A Master of Business Administration (MBA) is one of the most renowned and useful accolades an individual can acquire in the business world. Not only does it provide students with a highly specialized level of expertise, but it conveys to prospective employers that they have the skill sets needed to excel in managerial positions.
In short, an MBA opens doors to several career opportunities across a wide array of business sectors. From finance to investment to sales, the possibilities are endless.
With that said, new MBA graduates might be wondering which paths are available and which one is best suited to their professional goals. To aid in familiarizing yourself with your options, this guide includes five careers you can pursue with an MBA.
Read on to find out which one might stand out to you.
1. Management Consultant
If you have strong critical thinking skills and love making strategic recommendations to help businesses thrive, then a career as a management consultant could be for you. These experts are responsible for conducting in-depth research on a client’s business, industry trends, and developing business proposals to present to key executives in an effort to catapult the company and its operations. They must be able to effectively compile insightful recommendations and clearly communicate them to relevant stakeholders. The skills and knowledge needed to be a successful management consultant are those you would have acquired in your MBA, making it an excellent fit. You can also check out tips to boost your consulting career here.
2. Financial Manager
As the name suggests, a financial manager is responsible for helping executives make informed and sound financial decisions for the company. In this role, you will be required to analyze financial information, manage budgets across various departments, investigate ways to increase the company’s profitability, and identify financial risks as well as strategies for mitigating them. While an MBA is not absolutely necessary to become a financial manager, it will help you remain competitive and likely accelerate your journey into a managerial position of this nature.
3. Medical and Health Services Manager
As the coronavirus (COVID-19) pandemic continues to rage on worldwide, the need for effective healthcare services around the world has never been more prominent. As a result, seeking out a career as a medical and health services manager could be both incredibly fruitful and fulfilling. The main duty of these business experts is to maximize the quality of healthcare services while minimizing associated costs.
Given that healthcare can often be a life-or-death sector, medical and health services managers are required to maintain meticulous records and keep themselves up to date on regulations. Even prior to COVID-19, the industry was booming, with only a 0.9% unemployment rate as of May 2018. In the wake of the pandemic, it seems unlikely that the demand for these jobs will decrease in the near future.
4. Computer and Information Systems Manager
Marrying business with technology and computer sciences, a career as a computer and information systems manager is perfect for MBA holders who want to explore the technological side of business. By creating and overseeing security and computer networks, these managers ensure that all technological operations in the business are running smoothly and efficiently. Some of their core duties include addressing computer-related problems, building Internet websites, and installing software and hardware programs. If you have an MBA, particularly an MBA with a specialization in information systems, then you will make yourself an exceedingly desirable candidate in the job market.
5. Investment Banker
Known for being high profile and well-off business professionals, investment bankers control the initial public offerings (IPOs) of companies preparing to go public. Beyond controlling IPOs, investment bankers help their clients raise money in a variety of ways, including issuing stocks, floating bonds, and negotiating acquisitions of competitor companies. Some of the top skills required to be a successful investment banker are as follows: arranging financing, equity financing, arranging private placements, and negotiating mergers and acquisitions. In your MBA, you likely became familiar with many of these principles and developed your skills in relevant areas. Therefore, you could easily put your MBA to use in a career as an investment banker.
Ultimately, an MBA is an internationally recognized certification that will enable you to explore a variety of exciting career paths in the business world. From management consulting to investment banking, there is no shortage of opportunity – no matter your specialization or area of interest. The sooner you familiarize yourself with all the careers you can pursue with an MBA, the sooner you can put your degree to use in the real world.