Consider getting an MBA if you want to advance professionally, change industries, or earn a high salary. Business operations, marketing, finance, administration of healthcare, human resources, and technology management are common career paths for MBA graduates. Let’s discuss some careers that MBA graduates should consider.
Read More: What Can I Do With An MBA and No Experience? How to Get a Job?
Key MBA Career Benefits
Boost Your Salary
The Graduate Management Admission Council, which creates the GMAT exam, found in its MBA.com Prospective Students Survey that 38% of applicants seek a business degree to increase their salary.
The average MBA salary varies by region and by the university. Within three years of graduation, Stanford MBA graduates earn the highest average MBA salary in the world, which is over US$222,000.
With an MBA, you can earn a lot anywhere in the world. Indian IIM Ahmedabad graduates can anticipate earning about US$192K in their first three years of employment, while INSEAD MBA graduates typically make US$188K.
Accelerate Your Career
Furthermore, a career acceleration guarantee is provided by an MBA. Graduates can advance into managerial and leadership positions thanks to the authority and reputation of the degree.
35 percent of MBA.com registrants claim that their desire for a senior position was the driving force behind their application.
A promotion may result in a raise in pay, but it also gives you the opportunity to assume more responsibility and control over your work. You can use the communication and leadership skills you’ll gain from your MBA by moving up to management positions.
Switch Career Track
Many MBA students are career changers who want to use their degrees to start a new career in a different country or industry. 30% of MBA.com users register with the intention of attending business school and finding employment abroad. Additionally, some students who pursue an MBA “Triple Jump” by simultaneously switching industries, jobs, and locations.
Launch Your Own Business
Does becoming an entrepreneur require an MBA? No, but it can undoubtedly be useful. According to GMAC surveys, one-fourth of MBA candidates want to launch their own businesses.
Entrepreneurial graduates are helped to launch their own businesses by MBA specializations in entrepreneurship, business school accelerators, and incubators.
Build Your Network
You’ll find a group of motivated, like-minded people from all over the world in your MBA class: once you graduate, this could prove invaluable. In addition to your immediate cohort, you join a vast global network of alumni, who are equally likely to offer you assistance or counsel when you need it.
Get A Return On Your Investment
It’s critical to evaluate your MBA’s return on investment (ROI) given its expense. The good news is that you can anticipate making a significant return on your investment soon after graduation given the high salary you can anticipate earning with an MBA.
However, MBA ROI is about more than just a person’s salary. Each MBA candidate will have a unique set of professional objectives, so what ROI looks like for each individual will vary.
The MBA keeps your options open for a variety of career paths while also assisting you in succeeding in the one you ultimately choose.
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Jobs You Can Get With An MBA
An MBA teaches general management and leadership skills that can be applied to careers in a variety of industries. Many businesses also look for management professionals with expertise or experience in particular fields. Here are a few examples of jobs where people with MBAs are frequently preferred.
Accountant
Accountants work with the financial data of an organization to ensure that all data and records are accurately maintained. They examine financial operations, create reports, and make recommendations on how to effectively manage money after identifying risks and opportunities.
They might prepare tax returns, budgets, or audits. Some accountants keep an eye on investments and other assets or offer advice. Most accountants are also Certified Public Accountants (CPAs), which is a qualification.
IT Manager
IT managers decide how computer-related systems are implemented within an organization. To choose the right hardware and software, they evaluate the requirements of the company. The security of networks, systems, and data is increasingly being ensured by IT managers.
To achieve the objectives of the organization, IT managers in some businesses might also collaborate with a team to create new software applications or information management systems.
They might manage and direct staff members responsible for maintaining the effectiveness and updating of computer systems.
Human Resources Manager
All activities related to hiring, placing, and conducting interviews with candidates are planned and managed by human resources managers. They might be responsible for choosing and running employee benefit programs.
HR managers may also oversee employee training for job duties and lead training initiatives like those for inclusion or the prevention of sexual harassment.
The company’s executives and human resources managers frequently collaborate to plan long-term talent development strategies. They could also discuss issues like the budget, pay, and salaries with other departments.
Financial Analyst
In order to gain insight into potential issues that could impact investments, a financial analyst may examine investments like stocks and bonds or analyze economic trends. Reports are also produced by them for use by shareholders or corporate executives.
Financial risk, fund management, securities analysis, and portfolio analysis are some of the areas in which some financial analysts are experts. Advanced training and experience are needed in these fields. These positions or career advancement at higher levels may be made possible with an MBA.
Management Analyst
A management analyst is in charge of making sure a company runs smoothly and effectively. They examine processes and practices to see if any adjustments or enhancements are required. Moreover, they assess issues and offer suggestions for fixes.
A management analyst’s job requires them to collaborate with other employees. To understand processes and issues, they may consult with other department heads or employees. Making proposals and reports is another crucial aspect of the job.
Project Manager
Planning, budgeting, and overseeing resources and staff are just a few of the many responsibilities that project managers assume in managing a project. In addition to team members, suppliers, and subcontractors, they must communicate with other managers or company officers.
Project managers must be able to analyze a project’s requirements, plan a schedule, break the project down into manageable phases, assign duties, and achieve predetermined goals. Both being able to see the big picture and paying attention to details must come naturally to them.
Final Words
When hiring or promoting employees, employers frequently consider both education and experience. Getting an MBA might qualify you for management-level jobs and could potentially positively impact your salary. The possibilities go far beyond this list. The opportunities for your future are truly endless if you have an MBA.
