A Master of Business Administration (MBA) degree is a graduate degree where students learn managerial skills and technical skills in business and investments. Having an MBA degree can help you develop leadership skills, gain better insights into the market, and analyze changing market demands.
Nowadays, getting an MBA is quite common for many professionals across several industries. It’s easy to think that getting one is not worth it because many people already have it. But if you find yourself constantly asking this question: “Should I get an MBA?” Then you might need to dig deeper.
An MBA graduate is usually placed at the forefront of industries that require problem-solving, risk management, and business analysis. These skills are always useful, and the demand for these abilities won’t go away anytime soon.
With that said, getting an MBA is still going to be worth it—as long as you know what to do when it’s time to apply it in the real world. This article lists down six of the most important things you can do with an MBA so you can have a peek at the opportunities that would be available to you after getting the degree:
#1 Work In Consulting Firms
Consulting firms aim to help various companies increase profits and improve efficiency by addressing different kinds of market challenges. As an MBA consultant, your job is to look at problems, analyze, and provide efficient solutions to your clients.
Consulting firms normally operate in a variety of niches, and each niche requires a unique set of skills and expertise. As early as today, you should start thinking about what consulting niche should you be specializing in the future. This should depend on your interests and previous work experiences.
However, MBA consultants are in demand within the finance, government, and non-profit sectors. So, it might be a good idea to target industries in that niche when you’re ready. These industries would usually look for the following qualities and skills:
- Good Knowledge and Understanding in Economics
- Leadership Skills
- Creative and Problem-Solving Skills
- Good Communication Skills
- Expertise in Markets, IT, and Finance/Accounting
- Relevant Work Experience in the Field
#2 Become A Financial Analyst
Some financial analysts are also MBA graduates who have worked in banks, insurance companies, pension funds, and hedge funds. As a financial analyst, you will guide individuals and businesses to make good financial or investment decisions. You’ll also assess the performance of investments like stocks, bonds, and real estate.
Below are some other responsibilities of a financial analyst:
- Analyze past and current financial performance.
- Prepare reports and projections.
- Evaluate current capital expenditures.
- Explore investment opportunities.
- Establish, recommend, and evaluate profit plans.
- Provide financial and forecasting models.
To be a financial analyst, however, you must have a strong background in accounting. So, before getting an MBA degree, it is recommended to take an accounting major in college as well.
#3 Work In Human Resources
Human Resource (HR) generalists help supervise workers and create solutions to HR problems or manpower issues. Unlike HR personnel who are more focused on improving employer-employee relationships, HR generalists oversee matters on a broader scale.
An MBA graduate can work as an HR generalist who can focus on resource allocation and analyzing business finances. Analyzing pay scales and recommending cost-efficient ways of hiring, training, and retaining employees are part of the job.
#4 Become A Brand Manager
This position almost always requires a post-graduate qualification or MBA degree. A brand manager generally adopts brand marketing strategies, maintains brand integrity, and ensures brand consistency throughout a portfolio of products.
The main responsibility of a brand manager is to create a brand strategy that would resonate with the target customers of the business. To this end, they plan and execute media promotions and communications to reach a wide audience.
Brand managers also analyze customer behavior and competitors to gain an advantage in the market. These responsibilities would require a good grasp of business and marketing which an MBA degree can provide you with.
#5 Specialize In Operations Management
An operations manager must have an MBA because this job is concerned with planning, supervising, and organizing production processes. It’s a delivery-focused discipline requiring analytical and organizational skills. This job includes careful planning, control, and the ability to improve business performance efficiently.
This is common among manufacturing industries where companies are constantly looking for ways to reach high market demands while keeping overhead expenses and production costs low. In other words, an operations manager helps manufacturing businesses produce more items in the most cost-efficient manner.
Being in the operations management field could mean working as a procurement manager, production manager, or supply chain manager. MBAs who specialize in operations management can also work in the healthcare industry where efficiency is also highly needed.
A healthcare operations manager should possess appropriate managerial skills to effectively direct and allocate scarce resources, build responsive healthcare delivery systems, and ensure accessibility, availability, and cost-effectiveness of general healthcare services.
An MBA degree can open up a lot of opportunities in your way. You can choose to work as a brand manager, operations manager, HR generalist, financial analyst, or MBA consultant. These jobs involve high analytical skills and organizational skills. Most of the time, you’ll be working with a team of people, so leadership and communication skills are also necessary to be able to collaborate with other workers and industry leaders effectively.