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Learn about MBA Operations Career Scope, Salary, and Top Business Schools

With the boom of e-commerce and advancements in manufacturing and production technology and processes, businesses require a new and improved form of operations management. This has led to the creation of an MBA in Operations management.

Some business schools offer MBA specializations in operations, while others offer related programs in fields such as logistics and supply chain management.

An MBA in Operations Management can prepare students to handle different aspects of a business such as planning, manufacturing, production or providing services, with an attractive salary package. The average salary range of the best business schools in operations management is between $60,000 – $135,000.

In this article, we take a look at the top 10 best business schools for an MBA in operations management.

 

Best-business-schools-for-operations-management

 

The article will cover the following aspects related to MBA in Operations management:

 

MBA In Operations Management: Best Business Schools

Listed below are the top 10 best business schools for operations management according to the US News report. The ranking is based upon various indicators such as placement success, quality of the program, class profile, and many more.

Here are the best business schools for MBA in operations:

 

In this article, we discuess the first five best business schools for operations management. Read Part 2 of the article to learn about the next five  best business schools for MBA in operations.

 

Employment and salary statistics (class of 2019) 

The following table represents the best business schools for an MBA in operations with their employment and salary statistics: 

MBA in Operations – Best Business Schools

Mean Salary in Operations

Median Salary in Operations

Salary Range 

Class Size 

Operations Function Hire (%) 

MIT Sloan 

$130,901

$130,000

$82,500 to $175,000

404

 13.9%

Tepper business school  

$130,100

$126,033 

N/A

236

5.90%

Krannert School of Management 

$90,445 

$90,000 

N/A 

46 

24% 

Stanford University 

$140,733

$142,200 

$145,000 to $135,000 

418

1%

Ross School of Business 

$136,973 

$135,000 

$100,780 to $152,500 

400 

2.4% 

Wharton School of business  

 N/A

 $130,000

N/A 

 863

 3.0%

Scheller School of business  

N/A 

N/A 

N/A 

170 

13% 

Kellogg School of management  

$129,217

$137,500

$60,000 to $275,000

478

2% 

Columbia University  

N/A 

$135,000

$65,000 to $145,000 

753 

2.10%

Fisher College of business 

$105,000

N/A 

N/A 

77

N/A

 

Learn about best business schools in Finance, Marketing, Business Analytics, Supply chain Managemnt, Consultancy, and Energy.

 

MBA in Operations Management: Scope

An MBA in operations management personnel is responsible for overseeing the company’s operations by ensuring they’re efficient and effective. They are the backbone of the company’s day-to-day operations and help in delivering quality products/services at the right cost and on schedule.

If we must describe it in one sentence, then operation management is all about executing the corporate strategy on the ground.

A graduate with an MBA in operations management is primarily concerned with planning, organizing, and supervising in the context of production, manufacturing, or providing services. It is a delivery focussed discipline that requires analytical as well as organizational skills.

Salary and Employment statistics

According to the 2019 GMAC Corporate Recruiters Survey, 26% of employers surveyed plan to hire MBA graduates for operations roles in 2019. Organizations in the energy/utility industry and manufacturing industries plan to place 38% and 47% new hires into operations roles.

Other major industries hiring MBA graduates for operations roles include non-profit/government (26%), product and services (29%), and healthcare (30%).

According to the U.S. Bureau of Labour and Statistics, the mean annual wage for an operations manager for last year was $123,880. The 75th percentile pay figure is 157,120.

Learn about factors affecting your Post-MBA Salary in 2020.

Job Profile

It’s a common misconception that MBA in Operations management leads to working in the only manufacturing industry, which is not valid.

An MBA in operations is suitable for roles in diverse sectors such as wholesale trade, e-commerce companies, pharmaceuticals, and many more. Common job titles offered to MBA graduates in operations include:

    • Purchasing manager
    • Inventory coordinator
    • Warehouse operations manager
    • Logistics/supply chain manager
    • Operations consultant
    • Sales or marketing operational manager
    • And many more

Now that we know the scope, salary and employment statistics, and job profile after completing an MBA in operations, let us take a look at the best business schools for operations management.

 

Intrested in a career in Operations? The top business schools can give you a great boost in acheiving your aspirations. And a great GMAT score can help you in strengthening your application to these top business schools.  Sign up for our free trail. We can also help you with a personalized study plan and give you access to quality online content to prepare.

Now that you are aware of the scope, salary, and career options for MBA in operations, let us look at the top 5 best business schools in detail. Read Part- 2 of the article for the next 5 business schools for operations management. 

Best Business schools in Operations #1 MIT Sloan

MIT-Sloan-MBA-operations

Around 13.9% of the class chose careers in operation/project management function with a mean salary of $130,901. The salary range for students selecting jobs in operations is $82,500 to $175,000.

Operations Faculty at MIT Sloan

They have an excellent pool of operation management faculty that are globally recognized. Zeynep Ton, Associate Professor for Operations Management, was named among one of the 20 winners of 2018’s “Ideas Worth Teaching” award by Aspen Institute, for her course “Management of services: Concepts, Design, and delivery.

Another faculty that made the news is Greg Distelhorst, professor of global economics and management, created a how-to list on looking out for supply chain blind spots.

Core Curriculum

The core curriculum at MIT Sloan is into Operations research/statistics, which includes optimization methods with a focus on modeling, analysis and solution techniques, data mining techniques, system optimization and analysis for operations, consulting issues in operations, different models related to optimization with a seminar in operations research.

MIT Sloan also offers a dual degree program known as leaders for global operations that provides students with either an MBA or a Master of Science in management plus a Master of Science from one of six participating departments in the school of engineering.

Experiential Learning

MIT Sloan provides a flexible learning program where, after your first- semester core, you have three semesters to create a program that’s right for you.

It also offers Enterprise management where the program helps students to develop a holistic approach to solving the most crucial challenges of today’s business world. The EM Track allows students to participate in projects from real companies and train students for careers in a large organization, which includes the operational area of management.

Operations Club

The MIT Sloan operations club is for students interested in operations management and offers industrial visits, guest lectures, and competitions to its members.  The Online Operations Simulation Competition (OpsSimCom) is a three days event that provides the students to compete with the top business school students around the world to see who can run the most profitable factory.

Recruiting partners

Recent MIT Sloan graduates interested in manufacturing have pursued a career in Boeing, Honeywell International, Nissan Motor Company, and Cargill Inc. Students that were interested in operational consulting are in firms such as McKinsey & Company and Booz & company.

 

Here are few MIT Sloan related articles on MIT Sloan MBA Application Tips, GMAT Score required , Tips on MIT Video Statement, and MIT MBA Essay Tips. 

Best Business schools #2 Carnegie Mellon University (Tepper School of Business)

Tepper-MBA-in-Operations

Around 5.90% of the class chose careers in the operations function. The mean salary is $130,100.

Core Curriculum

Tepper School of Business focuses on two frontiers, i.e., Building analytical and leadership skills. Both are essential from an operational view. To solve an operational challenge, you should be able to forecast and provide solutions for which developing your analytical skills set is necessary.

A wide variety of electives available for an MBA in operations, students explore topics such as supply chain management, operations strategy, risk analysis, demand management, healthcare, six sigma tools and techniques, and many more.

Apart from this, they also have capstone projects and operations research concentration.

MBA Operations Research Concentration

During the 1950s, researchers at the university pioneered a new approach to business management called management science. It focuses on practicing the application of quantitative decision-making techniques and analytics by using management models, which are now followed by leading B-Schools.

This concentration provides a powerful career advantage in which students learn the framework for assessing dynamic and complex variables from the strategic decision perspective. It focuses on Optimization models by using various tools, that help to see through the problem and optimize and improve the business situations.

MBA in Operations case competition

Tepper School of Business organizes the nation’s capstone MBA Operations case competition where 20 of the most elite business schools from around the world participate in the same.

Recruiting partners

The major recruiting partners of the Tepper school of business are Amazon.com, Apple Inc., Bank of America, Intel Corporation, Johnson & Johnsen, Target corporation, and many more.

Did you know Tepper MBA is now a STEM Designated Program? Read Here 

Best Business schools #3 Purdue University – West Lafayette (Krannert)

Around 24% of the class got placed into operations function with a mean salary of $90,000. 

MIT-Sloan-MBA-operations

Krannert Research Centres

Krannert School of Management has research centers that focus on Operations Management. They have affiliation with The Global supply chain management initiative that incorporates cross-disciplinary research from manufacturing, IT, Marketing, sales, product design, and finance.

It studies various subject titles such as channel partners, supply and demand management, sourcing and procurement, and logistics management.

The program provides financial and intellectual resources to support operation and supply chain management.

Krannert Operations Club

The primary aim of the operations club is to help students gain industry exposure to broaden the understanding of operations beyond the traditional classroom setting. Various events are held, such as plant tours, workshops, case competitions, and operational guest speakers from industries to provide insight into real-world opportunities.

INFORMS Student chapter

INFORMS student chapter is a society at Krannert school of management that represents professionals in operations research and management science. The Purdue Chapter aims to provide a community at Purdue for students interested in operations management and promote discussions about relevant topics in operation management and management science.

The society also helps in providing career development and education opportunities for students.

Operations and Supply Club

The members of this club gain exposure in the field of operations and supply management by networking with companies for future career opportunities. The club also does volunteer activities, fundraising for charity, and creates awareness regarding the supply chain as a career path for local high schools.

Recruiting partners

Some of the top hiring companies for Krannert batch 2018 were Accenture, Amazon, Ford Motor Co., Intel, Mastercard, Staples, and many more.

Learn more about the Krannert School of Management  MBA class profile, employment report and salary. 

Best Business schools #4: Stanford University – GSB

Around 1% of the class got placed into operation function with a mean salary of $140,733 ranging between $145,000 to $135,000

The MBA program stands out because of its focus on general management. The two key things about Sandford GSB is its faculty members and alumni community.

Stanford-MBA-operations

Operations Management Faculty at Stanford GSB

The faculty in the academic area of operations, information, and technology employ various methods from the field of game theory, computer science, operations, probability and statistics, and econometrics. The faculty conducts cutting edge research in the area of:

  • Designing contracts and sourcing channels to create shared value
  • Learning and hierarchy’s in-service system, which includes designing and operating service systems to process tasks differently.

Value chain innovation initiative

This initiative by Stanford brings together faculty, staff, practitioners, and students to excel in the theory and practice of global value chain innovation through intensive research and knowledge dissemination.

Global Experience requirement

One of the unique elements in Stanford’s MBA program is the global experience requirement were all MBA students participate in one of the following:

  • Ten days of global study trip or Stanford exchange program
  • The three-week global management immersion experience
  • A week-long Global seminar

 

Here are few articles on Stanford MBA Program:  Class Profile, MBA Essay tips, GMAT Score required, and Steps to get into Stanford MBA  program.

Best Business schools #5: The University of Michigan – Ann Arbor (Ross)

With 2.4% of the class got placed in operations management with a salary range of $100,780 to $152,500. The median signing bonus offered to graduates is $25,000.

Michigan-ross-operations-program

Technology and Operations department

This department focuses on utilizing technology to transform processes and create value that lasts. The faculty merges the theory and practice to understand the science of value creation alongside technology.

Operations Management Faculty

The faculty helps in learning the importance of operations management and how it affects every part of an organization. They teach you to create social value through operations management by using an action-based teaching process.

The course is structured, keeping in mind the framework of systematically examining and understanding operations management issues. They incorporate various tools and practices that are useful in managing production and manufacturing systems.

Did you know Michigan Ross is going to launch STEM Track for its Full-Time MBA? Read Here.

Tauber Institute for global operations

It provides you access to a deep pool of academic, peer, and industry expertise. It’s a partnership between the Ross School of Business and the college of engineering at the University of Michigan.

MAP Projects at Ross

Multidisciplinary Action Projects or MAP projects are the premier experiential learning opportunity available to Michigan Ross graduates. Lasting seven weeks and taking place just before the summer internship, MAP projects allow students to hone their analytical, project management, and leadership skills.

Students tackle real challenges faced by businesses and gain experience with projects from virtually every sector and industry.

Strategic Operations Club

This club develops and maintains a relationship with firms that are seeking talented professionals in the operations field. It is developing leaders that can meet the future challenges of the dynamic business environment.

Recruiting Partners

The major recruiters are General Motors, Ford, Microsoft Corp., Amazon, Wal-Mart, The Procter & Gamble Co., and many more.

Here are few related articles on Michigan Ross MBA program: Class Profile, GMAT Score Required, and  MBA Essay Tips.

In part 2 of this article, we will cover the next five best business schools for operations. You can write to us at acethegmat@e-gmat.com with your questions.

Want to pursue an MBA in Operation Management? A good GMAT score can help you get an admit to the top business schools. Start your GMAT preparation with our Free Trial today. 

MBA in Operations Management FAQs

What are the career options after MBA in Operations?

Some of the job titles pursuing an MBA in Operations are:
1. Project Manager
2. Logistic Manager
3. Operations Analyst
4. Production Manager
5. Purchasing Manager

What is the course structure for an MBA in Operations Management?

Some business schools offer MBA specialization in operations, while others offer related programs in the field such as supply chain management and logistics.

What are the different types of MBA Specialization?

There are five types of MBA specialization:
1. MBA in Finance
2. MBA in Marketing
3. MBA in HR
4. MBA in Operations
5. MBA Entrepreneurship

Why should I pursue an MBA?

There are countless benefits to pursuing an MBA. Here are some of the reasons why you should get an MBA degree:
1. High demand for MBA graduates
2. More salary
3. Career growth and Transformation
4. Networking opportunities

Is an MBA worth it?

An MBA degree is only worth the time, effort, and expense you put into it. Thus, while asking yourself is an MBA worth it, you need to take into consideration the various cost involved while pursuing your MBA.
Read this article to know the various cost involved and the ROI of an MBA degree.

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