A Master of Business Administration has, and always will have a lot of scope. It branches out into many specializations, including: Finance, Marketing, Operations, Consulting, and HR. An MBA is a viable option for those looking to climb up the ranks, and it is one of the most sought-after and useful master’s degrees in the world. Their skill sets have wide applications, and their leadership, analytical capabilities, problem-solving, management, and networking are highly valued by corporations world-wide. They are typically involved in management and administrative roles. 

Average Salary: $115,000/year. 

Some of the top jobs that this degree can lead to are General Business Managers, Operations Managers, Marketing Managers, Sales Managers, and Financial Managers.

Human Resource Managers and Executives are widely scorned at for not being very good at their job, but the deeper we dive into what they do, the more we realise just how much they are involved in. They manage incoming talent, staff training, company morale, intra-personal work relations, complaints, salary negotiations, and ensure that productivity and happiness is high. They ensure that everything is going well, and closely work with the management. HR Managers go through the MBA route and specialize in Human Resource Management. 

Average Salary: $100,000

Quite often, HR Managers at huge corporations will earn more than those who are part of smaller companies due to the vast number of employees that need to be managed. 

Business Management Consultants identify business troubles and problems, and come up with solutions in order to resolve said problem, improve the organisational output, aid in growth, and overall serve as consultants to streamline any process they are required to provide solutions to. This can range from Marketing and Sales Strategies, to managing the internal management process for better efficiency.

They are also well-versed in strategic management, analysis of the market and industry, and global practices. They seek to optimise the business process, rise above their competition, and maximise profits. Look up consultants from McKinsey to get a general idea of the same. 

Consultants are often MBAs, and hone their skills depending on the industry they wish to be a part of. They may also not have a specific area of expertise, and are masters of many types of businesses. Strategy and Consultation is something that is never going to be obsolete, because consultants make use of not just theory, but real-time data collection and analysis. 

Average Salary: $115,000

They’re typically responsible for ensuring and managing the production of goods and services in a company. This involves designing, optimising, and execution of the operations process keeping in mind resources, labour and costs. They seek to do the best they can with the available capital and resources.

They work with various departments, kickstart and fuel projects, improve processes, monitor metrics, and strategically look for opportunities for the growth of the business. Once again, they specialize in Operations through a Master’s in Business Administration.

Average Salary: $110,000

Some of the top jobs in Business Operations include Operations Analysts, and Operations and Supply Chain Managers. 

Computer Science, as the name suggests, is the study of computers and computational systems, dealing with software, algorithms, programming, security, networks, analysis and much more. The applications of Computer Science range far and wide, with webs in fintech, software engineering, biotech, design, social media, hardware, networks etc. They are practically applicable to most spheres of life, and have taken humankind to heights and depths previously unfathomable. 

Courses in CS provide conceptual understanding from the top minds in the field, experience, exposure to industry practices, knowledge, developing sprees, and invaluable connections to companies and individuals through internships, placements and networking. 

Average Salary: $119,500

Computer Science graduates have always been in-demand, and are always going to be in demand. With multiple, complex specializations such as Networking, Ethical Hacking, Data Science, Full-stack Development, Software Development, IT Administration, Machine Learning, AI, Robotics, Coding Languages and Cloud Computing (and much more!), the prospects after an MS in CS are endless. To read more about an MS in CS in USA, click here!  

One of the most relevant degrees in today’s world, IT is crucial to the functioning and success of every organization. It involves the transmission, storage and subsequent analysis of information that is required. IT also involves information systems programming, coding languages, network architecture, security, and software development. 

IT Managers stay up-to-date with the latest trends of tech, fulfil and determine their client’s computer needs, and oversee software development projects. 

Average Salary: $145,000

IT Managers typically go through an MS in Computer Science, with a specialization in Information Systems and Technology. Top Jobs usually includes IT Managers, Project Managers (Software/Networking), Systems Analysts, and Software Developers.

Kindly check Degree 6 – Computer Science, for the best countries and prospects for IT.  

Data-driven decision making has been all the rage since 2016. The demand for Data Scientists is showing no signs of slowing down, even in 2021. Data Science software and processes aid companies in strategy, crunch and generate algorithms that optimise business processes, improve consumer experience, and maximise yield. Tools like Python, R, Tableau, and Google Analytics are changing the game all over the world. The need to pick data apart, crunch it and generate results that aren’t skewed is crucial to an organization’s future. 

With the rise of computers that work at lightning-fast speeds and computational power, data sciences have emerged as a top field to specialize in. Companies such as Facebook, Google, IBM, and Amazon make use of Data Scientists extensively as well. 

Average Salary: $95,000 

Data Scientists are well-versed in Statistics and Research. They typically complete their Bachelor’s in Computer Science, IT or Mathematics. Then, they proceed to complete their Master’s in Data Science. 

Mathematics is everywhere we look. The same goes for its applications. Ranging from the Sciences to Engineering, to Business and Management, Mathematics is vital in our lives. A Master’s in Applied Mathematics involves the application and conduction of research and mathematical concepts to industries such as software, financial, economic, and engineering industries. At first glance, it may seem very similar to Data Sciences, but the nuances are there for those who know what to look for.  

Average Salary: $90,000 (varies widely)

Top Jobs include Operations Research Analysts, Statistical Analysts, Financial Analysts, and Data Analysts. 

Some of the best countries to study Applied Mathematics are Switzerland, the UK, Germany, the USA, Singapore, and Canada. 

In this age of capitalism, who better than an economist can analyse and predict market trends? A Master’s in Economics gives them a vast knowledge of global economies, market policies, and investments. This allows them to be the perfect people to go to for an organization’s business and financial decisions. 

An Economist has a wide range of opportunities, in both the private and the public sector. They can ensure sustainable growth, make predictions based on applied mathematics, data, and research, and even specialize in certain sectors such as finance, tech or healthcare. They’re adept at identifying key economic policies that can better an organization or even a country, and can serve as consultants at varying levels of the government or a corporation. 

Average Salary: $105,000

Top Jobs include Financial Analysts, Economists, Scientists, and Market Analysts. 

Similar to the above degrees, the applications of a Master’s in Finance degree are vast. At its core, the study of finance involves the study, oversight, management, and creation of banking, money, investments, capital, assets, liabilities, and financial systems. Plenty of financial concepts have their roots in economic theories. 

Financial Managers of an organization are responsible for the financial health of the company. They select the best investments for growth, create reports and projections for the company’s financials, and create strategies to ensure that the organization achieves its long-term goals. This is more in line with corporate finance. Investment Bankers also fall under the same, and bring in a lot of funds for the company through equity and other investments through strategy and research.

Financial Advisors deal more with personal finance, such as managing accounts, choosing the best retirement plans and investments for the long-term, managing taxes and insurance etc. 

There are also Financial Analysts, who are analyse Market trends and suggest investments based on their client’s needs. You could also go into the equity market, and become a trader. 

The applications of this field are vast. 

Average Salary: $106,000

Top Jobs include Financial Analysts, Investment Bankers, Financial Managers, Traders, and Financial Advisors.

A Master’s degree in Taxation isn’t always a straight-forward path in all countries. You might pursue a Master’s in Accounting, a Master’s in Finance, A Chartered Accountancy, or even a Master’s in Financial Law and still become a Tax Specialist or Advisor. A Master’s in Taxation program also exists, and it covers tax compliance, financial planning, tax research, taxation of corporations and employees, accounting, and consultation. A master’s degree provides access to upper-management job roles such as senior tax accountants, tax managers, financial analysts, Tax Auditors and advisors (these are also the top job roles for Taxation). 

Average Salary: $91,000

When we think of law, we often think of judges, advocates and criminals. We often forget that the reach of the law is prevalent in multiple fields. Corporate law for instance, is a vast field, with lucrative career options. There’s Media Law, Financial Law, Real Estate Law, and even working in Law firms. After your BA LLB, comes LLM which is your Master of Laws degree. It will involve deep understanding and knowledge of your country’s judicial system and laws, after which you can specialize in various fields of your choice. 

Lawyers can work both in the private and the public sector, with tons of opportunities available depending on the talent and interest of the student in question. 

Average Salary: $97,000

Top Jobs include Advocates, Judges, Legal Consultants, and Corporate Lawyers. 

Corporate Lawyers have some of the highest salaries in this category, with an average salary of $140,000. 

After their Bachelor’s, a Master’s in Engineering Management allows for engineers to develop crucial business and management skills for management level roles. They focus on the optimization, management and maximation of engineering processes, outputs and teams using the principles of management and their engineering backgrounds. They can work in a variety of fields, depending on the type of engineering they specialized in, in their bachelor’s. This can be software engineering, civil engineering, biomedical engineering, electrical engineering, architectural engineering, construction, mechanical, and so on.

There is also a difference between product engineering managers and process engineering managers. 

Average Salary varies widely: $111,000 

A Master’s in Civil Engineering can involve specializations such as construction, architectural, hydraulic, structural, highway, geotechnical, and transportation engineering. They conduct environmental assessments, obtain permits, create blueprints, select materials and ensure the smooth completion of the project. 

Essentially, they make the use of scientific concepts to build, improve and maintain infrastructure and utilities that are vital for basic human needs. Think water, electricity, roads, airports, towers, and bridges. This is always going to be crucial for humans, which is why Civil Engineers are in demand. 

Average Salary: $88,000

While this may seem out of place at first, just hear us out. Electrosciences involve the implementation, creation and supervision of the process of setting up electrical systems. They are frequently required by R&D firms, utility companies, electronic equipment manufacturers, researchers, business firms, and telecom companies. 

At least 7 of the world’s top 20 MS in Computer Science programs, are taught alongside Electrical Engineering. Think of the hardware and software synergistically creating something new every year, and the minds behind it. Electrical Engineering involves a strong understanding of mathematics, engineering and scientific applications of electroscience.

The applications for an MS in Electrical Engineering can also be extended to (apart from the above) city grids, nanotechnology, electromagnetic studies, photonics, optical communications, antenna networks, and physics. Furthermore, with the advent of climate change and a desperate call for action, the need to use alternate energy sources that are renewable has never been more vital. Solar and wind energy engineers, pioneers and researchers have a strong base in electrical engineering. Solar cells are a lot more efficient and cost-effective now than they were 5 years ago even. 

Average Salary: $120,000

Job roles vary vastly. 

Remember, we did tell you that this list wasn’t ranked from the highest to the lowest or vice versa in terms of salaries. It is arbitrary, which is why Medicine and Dentistry is ranked so far below on the list. 

An MBBS is one of the most valuable degrees in the world. Imagine where we would be without healthcare! An MD after your MBBS is particularly well-suited for an excellent career in medicine. You could specialise in neurology, gynaecology, surgery, nephrology, orthopaedics, medical research, or any other field of medicine. There are never going to be enough doctors and nurses in this world, and both fields are undeniably crucial to humankind. While an MD can lead to a lucrative life, do keep in mind the toll that medicine takes on your mental health. It isn’t all glamorous behind the scenes, for obvious reasons. 

Dentistry (BDS), is also a well-paying field. You can either be part of a conglomerate, or set up your own practice. Orthodontists, in particular, are paid quite well. 

Forget about salaries for a second. As a professional in the medical field, you will be of immense value to society, serving tirelessly and striving towards the betterment of human life. What better reward do you need? (Yes, yes we know monetary security is important! : P ) 

Average Salaries vary quite a lot. ~$150,000

Healthcare Managers almost always have a background in medicine, and seek to bring forth the principles of business management to the healthcare industry. They handle the administrative side of things and ensure that the clinical side of things run smoothly, with oversight over budgets, employees, medical regulations, the latest developments in medicine, and industry practices. 

They are responsible for the well-being of the entire hospital, and for making sure that the hospital practices the best medicine, both ethically and fiduciarily. A Master’s in Healthcare Administration is highly sought-after in the world, and continues to rise in demand as well. 

Average Salary: $110,000

These Anaesthesia specialists are vital to most surgical, diagnostic, and obstetrical procedures. They are in-charge of making sure the patient feels safe, of learning patient history, their allergies, medications, and other information that is medically relevant. Following this, they administer anaesthesia and observe the patient carefully during the procedure. If the patient regains consciousness or feeling, they step in to adjust the amount of anaesthetic medication. In procedures where the patient can be awake, they talk to the patient and make them feel comfortable.  

A Master’s degree in Nursing Anaesthesia is required to practice, along with a nurse’s license of course. They are some of the highest-paid nurses, and are in demand throughout the world. 

Average Salary: $160,000

The last degree that we will cover is Psychology. The study of the human mind, its functions, behaviours, and health. Research increasingly points out to the fact that mental health is absolutely vital to the functioning of humans. It has also been shown to impact physical health. 

After all that we have achieved as a species, many of us still struggle to cope with the horrors and wonders of life, constantly questioning our place, our abilities, our bodies, and our lives. To many, unexplained feelings and thoughts stem from brain chemistry or genes, wherein they require medication and psychotherapy. That would be psychiatry. 

Psychologists seek to understand the social, cognitive and emotional processes of people through observation, interpretation and tests. They help us understand our vices, unlock and heal trauma, overcome addictions and help us better our mental health. 

There’s clinical psychology, social psychology, and even industrial-organizational psychology. They conduct research and determine factors of satisfaction, happiness, sadness, levels of stress and more. 

Like medicine, a Master’s in Psychology is also highly rewarding in terms of helping people. It comes with its risks, and it can be draining, which is why they undergo a lot of training. They are also paid quite well. 

Average Salary: $86,000

So, there we have it. We hope you found this information useful. Do try and remember, that chasing monetary gain does not equal happiness in life. If you truly wish to pursue some of these degrees, then reach for the stars and achieve your dreams. Wealth can lead to a comfortable life, no doubt about that. At the risk of sounding too preachy, try not to shape your goals in search of wealth all the time. At the end, it is your call. No matter what you choose to do in life, we at Galvanize wish you all the very best! 

If you wish to set up a free consultation call with one of our counsellors, click here!

Hope this blog helped you! Written by Saahil R Bhatt.

Guided by Pavitra Srinivasan and the Galvanize Admissions Team

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