MBA in Energy Careers
- Pricing Analyst
- Energy Trader
- Director of Operations
- Business Development Manager
- Construction Project Manager
With the growth of energy resources in North Dakota, MBA degrees are in high demand. Energy companies constantly need business graduates with specializations in energy. For students who receive an MBA in energy fields, average earnings can range from $56,500 to $120,000 (Fortune.com). These top five jobs continue to need MBA graduates, so they offer recent graduates the opportunity to earn a high wage while gaining experience in the field.
1. Pricing Analyst
This position is an excellent way to get started in the energy industry. Graduates work to ensure that prices are continually updated and managed. They may lead a team of pricing analysts or work to develop new pricing strategies. Once employed, the median wage for pricing analysts is about $56,500 per year.
2. Energy Trader
An energy trader works to buy and sell shares of energy. They may purchase electricity shares, natural gas supplies, or petroleum stocks. While employed, the energy trader uses reports, analytical tools, and software programs to figure out whether the energy shares will rise or fall in value. They may use these tools to predict energy prices and forecast the demand for electricity. While this job position can be incredibly lucrative, it can also be stressful. Energy traders often work for 10 to 12 hours a day, and many trading desks are open every day of the year. On average, energy traders earn $95,800.
3. Director of Operations
The director of operations is in charge of running the management aspects of an energy company. They may work with the human resources department to hire, fire, and review employees. In the oil industry, the director of operations may be expected to oversee multiple sites every day. The director of operations may be in charge of financial analysis, revenue growth, account planning, and career development. While this job typically requires additional experience, it is a well-paid position. Employees who work as the director of operations earn an average of $120,000 per year.
4. Business Development Manager
As a business development manager, MBA graduates will be expected to find new ways to increase revenue. They may work closely with clients and seek out new customers for the business. Additionally, a business development manager may be given roles like tracking revenue, improving employee training, or other tasks. While they mainly focus on boosting sales and developing new business, the manager may be assigned other tasks as well. On average, a business development manager in the energy industry earns $114,000 annually (CBSNews.com).
5. Construction Project Manager
When a company is on a budget or a set timetable, they need someone to make sure that everything runs smoothly. It is the construction project manager’s job to coordinate the project with contractors, trade workers, vendors, and construction supervisors. The project manager must make sure that the project stays on track to meet the deadline and the budget. To succeed in this role, individuals must be able to read blueprints and understand building codes. Once someone is hired as a construction project manager, they can expect to earn an average of $89,600 per year.
Energy-related jobs are expected to grow in the upcoming years. The United States Department of Labor states that the entire energy sector garnered $502 billion in 2005. On average, there were 570,000 workers employed in the utility sector during this same time period. For ambitious students, an MBA in energy is the first step toward a rewarding, well-paid career in the energy field.