Since getting an MBA is a huge investment of time and money, it’s important to know (or at least have some idea) of the return on your investment. MBA Colleges charge anywhere between $3,000 (for online programs) and $30,000 or more per year, depending on the one you choose. Top business schools like Wharton and Harvard charge much more. That’s why it’s so important to make sure your investment pays off after you graduate. The good news is that MBA degrees carry a lot of clout, and many graduates earn the reward of a top executive position. An MBA degree is the first step toward a long and successful career.
In fact, MBA graduates open doors to a wide range of jobs from a variety of fields. For instance, some graduates choose a career in marketing, while others pursue top management positions in other fields like public relations or project management.
While most MBA Colleges design their programs around business management, students can still take advantage of their degrees by working in a variety of functions within healthcare, human resources, and marketing.
You can think of an MBA as a one-way ticket to higher-level positions in other fields as well. For example, if you already work as a nurse or teacher, an MBA is bound to open doors for management positions in education and healthcare.
As an MBA graduate, you can add banking, financial management, accounting, and economics to your long list of possible careers, especially if you’re willing to take on a supervisory role. Undoubtedly, your MBA studies will help fine-tune your decision-making and management skills to help you excel in those higher-paying positions.
Regardless of where you started your career (healthcare, education, marketing, public relations, or project management), an MBA degree can help you move up the ladder to a higher executive position within your organization.
Whether you learn to manage money, people, or resources, MBA programs are designed to help build knowledge and expertise about a wide range of business topics. As a graduate, you will find many opportunities in the business world by applying the knowledge you’ve learned in school.
MBA Marketing Careers
In today’s economy, marketing has become a competitive career, and obtaining an MBA degree with an emphasis in marketing gives you a competitive edge when searching for a good job. From shampoos to cars and computers, in general, marketing helps raise the public’s perception of a wide range of products and ideas. Marketing has become a highly competitive career, but if you have the desire to succeed, pursuing an MBA in marketing is a wise decision.
The curriculum for an MBA marketing program focuses on online and offline marketing strategies. In today’s marketing courses, you can expect to become familiar with the latest in marketing technology, including search engine optimization, email campaigns, and pay-per-click advertising to name a few. Knowledge of these particular marketing strategies in your program helps broaden your career options once you graduate.
Marketing MBA Coursework
As an MBA marketing student, your coursework includes the following:
- Consumer audience and behavior
- Analysis of demand
- Market research and campaigns
- Strategic planning
- Consumer relations
Marketing MBA Careers
Some of the top MBA marketing jobs and careers include the following:
- Public Relations Specialists – The professional in this position is responsible for managing communications between business and customers. The average salary for a Public Relations Specialist is typically $51,000.
- Market Research Analysts – In order to influence marketing strategies, the individuals in this position conduct public opinion surveys to maintain a customer base. The average salary for this position is $61,070.
- Advertising Manager – The people in this position oversee various promotional campaigns in order to attract a new customer base. Additional duties include monitoring the marketing methods from other companies in order to stay ahead of the competition. The average salary for this position is $80,220.
- Marketing Manager – Responsibilities for a Marketing Manager position include finding new markets, watching new trends, and recognizing new products and services. In the end, managers in this position help companies gain a better understanding of how customer demand can affect the company’s profits. According to the Bureau of Labor Statistics, the average salary for marketing managers is $113,400 as of May 2008.
As companies continue to address the way they connect with customers, more career options become readily available to those who are up-to-date with the latest marketing trends.
Graduates of marketing MBA programs pursue careers in public relations, advertising, sales, marketing, and event planning. Additional jobs for marketing MBA graduates include retail stores, financial investment companies, motion pictures, and Internet service providers and others.
Whether you’re looking for a managerial position or starting a new marketing career, an MBA degree with an emphasis in marketing is a great choice. Businesses recognize marketing as a critical component, and as a result, marketers are in high demand.
Overall, marketers have an increased role in business and are in high demand. In the current economic environment, companies are struggling to maintain their customer base using better branding and other marketing techniques. A good MBA program will teach you the marketing strategies needed in order to land a great career in marketing.
Because of the impending retirement of baby boomers, the Department of Labor also says that the job market will open up for marketing managers. To ensure that you’re in the best position to inherit one of these openings, a Master’s degree in Marketing is critical to your success.
Considering an MBA with an Emphasis in Financial Management
Whether you’re considering an MBA degree with an emphasis in account management or financial management, there are plenty of positions available for you within the financial industry. Most prospective jobs for finance majors fall within investment banks, corporations, and securities firms; however, many finance MBA graduates follow careers in the consulting industry as well. Since financial management positions are high-paying jobs with plenty of opportunity, an MBA degree with an emphasis in finance is worth serious consideration.
Financial Managers and Financial Analysts
Both financial analysts and managers use historical data to make decisions; however, the financial manager oversees the production of financial analysis and reports to help the company with business development and strategic planning. On the other hand, financial analysts use those reports to shape the company’s investment and business growth. Financial analysts also use cash management strategies help the company grow efficiently and maximize profits.
Financial managers and analysts also play an important role in mergers, acquisitions, and global financing. The Bureau of Labor Statistics reported that Financial Managers/Analysts make between $99,330 and $135,070 per year.
Additional Careers for MBAs with an Emphasis in Finance
The following are some additional positions that are available for MBA graduates with an emphasis in finance:
- Accounting Managers – Accounting managers are responsible for tax reporting and creating income statements for controller and audit groups. An MBA degree with an emphasis in finance also provides the coursework needed to prepare for the CPA exam. This career path can also lead to positions as a corporate treasurer, corporate controller, or CFO (Chief Financial Officer). The average salary for accounting managers is $81,000.
- Corporate Controllers – A controller’s main function is to prepare reports to help forecast/predict the company’s financial situation. These reports consist of balance sheets, income statements, earnings analysis, and expense analyses. A controller also oversees the company’s budget, auditing, and accounting departments. Salaries for corporate controllers range between $60,028 and $153,091, depending on the company and location.
- Chief Financial Officers – The Chief Financial Officer (CFO) supervises all accounting and financial operations within an organization. He/she also administers the company’s general financial policies and strategies. CFOs that work for smaller companies are responsible for all of the financial management duties, while a CFO for a larger company delegates some or all of the responsibilities to other managers within the company. The United States Bureau of Labor Statistics reported that the average salary for CFOs in 2008 was $160,000.
- Treasurers and Financial Officers – Treasurers and financial officers manage a company’s investment activities by raising capital, overseeing cash management, and managing the company’s capital investment activity. Financial officers also play a significant role in a company’s merger and/or acquisition activities. The average salary for treasurers and financial officers in the U.S. is $123,335.
- Cash Managers – Cash managers are responsible for overseeing and controlling cash flow for both accounts receivable and accounts payable. He or she is also responsible for ensuring that the cash position of the company is sufficient to meet current and forecasted needs, and whether adjustments in investment quantity and type are necessary.
- Risk and Insurance Managers – Risk managers and insurance managers help minimize the amount of loss and risk a company incurs, as well as the amount of risk to which the company is exposed. If you’re thinking about going into the risk management field, you should have a basic understanding of profit and loss management. The average salary for risk and insurance managers is $98,330.
- Investment Bankers – Investment bankers will work together with investors and institutions in order to raise capital. An MBA in the investment field can be an enormous asset because you’ll be giving advice to your clients in order to raise large amounts of capital for them. Starting salaries with an MBA degree range from $90,000 to $180,000 (after bonuses). Bonuses are typically between 10 to 50% of your salary to start.
Obtaining an MBA in Healthcare Management
Did you know that an MBA degree with an emphasis in healthcare management is in high demand even in today’s economy?
Currently, the healthcare industry has one of the fastest-growing job markets, bringing in some of the highest salaries. Salaries in the healthcare field range between $48,300 and $137,800. On average, healthcare managers with an MBA earn $80,240 annually. If you’ve decided to pursue a management career in healthcare, you’ve chosen the right industry at the right time.
An MBA degree with an emphasis in healthcare management offers classes such as hospital management, administration services, and economics. Additional courses include accounting, business law, and marketing. Once you graduate with an emphasis in healthcare, you’ll be able to secure a long-lasting career in healthcare management or related area.
As a healthcare professional, your responsibilities include coordinating, planning, and supervising all aspects of healthcare services. As the healthcare industry continues to grow, there will also be an increase in career opportunities for professionals looking to advance their careers.
Healthcare Job Opportunities Are on the Rise
As the urbanization of many populations in America has led to the spread of disease, more jobs have become available in the healthcare industry. Additionally, more healthcare professionals are needed in the healthcare arena to help solve these issues. If you like challenges and problem solving, a career in healthcare management may be the perfect opportunity for you. Over time, your career in healthcare management will become a challenging and rewarding experience.
As the demand for healthcare continues to grow, management jobs are beginning to flood the market. The Bureau of Labor Statistics predicts that healthcare management is one of the highest-paid positions, and the industry in general will also experience many advancement opportunities in the near future.
As an added bonus, most healthcare workers enjoy job satisfaction because they spend their days in selfless labor to improve other people’s lives. By helping other people better their lives, professionals in healthcare have a meaningful relationship in their jobs.
The following are some additional benefits of an MBA degree with an emphasis in healthcare:
- An MBA in healthcare gives you the tools you need to succeed in a dynamic field.
- As an MBA graduate in the healthcare field, you improve marketability, facilitate career changes, and increase your salary.
- You’ll attain analytical skills, human resource skills, and a keen grasp of financial principles.
- A healthcare MBA program gives you an enormous networking opportunity.
- Top healthcare management MBA programs teach you how to make hands-on business decisions in a healthcare setting.
You’ll learn how current industry trends can influence your decisions as a manager. You’ll also learn how to shape the future of healthcare based on those trends.
In general, academic programs in healthcare lead to careers in Pharmacy, Alternative Medicine, Nutrition, Psychology, and Nursing jobs. Depending on the type of career you choose, any number of healthcare degrees becomes appealing, but the best possible choice is an MBA in healthcare management.
If you’re wondering how MBA Colleges can help advance your healthcare management career, the first place to start is by doing some research on the Internet. Since MBA programs can be very expensive, it’s always a good idea to weigh the pros and cons of each program before you get started. With so many different types of MBA programs available, you can narrow your search by determining which one best suits your needs and interests.
Pursuing an MBA Degree in Human Resources
For students seeking career advancement in the human resources (HR) field, an MBA degree from an accredited college looks very promising. The human resources field opens doors to new opportunities and management positions for MBA graduates.
The Bureau of Labor Statistics projects that by 2018, as many as 184,500 new jobs may be created in the area of human resources. MBA graduates are likely to find more career opportunities in order to demonstrate their expertise in different areas of HR management.
With the advent of new technologies, MBA programs in human resources offer flexibility to students given the increased availability of computers and electronic resources. With telecommuting and online classes, students can save money by no longer travelling to classes.
Typical coursework in human resources includes:
- Business strategy
- Operations management
MBA courses also teach you how to handle important business decisions such as hiring, position alignment, and employee compensation. As a human resource MBA student, you’ll learn about the legal regulation of the hiring and firing process, wage and hour laws, and more. You’ll also gain the knowledge and skills for managing human resources with regard to of promotions, product pricing, and product strategies.
MBA Colleges teach you how to develop the organizational skills and abilities to tackle multiple projects at the same time. In addition, you’ll learn how to manage budgets and create strategic plans.
Why is Human Resources So Important?
Although many executives focus on the bottom line and making profits, they still believe that highly skilled and dependable employees are the bread-and-butter of any business. Physical resources, equipment, and products are essential when it comes to running a business, but these physical items will never replace good, hard-working individuals in the business world. That’s why human resources (or the business of managing people) plays such an important role in any business or organization.
Human resource MBA programs teach graduates the skills needed to qualify for a Director of Human Resources position. These are typically high-paying positions, and you can easily earn a six-figure income as a director.
What’s the Salary Range for Human Resource Managers?
According to the Bureau of Labor Statistics, the mean annual salary for HR positions was $59,070 in 2008; however, this amount varies based on other factors such as experience, location, and the type of company you work for.
Salary ranges also vary greatly, depending on the industry in which you choose to work. The following table shows human resources salaries and industries:
- Industry Salary
- Technical Services $101,570
- Accounting $103,990
- Scientific Research and Development $94,860
- Advertising $96,620
As a human resources MBA student, you will learn about the legal regulation of the hiring and firing process, wage and hour laws, and more. You will gain essential knowledge and skills for managing human resources in the areas of promotions, pricing, and product strategies.
Many corporations help pay for MBA programs for their executives, since no time is lost from work. Financial aid and scholarships are also available for MBA programs. The average MBA program that specializes in human resources lasts approximately two years; however, online study programs are available to accelerate the learning process and graduate sooner as a result. If you’re thinking about pursuing an MBA in human resources, don’t hesitate to do so. The HR field offers plenty of opportunities and high salaries for those wanting to specialize in the field.
MBA in Project Management
An MBA with a specialization in project management is becoming a high-demand degree. Project management is a key function for all types of businesses, and project managers work in many industries, including software, information technology, pharmaceuticals, and finance, to name a few. Project managers help streamline projects to meet a company’s goals and objectives, and increase profitability as well. If you’re thinking about pursuing a career in project management, you’ll find that an MBA program with an emphasis on project management will boost your chances of success significantly.
What Is the Job Outlook for Project Managers?
As far as job outlook is concerned, the U.S. Bureau of Labor Statistics reports that project management within the scientific and technical areas will be the fastest-growing industry in the near future.
The Bureau of Labor Statistics also reports that growth in project management will result from different factors, such as an expanding economy, increased technology, and complex business structures. In addition, the economy is experiencing a trend toward outsourcing and globalization in the workplace, making project management even more attractive to those seeking positions in that area.
Although the future looks bright for project managers, competition for those positions is unavoidable. However, despite the expected job growth, project management positions are readily available to those seeking higher education (especially MBAs with a specialization in project management).
What Are the Job Duties of a Project Management Consultant?
In general, project managers assist companies in making sound business decisions. These people also oversee and manage business projects from inception to completion. In order to achieve financial goals and objectives, project managers plan, develop, and execute schedules in order to ensure timely completion of projects within an organization.
Additional duties include hands-on involvement throughout the life cycle of a project, as well as communication with staff to make sure everyone is on track for completion. In a software environment, a project manager works closely with software developers to ensure that software coding and programming are completed on time. After that, project managers work with quality assurance personnel to make sure the code is bug-free and software tests are completed and documented on schedule. Finally, the project manager works with technical writers to ensure that the software documentation is completed on time as well. Overall, project managers coordinate all team activities.
Project manages analyze data and identify trends and deficiencies in order to prevent any problems down the road. Project managers also develop and implement contingency plans during the course of a project.
Although some project managers telecommute, most of them work in offices. Occasional travel to satellite offices and other facilities and other locations may also be required.
What Types of Skills Do You Need for Project Management?
Top employers are looking for project managers who are sharp, creative, and motivated. Since many of them are looking for specialized knowledge in areas of management, a degree from one of many fully accredited MBA Colleges is definitely in your favor.
Career Opportunities in Project Management
Graduates with an MBA in project management have no problem at all finding a job in their field. These people are able to find work in a variety of large companies—from construction to oil and gas and mining. Many experienced project managers find jobs overseas, where they work as independent contractors. Average wages for entry-level managers start at $107,000, and more experienced professionals earn over 186,000 per year. If you have the skill and the drive to become a project manager, don’t hesitate to get started on your new career. With so many colleges and universities offering MBA courses in project management, you should be able to find one that suits your needs.
Can an MBA in Public Relations Help Advance Your Career?
If you already work in public relations for your company, then you may be looking for a way to move up the corporate ladder into a higher management position. If this is the case, a public relations degree from one of many MBA Colleges is the first step for your future career. As a public relations specialist, you’ll be responsible for directing and guiding corporate communications between your company and its customers.
This article explores an MBA in public relations programs, as well as the kind of career you can expect upon graduation from the program. Public relations can be defined as promotions that create good will for a person, a company, or an institution. In other words, public relations help promote and protect an organization’s image and products.
What Are the Requirements for an MBA in Public Relations?
Public relations specialists maintain a healthy image for all types of organizations. To get into public relations, you need drive, commitment, initiative, creativity, and good judgment. However, your most important asset is ability to work and communicate well with others.
A public relations graduate degree requires the ability to analyze trends, predict consequences, and create a plan of action that serves the public interest. Put simply, a public relations graduate manages communications between customers and organizations.
In today’s economy, most companies not only require great people skills, but they also seek professionals with excellent leadership and communication skills as well. The best way to gain these skills is to pursue the Masters in Business Administration (MBA) degree in public relations.
In your first year as an MBA student, you’ll learn core competencies such as economics, strategy, and leadership. Your second year will cover advertising and copywriting. In addition, you’ll learn all the dynamics of mass communication, such as research and analysis, press releases, and media relations. Since public relations is a competitive field, an MBA will definitely give you the advantage you need. As a public relations student, you’ll need to study trends and gain writing and public speaking skills.
Your education and training in a public relations program will give you the head start you need to get your foot in the door.
What Kind of Career Can You Expect?
Once you complete your MBA in public relations, you’ll have access to a wide variety of management careers, including advertising, marketing, sales, press relations, and many more. Public relations professionals are also needed in public and private sectors, educational institutions, and government offices.
Regardless of the type of organization for which you choose to work, there are plenty of opportunities available in the public relations field.
Expected Salary and Career Growth
While there is a demand for jobs in public relations, it’s important to note that the number of people entering public relations has increased dramatically over the past few years. But don’t worry.
Many people still find jobs in a variety of media-related disciplines. An MBA degree in public relations makes you aware of the skills you need and gives you a big advantage over the competition.
When you graduate with an MBA in public relations, you can expect an income range between $30,000 and $100,000 per year, depending on the company and location you choose.
On average, salaries range between $35,000 and 65,000 annually, and the job outlook for public relations careers is good. Your chances increase two-fold if you speak a second language. If you are interested in advancing in public relations, consider an MBA degree. Take the next step for your future today.