The postgraduate study experience has so much to offer. It’s where you make new friends, dive deeper into your field of study and start preparing for amazing job opportunities in the future. Yes, your journey will be worth it in every way, but it wouldn’t hurt to know your employment prospects after graduation. All it takes is some research into the highest paying Masters degrees.
While money is not everything, knowing which fields of study lead to the highest salaries may help you decide on a programme, especially if you are weighing up several options. Check out the highest paying degrees in business and management.
Master in Management: high cost and high returns
One of the most popular degrees in the greatest demand is the Master in Management (also known as MiM) – for good reason. It offers a 360-degree view of the world of business and leadership. Whether you are interested in consulting, tech, or other thriving industries, an MiM degree is one of the most prestigious – and costly – gateways to success.
On the one hand, this is a programme that will equip you with a foundation in all business-related areas, such as finance, marketing, strategy, and even human resource management. On the other hand, you will be able to choose your specialisations. If you are interested in a particular branch of management, the specialisation will prepare you with even more in-depth knowledge.
What about post-graduation salaries? According to the latest MiM ranking by the Financial Times, the school with the highest salary is the Indian Institute of Management Ahmedabad at USD 139,978. This is an average salary increase of 42% for students from what they earned before the MiM.
As for other regions, the highest-earning MiM alumni from a European school are graduates from the University of St Gallen (Switzerland). Their average post-graduation salary is USD 123,999.
Master in Finance: excellent prospects beyond 2029
It probably comes as no surprise to anyone that finance is among the highest paying Masters degrees out there. The U.S. Bureau of Labor Statistics even forecasts a 15% jump in the median salary of financial managers until 2029.
If you want to increase your prospects in this field, you might want to consider going to graduate school. This job not only requires a Bachelor’s degree, but many employers prefer to hire candidates who also have a Masters under their belt, says U.S. News & World Report.
Of course, the opportunities for specialisation in finance are just as diverse as other business-related fields. “The MIF (MSc International Finance) is a complete programme with exposure to many arenas in finance like corporate finance, asset management, and markets,” highlights Nistha Chakraborty, who studied in HEC Paris (France). “The huge choice of electives allowed me to personalise my course according to my interests.”
Next to re-establishing its top place in the Financial Times Masters in Finance ranking, HEC Paris also took second place for the programme with the highest post-graduation salaries – USD 156,583. The salary increase for graduates of the French university is a huge 92%.
Master in Healthcare Management: rising demand after the pandemic
If we have learned something from the Covid-19 outbreak, it is the importance of well-organised and well-prepared healthcare systems. Just like any other industry, healthcare needs solid managerial skills to run smoothly, especially in periods of crisis. So if you haven’t considered a Master in Healthcare Management before, now would be a good time to do so.
If you are already a healthcare professional, this degree will help you understand the industry from a business and analytical point of view. Any healthcare institution needs to manage staff, organise processes, plan budgets, and stay on top of industry trends – all of which you can learn to do expertly in a Masters programme.
But what about hiring prospects? Employment of medical and health services managers is likely to grow by 32% by 2030, which is much faster than the average for all occupations.
On top of that, the employment prospects are quite diverse, even for such a specialised discipline. At Imperial College Business School (UK), graduates mostly get hired in healthcare (58%), but also in consulting (20%), where they take pharmaceutical or heath roles, and in technology (10%).
Master in Business Analytics: lucrative field for data gurus
At the intersection of business and technology lies one of the most exciting and popular fields at the moment: business analytics. Professionals who can work with and analyse big data and, more importantly, make business decisions based on it, are in high demand among employers.
The average salary that graduates can expect to earn is about USD 85,000, according to insights from corporate recruiters and Payscale, shared by GMAC. However, this number can jump significantly depending on the university where professionals got their degree.
“Graduates in the US tend to earn much higher: MIT Sloan MBAn graduates earn an average base salary of USD 122,000, which with bonuses, is almost equal to MBA graduate salaries,” journalist Simon Lovick highlights for GMAC.
The learning that takes place in the classroom of Master in Business Analytics (MBAn) programmes is above all practical. At Hult International Business School, students dive into data analysis, forecasting, prescription, and optimisation. They develop essential skills in machine learning, data visualisation, and storytelling – skills, which will make them highly employable after graduation. Tech giants such as Google and Amazon, along with consulting firms and even startups, are constantly on the lookout for talent in data analytics.
Ensuring a steady income after graduation is important. But what’s equally important is to enjoy your Masters journey as it is. For most people, it is a once-in-a-lifetime experience, so make the most of it!