There are two ways to choose the Tech MBA specialisation: popularity among tech professionals (personal preferences) and real market demand. This guide focuses on the latter because putting yourself on the wrong career path doesn’t make sense.
Now, what exactly drives such a growing demand for specialised tech leaders?
The convergence of business and technology in the modern workforce is driven by digital transformation, automation and data-driven decision-making. Businesses now rely on emerging technologies such as AI, cloud computing, cybersecurity and big data.
This shift has created a growing demand for professionals who can bridge the gap between technical expertise and business strategy, making Tech MBAs and hybrid skill sets more valuable than ever.
For instance, it is estimated that out of 2,2 million tech-related jobs in the US and UK markets, 30-40% either benefit from a Tech MBA or require one. This estimation is based on the total number of jobs that require a technology leadership program certificate.
Here is the breakdown to get a better view of the market trends:
These roles require a perfect blend of technical skills and business acumen. And only a Tech MBA provides such a mix.
A Tech MBA bridges technical expertise and managerial decision-making by equipping professionals with advanced technological knowledge and business acumen. In other words, it helps tech-savvy individuals develop leadership, strategic thinking and financial management skills.
One of the key requests of a technology leadership role is aligning innovation and technology with business objectives. In some industries, technology leaders are hired specifically to drive digital transformation—a process closely aligned with business objectives. In both instances, however, Boards expect tech managers to help them make data-driven decisions. So if you don’t possess the necessary business acumen, you can’t possibly know what data to fetch in the first place let alone translate them into actionable insights.
That said, there are two key questions you must ask yourself now:
and
You shouldn’t pursue it if you don’t aim for a technology leadership role. However, if you do, the answer is simple: Yes, you should. And here’s why.
When we analysed the job market, it immediately became clear that there is a rising need for leaders who can navigate digital transformation. There are still entire industries that haven’t even started the process but are desperate to get the ball rolling.
Here’s a list of the key laggards:
These industries are struggling with digital adoption for various reasons:
But should you decide to pursue a tech leadership career in these industries, this is what you can expect as key challenges (and the underlying reason for the rising demand as well as slow adoption rate):
And that’s just digital transformation.
The rapid growth of AI, cloud computing and cybersecurity is reshaping industries and creating a strong demand for leaders who can integrate these technologies into business strategies.
As companies invest heavily in these areas, they require Tech MBA graduates who can oversee technology adoption, manage risk and align innovation with business objectives.
Here are some stats to get a better sense of what is going on in the AI sector alone:
Therefore, if you are an:
You should definitely consider a Tech MBA.
Also, there is one other largely overlooked reason to pursue a Tech MBA.
This section will break down the leading specialisations and the roles they prepare graduates for.
Right now, there are well over 13,000 job ads on Glassdoor and Indeed alone for Chief Technology Officer, IT Director, Head of IT and VP of Engineering roles worldwide. Besides a strong technical background, candidates must also know their way around the:
To the best of our knowledge, only one Tech MBA is specifically designed for well-rounded technology leaders—unlike programs focused more on AI/ML, innovation and finances. It is also well-suited for technology leaders looking to drive digital transformation and upgrades.
The faculty, in this case, consists of active senior leaders (CTOs, Group CTOs, VPs of Engineering, IT Directors, Heads of IT, CEOs, CIOs, Entrepreneurs, Fintech and Big Data tech executives and similar). Judging by the Trustpilot reviews, it delivers.
There are 331,000 active job ads in the US and UK seeking technology leaders specialised in AI and/or ML. In the UK, for example, the salary range for AI Engineers is between £70,000 to £120,000 with some sources reporting up to £170,000 for top roles.
The core skills the companies are looking for are:
Possible career paths (ranked by the demand on the job market):
The top 3 Tech MBA programs with AI/ML leadership specialisations are:
These programs stand out for their comprehensive AI/ML curricula and emphasis on developing leadership skills in the context of emerging technologies.
Data-driven decision-making is now standard practice and businesses need professionals who can extract insights from data. To be effective in that role, you must possess these core skills:
In terms of potential career paths, we are talking about:
The top three choices here are:
Cybersecurity job postings in the US alone are projected to grow by 33% from 2023 to 2033. One of the drives, besides the obvious threats, is rising regulatory pressure on businesses to manage digital security. Salaries for cybersecurity specialists range from £50,000 to £100,000 in the UK for example.
That’s the reason why three core in-demand skills are:
This means that you can pursue these roles:
If this is where you see yourself in the near future, then maybe you should consider one of these three programs:
Businesses are migrating infrastructure to cloud platforms at an accelerated rate. Some estimates are that cloud computing is expected to be a $1.24 trillion market by 2028. The process requires leaders with developed skills in:
With the Tech MBA certificate in your pocket, it is going to be that much easier to land a job as a Cloud Strategy Consultant, Digital Transformation Director or Cloud Architect. If you are aiming for a Cloud Architect role, for example, you can expect anywhere between £80,000 to £120,000.
The type of program that you should consider if you want to focus solely on cloud computing and infrastructure is, for example, EU Business School – MBA in Cloud Computing.
Companies prioritise digital innovation to stay competitive. It explains the constant need for tech-savvy product managers capable of aligning technology with business objectives. The core skills they are looking for are:
This can take you on a career path to any of the following roles:
The recommended Tech MBA in product management is the CTO Academy’s Digital MBA for Technology Leaders. The curriculum covers the entire life cycle and lectures are delivered by senior leaders with extensive experience in innovation, development and business applications.
Start by assessing personal strengths and interests.
Do you prefer strategic decision-making or technical problem-solving?
Or are you more interested in security, data or innovation?
What about industry? Is it fintech, healthcare, e-commerce, etc?
Do you prefer on-campus programs, online or hybrid?
What is the budget? Are you self-financing or you can get your company to pay for it?
Refer to this guide for the list of the main considerations when choosing a Tech MBA program.
It is a major step because you’re transitioning from a purely technical role to an executive position where soft skills are equally important as technical. The first thing that will change is your salary.
Tech MBA graduates earn 20-40% more in leadership roles. According to Prodigy Finance, for instance, MBA graduates often experience a 50% to 100% increase in their pre-MBA salaries, underscoring the substantial financial benefits of the degree. Research.com, on the other hand, reports that MBA graduates entering technology roles have reported median base salaries of $140,354 from the University of Washington and over $180,000 from Stanford, with specialized roles drawing average salaries ranging from around $120,000 to upwards of $270,000.
But the key benefits of a Tech MBA for career growth extend far beyond income. The horizon expands and as a graduate, you become perfectly capable of integrating your technical knowledge with business skills. This is crucial for navigating both the technological landscape and the broader business environment. It opens various roles such as Product Management, Data Analytics, Digital Transformation Consulting and AI Strategy for instance.
You will also develop critical leadership skills essential for managing teams and driving organisational change.
For a detailed overview of the career impact of a Tech MBA, refer to this guide.
However, arguably the most important benefit is networking and industry connections. Take CTO Academy’s Digital MBA for Technology Leaders for example. 9 CTOs, 1 Group CTO, 1 Group CIO, 3 VPs of Engineering, 13 CEOs/CIOs/COOs and 13 Senior Leaders as subject experts deliver lectures. During the course, these same lecturers often participate in live online sessions (eg, Peer-to-Peer, CTO Shadowing, etc.) where you can directly engage them.
Moreover, on a dedicated Slack for members, there is the #jobs-offered channel, for instance, where members and CTO Academy moderators regularly post interesting jobs. So it’s basically a tight-knit community where it’s easy to get not only endorsement but 24/7 assistance in daily operations from fellow tech leaders who have been in that same predicament and know how to best handle it.
In your future career, this can easily turn out to be your most valuable wildcard, remember that.
However, if you have additional questions and/or want to make sure that the Tech MBA is a good fit for your career, Book a Discovery Call and explore your options with our CEO, Andrew Weaver.
90 Things You Need To Know To Become an Effective CTO
London
2nd Floor, 20 St Thomas St, SE1 9RS
Copyright © 2024 - CTO Academy Ltd
