Obtaining a post-secondary education is vital these days, but if you really want to open your career prospects and find a job working in growing industries in America, a Master’s in Business Administration (MBA) might be the way to go. An MBA is a specialized degree that requires graduates to take a number of courses that deal specifically with the many facets of business administration. Some subjects covered in MBA courses may include business ethics, accounting, creating business plans, marketing and operations, all of which can be very useful to entrepreneurs and those who want to climb the corporate ladder. Below are some careers that may be suitable for someone with an MBA:
A project manager is someone who works with various teams in a company to bring together all of the details of a large and complex project. The role serves as the lead for project needs like budgeting, role assignments, quality assurance and productivity measurement. Someone who starts their own company may also serve as a project manager for the first few years of business. For example, if you were interested in starting your own construction company, you would be the person in charge of ordering materials and supplies, negotiating deals, marketing your company’s construction services and more. In time, you could hire project managers to take on these tasks for different projects, but in the beginning, you will likely be responsible for the bulk of the work.
Because an MBA program typically involves an education in finance, many MBA graduates go on to become finance managers. A finance manager is tasked with overseeing the financial stability of a business by working with accountants and other financial experts to overcome cash flow concerns, analyze profitability and research ways to reduce costs.
A finance manager will often work closely with executive leadership to determine what changes can and should be made to an organization based on current and projected financial figures. Someone who goes into business for themselves may handle much of the financial management of a business during the initial stages of planning and development, but it is often best for an executive to be separate from the financial manager role due to the potential for legal liability concerns. This becomes especially true when a company is taken public and shareholders and regulatory agencies are involved.
Business Development Manager
A business development manager is someone who is tasked with seeking out leads, qualifying them and helping the sales team to target the right strategies to convert leads into clients. Essentially, the business development manager’s goal is to develop and nurture more business for the company, and this is done through sales, marketing and networking.
Someone with an MBA is suited for this role as an MBA education teaches how to properly and effectively move prospects through sales funnels to become leads and clients. Business development managers will not only need to have hard skills related to analytics and project management, but they will also need to possess a strong set of soft skills that can be used to speak the language of clients in understanding client needs.
Investment Banking Professional
An MBA may also open doors in the world of investment banking for graduates. Various investment banking careers, including investment fund manager, are optimal for someone with an MBA because coursework often revolves around how to use business capital wisely. This usually involves investments of some type, and investment banking is all about managing capital to help it grow. Many Wall Street firms look for MBA graduates when recruiting candidates, but Fortune 500 companies also keep an eye out for MBA graduates when hiring for roles like banking analyst, auditor and investment manager.