An MBA degree is a highly marketable credential that signifies advanced business knowledge as well as general management, leadership and problem-solving abilities. These highly transferable skills prepare graduates for a variety of careers.
A recent Graduate Management Admission Council (GMAC) survey found MBA alumni are employed across a range of industries including products/services (20 percent), technology (17 percent), finance/accounting (15 percent), government/non-profit (13 percent), manufacturing (10 percent), consulting (9 percent), health care (9 percent) and energy/utilities (7 percent). Job functions within these sectors vary widely as well and encompass general management, finance/accounting, marketing/sales, consulting, operations/logistics, IT/MIS, human resources and more.
In addition to opening a diverse career path, an MBA can also provide an edge over the competition. Many companies prefer job candidates with a graduate b-school degree, especially for particular positions like those involving strategy and innovation, finance and business intelligence. Here’s a look at five popular MBA careers that allow graduates to apply these skills.
Marketing managers develop strategic marketing plans for an entire organization, line of business or brand. They also guide the implementation and execution of these efforts to build awareness and drive sales while maximizing profit. In addition, marketing managers are also responsible for hiring staff, managing budgets and tracking their results.
Businesses rely on financial managers to oversee accounts and transactions and provide guidance to help mitigate financial risk. They coordinate accounting, manage cash and investment activities, create and monitor adherence to financial policies and budgets, produce financial reports, cash-flow statements and forecasts, research competitors and perform audits. Financial managers must have an eye for detail to comply with various laws and regulations and be aware of global financial trends.
Medical and Health Services Manager
The aging baby boomer population is driving the demand for more medical and health services managers. These professionals keep hospitals, nursing homes, group practices and other health care facilities running efficiently and ensure compliance with government regulations. They oversee the work of doctors, technicians and clerical workers in an entire medical facility, a specific area or department of a medical practice or an assigned group or team of doctors and nurses.
Computer and Information Systems Manager
Computer and information systems managers plan, coordinate and direct computer-related activities within an organization. Their primary role is to analyze IT needs and goals, assess costs and benefits and research new technology in addition to addressing problems, creating computer networks, managing network security and directing the installation and maintenance of hardware and software.
Business Operations Manager
Although duties vary widely depending on an organization’s needs, business operations managers coordinate efforts across all departments to ensure every component of the business is working as efficiently as possible and quality standards are being maintained. Responsibilities include hiring staff, negotiating contracts, addressing budget matters, understanding general business operations and guiding teams.
These are just a few of the many career paths available for MBAs. This versatile degree provides many benefits and creates opportunities across a variety of industries and job functions. Experts say the true value it can provide also depends on the reputation of the b-school. Start exploring leading business schools from around the world by registering for a Virtual MBA Tour event today.