Types of Jobs after MBA
The question might sound tough to answer for now but it won’t be after reading this article!
Deciding your career path is a crucial decision you might be making in the advent of your adulthood. We live in a fast-paced world and with so many options available, you will often find yourself in a dilemmatic situation while deciding your career path.
MBA is undoubtedly one of the best degrees that helps in career change, it opens the doors to Finance, Marketing, Human Resources, Operations, and many other opportunities. While you already might be aware, MBA is a degree that unveils you to a various job options but you still might be doubtful about which one you should be going for. Being a layman in this situation, it is important for you to do your research on the types of Jobs after MBA.
- Why do I want to choose this job?
- Types of jobs after an MBA program?
- Will this job suit my working style?
- Is this the kind of job I thought of taking when I decided to pursue my MBA?
- Do I have the skill set required for this job?
- Will I be making the same decision after 5 years of work experience?
After having an introspection, you would get a clearer picture of what you want to after your MBA and more specifically:WHY?Now that, you know what you are looking for, we are here to help you out in the same.
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Here is a curated list of types of jobs after an MBA degree.
Marketing managers are creative individuals who look after the panned and unplanned reputation of the company in the market. Planned images may include print or video advertisements, public speaking engagements, endorsements, and printed literature. Unplanned images can occur when one of the company’s representatives misspeaks in public, thus requiring immediate damage control, or when the company is attacked by an outside force such as when someone tampers with the company’s products after they leave production or a fault in the product that isn’t recognized until well after the product has been in circulation.
A marketing manager should be a “Street Smart “ person with good 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.
A management consultant needs to be strategic, calm and operational when it comes to working. He should be a specialist in his field and should be solution-oriented. So, if you’re someone who has a knack to solve problems and manage people in a crisis along with stellar communication skills. Then you might like giving a shit to management consultancy.
Top companies who would like to hire you include the “Big Four Auditors” and other big consultancies.
The average salary of a management consultant is USD $92,827.
An investment banker deals with large, complicated financial transactions including structuring an acquisition, merger or sale for the client or a group of clients. He also markets the risk of investing money in a prospective project and is majorly associated with raising money by issuing securities.
The requisite skillset in order to be an investment banker includes excellent number-crunching abilities, strong verbal and written communication skills, and the capacity to work very long and grueling hours. Being an investment banker, you get to work with renowned firms like Goldman Sachs (GS), Morgan Stanley (MS), JPMorgan Chase (JPM), Bank of America Merrill Lynch (BAC) and Deutsche Bank (DB).
The average salary of a typical investment banker is around USD $100,000.
The job role of a business analyst includes assisting with the business case, planning and monitoring, enlisting requirements, translating and simplifying requirements, management and communication and requirement analysis.
The average salary of a business analyst working in the U.S.A. is USD $82,679
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A financial advisor is one who helps you invest in the right place and help you reach your goal. He is the torchbearer for your investments and provides you with advice on your long-term goals. They are individuals with expertise in their area, who are accountable for the situation, know how to evolve and believes in taking actions.
The average salary of a financial advisor is USD $90,530.
The job role of an administrative manager involves maintaining administrative staff and keeping a record of their performances along with the accomplishment of results. They also deal with providing required supplies and achieving the financial objective by anticipating requirements; submitting information for budget preparation; scheduling expenditures; monitoring costs; analyzing variances. The skillset for an administrative manager includes Tracking Budget Expenses, Staffing, Quality Management, Managing Processes, Organization, Coaching, Communication Processes, Disciplining Employees, Motivating Others, Promoting Process Improvement and Reporting making.
The average salary of an administrative manager is USD $86,683.
Human Resource Manager
An HR Manager is a requisite of any large organization having a professional setting. They include banks, insurance companies, hospitals, universities, institutes of technology, etc. An HR manager should be having good communication skills, good interpersonal skills, business awareness, and commercial focus, technically competent, Ability to analyze, interpret and explain the legal framework regulating employment, integrity, and approachability.
The average salary of an HR manager is typically around USD $61,000.
Product managers provide the deep product expertise needed to lead the organization and make strategic product decisions. They might be required to analyze the market and competitive conditions, laying out a product vision that is differentiated and delivers unique value based on customer demands. The role spans many activities from strategic to tactical and provides important cross-functional leadership — most notably between engineering, marketing, sales, and support teams.
A product manager role is crucial to an organization as the success of the business might be depending upon the efficacy of the product in the market. Thus, it starts with a strong product manager who feels a deep sense of responsibility for their role and managing what is defined above.
The average salary of a product manager is USD $93,356.
An operation manager is likely to work in settings like banking systems, hospitals, companies, working with suppliers, customers, and technology. Operations are one of the major functions in an organization along with supply chains, marketing, finance, and human resources. The operations function requires the management of both the strategic and day-to-day production of goods and services.
The average salary of an operation manager revolves around is USD $95,284.
As an IT manager, you’ll be in charge of your project team and it’ll be your responsibility to ensure everyone is doing the right thing at the right time. It can be a highly varied job, and you’ll find there are opportunities to work alongside a wide range of sectors. For example, you might be helping to create a new patient database for the NHS or assisting a private company to switch to a new phone system.
An IT manager should possess skills like team management, decision making, communication, strategic thinking, goal-oriented, adaptive and should be good at negotiating.
The average salary of an IT manager for the year 2016 was USD $145,740.
What is the Purpose of Pursuing MBA?
· Analytical: business economics, accounting, researching operations, economic policy, behaviour in organisations, quantitative analysis and statistics.
· Functional: human resources management, financial management, management of operations, and marketing management.
· Ethical: business ethics, social and corporate responsibility.
Lastly, a Master’s degree like this provides a great opportunity to meet and network with lot of people in the business environment. These contacts can be helpful during your professional careers as well.
Here are top 5 MBA specialisations with different salary packages and career opportunities:
1. MBA in Finance
This degree provides tremendous opportunities in financial services, banking, and insurance sector. Financial Management focuses on the managing, planning, and regulating the financial assets/resources of any industry. After completing MBA in Finance, one can find jobs in these sectors:
- Asset Management
- Hedge Fund Management
- Corporate Finance
- Corporate Banking
- Private Equity
- Credit Risk Management
- Sales and Trading
JP Morgan, Goldman Sachs, Morgan Stanley, and Merrill Lynch are some of the top recruiters who hire candidates who have completed their Masters in Finance degree.
2. MBA in Business Analytics
MSBA teaches how to use different analytical tools (like: explanatory and predictive modelling, statistical and quantitative analysis, data visualization, etc.) to gather data and analyse market trends, customer behaviour, and other matters related to business intelligence. Graduates in this degree can find jobs in sectors like:
· Financial Institutions
· Information Technology
The top organisations that recruit business analytics professionals are: Capgemini, Accenture, Boston Consulting Group, Wipro, Amazon, etc.
3. MBA in Human Resource Management
This degree teaches you the right skills on how the best industry practises and knowledge on how to handle human resources in ways that guarantee optimum benefits. Lately, the job of an HR has increased across all parallels of the industry. Hence, the HR Management professionals can find plenty of job opportunities in:
· IT organisations
· Retail companies
· Advertising firms
· Media houses
· Law firms
4. MBA in Marketing
The MBA in Marketing focuses on the management aspect of the business.
MBA in Marketing Management focuses on the marketing aspect of a business. The key goal is to teach students about brand marketing, sales, different marketing channels & techniques, executive and leadership management skills, product management, market research, consumer behavior, to name a few.
After completing an MBA in Marketing Management, one can find a job in the following sectors –
- Competitive Marketing
- Business Marketing
- Online Marketing
- Analytical Marketing
- Customer Relationship Marketing
- Advertising Management
- Product and Brand Management
- Retailing Management
Marketing Management professionals can find job opportunities in Advertising Agencies, Marketing Companies, FMCG Sector, Financial Services, IT, etc. Though Marketing as a function is required in almost every organization, and here are a few prime recruiting companies in India for marketing function – Accenture, Amazon, Capgemini, Indusind Bank, Ing Vysya Bank, India Infoline, etc.
An MBA graduate is always preferred in every organization due to the value of service they would be adding to the same. Getting a job after completing your master’s degree is a great kickstart to your career and an opportunity not to be underestimated.
We hope our extensive list of types of jobs after MBA degree had helped you get a clear idea and reason to pursue an MBA program.
All the Best !
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