Earning a professional business degree or an MBA can spell out several expected and unexpected benefits for your career.
People prefer an MBA degree because of its numerous and higher career potentials. With an MBA degree added to your qualifications, you become more marketable to many employers.
Although, there’s a false notion that an MBA is the choice of people who want to get into a finance career, today, most industries hire people with these degrees. Now, MBA degree comes with numerous specializations such as MBA in HR, Administration, Advertising and Sales Promotion, Banking and Finance Management, Customer Relationship Management and many more.
You can benefit in almost every industry from the skills you acquire in an MBA program.
Here I have outlined some of the advantages of MBA which includes;
1.Skill development
The knowledge in terms of hard and soft skills is applicable across industries. After earning an MBA you become more versatile and skilled in your job irrespective of the industry you work in. Unlike specific advanced degrees such as a medical degree, an MBA can help you make the transition through an array of careers in your life.
2.Strategic thinking
The strategic thinking skills which you learn during an MBA program apply not only to businesses but also to your personal life. You’ll be able to think outside the box but and work out multiple options while handling a problem.
3.Better management
With a sharpened management acumen, you can apply such skills to manage your professional and personal life. Besides this, the financial skills taught during the MBA coursework helps you to become better at managing finances, assessing risk, economic changes and its impact on your business.
4.Increased Network
During your MBA, you are likely to come in contact with your classmates and alumni who may form or already have an existing network of colleagues. This network can have people from different industries spread across the world, which gives you a chance to connect and land better jobs in the future.
5.Higher income
One of the major reasons and the best advantage of MBA is the higher earning potentials. Most individuals look to pursue an MBA to reach a new pay grade. A lot of this is linked to the fact that MBAs go on to take a leadership role and are expected to manage different resources.
What can you accomplish with an MBA Degree?
There are limits to what you can achieve with an MBA Degree. The allure of an MBA lies in the skills received during the program which include a solid understanding of management and business, communication skills required to be an effective leader, the chance of networking and a career opportunity across an array of job functions & industries.
According to a survey by the Graduate Management Admission Council, students from full-time MBA programs are employed in eight different industries, with the job functions of the students ranging from general management to consulting, operations, logistics, IT, accounting, finance and more.
It speaks about how diverse the career path of an MBA can be and is proof of the applicable employability to all types of businesses.
Using professional guidance offered by business schools, MBA students can identify relevant employment opportunities which are the right match for their skills and talent.
Transitioning from the current career path to another becomes easy with the transferable skills, network connections and hand-on experience which one receives during an MBA program.
List of jobs one can pursue after an MBA
1.Marketing Manager
Marketing managers work to develop pricing strategies, manage budget and sell the products of a company.
Specialization in Marketing is preferred but employers can also hire candidates having a background in science as well.
2.Health Services Manager
The job of a health services manager is to ensure that the company works following government guidelines. They also oversee the work of clerical workers, technicians and doctors to ensure things run smoothly.
A specialization in Healthcare Informatics or management is required for this field.
3.Operations Manager
A Business operations manager deals in supply chain and operations management of a business to make the operations more efficient.
A specialization in Operations is preferred if you are routing for this field.
4.Finance Manager
A Finance manager overlooks the financial activities which involve managing cash and financing transactions including the budgeting process.
A specialization in finance will allow you to take up this field.
5.Information Systems Manager
An Information systems manager is responsible for planning and coordinating activities related to IT to make sure that the IT infrastructure of the company is sound.
Specialization in Information technology or information systems is preferred.
6.Investment manager
Investment fund managers provide advice related to the type of investment, individuals and organizations can pursue. Investments can be made in financial markets, real estate etc.
Specialization in Finance is considered a major plus.
7.Management Consultant
Consultants or Analysts work to figure out how to improve a company’s efficiency and work on cost reduction.
Specialization and understanding of project management are critical to work as a Consultant.
8.Operations Research Analyst
The Analyst’s job is to work on creating production schedules, manage the company’s resources and establish pricing structures.
A specialization in supply chain or operations management is required for pursuing this field. The number of career choices don’t end here. There are plenty of other opportunities you can take up to utilize your management skills.
Pursuing an MBA means pursuing your Own Business
An MBA also paves the way for pursuing an entrepreneurial career i.e. those individuals who desire to be their boss can create their venture.
Setting up your own business can be challenging especially as you need to manage different domains successfully. MBA programs provide students with a comprehensive look at various aspects of the business which range from finance, management to Human Resources.
Working knowledge of topics such as budgeting, sources of finance along with management skills can give you a boost when it comes to setting up your own company.
Let’s Conclude
Adapt quickly to the ever-changing market conditions!
The business world undergoes frequent change and requires you to stay updated at all times.
With adaptability being critical at work, an MBA plays an essential role in your long term career success. As it is valued across industries, it can help the holders of MBA degrees to adapt to the uncertain and changing circumstances.
For example, Covid-19 pandemic is impacting different industries and jobs. Having a professional degree such as an MBA enhances your ability to pivot in a direction which will enable you to continue and manage your professional development.
As mentioned earlier, having an MBA opens the door to individuals from both technical and non-technical backgrounds to pursue and succeed across an array of job functions, industries and career paths.
