The Master of Business Administration (MBA) remains the most sought-after postgraduate credential for students in the United States and around the globe. In 2022, graduates from top business schools can expect a 13% increase in median base salaries, and the hiring rate is expected to remain above 90% in all strategic regions and industries.
Even before the COVID-19 pandemic, the number of online Master of Business Administration (MBA) programs was increasing at a rate of 85 per cent. More graduate students in the United States are enrolled in online MBA programs than in traditional, on-campus MBA programs for the first time ever.
But don’t fret too much about the future of on-campus activities: The Association to Advance Collegiate Schools of Business (AACSB) reports that while full-time MBA programs are experiencing a decline in enrollment, part-time and online MBA programs are seeing growth.
The market’s continued health bodes well for recent MBA graduates looking for work. Perhaps more pressing for recent MBA recipients is the question of what kinds of careers are best suited to their training. There is a wide variety of career options for MBA graduates, and it can be difficult to narrow down the possibilities.
Best jobs for MBA graduates
An accountant, also known as a certified public accountant (CPA) if they have earned that designation, keeps track of money for businesses and individuals. They ensure the integrity of all financial documents and timely submission of tax returns and statements on behalf of businesses and individuals. They aid in cost cutting, efficiency enhancement, and reporting their findings to higher-ups.
A logistics manager is responsible for analyzing and coordinating the company’s supply chain. They are responsible for overseeing the acquisition, distribution, and delivery of all products sold by the company.
Companies can boost their bottom lines by carefully managing their global supply chains. Most multinational corporations have operations and suppliers spread across multiple continents, necessitating the services of supply chain management specialists. Operations and supply chain management are common areas of study for MBAs working in logistics.
Consultants, also known as management consultants, management analysts, and business consultants, help businesses solve problems and implement new strategies. They plan for future changes like new regulations or demographic shifts in order to increase efficiency and profits.
They can also provide CEOs, CFOs, and other executives with specialized advice and assistance in increasing employee productivity. Businesses that can provide this kind of job have multiple clients that they service on a project-by-project or contract basis. Transportation, retail, and health care are just some of the industries where consultants typically focus.
A financial analyst, also known as a securities analyst, is a professional who advises companies on making financial investments. Investments such as stocks, bonds, and mutual funds are tracked and evaluated. After that, they advise their customers on how to best position themselves for future gains from those investments.
A financial analyst for a fast food chain, for instance, might help determine the best spot for a new restaurant by projecting the rise or fall in value of the property on which it will be built. Many financial analysts, like consultants, serve multiple employers. Some also consult with individual investors. Financial analysts typically hold an MBA with a finance concentration.
Managers in this field oversee research projects, introduce new technologies, install and update software, and ensure the safety of company networks. In addition, they set company-wide technical standards and ensure that everyone adheres to them.
If employees are allowed to bring their own laptops or tablets to work, the IT manager may mandate that everyone use the same, up-to-date antivirus software. By keeping websites user-friendly and interesting, IT managers aid in brand promotion. This position is in high demand because information technology is used by businesses of all sizes. Information technology managers typically hold an MBA with a concentration in computer science.
Leadership roles in entertainment, sports and fashion companies
Jobs in the exciting fields of sports, fashion, and entertainment are plentiful for MBA graduates. MBA graduates often find positions as marketing managers in these fields, where they can put their analytical training to use. Moreover, an MBA is required to identify the most lucrative services and products that consumers like moviegoers, sports fans, and fashionistas prefer.
Health and medical services management careers
The enormous logistical challenges posed by the COVID-19 pandemic have prompted health care and medical service providers to realize the importance of having experienced business leaders at the helm. 2 A health services manager with an MBA has the complex analysis and data-driven decision-making skills necessary to oversee daily operations, manage finances, and minimize costs while maximizing quality in such organizations.
Director of business operations
Business operations managers with an MBA are responsible for a wide variety of tasks, including the analysis and coordination of an organization’s supply chain, the refinement of processes for transforming inputs into outputs, and the improvement of the cost-efficiency of bringing products to consumers. To oversee the transformation of operational procedures as businesses move to remote work or online sales, management analysts with an MBA are in high demand.
Any sizable business with a product or service to sell needs someone whose job it is to figure out how those sales can be maximized. A sales manager is in charge of overseeing all sales operations and staff. Their ultimate objective is to guarantee that sales achieves all company targets. The manager will be in charge of setting quotas, recruiting new sales staff, coordinating with other managers at the regional level, and maintaining regular client communication.
Operations Research Analyst
An operations research analyst collaborates with teams across an organization to provide input on resource allocation and financial planning. Fund allocation analysis and recommendations, production schedule development, supply chain management, and product and service pricing are just some of their primary responsibilities.
Computer and Information Systems Manager
When it comes to actual implementation, the computer and information systems manager is more like “boots on the ground” than the IT director. Managers in this role are responsible for overseeing all IT operations, from setting deadlines and assigning resources to monitoring progress toward goals. They have open communication with the company’s IT staff about their roles, objectives, and concerns. The manager is also responsible for ensuring the effectiveness of the existing technological infrastructure.
Investment Fund Manager
An investment fund manager, also known as a portfolio manager, oversees a company’s stock, real estate, and other market investments. They can also offer the same services to the company’s employees. Some jobs may also involve providing counsel on strategic transactions like mergers and acquisitions.
Personal Financial Advisor
People hire personal financial advisors so they can get advice on how to best save and invest their money. They consult with customers to learn about their financial objectives and offer advice. When it comes to retirement, estates, and college funding, some personal financial advisors really shine. Clients may also rely on them to make investment decisions.
An Administrative Manager is someone who makes sure a company is managed efficiently and in an orderly fashion. He is in charge of providing operational support by supervising employees and developing, coordinating, and launching new administrative structures.
An administrative manager’s responsibilities include supervising support staff and keeping track of their work and results. Predicting needs, submitting data for budget preparation, scheduling expenditures, monitoring costs, and analyzing variances all fall under their purview, as does providing the necessary supplies and meeting the financial goal. Staffing, quality management, process management, organization, coaching, communication processes, disciplinary action, motivation of others, process improvement advocacy, and report writing are all part of an administrative manager’s toolkit.
Jobs for administrative managers in Canada typically pay around $86,683 per year after completion of an MBA program.
Managers in the marketing sector analyze data to ascertain market demand and formulate pricing policies. In order to expand into new markets, they suggest launching innovative products and services. Managers in charge of marketing do competitor analysis to ensure they aren’t losing ground. Marketing managers collaborate closely with PR, AD, and PROD teams within their organization.
The marketing director is responsible for developing and implementing the company’s marketing strategy. They oversee a group of marketers and provide final approval for all marketing plans and expenditures. Directors of marketing often collaborate with their counterparts in other departments to accomplish the firm’s overarching goals.
A company’s promotions and incentive programs are the responsibility of the promotions manager. They use their knowledge of marketing and advertising to develop advertising strategies. Incentives like discounts and freebies may be offered as part of these campaigns. Managers of promotions often collaborate with their counterparts in marketing, sales, and advertising.
Human Resource Manager
Human resource management (HRM) is a field that focuses on the planning and execution of policies and procedures related to an organization’s human resources. Managers in the HR department are responsible for a wide range of tasks, including but not limited to hiring, firing, disciplinary actions, benefits administration, employee relations, industrial relations, employment law, compliance, severance packages, and more. One of the requirements of many international MBA positions is a commitment to lifelong learning in rapidly evolving fields like labor law.
Any serious business needs to have a Human Resources Manager on staff. Financial institutions, medical facilities, academic and research institutions, technological centers, etc. Technical proficiency, the ability to analyze, interpret, and explain the legal framework regulating employment, integrity, and approachability are also essential qualities in a human resources manager.
Jobs for human resources managers in Canada typically pay around $61,000 per year after an MBA.
The administrative functions of a hospital are overseen by hospital administrators. They investigate ways to enhance healthcare delivery and establish institutional priorities. Employing and managing staff is another responsibility of hospital administrators. They might be responsible for managing budgets, making plans, and submitting updates to boards of directors.
What is an MBA?
In-depth training in business management and administration is the focus of the Master of Business Administration (MBA) program at the graduate level. It’s useful for finding work in a wide variety of industries, not just banking and finance. After completing a bachelor’s degree, this master’s program typically takes an additional two years to complete.
Earning an MBA allows you to specialize in areas like marketing, operations, analytics, or human resources within the business world. An MBA degree can open doors to better pay, more responsibility, and more opportunities in the workplace.
What are the most common MBA alternatives?
The standard length for a full-time, on-campus MBA program is two years. Some students may benefit from this approach, but others may find more help from MBA programs that provide compressed schedules, narrower areas of study, and convenient online access.
The Master of Innovation, Technology, and Entrepreneurship (MITE) program at the University of San Diego is one of the few online master’s degrees offered by both the School of Business and the School of Engineering. It’s like an MBA program, but with a focus on how to apply what you learn to the real world of technology start-ups, venture capital, and market development.
Those who want to become “intrapreneurs” within the tech industry or those who want to start their own businesses related to innovative technologies will find MITE’s emphasis on the connectivity of business and technology to be an invaluable resource.
What skills can I develop with an MBA?
Strategic thinking, economics, statistics, time management, negotiation, research, and risk management are just some of the transferable skills that can be honed in an MBA program. You can gain the necessary expertise by enrolling in a specialized program. Data management, database administration, and security controls are just some of the things you might learn about in an advanced degree in information systems.
How much money can I make with an MBA?
Earning potential after earning an MBA is context- and experience-specific. According to the 2022 Corporate Recruiters Survey, the average starting salary for new MBA graduates is $115,000. The highest reported salaries came from the fields of consulting, finance, and technology.
The average starting salary in some industries is over $145,000. Earning potential typically rises with experience for MBA professionals. The median salaries of many positions are over $200,000, including those of chief executive officer and information systems manager. Consulting professionals also report having lucrative salary reports.
Getting an MBA increases your earning potential and career options, especially for mba jobs in abroad for freshers. While careful consideration must be given to any chosen career path, an MBA degree is always a safe bet. MBAs typically take on managerial positions in a variety of industries, but it’s important to do your homework before settling on one.
A graduate with an MBA is highly sought after by employers because of the value they can bring to any company they work for after completing their degrees. Getting hired right after finishing your master’s degree is a fantastic opportunity to launch your career.
To help you decide whether or not an MBA program is right for you, we’ve compiled a comprehensive list of possible careers after graduation.