Everybody goes for an MBA degree for varied reasons. For some, an MBA degree would help them advance their career, perhaps to an administrative or managerial level, and for others, it is about a career change. Yet, some need such a degree for entrepreneurial purposes.
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What Is an MBA Degree?
Whether or not an MBA (Master of Business Administration) is an excellent course for you, you need to understand what such a degree entails. An MBA refers to a graduate degree whose focus is to build leadership skills and equip you with the necessary business principles.
In most cases, MBAs provide you with more than just the skills; you get a robust professional network, a bigger paycheck, and access to job opportunities.
Top 5 Career Options for MBA Students
When choosing a course for your master’s degree, you need to consider several things. First, ask yourself whether an MBA degree is worth it. You don’t just enroll for an MBA degree because you have to – it would help if you understand the trends and in-demand skills in the market.
Here are some of the most promising career options you can consider for your MBA program:
1. Specialized Marketing
The marketing field is extensive. And that every company needs a marketing department makes this course even more necessary for an MBA degree. However, it would help if you were considerate of your choices too. For example, if your current field is advertising and marketing, a specialized MBA degree in marketing would be a worthy investment.
With such a degree, you gain more knowledge around advanced communication with customers, execution of marketing campaigns, and effective promotion of products and services. You can apply all these skills across different sales and marketing roles, either at B2B or B2C companies.
2. General Management
In recent years, general management has gained popularity as a specialized MBA program. As a general management student, you learn about several management skills and apply them in companies within any industry.
With this MBA degree, your options are limitless. As a graduate in general management, your expertise will be handy in different departments – from the customer service department to sales and marketing to the human resources department.
3. Management Consultant
Different companies require the input of a consultant in various aspects. For instance, with an MBA degree in management consultancy, you can help companies grow. Usually, you will do this by providing strategies to address a significant obstacle the company is facing or identify its growth opportunities.
One advantage of specializing in management consultancy is you choose to work for a company or start your firm. Tim Rowley, PeopleCaddie’s chief technology and the operating officer noted that management consultancy had been an in-demand career option in recent years. The median salary for a management consultant is around $165,000.
4. Financial Management
The finance department is an integral part of any business. As companies grow, it becomes necessary to adopt creative measures to cut costs. No single organization can run well without proper financial management.
Once you complete a master of business administration degree in financial management, you gain exceptional skills organizations need to address their cash-flow issues. Financial managers are trained to track an organization’s budget and help in making the necessary financial adjustments. Expect to take home around $129,890 as the median annual pay working as a financial manager.
5. Business Operations Management
With the outbreak of the COVID-19 pandemic, most companies have adopted a remote working environment. As the need to embrace remote work increases, it has become necessary for organizations to change their operations to allow for a proper transition to this work arrangement. Such changes have led to a rise in the demand for business operations managers in 2021.
As a business operations manager, your work will revolve around managing deadlines and enforcing quality standards towards maximum efficiency. In this position, you are likely to earn a median salary of around $100,780.
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Have you thought about your reasons for going for an MBA degree? Regardless of your specific reasons, we know for a fact that an MBA degree will give you a rise in your salary while at the same time expanding your career opportunities. We hope that our list of MBA career options will help you settle for an in-demand career in your field!