MBA Career Options

MBA or Master in Business Administration is a postgraduate course that aims to acculturate students with the ins and outs of running a business. It puts a student in the driving seat of business. It has soared in huge popularity due to its attractiveness in terms of new career paths, professional development opportunities, and increased financial benefits. A variety of career options await an MBA degree holder. In this blog, we will explore what exactly is an MBA program and what are major MBA career options you can explore after completing this course. 

Must Read: Scope of MBA in India and Abroad {in HR, IT, BA, Finance}

MBA Career Options: Overview of MBA

Master in Business Administration (MBA), as discussed is a postgraduate degree programme which teaches students to deal with the major functions of a business. This may include finance, marketing, human resources, operations, technology management and much more.

An MBA program is typical of two kinds: a General MBA and a Specialised MBA. General MBA is where all disciplines are equally focused upon and students gain important insights into all aspects of a business.

A specialised MBA gives a basic understanding of all facets of business management along with focusing on a specific field. A Specialised MBA program, focusing on core disciplines like marketing, human resources, operations, strategy, and finance affords students the to become experts in their field of choice. 

Both the General MBA and Specialised MBA are designed to suit the needs and requirements of different kinds of management students and professionals.

Must Read: MBA Streams: Courses, Universities & Skills

Why Study an MBA in 2023?

MBA assists individuals in obtaining their desired MBA positions. Let’s take a look at why an MBA can help you get the job you want.

Cross-Cultural Competence: Every organization wants its staff to have a deeper understanding of different cultures and individuals. This aids the company’s smooth and effective operation. They perform better in their MBA because they have a greater appreciation for people from diverse cultures. Jobs are eliminated, and the organization becomes a closed unit. Students from various countries study together while pursuing an MBA, which fosters cross-cultural respect and acceptance.

Knowledge from Experience: MBA is a topic in which students learn about the functions of various firms and scenarios. Many case studies are taught, learned, and understood by pupils, allowing them to avoid repeating past mistakes.

MBA Network Development: Students learn their studies together over two years, but the friendships they form in college endure a lifetime. Even though they study together, the majority of students work in distinct companies. Even though their MBA jobs are in separate regions, the link they formed throughout their MBA remains and can be exploited later in their professions. Companies also use these contacts to build stronger partnerships with other companies around the world.

Leadership Skills: Business degrees help students develop leadership skills over two years. They also participate in internships where they gain real-world experience. Every company wants to hire kids with leadership skills. MBA programs assist students in developing their leadership abilities.

Also Read: Best Answer for Why MBA

MBA Career Options: Popular Specialisations

Here are the popular specializations people take after MBA:

Finance

This is the most opted-for specialisation for pursuing a Specialised MBA. It deals with the tools and techniques that are used in the financial world. Students are taught investment management, derivatives, behavioural finance and much more.

After completing an MBA in Finance, one can find a job in the following sectors – 

• Corporate Finance
• Corporate Banking
• Credit Risk Management
• Asset Management
• Hedge Fund Management
• Private Equity
• Treasury
• Sales and Trading

Must Read: MBA Finance Subjects Semester Wise in India & Abroad

Marketing

Marketing is how companies tell about their products to their prospective customers. It is a discipline that has evolved over the years with continuous innovations in the business industry.

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

Also read: MBA Marketing Subjects – Know What You Will Learn

Business Analytics

MBA in Business Analytics is a specialization field that teaches students how to use various analytical tools (statistical and quantitative analysis, explanatory and predictive modelling, data visualization, etc.) to gather data from multiple sources and analyze it to gain valuable insights into customer behaviour, market trends, and other business intelligence-related matters.

Operations Management

Operations management is concerned with maximizing all aspects of business operations, such as product quality and cost, manufacturing time, increasing productivity, and increasing customer happiness.

Graduates with an MBA in Operations Management usually bag jobs in product/service-based units, including – 

• Retail
• Logistics
• Hospitality
• Transportation
• Manufacturing
• Construction
• Financial Institutions
• Management Consulting
• Information Technology

Must Read: Job Oriented Courses after MBA For An Extra Edge [2023]

Other Popular Specializations

These are some other popular specialisations for pursuing an MBA program: 

• Human Resources
• International Management
• Strategy
• Technology Management
• Healthcare Management
• Tourism and Travel Management
• Hotel Management
• Media Management
• Aviation Management
• Retail Management

Also Read: Why MBA in HR?

MBA Career Options: Top Universities for Pursuing MBA

Various renowned universities around the world offer some of the best MBA degree programmes. Harvard Business School, MIT Sloan, London Business School, INSEAD, Stanford University, Stern School of Management, and New York University are among the world-renowned business schools for pursuing an MBA. 

Harvard Business School, Harvard University, USA

Studying MBA from Harvard Business School (HBS) offers you an immense understanding of the facets of management along with world-class opportunities and exposure. Being one of the world’s most innovative business schools, the case study method of teaching at Harvard Business School has been adopted by a host of other institutions. It also offers joint degree programmes in association with other disciplines like Public Policy, Medicine, Law, Engineering and Biotechnology.

All you wanted to know about ‘Harvard Business School’

Sloan School of Management, Massachusetts Institute of Technology, USA

The Sloan School’s MBA is a two-year program geared towards finding creative solutions to challenging problems of the world. This program has three tracks, namely, the finance track, the entrepreneurship and innovation track and the enterprise management track. Furthermore, it provides students with a chance to customise their course after they complete the core first semester.

London Business School, UK

Based in the heart of London, London Business School has the most comprehensive MBA programmes in the world. The curriculum of these programs is hugely customisable to suit one’s interests and inclinations. Depending on your choice, it can be completed in 15, 18 or 21 months. It offers global business experiences and international exchange as well. 

Entry Requirements for MBA

The most essential element of entry requirements is that applicants are generally required to have at least 2 years of work experience to get into top schools. A good score on the Graduate Management Aptitude Test (GMAT), a consistently high GPA and a strong statement of purpose form the other prerequisites.

Also Read: How to write SOP for MBA

MBA Career Options: Certifications

During or after an MBA, students can choose to pair their degrees with international certification. Prevalent certifications that help in expanding MBA career options are Chartered Financial Analyst (CFA), Financial Risk Management (FRM), Certified Public Accountant (CPA), etc.

Popular Career Choices

There are immense career options to pursue after completing an MBA in your chosen field of interest. Here we listed all the popular career choices to explore after an MBA:

• Financial Analyst
• Management Consulting
• Entrepreneurship Expert
• Marketing Professional
• Data Analyst
• Healthcare Management Expert
• Human Resource Manager
• Information System Expert

Must Read: What Can You Do With an MBA Qualification?

Types of MBA Jobs

Specializations	Job Profile
Sales and Marketing Jobs	A Person holding a job in this category is responsible for doing research and developing marketing opportunities. Also responsible for planning and implementing new sales plans. This specialization can turn you into a Brand manager, Sales Manager, B2B Sales Manager, Digital Marketing Manager, etc.
Finance Jobs	Finance jobs do decision-making in a company, and they make decisions in areas such as Investment banking, Risk management, budget making, financial planning, and many more. MBA Finance can turn you into a Financial Analyst, Finance Manager, Accounting manager, Private Equity Associate, etc.
Human Resource Jobs	Managing talent, handling the compensation and employee benefits, training new staff members, ensuring workplace safety, etc., are some of the key responsibilities of an HR resource. Jobs like HR Manager, HR Assistant, Employee relations manager, etc., are offered for this specialization
IT & Systems Jobs	These job profiles take care of an organization’s hardware and software requirements. Jobs offered for this specialization usually are Project Manager, Product Manager, Business Analyst, etc.,
Business Analytics Jobs	Analyze data related to past or present using modern technology and refine the data. This is performed to design future growth. Data Scientists, Data Analysts, Analytics managers, BI Analysts, etc., are the outcome of this specialization.
Operations Jobs	Forecasting, Designing products, Handling supply chain processes, Managing inventory, and maintaining quality are some of the responsibilities that an operations job handles. Some of the jobs offered for people who attained this specialization can be Business Operations Manager, Logistics Manager, etc.
Retail Management Jobs	Day-to-day supervision of retail stores is taken care of by Retail Management jobs. Staffing, Sales, and stock management form a majority of the responsibilities. Jobs like Retail Manager can be achieved after this specialization
Supply Chain Management Jobs	Logistics and supply chain management form an important aspect in fields such as FMCG, Manufacturing, etc., Warehouse managers, SAP Consultants, supply chain analysts, etc., which are some of the jobs that an MBA supply chain management degree holder can get.

Salary for Top MBA Specialisations

Specialization	India	USA	UAE	Australia	UK
Sales and Marketing Jobs	₹ 0.2 Lakhs to ₹ 13.1 Lakhs Avg: 3 LPA	$114,029 and $147,771 Avg: $129,918	60,000 to 294,000 AED Avg: 144,000 AED  per month	$62,500 to $113,100 Avg: $74,472	£28,000 – £76,000 Avg: £45,961
IT & Systems Jobs	5 Lakhs to 12 Lakhs Avg: 5.77 LPA	$57,000  and $1,25,000 Avg: $89, 063	AED 16,800 – AED 1,10,960 Avg: AED 1,80,000	$113410 to  $159724 Avg: $134408	£34,000 to £76,000 Avg: £ 50,712
Business Analytics Jobs	₹ 5.0 Lakhs to ₹ 18.0 Lakhs Avg: 5.4 LPA	$ 57K  to$ 1L Avg: $80,774	AED 60,000 – AED 318000  Avg: AED 180000	$99,485 and $140340 Avg: $ 111205	£26,000£74,000 Avg: £43,764

Must Read: Want to Land Your Dream MBA Job? Follow these Steps!

Top Recruiters for MBA Students

Here are the top recruiters for MBA students worldwide:

• Amazon
• Google
• Hindustan Unilever
• Mckinsey & Co.
• Bain & Co.
• Goldman Sachs
• Microsoft
• Boston Consulting Group
• Coca- Cola Company
• JP Morgan Chase & Co.

The top five Indian companies that hire MBA graduates are:

• Tata Administrative Services
• Aditya Birla Group
• ITC
• Flipkart
• Asian Paints

How Much Salary Gets Increased After MBA?

An MBA can considerably boost your employability with reputable companies. This degree puts you ahead of other undergraduate degree holders. MBA graduates are always prioritized above other graduates in terms of job titles and pay scales due to their superior financial literacy and knowledge of business operations.

However, simply obtaining an MBA may not result in a higher salary. The repute of the institution from where you graduated, as well as your professional experience in the subject of business administration, are important considerations. Earning an MBA from a reputable college can significantly boost your salary and, as a result, your standard of living.

Must Read: Career Goals for MBA Aspirant in 150 Words [Examples]

Life After MBA

According to an MBA50 poll of 1108 students from the world’s top business schools, the Happiness index after an MBA is 8.53. The pre-MBA happiness index was just 5.98, but it grew to 7.71 throughout the course and 8.53 thereafter, indicating that people became happier from the time they enrolled in the program until they completed it.

However, big earnings come with some of the most exacting demands, which is why this profession can be regarded as unbearable or insufferable at times, according to several MBA alumni. Moreover, pursuing an MBA in a high-growth industry would undoubtedly advance your career and help you build a variety of technical skills and soft skills.

Conclusion

We hope that this post has given you a better idea of what these MBA specializations teach and the employment options they provide. MBA is a worldwide recognized and acclaimed degree that guarantees well-paying jobs. However, not all management positions are adequately compensated. As a result, in order to secure your dream job, you must first determine which MBA specialization best fits your career objectives. Once you’ve figured it out, the rest will be much easier.

FAQs

Hence, there are various MBA career options to pursue after studying for this renowned degree in management and business administration. With the rise in disciplines, courses offered and universities to choose from, applicants need to meticulously judge and evaluate programs that suit their interests. Let our Leverage Edu experts assist you in finding an ideal MBA program in your field of interest along with guiding you to get shortlisted in the college of your choice.