The answer to “What can I do with an MBA Business Masters Degree?” is fairly simple, as with an MBA, you can not only increase your income, but obtain promotions or a position in a career you have always dreamed of having. An MBA opens many doors and offers considerable possibilities for career enhancement that are not available to those who do not hold an MBA.
Increased Earning Potential
One of the answers to “What can I do with an MBA Business Masters Degree?” is increased earning power. Although simply obtaining an MBA does not guarantee a huge salary increase, the potential for earning more is greater with the degree than without one. According to the Wall Street Journal, the average starting salary for someone holding an undergraduate degree in business was almost $43,000, compared to the almost $86,000 starting salary of someone with an MBA. This represents a 50 percent increase in earning potential for those who achieve their Business Master’s degree (http://online.wsj.com/news/articles/SB10001424053111904900904576554850808786960).
Although obtaining an MBA is not a guarantee for a promotion, for those who have demonstrated professional growth at their workplace will have more of a chance for promotion than another employee without an MBA. In addition, there are positions at many companies where an MBA is a required prerequisite to even apply for upper-level positions. According to Studyportals.com, 70 percent of MBA graduates throughout the world are senior managers or leaders of companies.
Improved Business Network
While obtaining an MBA, you realize improved business networking as the study required for the program allows you to interact with colleagues, professors, teaching staff and business professionals with a significant amount of on-the-job knowledge. This can present you with the ability to not only learn from those who have taken the path before, but to interact with those who could be potential employers once you complete your studies. You may learn of internships available that can help provide you with on-the-job experience you would not gain elsewhere. The network you build while getting your MBA translates to contacts once you have obtained the degree that can be of tremendous benefit to your career.
One reason for obtaining an MBA is to create better career options, whether with a current employer or seeking a better position elsewhere. Therefore, asking “What Can I Do With an MBA Business Masters Degree?” needs some clarification. In other words, what you can do with an MBA also depends on the focus of the studies. Better career options will be based on the type of MBA obtained, such as finance, marketing, or other business related subject. Career improvements that could be realized from an MBA include:
Marketing Manager – For those who choose a focus in marketing for their MBA, a Marketing Manager position may be the best option for an improvement in careers. Marketing Managers work with sales, art and public relations departments to analyze product demand and determine the strategies for pricing, selling and distributing those products. MBA holders with good time management, sales ability and knowledge of the marketplace can realize excellent career growth in the marketing field.
Management Analyst – If you obtained your MBA in business management, a Management Analyst position may be the best career option. A Management Analyst provides feedback on organizational structure and efficiency, in an effort to help make the company more profitable.
Human Resource Specialist – There are MBAs available in human resources, an area that has historically been known as Personnel. Human Resource Specialists affect employee productivity, along with performing the hiring, firing and benefits management for the company.
Financial Advisor – An MBA in finance could lead to a position as a financial advisor, although many graduates obtain a position in this field with an undergraduate degree. However, in order to move into management positions, most financial companies require an MBA or higher.
IT Manager – With technology growing tremendously in the business world, the need for IT Managers is also growing. The IT Manager is responsible for all technical aspects of a company, from keeping email working to building databases of information used by employees and customers.
Healthcare Manager – One of the fastest growing industries is the healthcare industry, and the need for managers is also increasing dramatically. With an MBA in healthcare, you can obtain a position that leads the success of a healthcare organization. A Healthcare Manager must understand the financial, emotional and technical aspects of the healthcare world in order to make the right decisions regarding patient care while still maintaining profitability for the organization.
It is important to remember that with increased salary and career level comes increased responsibility. There are some MBA positions, such as project management, that require a significant amount of travel, while regional managers often must visit the various locations that they supervise on a regular basis. Top-level managers often work excessive hours, some reporting 50 or more hours per week, in order to complete projects. In addition, managers often must deal with angry clients and customers, or negotiate deals that could be a high-risk for the company. For this reason, critical thinking and problem solving skills are critical aspects of anyone who holds an MBA, as they are able to handle the pressure of the position.
Obtaining an MBA can be an expensive and time-consuming process, but when you ask “What can I do with an MBA Business Masters Degree?” you learn that the possibilities are endless. There is the potential for a significant increase in salary, promotions, and the possibility of obtaining a position in a career that may have only been a dream before obtaining your degree.