What are the Highest Paying Finance Companies for MBAs?
Let’s face it: even if money isn’t the number one reason you are looking into an MBA, it’s probably pretty high on the list. We know that earning an MBA can not only lead to a raise in salary, but can open the door to even more career opportunities that can further increase your earning potential. For those with money on the mind, there’s a lot to consider when pursuing your MBA, from which specialization will give you the most ‘bang for your buck’ to what kind of future employers most value their MBAs.
One of the top industries that consistently makes the list when looking for the most valuable MBA specializations is finance. With an average salary of $121,000 USD for jobs within the finance industry, having or working towards your MBA is a reality of the field. But for those who are willing to put in the work, finance companies are willing to pay.
The 5 Best Paying Finance Companies For MBAs
One of the places where MBAs are earning top dollars is Morgan Stanley, a financial services firm that provides a number of financial advising services, such as wealth management, investment banking, sales and trading, research, and more. Morgan Stanley is an active recruiter of diverse business school and MBA graduates, with their most recent cohort of recruits coming from 56 different countries. The company offers graduates a number of different ways to get their foot in the door, including a number of summer internships and fellowships designed specifically for MBAs.
It’s clear that Morgan Stanley believes in investing in the MBAs on its staff. While the average salary at the company is in the $75,866 range for those with just a bachelor’s degree, employees have reported average salaries around $100,477 after earning an MBA.
Depending on the job and department within the company, earning potential can be even higher. Within the firm’s investment banking department, salaries can reach over $200,000. One reason for Morgan Stanley’s high numbers come from their reputation to dole out tremendous bonuses, which—combined with the base salary—makes this company one of the highest paying firms for MBAs in finance.
Godman Sachs Group, Inc., a multinational finance company that focuses in global investment banking, investment management, securities, and a number of financial services. Founded in 1869, the company today has 34,000 employees throughout the world and revenue of more than $42 billion. Goldman Sachs makes a number of opportunities available to recent MBA graduates and current students, such as the Goldman Sachs MBA Fellowship which recognizes outstanding business students with a role as summer associate and $35,000 award in addition to the associate’s salary.
According to Payscale, MBA holders at Goldman Sachs earned a median salary of $96,844. With such a high number of diverse MBAs working for their organization, this average includes the salaries of finance managers, CFOs, financial analysts, financial controllers, and many other positions that MBAs might hold within the company.
Bank of America began more than a hundred years ago, undergoing a series of expansions and mergers that ultimately led the company to its role as one of the ‘Big Four’ banks of the United States. Today, Bank of America makes more than $87 billion in revenue and employees a whopping 208,000 employees throughout the world. Through campus recruiting, diversity fellowships, and summer internships, Bank of America actively seeks talented MBA students and recent graduates. Through the full time analyst and associate programs, graduates work full-time in a structured program that offers consistent training, development, and social opportunities.
Bank of America employees with MBA degrees report an average salary of $101,522. Programs dedicated to hiring and training MBAs, such as the Bank of America MBA Leadership Development Program, matches these exceptional salaries, offering recent graduates impressive professional development opportunities as well as salaries ranging from $94,918-$101,733.
Headquartered in Zürich, Credit Suisse Group is a multinational financial services holding company with a heavy presence in the United States. With more than 48,000 employees worldwide, Credit Suisse in 2014, was said to hold more than $888 billion of assets under management. Credit Suisse offers several pathways for MBA graduates to become involved at their company, offering positions as full-time analysts, associates, and career starters.
Depending on the role, there can be a wide range of salaries recent graduates might earn when they join Credit Suisse in an analyst positions. Positions like investment banking analyst or business analyst are likely to make upwards of $70,000-80,000, with the opportunity to turn your degree into much more as you move up through the ranks. The average salary for an MBA with a finance specialization, according to Payscale, is $120,414.
Barclays, a British multinational bank and financial services company, is well-known today for its global reach, employing more than 120,000 people and operating in more than 40 countries. Like the other high-paying financial firms on this list, Barclays offers a number of opportunities to draw talented MBA graduates to their company. Programs like Barclays MBA Ambition gives MBA candidates the chance to get a summer internship at the company even before beginning their program, allowing them to focus fully on school once it starts while feeling confident about the future. This fellowship, for example, offers $45,000 toward first-year tuition with the opportunity for an additional $45,000 in their second year if they choose to join Barclays full-time after graduating. On average, salaries for recent graduates can range from $69,588-$74,898.
About the Author
Alanna Shaffer
Staff Writer, covering MetroMBA's news beat for Atlanta, Houston, and Dallas.
