Seven Lucrative Career Options For MBA Grads
An MBA degree matters, and the demand for MBA graduates is never-ending. Very few degrees provide the flexibility and the skill sets to work across diverse industries and job requirements. In addition to the traditional business world, industries like health, technology, sports, hospitality, and entertainment seek MBA degree holders.
Basic business and management knowledge applies to numerous fields, increasing graduates’ career choices. With high salaries and new exciting roles, MBA graduates can expect to thrive in their careers.
Many MBA degrees offer specializations and prepare graduates to explore multiple industries.
If you’re an MBA or planning to get an MBA degree, we have selected a few emerging career choices to look out for.
1: Business Development Manager
Business development managers take a holistic approach and work to increase the profitability of an organization. They look for new business opportunities for the organization and create new liaisons between organizations.
Business Development managers plan and implement new business strategies within the organization for the existing products. They evaluate and tweak the business plans and collaborate with the sales and marketing teams to increase revenue.
It wouldn’t be a stretch to say that BDMs are behind a company’s successful future. As a business management developer, you can choose between diverse sectors like education, construction, healthcare, and I.T., to name a few.
2: Data Analytics Consultant
Nowadays, data information drives business strategies in most industries. Companies hire analytics consultants to collect and analyze the data and provide new strategies for improvement and growth.
Data analytics consultants are primarily responsible for software implementation, data collection, and evaluation management. They convert the collected data into valuable information about the loopholes and shortcomings in the final products.
They are the driving force behind the organization’s quality, vision, and growth.
So, if you are passionate about steering businesses toward growth, an MBA in data analytics is for you!
Many industries rely on data analytics to decide the future growth and direction of the company. The list of industries that require data analysts isn’t exhausting enough.
3: Sports and Recreation Managers
An MBA graduate’s leadership, management, and organizational skills are handy as a recreational manager. These managers are tasked to supervise the efficient working of the facility, manage the brand image, and oversee the merchandise sales for the organization.
These managers also organize and plan sports and recreational events. They cater to various customers and ensure customer satisfaction and an overall positive experience.
Recreational managers oversee the financial and logistic needs of the facility. The average salary for the recreational manager is $63,539 though it varies with experience and setting.
4: Entrepreneurs
You have a great new startup idea and are passionate about growing a small business like JPMorgan Chase into a multimillion-dollar company! But you don’t know where to start. Get yourself an MBA degree.
U.S Bureau of Labor Statistics shows that hardly 25% of small businesses reach the 15 years benchmark and mostly fail within the initial ten years.
Against such odds, an MBA degree is an asset for entrepreneurs. An MBA provides skills related to all aspects of a business. From managing finance and overseeing operations to developing a marketing plan, an MBA degree equips you with the skill set necessary for a successful enterprise.
Most importantly, an MBA degree will prepare you to handle the multifaceted nature of running a business. Problem-solving skills and perseverance are the keys to the crucial initial years of the company.
An MBA will also assist in making connections and valuable market information needed to start your business.
5: Market Research Analyst
A Market Research Analyst keeps an eye on the market trends and develops marketing and sales strategies for the company products.
They collect qualitative and quantitative data about customer demographics, pricing, and competition for the product. Their analysis becomes the basis of the marketing plan for the company.
Research analysts follow the new trends in the market and suggest the possibilities of new products and new markets for the organization. The U.S. Bureau of Labor predicts a 19% growth for market research analysts by 2030.
Market research analysts work in the retail, education, health, and hospitality industries.
6: Supply Chain/ Operations Managers
Operations, particularly the supply chain, are the backbone of every successful business. Operation managers are responsible for the smooth input of raw materials for the company and the output of the final products in the market. They have to oversee and manage the whole production process.
Successful operations achieve high consumer value and an edge over other competitors of the product. Cost-effective and efficient sourcing of the material increases the profitability of the company.
After sourcing, operation managers oversee the production and distribution of the goods. A delay or shortage of the product in the market hampers the brand’s image, losing loyal customers.
Operation managers plan and coordinate with vendors for a seamless process. Any hiccup in the supply chain and operations can lead to a considerable loss for the company.
Ranked as #11 in best business jobs and with an average salary of $97 970, operation managers are in demand in every industry. From small businesses to multimillion-dollar companies, operation, and supply chain managers are the need in the global markets.
7: Healthcare Management
Another emerging industry for MBA degree holders is administrative and financial management in the healthcare sector.
Global pandemics have changed the nature and responsibilities of the health sector. Adequate management and preparedness are essential for a swift response to medical emergencies. An MBA degree provides the necessary leadership and organizational qualities to navigate these challenges.
Healthcare managers supervise the working of health facilities and ensure quality and efficient services.
With a 29% increase in job outlook and an annual salary of $104 280, the healthcare sector is an ideal job opportunity for MBA graduates.
Final Thoughts
With many new industries needing leadership, management, and organizational skills set, an MBA is the degree of the future. MBA graduates are not restricted to finance and accounting alone.
Many new-age marketing strategies depend upon data information and analytics, which an MBA degree provides.
An MBA is the answer if you want exciting and endless career opportunities. If you know about other emerging career choices, feel free to let us know in the comments.
