation.

Best MBA Concentrations for Career Versatility

Each university may offer a unique selection of MBA concentrations. If you’re considering an MBA, you’ll want to check what is available at each university and apply to schools that offer the area of focus you want to pursue. 

Take some time to explore the possibilities. Some innovative programs go beyond standard concentrations and offer specializations in artificial intelligence, cybersecurity, or sustainability. 

The best MBA concentrations for career versatility include popular and in-demand options such as:

  • Finance: This focus prepares candidates to work in banking, financial management for private companies, accounting, or economics. Some common positions for graduates include Chief Financial Officer (CFO), financial analyst, and financial advisor, among others.
  • Marketing: Dive deep into marketing campaigns, competitor research, or even new product development with a marketing concentration. Graduates may seek roles such as Chief Brand Officer, marketing manager, or consultant. 
  • Business Analytics or Data Science: Experts in business analytics or data science use data and information to solve problems. This concentration prepares you for jobs in a wide variety of departments and industries. Popular job titles include data scientist, research analyst, or working as a consultant. 
  • Health Care Management: Working in health care requires industry-specific knowledge. An MBA in health care management prepares graduates to lead research labs, hospitals, insurance companies, and other health care businesses. 
  • Entrepreneurship: Do you dream of starting your own business? Or perhaps you’re interested in investing in start-ups or bringing the innovative energy of entrepreneurship to your work. Graduates can go on to start their own businesses or work in a managerial position at an existing start-up or larger company. 
  • Supply Chain Management: In today’s global economy, managing supply chains involves complex logistics. Focusing on this area prepares candidates for managerial positions in a wide variety of industries, helping optimize and streamline supply chains. 

Highest Paying MBA Concentrations

Which concentrations lead to high-paying roles? Nearly all MBA graduates enjoy a significant salary boost. However, if you’re looking to maximize your earnings, choosing the right concentration can further enhance your salary potential. 

One of the highest-paying MBA concentrations is finance. 

According to the Bureau of Labor Statistics (BLS), financial managers earn an average of $161,700 per year. The field is also growing at a promising 17% per year, which is much faster than average. Graduates in this concentration may also achieve a position as the CFO, earning an average of $105,350 per year. Those who work in hedge funds and investments may earn up to $200,000, the Wharton School reports. 

Marketing manager is another popular role for MBA graduates, especially for those with a concentration in marketing. This job position is also growing faster than average and commands an impressive average salary of $159,660 per year. 

Consulting is another popular career path for MBA graduates, no matter which concentration they choose. Consultants who hold an MBA earn an average salary of $190,000.

Factors that Influence Your Post-MBA Salary

Many factors beyond the MBA concentration can influence your salary. One major factor is where you live. 

Companies located in states like California and New York often pay higher salaries than states like Texas or Illinois. For example, the average salary for a marketing manager in California is $192,730, while in Texas it’s $150,470.

Additionally, the more work experience you have, the higher a salary you command. Each position you hold helps you build expertise and refine your skills. You may not be able to start in your dream job, but you can get there by gaining relevant experience. 

One helpful tip is to reach out to professionals who currently work in your dream job to learn more about their career path. 

How to Choose the Right MBA Concentration for You

Which is the best MBA concentration for you? 

To select a specialization, consider your short-term and long-term goals. Choosing a concentration that matches your career goals and personal interests can set you on the right trajectory long-term. 

Not only will you learn skills and build your expertise while completing your MBA, but you’ll also make important industry connections with fellow students and professors. This network can support you in your initial job search and also long-term as you seek to advance your career. 

When applying to MBA programs, many advertise testimonials and profiles from graduates. Read through them and see which stories resonate most with you. You can also ask if it’s possible to speak with student representatives who can provide an insider’s perspective on the overall program as well as specifics on concentrations. 

Many universities also publish course guides and curricula, which can help you narrow down which concentration best fits your interests and skills. In my experience, admissions counselors are happy to talk you through curricula options, specializations, and how to make sure the program is a good fit for you. I've even seen cases where universities create individualized concentrations to fit the student's needs and interests. 

Also, consider industry trends and long-term growth opportunities. According to the BLS, some industries are experiencing impressive growth, such as health care and technology. BLS projections also note that computer and mathematical occupations represent seven of the top fifteen fastest-growing occupations. 

Choosing an MBA concentration in one of these areas may help ensure long-term job stability. 

Discover the Best MBA Concentration for You

Are you ready to take the first step toward choosing your MBA concentration? The first step is evaluating your skills, experience, and goals. 

To help you do that, we’ve devised a quiz that helps you explore your potential career path. Take the quiz to start your journey.