A Master of Business Administration (MBA) can be applicable across a wide variety of positions and industries. For that reason, students should look at the best MBA concentrations and decide which one aligns with their career goals.
One particularly important factor in sorting through the options is to consider the concentrations a given degree program makes available to its online students. Of course, students should choose a specialization that fits their professional interests, but it is also important to consider how particular MBA concentrations might position them for success in the business world after graduation.
Suffolk University’s AACSB-accredited online MBA offers multiple concentrations, equipping students with in-demand skills that are sought after by employers in today’s market.
Popular MBA Concentrations
The best MBA concentrations combine knowledge of finance, accounting, marketing, or economics with real-world career considerations, including the foundational knowledge that can lead to leadership positions. Completing the right MBA concentration can be a stepping stone toward more competitive salaries and more prestigious positions.
Consider four of the most sought-after MBA concentrations , along with some career opportunities associated with each.
As the economy grows, so does the demand for highly trained accountants and auditors. Suffolk University’s MBA with a concentration in Accounting Principles can equip students with the skills they need to add value and bring innovation to these roles. An accounting concentration can also give students the skills they need to be highly competitive in the job market and to pass their Certified Management Accountant (CMA) and Certified Public Accountant (CPA) examinations.
They can leave the program with a firm understanding of accounting in both for-profit and not-for-profit sectors and are prepared to work in a variety of roles, like management accounting, budget analysis, and even governmental accounting.
Potential Careers and Outlook
Potential career opportunities for MBA graduates with an accounting concentration include:
- Certified public accountant (CPA)
- Certified management accountant (CMA)
- Forensic accountant
- Corporate controller
The U.S. Bureau of Labor Statistics (BLS) projects solid job opportunities for accountants and auditors. The field is expected to grow by 6 percent between 2021 and 2031, leading to some 136,400 new vacancies each year. Accountants made a median average salary of $77,250 in 2021, with the top 10 percent of earnings making more than $128,970.
Those who work in corporate finance are responsible for ensuring a business’s financial health and future and are therefore extremely important to their employers. Given their significance to the overall success or failure of a business, people working in finance are expected to bring a wealth of knowledge and creativity to the boardroom.
Needless to say, such a high-stakes field is quite competitive, so an MBA with a concentration in Finance can give graduates a competitive advantage in the job market and provide the necessary knowledge to make meaningful contributions to the workplace and to the wider economy. The Suffolk University online MBA’s Finance concentration provides tools and methodologies that enable graduates to approach financial challenges critically and creatively, which can yield rewarding careers across industries.
Potential Careers and OutlookPotential career opportunities for MBA graduates with a finance concentration include:
- Financial analyst
- Chief financial officer (CFO)
- Investment banker
Members of this constantly evolving field are in very high demand—for instance, the BLS projects jobs for financial managers to grow by 17 percent between 2021 and 2031, much faster than the average for all professions. In 2021, financial managers made a median annual salary of $131,710, with those in the top 10 percent earning more than $208,000.
The future of businesses worldwide hinges on well-collected and well-utilized data. However, companies have quickly realized that data is much easier to collect than it is to analyze and use effectively. They need highly skilled employees in their leadership roles who understand how to manage data and the systems that store it, and especially know how to analyze and visualize the results.
These skills can help optimize their processes and customer relations, improve decision-making, and solve business problems across a wide variety of departments and job functions. Suffolk University’s concentration in Business Intelligence can provide the tools students need to manage and analyze data, design databases, and apply their skills in real-world scenarios.
Potential Careers and Outlook
Potential career opportunities for MBA graduates with a business intelligence concentration include:
- Data and business analysts
- Application developers
- Project managers
BLS data shows that the role of management analyst is projected to grow by 11 percent between 2021 and 2031, faster than the average for all professions. Management analysts made a median annual salary of $93,000 in 2021, with those in the top 10 percent making more than $163,760.
Health Sector Management
Healthcare is a growing field in need of executive and administrative professionals. Leaders who understand the licensing, legal, business, and compliance requirements of the healthcare system can have a positive impact on the sector and its providers, which can improve healthcare outcomes.
Students in Suffolk’s Health Sector Management concentration can gain advanced business competencies to become effective healthcare leaders. These include knowledge in the assessment and management of healthcare trends and functions such as data analytics, healthcare services delivery, and global and community health.
Potential Careers and Outlook
Potential career opportunities for MBA graduates with a health sector management concentration include:
- Hospital Chief Executive Officer
- Health Care Association Director
- Hospital Operations Manager
- Quality Improvement Manager
BLS data shows that medical and health services manager roles are projected to grow by 28 percent between 2021 and 2031, much faster than average for all occupations. Medical health and services managers made an average annual salary of $101,340 in 2021, with the top 10 percent earning more than $205,620.
Enroll in One of the Best MBA Concentrations
Suffolk University’s AACSB-accredited online MBA program is designed for working professionals who need to gain advanced skills in their respective fields while remaining in the workforce. The best MBA concentrations can help graduates leave the program with both generalist and specialist skills attained through rigorous coursework and frequent interactive learning sessions with professionals and leaders from throughout Boston and the world.
Find out how Suffolk University can help you advance your career by specializing in business’s most in-demand areas