Do you wonder how the world around you is evolving? How has humankind managed to transit itself from living in caves to a global village? The traits of adaptability, management, rapid growth, thinking out of the box, business mindset, and administration have the most outstanding shares in this evolution. You may find unmatchable illustrations of these traits around the globe and witness wonders coming into existence due to them.
The fruitful manifestation of these traits began during the 18th century in Britain. Humankind started to move from an agricultural and handicraft-based economy to one dominated by machines. During this transition, capitalism began to bloom its flowers in the form of capitalist firms. The first product of these capitalist firms was a Factory. Since then, human history witnessed industrial revolutions, and the acceptance of these attributes kept on increasing. Finance, communication, risk management, organizational behaviors, and many management subsidiaries persisted in high demand.
In 1908, Harvard university scientifically approached management and began a new educational program named master’s in business administration (MBA). This feat helped in standardizing the training for business administrators and managers of distinct fields. Master’s in business administration is a well-defined training that equips people with operational and economic understandings. Managerial processes, administration, leadership roles, mindset enhancement, and unconventional thinking are the key focuses of this program. Once an individual gets acquainted with all these abilities, he gets to be highly eligible for a starring career.
Opportunities in the Education sector
Business studies have gained ample weightage in the education sector and get promoted worldwide. Therefore, the demand for an MBA program has never been higher. Since the pandemic, numerous incentives are getting provided to professionals for enrolling in MBA. Versions like Online MBA, Executive MBA, and evening programs are abundantly available.
The only challenge you may face is clearing examinations like GMAT, SAT, and GRE, etc. But wait! you can sigh relief because many institutions have waived the requirement of these prior exams. Imagine a candidate’s motivation if he hears an institution saying AACSB online MBA no GMAT accredited programs. What else would be there to stop him from doing an MBA!
Such strong demand creates a plethora of educational employment choices. For example, you can work as an educational policy manager, a technology manager, a faculty recruiter, a curriculum manager, an educational consultant, or even a mentor in the field of education. It’s always a golden opportunity to serve an educational institution due to its diverse nature. Pursuing a career in the education sector ensures you a comfortable working environment, high salary, and broad spectrum of scope.
Opportunities in the Corporate sector
Have you heard of not laying all your eggs in one basket? MBA is a practical solution for it. It has such a rich diversity in opportunities that you would never get short of career options. MBA holders are often found in leading positions almost everywhere in the Global market. In addition, the diverse nature of an MBA encourages students to have specializations in multiple fields, especially related to finance, accounts and administration.
You can attain skills in numerous sub-categories of business administration. Certifications and training courses are always there to offer their services. This quality of MBA proves it to be one of the most suitable educational choices. You can acquire accounting, finance, marketing, risk management, human resource management, project management, and operations management skills.
There is nothing to worry about if you don’t find the prior mentioned field suitable for you. You can fit yourself in many other options like accounting, corporate strategy, decision sciences, entrepreneurship, information systems, international business, management sciences, organizational behavior, etc.
Be your boss
Are you not comfortable working for stubborn bosses? Opportunities in the education & corporate sector do not satisfy you? Don’t worry because you can always step into the market as an entrepreneur. Many students study MBA for the sake of entrepreneurship. Your MBA degree offers you full support if you want to grow your career as an entrepreneur with or without investment.
Faculty employed for MBA programs are mainly well-experienced as an entrepreneur. They have a lot to offer in the shape of their real-life experiences and the challenges that you may face while starting your own business. Not only faculty, but you can find your colleagues are working in related fields. As your professional network grows, you get more people to take guidance from about the problems.
The graduate management admission council (GMAC) interviewed over 6000 alumni of MBA programs. It concluded that 86% of alumni who were entrepreneurs founded their own companies and the rest of the established business consulting or service industries.
You can always hope for job security and a positive mar ket response for MBAs. The corporate market is well-driven by people who have backgrounds in Business administration. As an MBA, your demand would not depend on the market sector. Regardless of which sector it belongs to, every industry needs an adequate administrative framework.
A survey by Statista confers that 92% of employers declared that they plan to hire MBA graduates in the year 2020. Even after the Covid-19 pandemic, where the whole world faced the dilemma of unemployment, this demand decreased to 83% only. What else do you need to observe the market demand of MBA graduates?
You will not only enjoy job security in your career but a handsome salary as well. QS jobs and salary report declares the average salary of MBA holders in the United States to be around 102,100 USD per year. Such a secure career and handsome salaries certainly make MBA an excellent opportunity for individuals.
Master’s in Business administration has shown tremendous growth as an educational course in the past few years. Yet its demand is expected to increase only. However, it does offer you not only a hamper full of opportunities but also polishes your personality. As an MBA student, your growth as an individual is equally prevalent with your growth as a professional.
An MBA degree is not just a piece of paper. Instead, it is an anecdote of a professional experience and networking. The addition of new skills and valuable information offers career leverage in the long term. In addition, these skills and personality enhancement contribute to your success throughout your lifetime.
Jason is the Marketing Manager at a local advertising company in Australia. He moved to Australia 10 years back for his passion for advertising. Jason recently joined BFA as a volunteer writer and contributes by sharing his valuable experience and knowledge.