2020 Best Online MBA Programs in
New York City is the crown jewel of the financial industries and big businesses that help drive the state’s economic growth. As such, the demand for executives and managers with MBA degrees in New York City is always high. To help you make a decision about an online MBA program, we ranked our list of the best online MBA programs in New York according to the percentage of alumni who work in executive-level jobs.
MBA Jobs in
New York is a top destination for newly minted Masters of Business Administration (MBA) degree holders, and it’s easy to understand why. Not only is New York City one of the top financial centers in the world, but the state also offers myriad MBA careers for managers, financial professionals, accountants, marketing personnel, and other business professionals across a wide range of diverse industries. The state of New York has the third-largest economy in the U.S.—after California and Texas—and has huge employment concentrations in banking, finance, communication, technology, manufacturing, educational services, publishing, healthcare, retail, and many other industries.
The average annual MBA salary in New York is about $91,000—the highest in the country—which is nine percent higher than the national average of approximately $83,000, according to data from ZipRecruiter. Many of the fastest-growing salaries in New York are tied to jobs for MBA graduates, including chief executives, financial managers, sales managers, marketing managers, advertising and promotion managers, and personal financial managers, as reported by Zippia.
Growth in Diverse Industries
The 10 largest employers in New York state are IBM, PepsiCo, Pepsi Center, JPMorgan Chase, Citi, Verizon, Dior, ABM Industries, Pfizer, and Icahn Enterprises, a widely diversified holding company. These companies represent a broad range of industries, including food and beverage, banking, telecom, retail, and pharmaceuticals. The key industries driving GDP growth in New York, according to Investopedia, are financial services, healthcare, professional and technical services, retail trade, manufacturing, and educational services.
Growth in these industries will likewise drive growth in jobs for MBA graduates—especially those who have mastered not only hard skills, such as finance and accounting, but also valuable soft skills, such as team-building, digital expertise, and complex problem-solving. Growth companies across all these industries will need MBA graduates to manage and scale their businesses, determine and refine strategies, recruit and train employees, oversee financials, and market and sell their products.
The New York State Department of Labor provides detailed employment projections for MBA jobs in the 10-year period from 2016–2026. In the “Financial Activities” category, which includes jobs related to credit, securities, investments, insurance, real estate, and related industries, growth is projected at 4.1%. For “Professional and Business Services,” growth of 15.8% is expected. Other fast-growing sectors needing MBA professionals to grow and manage their businesses include “Healthcare and Social Assistance” at 27%, “Arts, Entertainment, and Recreation” at 19.7%, and “Accommodation and Food Services” at 19.2%.
- Ross, S. (2019). New York’s Economy: The 6 Industries Driving GDP Growth. [online] Investopedia. Available at: https://www.investopedia.com/articles/investing/011516/new-yorks-economy-6-industries-driving-gdp-growth.asp [Accessed 11 Oct. 2019].
- Fortune 500 (2019). Available at: https://fortune.com/fortune500/2019/search/?employees=desc [Accessed 19 August 2019].
- Ross, S. (2019) New York's Economy: The 6 Industries Driving GDP Growth. Available at: https://www.investopedia.com/articles/investing/011516/new-yorks-economy-6-industries-driving-gdp-growth.asp [Accessed 19 August 2019]
- MBA Salaries in New York. (2019) Available at: https://www.ziprecruiter.com/Salaries/How-Much-Does-a-MBA-Make-a-Year--in-New-York [Accessed 19 August 2019]
- Kolmar, C. (2019) These Are the 100 Highest Paying Jobs in New York for 2019. Available at: https://www.zippia.com/advice/highest-paying-jobs-in-new-york/ [Accessed 19 August 2019]
- Employment Projections (2016). Available at: https://labor.ny.gov/stats/lsproj.shtm [Accessed 19 August 2019]