Why an MBA?
Obtaining a Master of Business Administration prepares students for careers in fast-paced, rigorous working environments. Throughout the duration of these programs, students are given the opportunity to learn using tools such as literature, technology, and group efforts.
These methods are designed to prepare graduates to work in the field with a large team of professionals working towards a similar goal. When considering what opportunities lay ahead of the degree program, it is vital to consider what skills have been acquired and what fields these skills can be put to the best use.
The skills that are gained during these programs can provide graduates with a broad range of understanding in the field of business in areas that pertain to finance, marking, and management as a whole.
What can you do with an MBA?
The knowledge of business can contribute to any understanding of how employees are to be managed, how businesses should work to stay in compliance with regulation, and what is supposed to be done in the event of a problematic situation. If you enroll in this program and successfully graduate, it is probable that you will have gained persuasive communication skills, the ability to negotiate effectively, and solve even the most difficult problems. These qualities can potentially lead to careers dealing with contracts, sales, or even standard services.
With this being said, it is simple to assume that you might be cut out for some of the most demanding jobs in business available.
Potential Career Fields with an MBA
Now that you are aware of what to expect from yourself after graduation, let us consider the different career options that may be available to you. The MBA program is designed to train students to become effective leaders and problem solvers. Management positions in the field of business are vast, since business is an ever-growing field throughout society.
Whether businesses deal in sales, marketing, finance, insurance, or information technology, you would likely be a great asset with the skills gained throughout the MBA program. The diverse curriculum provided by MBA programs allows for you to indulge in all aspects of the business environment, which can give you options when choosing a career. Profound leadership skills are instilled within learners during these programs, so MBA graduates are often sought out for positions that are responsible for leading teams of professionals during project development, planning, or implementing vital business policies.
More specific field such as accounting, insurance, and healthcare also call upon MBA graduates to share their expertise within their specific disciplines. Business can be related to most all fields that provide services to the public. Within all of these fields, MBA earners may be welcomed with open arms. Take a look below at some of the common fields MBA-earners are found in.
- Management: Provides leadership to a staff of employees
- Finance: Provides services such as accounting, budgeting, financial planning, and analysis
- Insurance: Analyzes risks, provides quotes, rates, and discounts
- Sales: Manages sales budgets, seeks out potential clients, monitors progress of sales plans
- Marketing and Advertisement: Targets potential audiences, develops advertising campaigns for products or services
- Information Technology: Assists companies with computer and technology related needs, updates and upgrades business-related computer information systems
- Healthcare: Provides management in healthcare settings, works with budgets, human resources, or networking
- Consulting: Provide support to businesses in terms of management, budgeting, employment practices, and policy development
- Manufacturing: Provides management in a manufacturing environment, organizes orders, shipments, and contracts
- Non-Profits/Government: Works to manage non-profit organization or sectors of the government, create and enforce policies
What career paths are available and what are their associated salaries/job description summaries?
Chief Executive / CEO
– $189,600 on average per year (BLS; 2018)
At the highest level of management, chief executives are primarily responsible for forming policies and providing support to members of their organizations. On a daily basis, these professionals may assist with partnering with a board of directors to ensure that their organization works in accordance to regulations within their field. The planning and implementation of activities within an organization are also handled by chief executives.
Computer and Information Systems Manager
– $142,530 on average per year (BLS; 2018)
Computer and IT managers often lead a staff of specialists in planning and coordinating computer systems for various businesses. Keeping up with new technology and maintaining system upgrades is a main priority in this position, as well as training staff on the usage of technological devices and system security.
Advertising, Promotions, and Marketing Manager
– $132,620 on average per year (BLS; 2018)
Managers within this field take on the duties of creating marketing plans for the products sold by their company. They may be responsible for planning campaigns for different products and finding means to connect the product with the right market. Analysis of customer wants and market opportunities are also required in this position, as well as directing a large staff of employees.
– $127,990 on average per year (BLS; 2018)
Financial managers are the leading source of financial support for business-related entities. These professionals monitor spending, making recommendations for budgeting, and review financial reports in an effort to reduce costs. Managers in this position may also be responsible for providing insight into profitable investing as well as the entire financial decision making process.
– $124,220 on average per year (BLS; 2018)
As a sales manager, professionals are tasked with preparing budget and handling spending within their organization. They may also have a hand in resolving complaints from customers, analyzing the statistics of their company, and determining pricing plans for various products. The organization of sales territories and management of staff may also be required in this position.
Human Resource Manager
– $113,300 on average per year (BLS; 2018)
Human resource managers work for organizations, providing support and coordination to staff. Managers in this professional oversee recruitment, training, and benefits for employees, as well as handing important issues such as employee complaints, disciplinary measures, and mediation of disputes. Management positions require delegation of tasks to other specialists as well as supervision of daily processes.
Medical and Health Services Manager
– $99,730 on average per year (BLS; 2018)
Medical and health service managers provide management to staff within hospitals, healthcare centers, and rehabilitation centers. These professionals are often responsible for budgeting, spending, and customer service maintenance. Managers in the healthcare field may also be responsible for reporting status to higher up members of a board of directors and managing a large staff of healthcare workers.
Administrative Services Manager
– $96,180 on average per year (BLS; 2018)
Administrative services managers are responsible for setting goals and deadlines for the sector in which they work. Making changes to policies and monitoring the progress of operations may also be required, as well as budgeting and contract negotiations. Adherence to environmental and regulatory standards is also enforced by administrative service managers.
What is the AACSB?
MBA programs are found in great numbers both at universities and in the online setting. Students that are interested in these programs are subject to making decisions based on many different factors, including costs and reputation of schools. One aspect of degree programs that is often overlooked is the accreditation.
While some schools prove regional accreditation, other schools offer specific degree accreditations that are more reliable in terms of acceptability and quality. The Association to Advance Collegiate Schools of Business (AACSB) is a leading accreditation agency for educational programs that provide business degrees. Below is a breakdown of AACSB accredited business and accounting schools.
AACSB Accredited Master of Business Administration Programs: At a Glance
The top program specific accreditation board for Master of Business Administration programs is the The Association to Advance Collegiate Schools of Business (AACSB). The chart below can give you a quick overview of the different business and accounting programs accredited by the AACSB.
Why Consider an AACSB Accredited MBA Program?
Receiving a seal of approval from this agency guarantees that a degree program teaches only the approved curriculum in an approved format. The only way to determine if your MBA program meets the national standards for the degree program is to validate its accreditation. The AACSB provides a list of accredited agencies on its websites and most schools should display this accreditation prominently within the degree program information.
This organization sets the bar for educational programs, providing strict guidelines pertaining to curriculum, acceptance, and graduation. The goal of this agency is to provide reliable, good-quality educational programs that students can rely on. Through research and development, the AACSB connects the needs of professional organizations, schools, and students in a way that promotes better engagement within the classroom, more innovative tools for use within the business realm, and excellence within business education programs overall.
Top MBA organizations
After graduation, most students find careers that are suitable for their education and begin the long journey to professional excellence. Although it can be intimidating to start a career in a hectic field such as business, there are many resources for career-minded people that wish to do their very best within their fields.
In an effort to assist workers with providing excellent service and continuous improvement, different organizations have been developed to provide insight and information into specific business fields. These organizations are comprised of specialists, other graduates, and related entities that wish to support the increase in awareness in the field and promote better programs and education. Professional organizations for MBA-earners are widespread throughout the United States.
Depending on your specialty, you may find that many specific associations are available for you to network with other professionals, stay up-to-date on current trends and changes within your field, and share your experiences with upcoming professionals. Advice on how to handle challenges and advocacy services for unexpected circumstances are often supplied by these organizations, making them worth your while to join. Joining an organization can help you with continuing your knowledge into your selected field and assisting you with ensuring adherence to changing standards.
Association of MBAs
The Association of MBAs is a great networking resource for MBA-earners across the country. This professional association not only works to improve the educational standards that impact MBA educational programs, but also attempts to connect MBA-earners with seasoned professionals as well as upcoming professionals to assist with further learning and exposure.
American Management Association
The American Management Association is a great place for management-level MBA-earners to support change. Using seminars and web-learning, this organization works hard to further educate management professionals so that the field only increases in quality over time. For management professionals in any field, this organization provides continuous support and advocacy through professional membership.
American Finance Association
The American Finance Association is an excellent resource for MBA graduates that have specialized in a financial field. Using tools such as the well-known Journal of Finance, this organization seeks to educate professionals on changes and innovations in the field. Using these methods of education, this organization has provide a priceless resource to professionals in the field of finance.
American Marketing Association
Marketing is a field with MBA standards that requires constant change and innovation. The American Marketing Association works hard to provide these services to members that work within the field of marketing. The goal of this organization is to promote excellence in marketing and connect professionals to encourage adaption and innovation in the future. Seminars and meetings that discuss the importance of creativity and research are often held for marketing professionals that are seeking influence from experienced marketing specialists.
American Association of Healthcare Administrative Management
For healthcare management MBA earners, the American Association of Healthcare Administrative Management is a great resource for obtaining further education, networking, and advocacy during a career. If you decided on a healthcare specialty for your MBA, you may find that organizations such as this one can provide support to you throughout the duration of your career. Certification services are also available to those who qualify.
Association of Information Technology Professionals
Information technology is a huge part of business at this point in time. Choosing an IT specialty for your MBA can prove to be beneficial in terms of career availability and community support. The Association of Information Technology Professionals seeks to educate professionals on the rapid change of technology in an effort to continuously change the field. Improving technology and continuing education availability for professionals is the goal of this organization. For individuals that are involved in this field, organizations such as this one are a great additive to the MBA.