Degree Profile: What Can You Do With an MBA?
There are many unique, well-paying and gratifying careers available to Master of Business Administration graduates. Many people who pursue an MBA degree already have a specific career goal in mind. This allows them to tailor their education to meet the skills and knowledge required for their dream jobs. Some MBA grads choose to go into finance and become financial analysts. Other MBA graduates who have a background in technology think a little outside the box and look for positions in IT management and administration. Those who are interested in helping people may choose to focus on nonprofit management. There are many possibilities.
Most business administration programs cover business topics such as leadership, management, human resources and marketing in depth. This allows students to narrow down their strengths and apply their skills to achieve their ultimate professional goals. Many employers look for a professional with an MBA in addition to proven success and experience in the business field. This combination is the best way to land a great job after graduating.
Listed below are some of the many career choices available to MBA graduates.
A financial analyst helps facilitate investments. This can mean either individual investments or business investments. They must keep up to date with the current data and trends in economics and business. Financial analysts work for banks, pension funds, mutual funds, securities firms and insurance companies. The different kinds of financial analysts include:
• portfolio managers
• fund managers
• ratings analysts
• risk analysts
In many cases, a financial analyst is required to have a license. The Financial Industry Regulatory Authority is the most common licensing organization for many financial analyst positions. According to the Bureau of Labor Statistics (BLS), the occupational outlook for financial analysts is positive. The average salary is $78,620.
Though many business majors may not consider the technology industry to be as interesting as finance and economics, IT management combines the two industries to make one lucrative and exciting career field. Many IT managers have undergraduate degrees in computer science or information technology and experience working in the tech industry. They earn an MBA in order to pursue leadership roles.
IT managers apply their business skills and knowledge to their technological abilities and experience. An IT manager is in charge of the computer-related activities in an organization. IT managers influence technology-related decisions and use their business skills to determine the cost and value of those decisions. The average salary of an IT manager is $127,640 a year, the BLS reports.
Health Services Manager
Similarly, a health services manager applies business skills and knowledge to the health care industry. The main responsibility of a health services manager is to make sure that a health care organization is running smoothly. Health services managers oversee the work and resources of many different facets of a health care organization. Health care management is one of the fastest growing fields.
The median salary for medical and health services managers is $92,810. Positions are expected to grow at more than double the rate of the average occupation in the United States by 2022, according to the BLS.
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