Before we address this burning question, let’s begin with exploring why MBA…Why do people get into MBA programs? You have applicants coming in from all walks of professions, feeding into MBA programs and coming out, on the other end, many years ahead in securing a cushy executive position. Of course, the requirement for it to be a reputed business school is a given, in this discussion.
Applicants walking into an MBA classroom have qualifications in science, technology, consulting, finance, media and even military. They are adept at taking on challenges that only someone with a detailed knowledge of the field can handle.
But after a few years of burning the midnight oil – or in post Edison world, the office bulb – the challenges seem to dim down, while the career progression seems to gradually flat out. In fact, here are the top few reasons why engineers overwhelmingly favor MBA degrees after a few years of technical work experience (Read Why MBA after Engineering?).
What comes with an MBA is the essential preparation to manage businesses. But besides the various analytical, quantitative, qualitative and strategic training, there are certain skills, that are an integral part of the MBA curriculum, that have become indispensable to any organization. Let’s list them out.
With these, and additional powers of networking and managing the reigns of a smooth functioning business, MBA graduates go on to save the world taking on the following roles.
Here are some popular job roles taken up by MBA graduates.
MBAs play the investment gurus working in banks, insurance companies and other financial organizations. However, most investment banking, or private equity, jobs are usually reserved for candidates with banking experience prior to their MBA. Nevertheless, MBA, with finance, does add quite a nice touch in the profile of applicants looking to find a position in corporate development, hedge funds or security firms, bringing the knowledge of investment analysis and portfolio management they have acquired in their courses. Ones’ training in leadership, risk management and problem solving plays in when it comes to creating strategies to make people money, by taking their money. For further insights, read:
In the same genre, MBA graduates do find jobs in venture capitals, providing technical advice regarding which start up to invest in. It is quite useful to have prior experience in an industry that venture capitalists are interested in, thus capitalizing on ones’ core knowledge, with the additional acumen of business through ones’ MBA.
At the end of an MBA degree, a student is well aware of what it takes to make businesses run. With a business analytics specialization, they are able to see data as an analytical tool to understand the constantly evolving needs of a business. MBAs usually flourish at this job, establishing their career development by leading business operations, and strategies, based on their data analytical skills. Leadership, technical, business, problem solving and risk management skills play a huge role in accomplishing a successful career as an analyst.
While the role may be applicable to products in any industry, in the MBA world dominated by technology professionals, it is a common path chosen by techies to move into a management level in the leading tech companies. It calls for a combination of managerial and technical skills. Read up more in the articles below.
A no brainer – not the job but the fact that MBAs are a natural aid in starting a business. Besides having a coursework designed as a mini-startup, the MBA course structure also provides an initial back up so missing in the case of non MBA entrepreneurs. College mentorship, technical resources and, in some cases, even recommendations to investors within the college community can help to kick start ones’ start-up venture.
These are the corporate problem solvers. They understand the ins and outs of organizations, providing ideas to resolve issues to improve their performance. Clearly, there is a lot of emphasis on the technical business training and the problem solving skills acquired through the degree.
Interpersonal and people skills come in handy in managing people in an organization. Human Resource managers are indispensable when it comes to managing the most important resource of all, people. They are skilled in workforce welfare, without which no amount of financing, or technical expertize, can create a well oiled machine.
– Human Resource Management: HR jobs and Careers – Part 1 & Part 2
While professing the goodness of an MBA degree, we cannot leave the discussion without mentioning how subjective the need of the degree is. What’s good for the goose may not be good for the gander who doesn’t want to be involved in the administration aspect of an organization.
Research your options and more importantly, understand your own nature whether your idea of career enhancement favors a purely academic pursuit or a range of opportunities from a business administration role to a combination of your core subject and your business bend. ‘Coz while an MBA may be a right answer for the later, it is certainly not advisable in the former.
An MBA, from a good business school, can only bring out the manager, the banker, or the analytical investor, in you, not create one if your personality prefers to be miles away.
Meanwhile, here’re some links for a quick education.