Before we look at the best MBA career options
and their commanding salaries, it is important to acknowledge that the salary
range of each job depends on several factors. These determining factors are
company size, location, job profile and candidate's educational qualification,
skill set and work experience.
Chief
Operating Officer (COO)
They handle the internal affairs of a
company, primarily focusing on formulating and executing its business strategy
in alignment with its long-term goals and vision. The COO sets the roadmap for
business operations, establishes actionable policies to promote the company's
vision, and oversees the work of management executives. The COO reports to the
CEO and usually occupies the second most important rank in the company after
the CEO. The COO oversees and directs the day-to-day administrative functions
of an organization.
COOs must be well-versed and experienced in a
variety of business matters, including business strategy, resource allocation,
operations management, supply chain and logistics, and performance appraisal.
Chief
Technology Officer (CTO)
A chief technology officer primarily focuses
on developing a company's technical infrastructure. In this regard, the CTO
develops roadmaps for efficient use of the company's technical resources,
evaluates existing systems and implements new technical systems, and oversees
all technology development actions. Their main goal is to design innovative
strategies to optimize the organization's technology policies and practices to
remain relevant in a competitive marketplace. CTOs work closely with a
company's IT team. They need to step up as inspiring leaders with excellent
organizational and communication abilities. The best MBA specializations for
CTOs are Information Technology, Information Security and Information Systems
Management.
Chief
Administrative Officer (CAO)
Chief administrative officers manage and
oversee the daily administrative tasks and functions of a company. They lead
and supervise individual departments, including human resources, IT, finance,
sales and marketing, and are responsible for overall strategic planning and
delegating tasks to senior managers. CAOs focus on business strategy
development, which includes risk assessment, business expansion opportunities,
setting goals and measuring key metrics, and planning projects that drive
company growth. Interested CAOs can opt for the Organizational Management,
Business Development, Strategic Leadership and Human Resources MBA
specializations.
Chief
Executive Officer (CEO)
The Chief Executive Officer holds the highest
rank in the senior executive bench of a company. They are the top decision
makers in an organization who make all important corporate decisions regarding
business operations and use of company resources. They plan, implement and
determine the vision and direction of an organization. The CEO should always be
aware of the competitive landscape (external and internal), opportunities to
expand into new markets, customer trends and the latest industry developments.
Typically, they require extensive experience and knowledge of business
management. The best MBA options for CEO are Executive MBA in Organizational
Leadership, Strategic Management, Finance and Business Strategy.
Chief
Financial Officer (CFO)
Chief Financial Officers are senior officers
who supervise and manage the financial/financial operations and decisions of an
organization. The primary duties of a CFO are financial planning, monitoring
cash flows (revenue, profit, loss, etc.), and analyzing a company's financial
strengths/weaknesses. CFOs usually have in-depth knowledge of various domains
such as economics, accounting, finance and market research. They determine and
decide the company's investments, capital structure and strategies for managing
budget/income. MBA specializations in finance, economics, accounting and
corporate financing are great options for CFOs.
Chief
Marketing Officer (CMO)
Chief marketing officers are responsible for
planning, designing, and executing a company's creative vision. They set
marketing goals, plan marketing strategy, identify and monitor marketing KPIs,
set marketing budgets, analyze consumer data to identify latest consumer/market
trends. CMOs are essentially the innovation catalysts and growth drivers of an organization.
Marketing Management, Social Media Marketing, International Business are three
ideal MBA options for a CMO.
Investment
banker
Investment bankers work for financial
institutions, large corporations, government agencies, NGOs and private
individuals. They evaluate their clients' financial data (assets, investments,
etc.), assess risks and rewards, and provide sound financial advice and
recommendations to help them meet their financial goals. Investment bankers
must possess admirable interpersonal, analytical, market research and project
management skills. They should have good financial knowledge. MBA
specializations best suited for investment bankers include economics, finance,
corporate finance, accounting and risk management.
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