You can attack the business world from various angles with an MBA to make your mark. As nearly all world-class organizations require candidates with diverse skill sets and business knowledge, earning an MBA is one of the best ways to learn those skills and put them to good use.
An MBA is often seen as a sign of ambition, drive, and determination. It is more than a degree, but rather an experience of personal and professional growth that allows you to explore lucrative career options.
With so many new business graduates hitting the job market almost daily, it can be challenging to stand out. But the best thing about being an MBA graduate is that it opens many avenues of the business world.
After earning an MBA, you can become an entrepreneur, work in consulting firms, government agencies, the healthcare sector, and much more. If you’re an MBA graduate curious about alternative career options, read on to learn more.
1. Data Analytics
With an MBA, you can make great strides in the world of data analytics. The skills you need include:
- The ability to understand the business model, goals, and objectives of your organization
- Proficiency in statistics
- Deep knowledge of computer programming languages, like Python
- The ability to use the data to produce conclusions to help decision-makers
Data analysts are responsible for studying substantial amounts of data and producing conclusions based on that data. They are often involved in marketing research, business strategy, or product development.
If you want to pursue a career in data analytics, you can opt for an online MBA in business analytics to learn all the skills needed to assess, manage, and use data analytics. With an online degree, you will have more time to put those skills to the test and gain valuable experience that most well-known companies look for in candidates.
You must be passionate about data, have an analytical mindset, and willingness to learn new skills. Some skills needed are stored procedures execution; error handling; data access performance tuning; high availability architecture design considerations; managing external relations between databases, etc.
As per BLS, the mean annual wage of a Data Analyst is $108,660.
2. Non-profit Organizations
If you have an MBA and want to contribute towards worldly affairs, consider working for a nonprofit or charitable organization. In this environment, you can tackle one of the world’s most pressing issues without being accused of making personal profits.
Volunteers can run non-profits, paid staff, or a combination of both. Nonprofits provide many benefits for their employees like
- Flexible working hours
- Generous health insurance coverage
Since it does not make economic sense for most corporations to hire an in-house non-profit incubator or foundation, many MBA graduates start their careers in non-profit organizations.
A non-profit manager could work in social services, public services, medical, or environmental causes. If you have an MBA, you can be an asset to non-profits of all types.
3. Government and Public Services
Government organizations always need qualified candidates, and public service positions offer better work-life balance than other industries.
Public service jobs may be more challenging, but they also offer the opportunity to shape your community or country’s future by working on critical issues affecting society.
Many jobs are available within government agencies, and these positions typically allow you to work with flexible schedules and different locations. This could be your ideal career path if you enjoy collaborating with people from diverse backgrounds.
In the past decade, entrepreneurship has become more popular among adults. It is one of the most attractive career options for MBA graduates. Remember, entrepreneurship is not just about starting a business; it is also about taking risks and being innovative.
In addition to solving problems and creating value, entrepreneurs must have effective communication skills to build a team that can work together toward common goals.
An MBA can open doors for you and make you more attractive to investors with your ideas and business acumen. It can also teach you the skills and experience you need to help you succeed as an entrepreneur.
5. Natural Sciences
Natural sciences managers are responsible for managing the research, development, and commercialization of products and services related to this industry.
They oversee business operations that include:
- Managing a team of scientists, engineers, or technicians who work on specific projects (e.g., developing new products)
- Making sure that all aspects of the project are completed on time and within budget
- Assisting in identifying potential partners or investors
As per BLS, the median annual pay of a Natural Sciences Manager is $137,900.
6. Social and Community Services
Social services organizations assist individuals and families with challenges such as poverty, discrimination, substance abuse, and mental illness. These organizations provide housing, financial assistance, education, employment counseling, training, and other services to help their clients achieve self-sufficiency and lead prosperous lives.
The public sector employs social and community services managers in the social, health, community, and housing sectors. Their duties include managing programs that help people with disabilities, children, families, the elderly, and the homeless.
As per BLS, the median annual pay of a Social and Community Services Manager is $74,000.
7. Training and Development
Training and development managers are responsible for designing and implementing employee training programs. They also ensure that:
- Employees are professionally trained
- Conduct employee performance reviews
- Assess new hires’ needs
- Provide continuous learning opportunities
If you enjoy collaborating with people daily, this can be an outstanding career choice because it allows you to use communication skills while helping others grow professionally through different tasks and responsibilities.
Business administration majors can pursue careers in many fields outside of business. It all depends upon the career objective of a candidate and the kind of work they prefer. One thing that is common among all these jobs is that they pay well and guarantee better career prospects.
The key takeaway is that your career options are endless!