As per a recent Graduate Management Admissions Council (GMAC) survey, 90% of employers surveyed plan to hire MBA graduates in 2021 as they gear up for a post-COVID economic recovery. The same survey demonstrates the biggest employers of MBA graduates this year will be consulting firms, with a quarter of these planning on increasing their MBA hiring this year. Other international companies commonly known for hiring mainly MBA graduates are Microsoft, Google, Accenture, and Deloitte.
In today’s world, an MBA or Master of Business Administration is one of the most sought-after post-graduation courses worldwide. Every other graduate, irrespective of the stream, now opts for an MBA for their post-graduation. This fact is the sole reason behind career options after an MBA growing tenfold. Every other eminent MNC’s now instantly hire MBA graduates and offer them lucrative packages with high perks.
An MBA is also a brilliant option for a thriving business, exclusive career opportunities, and a sustainable future. Furthermore, a career in MBA is not restrictive and opens up a plethora of avenues to choose from.
If you are one of those people who wish to explore and dive into better career opportunities after pursuing an MBA, then you don’t need to look any further! Today’s blog post will walk you through some fantastic career choices and top salary packages associated with it so that you can maximize your returns from the MBA degree remarkably.
Let’s get started!
8 MBA Career Paths and Opportunities
- Operations Manager
According to the best minds associated with MBA assignment help services, one of the remarkable career paths you can opt for after pursuing an MBA is Operations Manager. They are responsible for governing activities related to producing goods and services. Operations managers also initiate, design, and control operations to ensure efficient workflows and supply chains.
As per the US Bureau of Labor Statistics, the average salary and job outlook for management positions is positive. The average salary of an operations manager in the US is $63,339 per year. Furthermore, from 2019 to 2029, employment in management occupations is projected to grow by 5%. This is faster than the average growth for all occupations, which is indeed a positive sign for fresh graduates on this career path.
- Marketing Manager
As the name implies, a marketing manager is an individual who manages the company’s market outreach. They are creative individuals who look after the planned and unplanned reputation of the company in the market. Additionally, a marketing manager is responsible for implementing services or delivering a product in the market.
A marketing manager should be a ‘Street Smart’ person with remarkable communication skills, outgoing, and an open approach to ideas and opinions from people. The average salary of a marketing manager in the USA is $70,648.
- Financial Analyst
If finance is your decided area of study, becoming a remarkable analyst is an ideal next step after receiving your MBA. Financial analysts can work in several industries; however, banks, investment firms, and businesses seek out their services the most. This is mainly as they play a pivotal role in helping businesses make profitable investment decisions and mitigate risks.
The average salary of financial analysts in the US is $82,965, and the average total compensation for a financial analyst is $98,685. The outlook for this career path is also strong. As per the projection of the BLS, the employment of financial analysts will grow 5% from 2019 to 2021.
- Management Consultant
Holding an MBA degree is incredibly valuable in the world of consulting, where appearances count. A management consultant is a person who helps companies or organizations to improve their performance by analyzing the existing problems carefully and developing remarkable ways to solve them.
A management consultant requires being strategic, calm and operations when working. If you possess a knack for solving problems and managing people in a crisis, then becoming a management consultant will be a wise choice of your career.
The average salary of a management consultant is USD 92,827. Eminent companies who would like to hire you are ‘Big Four Auditor’s’ and other big consultancies.
- Investment Banker
An investment banker is an individual who works excessively closely with a financial institution. Investment banker handles huge and complicated financial transactions, like structuring an acquisition merger or sale for the client or a group of clients.
The essential skill set to be an investment banker includes brilliant number-crunching abilities, strong verbal and written communication skills, and the capacity to work for gruelling hours. The average salary of a typical investment banker is around USD $100,000.
Furthermore, being an action menu banker, you get to work with eminent firms like Goldman Sachs (GS), Morgan Stanley (MS), JPMorgan Chase (JPM), Bank of America Merrill Lynch (BAC) and Deutsche Bank (DB).
- Financial Advisor
According to the US Bureau of Labor Statistics, the employment of personal financial advisors is projected to grow from 5 per cent from 2020 to 2030.
Financial advisors are remarkable professionals who render and suggest financial advice to their clients based on a situation. A financial advisor will help individuals invest in the right place and enable them to accomplish their goals. He is considered the torchbearer for investments and offers advice on long-term goals. The average salary of a financial advisor is approximately USD $90,530.
- Human Resource Manager
A survey of the US Bureau of Labor Statistics asserts that the employment of human resource managers is projected to grow 9 per cent from 2020 to 2030. About 14,800 openings for human resources managers, on average, are projected every year.
An HR manager is a requisite of any large organization. They must strategize the effective management of people or employees in an organization. HR managers are typically involved with recruitment, training, career development, compensation and benefits, employee relations, employment law compliance, disciplinary and grievance issues, redundancies, and the like. Additionally, the job involves staying up to date with employment law that often changes. The average salary of an HR manager is typically around USD $61,000.
- IT Managers
According to recent data, the employment of computer and information systems managers is projected to grow 11 per cent from 2020 to 2030, faster than the average occupations.
Now, if you have received an MBA in IT, increasing chances are you have a passion for technology and business management. Indeed explained that an IT manager specifically plans, directs, and oversees its computer and information systems. They are experts in the business and technology it requires; thus, they work to coordinate jobs related to hardware, software, and business users.
IT managers must also be able to communicate with others in the organization, especially business users who will offer training on new policies. The average salary of an IT manager in the US is $85,383 per annum.
We hope this comprehensive post has offered you a lucid understanding of the various career opportunities MBA offers. MBA is a globally renowned and acclaimed degree that bears a promise of well-paying jobs. However, not all management jobs pay well. Thus, to ensure that you land your dream job, it is essential to determine which MBA path best fits your career objectives. Once you deduce that, the rest will become easier along the way.
All the best now!
William Smith is a Career and Interview Coach who specializes in aiding professionals to get on the right career track, promoted and paid more. A proud assignment writer of Dissertationproviders.co.uk for 10+ years now, she is famous among students for her remarkable blogs and unique career counseling sessions.