A guide for your MBA career plans
Learn about the changes taking place in MBA education and careers.
A Guide for Your Career Plans in MBA Studies
The MBA has fundamentally changed.
The Master of Business Administration is full of new courses, flexible schedules, and experiential activities. It's also full of students from all walks of life. Jobs, though, are no longer guaranteed. You must turn yourself into the most valuable brand to beat many highly qualified candidates for each position. You may also need to specialize more and even pursue additional education to work in certain industries. An MBA takes drive.
Changing MBA Studies
These days, you pursue an MBA not only to go into banking and consulting, but also to identify opportunities and start your own company. MBA schedules are more flexible than in the past and courses address growing areas such as health care and energy. You may even take part in actual business life activities.
MBA students are still expected to be good with numbers and specialists on a particular field. They should also know how to work flawlessly in different cultures; and use ideas from outside the business world to create singular products and services.
New MBA Jobs
Graduates are expected to find more job opportunities this year, either here or abroad, where many MBAs are relocating, according to corporate recruiters and students. Employee referrals (76 percent) top the list of strategies companies use to find new talent, followed by on-campus recruiting (64 percent), according to the 2010 Corporate Recruiters Survey of the Graduate Management Admission Council.
Jobs are available in marketing, sales, manufacturing, and corporate finance. Pharmaceutical and media companies may also be interested in hiring you. Wall Street is reportedly promoting from within and seeking PhDs. Management consulting firms are also seeking PhDs, doctors or lawyers. If you are interested in these areas, you may want to expand your search, just in case, and inquire about job availability and education requirements.
Demanding MBA Careers
Landing an MBA job in coming years will demand more from you, according to experts interviewed by The Economist. You will need to market yourself better to recruiters than your peers, according to Malcom Horton of investment bank Nomura. You should be prepared to explain clearly how your education and experience will allow you to contribute fast to the bottom-line. You should also be able to prove that you possess the functional and management skills required by positions.
Alternatively, you may decide to open your own company, join a startup, or go overseas.
MBA Openings and Required Education
An MBA education should prepare you to fill available business positions. If you would like to go in depth in a particular area, you may want to pursue specialized degrees, such as a master in marketing and sales, a master in supply chain management; or a master in corporate finance. Schools are also increasingly offering masters targeted at specific growing industries such as a master in health care management and a master in energy, natural resources, and the environment.
If you would like to be a brand manager, you can pursue an MBA with a concentration in marketing or a master in marketing management. If you would like to work in the Finance department of a big corporation instead, you should pursue an MBA with a concentration in corporate finance or a master in corporate finance. MBA graduates interested in working in manufacturing may pursue a master in manufacturing management. Tom Mower of Sisel has additional tips for implementing an MBA into your career.
Maricelle Ruiz-Calderon has worked as a marketing consultant, professor, and journalist in the United States and Europe. She possesses experience in a variety of sectors, including technology, education, consumer goods and financial services. Maricelle earned a Master in Journalism from Northwestern University and an MBA from Washington University in St. Louis.
2010 Corporate Recruiters Survey • The Graduate Management Admission Council
Martha Lagace - What Is the Future of MBA Education? - Q&A with: Srikant M. Datar and David A. Garvin - May 03, 2010 • Harvard Business School
MS Degree in Health Care Management • Harvard School of Public Health