According to the Bureau of Labour statistics, having a master’s degree or an MBA in your credentials can boost your career prospects. In many cases, it gives you an edge over people who only have a bachelor’s degree certificate. Many people are becoming more aware of this, which is why there is an increase in the number of people going to business school.
At one point or the other, MBA students and alumni wonder how they can put their MBA degrees into use. However, many graduates remain unsure even up to two years after getting their degree. No doubt, getting an MBA isn’t cheap (except if you have a scholarship), and getting a return on their investment is the aim of many students. On that note, here are four great ways to use your MBA degree.
1. Become a tech consultant or manager.
Forward-thinking business leaders understand that the future of many industries lies in the hands of technology. As a result, some specific MBA programs are geared towards grooming students for a career in information technology. These types of programs teach students how to protect corporate data and develop security policies.
Businesses have more demand for IT managers. The typical duty of an IT manager is to upgrade a company’s technology and ensure that computer systems meet the company’s needs. These businesses need people with solid business, finance, and IT skills, and where they can’t have such a person on their team, they outsource.
As an MBA graduate with IT experience, you can leverage your skills and become a tech consultant or manager. You can use ERS (Enhanced Retail Solutions) software to assess other companies’ POS and inventory data and provide self-service ERS online. With such software, you can also help companies collect, integrate, and interpret their inventory and POS data to aid decision-making.
2. Become a financial analyst/ financial manager.
For the longest time, having a career in finance was the ultimate gig for MBA graduate students because finance is a close match to the core courses the business program offers. As a result of the analytical skill and software knowledge that MBA graduates have, many companies prefer to have them fill the role of financial managers.
Financial managers and analysts typically oversee a company’s financial position, prepare and review their balance sheet and financial reports, analyze trends, and advise company finances. Understanding accounting numbers and using this financial insight to guide business investment and spending decisions is a key requirement of a financial manager or analyst.
For instance, as a financial manager, you should be able to guide a company on how to open a reserve account, the different types of reserve fund accounts, and their specific purposes. You should also be able to tell them how they can use a reserve account to determine operating funds and the state of condominiums, among other shared properties. The management should be inclined to trust you with their strategic financial management.
3. Become a human resources manager.
It’s unlikely that you will complete an MBA program without picking up on people management skills. Although there’s no specific coursework that targets this skill, it happens to be one of the greatest assets you will have after getting your Master’s of Business Administration degree. Many schools make a deliberate effort to link their students with business professionals across different fields, thereby encouraging networking.
Business professionals know that having a solid network of friends, colleagues, and fellow professionals can help you advance your career. These connections can come in handy in many ways, especially as a human resources manager. You can use it to get a job or hire and recruit suitable candidates to make a brilliant team.
As a human resource manager with a great network of people, you’ll find yourself valuable to many companies. Companies are paying more attention to the quality of people they hire, so there’s an increasing demand for human resource managers and departments. The HR manager is responsible for sourcing human talents, recruiting, and onboarding candidates for the entire organization.
Therefore, as an HR manager, you’ll be working closely with company executives and participating in their strategic thinking and planning processes. Meeting people at seminars, conferences and maintaining an active LinkedIn profile are some of the best ways you can build your connections and grow your contact list in this field.
4. Become an entrepreneur.
Despite the decade-long debate on whether a Master of Business Administration Program can help anyone become an efficient entrepreneur, many people who finish this degree program end up being successful entrepreneurs. This can be attributed to the business skills MBA programs instill in their students. Some schools focus on teaching their students entrepreneurship and how to develop ideas that could transform the world.
Being a good entrepreneur requires you to have excellent interpersonal skills, management skills, and a good business strategy. This will help you manage all kinds of businesses successfully, as this car dealership in Medina, OH. You can get all these skills from an MBA program.
Additionally, as an entrepreneur, there’ll be an occasional need for investors or partnerships. Business partners and prospective investors are more likely to trust you if they know you have an MBA. It shows that you have the training, discipline, and expertise required to carry out what you are doing.
In a nutshell, the job market is constantly changing, and preference for candidates with a master’s is taking center stage. These career options don’t in any way exhaust the many ways you can use your MBA degree. However, they should give you an idea of all the exciting and unlimited opportunities that come with having such a qualification.
So, whether you have completed your degree and don’t know which career path to take or are on the path to starting an MBA degree, this article should guide you on what areas to focus your attention on. With your MBA certificate, you can create a path to a successful and fulfilling career in different fields and roles, like all the ones mentioned above.