Massachusetts boasts the 13th-largest labor force in the nation, with close to 4 million people employed as of 2018, and opportunities abound in the state for MBA graduates. With advertising and promotions managers, financial managers, sales managers, and marketing managers all landing solidly within the state’s 30 highest-paying professions, MBA graduates can benefit from lucrative career paths across a selection of industries.
Healthcare may top the list of key industries in the state, but graduates of MBA programs in Massachusetts can also take advantage of opportunities in manufacturing, computer software, and retail.
On this page, prospective students can begin the search for an MBA program or bolster their research by reviewing the list of accredited MBA programs in Massachusetts. By considering the list of common occupations for MBA graduates in Massachusetts, prospective students can align their studies to their choice careers, optimizing their resumes for success in the Massachusetts job market.
Careers and Salaries for MBA Graduates in Massachusetts
The Massachusetts economy enjoys steady job growth. The state’s 2.9% unemployment rate falls below the national average, according to the U.S. Bureau of Labor Statistics (BLS), making Massachusetts an ideal location for recent graduates to seek employment.
According to MassBenchmarks, a program at the University of Massachusetts Donahue Institute, the state’s economy grew by 2.7% in the first quarter of 2019. Estimates show Massachusetts’ economy growing slightly more than in the previous three years.Located mostly along the coastline and in Boston, the state’s top industries offer many opportunities for MBA graduates. Leading industries in Massachusetts include clean energy, the creative industry, defense technology, digital health, financial services, information technology, life and marine sciences, and manufacturing.
The fastest-growing careers in Massachusetts include information security analyst, operations research analyst, market research analyst, and marketing specialist, according to the state’s Executive Office of Labor and Workforce Development. Employers for these positions often prefer or require candidates to hold MBAs, according to the BLS. Master’s degrees in business administration can also offer advancement opportunities.
Grow your career, leadership, and business acumen with an accredited online MBA program.
Online MBA degrees help recent graduates appear more credible when applying for jobs at any of the top employers listed above. A bachelor’s degree in business administration is a popular degree at Massachusetts General Hospital, but PayScale data indicates that an MBA leverages additional qualifications for job applicants. The degree also provides job candidates with many transferable skills, such as analytical thinking, creativity, and communication, according to the University of California Haas School of Business.
Careers for MBA Grads in Massachusetts
Architectural and Engineering Manager
Architectural and engineering managers develop products, select necessary equipment, troubleshoot technical problems, handle budgetary needs, and oversee staff. They may spend most of their time working directly in a manufacturing plant or on a construction site. Architectural and engineering managers may begin with bachelor’s degrees, but many earn MBAs for leadership training and financial management to qualify for advancement opportunities.
A type of financial analyst, portfolio managers specialize in investments. Using their knowledge of the stock market and company assets, they build plans, monitor investments, and submit regular status reports to company executives. Many portfolio manager positions require candidates to hold their bachelor’s, but an MBA can prepare potential employees with a solid basis in economics, finance, and market strategy.
According to the BLS, Massachusetts employed 13,400 financial analysts across all specialties as of May 2018, and they earned an annual mean wage of $105,540. Projections Central expects a mild increase in demand for financial analysts in Massachusetts from 2016-2026, anticipating a 7% growth.
A controller is a type of financial manager responsible for preparing a company’s financial reports. They provide current data and make forecasts to help with future decisions, and they may prepare tax documents and manage budget-related departments such as accounting and auditing. Many employers prefer controllers who hold MBAs, which provide a firm foundation in financial strategy and business communication.
According to the BLS, Massachusetts employed 33,880 financial managers across all specialties as of May 2018. These professionals earned an annual mean wage of $148,300 in the state. Projections Central expects a spike in demand from 2016-2026, projecting a 17.3% growth in the occupation.
Another specialty within the financial management umbrella, financial officers develop and maintain company budgets. Sometimes known as treasurers, these professionals develop strategies for company growth by optimizing income through investments. Financial officers often hold MBAs, equipping them to deal with large budgets, handle financial software, and manage teams.
As mentioned above, these professionals earned an annual mean wage of $148,300. Projections Central expects a 17.3% uptick in demand between 2016 and 2026.
Health information managers work for hospitals, clinics, nursing homes, and other health facilities to make sure patient data remains secure. They monitor databases for correct input, oversee access, and stay apprised of updates and changes to relevant software. With an MBA, perhaps one specializing in information systems or healthcare management, graduates hold desirable degrees and qualify for more job opportunities in the healthcare industry.
The BLS reports that Massachusetts employed 15,380 medical and health services managers, including health information managers, as of May 2018. These professionals earned an annual mean salary of $133,900.
MBA students who choose specializations can potentially align their studies with job opportunities in the state where they wish to work. Healthcare dominates the list of Massachusetts’ largest employers, with 13 hospitals, emergency centers, and healthcare management companies ranking among the state’s top 25. Other large employers include software programmers and electrical equipment manufacturers.
As such, graduates of MBA programs in Massachusetts might do well to select specializations in healthcare management, information technology or systems, or technology. To learn more about how to align your career goals with an MBA concentration, visit this specializations page.
Massachusetts’ Best Online MBA Programs for 2021
The following list includes the top five universities offering master’s in business administration programs in 2021. Prospective MBA students can find program details, interesting facts, and academic attributes listed below.
All schools on the list are regionally accredited and hold approval from third-party organizations. Accreditation ensures that schools maintain exceptional quality standards. Read more about MBA accreditation here. The following universities hold accreditation from the New England Commission on Higher Education (NECHE).
UMass Amherst’s Isenberg School of Management offers a flexible MBA program designed for business professionals who aspire to be industry leaders. The program offers five focus areas, including business analytics, entrepreneurship, and healthcare administration.
Students can choose a hybrid format or a 100% online program. Students can get a resourceful and extensive learning experience by sharing perspectives with over 1,400 experienced professionals currently enrolled in this program. Enrolling during the summer and winter sessions, students can complete this program in two years.
Applying to UMass Amherst
Applicants must possess a minimum 2.75 undergraduate GPA and at least three years of post-baccalaureate work experience. The online application must include official transcripts, recommendations, a resume, and a personal statement.
Program at a Glance
School type: Public Accreditation: NECHE Tuition: $900 per credit Required credits: 45 credits Program length: 2-4 years Delivery format: Online/hybrid (synchronous and asynchronous)
A private university located in Longmeadow, Massachusetts, Bay Path has approximately 16,000 alumni across the globe. The college is a member of The National Collegiate Athletic Association (NCAA) and competes at the Division III level. Roary the wildcat is Bay Path’s mascot.
Bay Path offers an MBA in entrepreneurial thinking and innovative practices designed for working professionals. The 36-credit program comprises ten core courses and two electives, following an accelerated 8-week format. Online students can access tutoring, academic, and library resources, along with career services.
Students can complete the flexible program full-time or part-time in online, hybrid, or on-campus formats. The program takes 1-2 years to complete. Classes start every February, June, and October.
Applying to Bay Path
Bay Path requires a minimum 3.0 undergraduate GPA. Applicants should include two recommendations, a resume, and a 250-word essay along with the complete application.
Program at a Glance
School type: Private Accreditation: NECHE Tuition: $855 per credit Required credits: 36 Credit Program length: 1-2 years Delivery format: Online/ Hybrid (synchronous and asynchronous)
Babson offers a part-time MBA program available in online, on campus, or hybrid formats. Designed for experienced professionals, this program provides students access to an alumni network across 129 countries. The self-paced program requires 45 credits of core and elective coursework and takes less than two years to complete.
Students can choose one or more concentrations from seven specializations, including global marketing, business analytics and machine learning, and quantitative finance. More than 243 Babson faculty members completed an online teaching training program before the 20-21 academic year.
Applying to Babson
Students seeking admission must hold work experience and submit one professional recommendation letter. Other requirements include a resume, essays, and transcripts. Enrollees must also sit for an interview.
Program at a Glance
School type: Private Accreditation: NECHE Tuition: $1,990 per credit Required credits: 45 credits Program length: 1.5-2 years Delivery format: Online (synchronous and asynchronous)
UMass Lowell's Manning School of Business offers an accelerated MBA program for experienced professionals that takes only 12 months. The flexible online program offers customizable electives and nine concentration tracks, including entrepreneurship, managerial leadership, international business, and business analytics. Online students receive the same degree as their offline counterparts.
The 42-credit program requires no on-campus visits. Students get up to five years to complete their degree. Learners generally spend 8-12 hours on each course per week.
Applying to UMass Lowell
Admission to the program requires GMAT and GRE scores or eight years of managerial experience. Prospective students must also submit professional and academic letters of recommendation, a resume, official transcripts, and essays along with the online application.
Program at a Glance
School type: Public Accreditation: NECHE Tuition: $837 per credit (in state), $1,491 per credit (out of state) Required credits: 42 credits Program length: 1-5 years Delivery format: Online (asynchronous)
The MBA in strategic leadership at Fisher allows students to complete a general degree or select a concentration from sports administration, healthcare management, or accounting. The program comprises ten core courses and three strategic leadership or concentration courses conducted in six eight-week terms.
Students can complete the 39-credit accelerated program online in 10-14 months. The program focuses on nine learning objectives and includes an industrial analysis, strategy, and planning capstone.
Applying to Fisher
Those seeking admission must hold a minimum GPA of 2.7 or higher and submit their proof of high school completion along with two letters of recommendation.
Program at a Glance
School type: Private Accreditation: NECHE Tuition: $636 per credit Required credits: 39 credits Program length: 10-14 months Delivery format: Online (asynchronous)