Seven Lucrative Career Options for MBA Grads
An MBA degree is important, and the demand for MBA graduates never ends. Very few degrees provide the flexibility and skill set to work across different industries and job requirements. In addition to the traditional business world, industries such as health, technology, sports, hospitality and entertainment seek MBA degree holders.
Basic business and management knowledge is applicable to numerous fields, enhancing graduates’ career choices. With higher salaries and new exciting roles, MBA graduates can expect to improve their careers.
Many MBA degrees offer specializations and prepare graduates to explore multiple industries.
If you are an MBA or planning to get an MBA degree, we have selected some emerging career options.
1: Business Development Manager
Business development managers take a holistic approach and work to increase the profitability of an organization. They find new business opportunities for the organization and create new contacts between organizations.
Business development managers plan and implement new business strategies within the organization for existing products. They evaluate and modify business plans and collaborate with sales and marketing teams to increase revenue.
It would not be a stretch to say that BDM is behind a company’s successful future. As a business management developer, you can choose from a variety of sectors such as education, construction, healthcare and IT to name a few.
2: Data Analysis Consultant
Nowadays, data information drives business strategies in most industries. Organizations hire analytics consultants to collect and analyze data and provide new strategies for improvement and growth.
Data analytics consultants are primarily responsible for software implementation, data collection, and conducting evaluations. They convert the collected data into valuable information about defects and faults in the final product.
They are the driving force behind the quality, vision and growth of the organization.
So, if you are passionate about driving businesses to growth, MBA in Data Analytics is for you!
Many industries rely on data analytics to determine future growth and direction for companies. The list of industries that require data analysts is not exhaustive enough.
3: Sports and Recreation Manager
An MBA graduate’s leadership, management and organizational skills are useful as an entertainment manager. These managers are tasked with overseeing the efficient operation of facilities, managing brand image, and overseeing product sales for the organization.
These managers organize and plan sports and recreational events. They cater to a variety of customers and ensure customer satisfaction and an overall positive experience.
The Recreation Manager oversees the financial and logistical needs of the facility. The average entertainment manager salary is $63,539 although it varies with experience and setting.
You have a great new startup idea and are passionate about turning a small business like JPMorgan Chase into a multi-million dollar company! But you don’t know where to start. Get yourself an MBA degree.
The US Bureau of Labor Statistics shows that about 25% of small businesses reach the 15-year benchmark and most fail within the first ten years.
Against such odds, an MBA degree is an asset for entrepreneurs. An MBA provides skills related to all aspects of a business. From managing finances and overseeing operations to creating a marketing plan, an MBA degree equips you with the skills you need to run a successful enterprise.
Most importantly, an MBA degree will prepare you to handle the multifaceted nature of running a business. Problem-solving skills and persistence are key to the company’s critical early years.
An MBA will also help you build the connections and valuable market information you need to start your business.
5: Market research analyst
A market research analyst monitors market trends and develops marketing and sales strategies for the company’s products.
They collect qualitative and quantitative data about customer demographics, pricing and competition for products. Their analysis becomes the basis of the marketing plan for the company.
Research analysts follow new trends in the market and suggest new products and new market opportunities for the organization. The US Bureau of Labor predicts a 19% increase for market research analysts through 2030.
Market research analysts work in the retail, education, health and hospitality industries.
6: Supply Chain/ Operations Manager
Operations, especially the supply chain, are the backbone of every successful business. Operations managers are responsible for smooth input of raw materials for the company and output of final products to the market. They have to supervise and manage the entire production process.
Successful operations achieve higher consumer value and an edge over other product competitors. Cost-effective and efficient sourcing of materials increases company profitability.
After sourcing, operations managers oversee the production and distribution of products. Product delays or shortages in the market hamper brand image, losing loyal customers.
Operations managers plan and coordinate with vendors for seamless processes. Any hiccups in the supply chain and operations can cause substantial losses for the company.
Ranked #11 on Best Business Jobs and with an average salary of $97,970, operations managers are in demand in every industry. From small businesses to multi-million dollar companies, operations and supply chain managers are needed in global markets.
7: Healthcare Management
Another emerging industry for MBA degree holders is administrative and financial management in the healthcare sector.
The global pandemic has changed the nature and responsibilities of the health sector. Adequate management and preparation are essential for rapid response to medical emergencies. An MBA degree provides the leadership and organizational qualities needed to navigate these challenges.
Healthcare managers oversee the operation of health facilities and ensure quality and efficient services.
With a job outlook of 29% growth and an annual salary of $104,280, the healthcare sector is an ideal job opportunity for MBA graduates.
With many new industries requiring leadership, management and organizational skills, the MBA is the degree of the future. MBA graduates are not limited to finance and accounting.
Many new age marketing strategies rely on data insights and analytics, which is what an MBA degree provides.
If you want exciting and endless career opportunities, an MBA is the answer. If you know of other budding career choices, feel free to let us know in the comments.
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