Most industries rely heavily on data. From small data sets covering quarterly earnings to large sets analyzing years’ worth of medical studies, data informs and directs key stakeholders to make decisions that result in positive outcomes. Those who pursue an MBA in Data Analytics degree can position themselves to potentially land leadership roles related to this crucial and evolving area.
A specialized MBA can also lead individuals to a wide range of career paths. Today, data analytics specialists are in-demand throughout the marketplace thanks to an increased need for workers who know how to analyze, visualize and interpret data. These jobs not only tend to offer lucrative salaries, but they can also provide you with the opportunity to shape a company’s growth.
This article breaks down the MBA in data analytics salary for select career paths.
What Is an MBA in Data Analytics?
While MBA programs tend to share a common core curriculum, an MBA in Data Analytics places special emphasis on concepts such as information systems, quality and performance management, integrating of analytics and business intelligence and approaching data analytics from a management perspective.
This allows students to develop a deeper understanding of the field and prepare for a leadership career in data analytics. These careers can be pursued within the public, private and nonprofit sectors. They can also be in nearly any industry, allowing individuals to pursue a career in a specific field relevant to their interests.
Careers in Data Analytics
Professionals skilled in business and data analysis can pursue a career in data analytics, such as:
- IT Systems Analysis
- Digital Marketing Management
- Market Research Analysis
- Financial Analysis
Any position in which data plays an integral role can empower leaders to make informed decisions. There is no limit to the value of understanding data — how to collect it and what it means.
Typical MBA Data Analytics Salary
Post-baccalaureate degrees, including MBA degrees, are strongly desired for the type of leadership positions that provide higher salaries. The 2022 Corporate Recruiters Survey from the Graduate Management Admissions Council found that the median starting salary for MBA graduates was 22% to 40% higher than the median starting salary for bachelor’s degree holders.
MBA in data analytics salaries vary depending on position, but they tend to be well-paying. For example, according to the U.S. Bureau of Labor Statistics (BLS), the 2021 median annual pay for operations research analysts (including business data analysts) was $82,360, and data scientists earned $100,910.
Graduates of online MBA Data Analytics programs may also find ways to turn their online MBA success into leadership roles with higher salary ranges. Some of these roles, with 2023 approximate median annual salary data from Payscale, include:
- Analytics Manager: $102,700
- Business Intelligence Manager: $106,700
- Data Science Manager: $143,200
Data Analytics Career Outlook
The projected job growth of careers in data analytics fluctuates depending on the precise role. However, data professionals of all kinds are highly sought after across industries, and specific job roles within the field are projected to grow well beyond the 5% growth rate BLS projects for the average profession. For instance, the BLS expects positions for operations research analysts to grow 23% between 2021 and 2031, with around 24,200 jobs to be added to this industry.
Most related analyst fields are also expected to grow over the next ten years. For example, BLS predicts market research analyst jobs will grow 19% by 2031, with over 150,300 jobs added between 2021 and 2031. The expected percent increase in available jobs is even higher for data scientists. The BLS predicts 36% growth between 2021 and 2031, representing 40,500 new jobs.
Data Analytics MBA Benefits
An MBA with a data analytics concentration can provide numerous advantages that can help graduates throughout their careers.
1. Become a Better Leader
Data analysis is a necessary and specialized skill set that benefits every industry. Businesses, start-ups and government departments increasingly require workers who know how to manipulate, analyze, interpret and present data. This can provide organizational leaders with meaningful insights that empower data-driven decision-making.
An online Data Analytics MBA offers the type of coursework you will need to develop these special skills. Lists and reports of in-demand skills from sources such as Forbes, LinkedIn and World Economic Forum make it clear that the ability to process, interpret and leverage data is highly sought by employers.
2. Develop In-Demand Data Analytics Skills
An MBA data analytics program will teach you essential skills that set you up for success as a data-driven worker, leader and decision-maker.
Common curriculum topics associated with the degree include:
- Database management software
- Business intelligence tools
- Data collection
- Statistical analysis
- Quantitative research techniques
- Hypothesis testing
- Research reporting
- Applied analytics
Additionally, you will develop critical soft skills that employers value in leadership positions, such as ethical management practices, problem-solving and conflict resolution. A combination of technical and soft skills is required for management roles in both data science and data analytics.
These skills can prepare you to be a leader that earns a competitive MBA in data analytics salary.
3. Gain Entrepreneurial Skills
It is increasingly difficult for business leaders to survive without a keen understanding of data or without hiring someone who possesses that skill set. Entrepreneurs can benefit significantly from an MBA in Data Analytics degree thanks to the significant impact of sound data analysis in all aspects of business.
As a business owner, you will encounter critical issues only solvable with data analysis, so it is critical to learn how to:
- Analyze and interpret sales figures
- Create and understand customer profiles
- Predict and prepare for interruptions to your business
- Improve customer retention
- Develop and refine advertising campaigns
Most problems in business can be viewed through a data lens. As your business grows, you will collect more data, which can be analyzed for trends and insights that inform your decision-making, profitability and organizational success.
Begin Your Advanced Career in Data Analytics at Walsh University
Walsh University’s Online MBA in Data Analytics program can help prepare you to become a leader in an increasingly critical field. We’re recognized as an academic institution that provides our students with a quality education. U.S. News and World Report ranks us as a Top 50 Midwest Regional University, and our online MBA program is ranked as a Top Online MBA program in Ohio by Online MBA Today. The program can be completed in as little as 12 months.
Getting your MBA from Walsh can help you take your career to the next level. Learn how we can prepare you for successful leadership.
- Creativity in Business: Why Is It Important?
- Networking Best Practices: 10 Ways to Improve Business Connections
- Top Resume Tips for MBA Grads
- Forbes, “The Top 10 Most In-Demand Skills For the Next 10 Years”
- Graduate Management Admission Council, Corporate Recruiters Survey 2022 Summary Report
- LinkedIn, “LinkedIn 2023 Most In-Demand Skills: Learn the Skills Companies Need Most”
- Payscale, Average Analytics Manager Salary
- Payscale, Average Business Intelligence Manager Salary
- Payscale, Average Data Science Manager Salary
- U.S. Bureau of Labor Statistics, Data Scientists
- U.S. Bureau of Labor Statistics, Operations Research Analysts
- World Economic Forum, The Future of Jobs Report 2020