There comes a time in everyone’s career when you may wonder about the possibility of earning an advanced degree. Your career may be stagnant, or you realize that you need a master’s degree to get that promotion or apply for another job. You have some years of experience under your belt, and you may want to extend your skills and knowledge. So, what can you do with an MBA? Is it worth it?
Earning a Master’s Degree in Business Administration is often the next step that professionals take in the business world. Many of those who have earned their MBA will tell you that it is very much worth the effort, time, and money. An advanced degree increases your earning potential, qualifies you for advanced positions, and can be very satisfying overall.
A master’s degree in business administration provides you with a unique skill set that not everyone at the company holds. Your current skills are enhanced while you learn the top skills and techniques companies want to have in their workforce.
Top Career Opportunities with an MBA
There are many different job opportunities for those professionals with an MBA in their pocket. Most of these top jobs for MBA graduates include managerial roles that have a higher degree of responsibility.
1. Medical and Health Services Manager
With an aging and ever-growing population, medical and health services managers’ needs will be in extremely high demand. This sector will grow by 32% through 2029, which is much higher than the national average of 4%. While the term ‘medical’ may put off many MBA grads at first, a medical office is much like any other business. Medical and health services managers care for the business’s back-end through cost analysis, finances, and maximizing quality.
2. Marketing Manager
Stepping into a career as a marketing manager is one way to use your MBA. According to the U.S. Bureau of Labor Statistics, marketing managers average $136,000 per year. That high salary combined with a faster than average growth rate of 6% creates an excellent opportunity for those wondering what they can do with an MBA. Marketing managers oversee the marketing department and often work with large budgets to promote the company to customers.
3. Financial Manager
Another excellent option for MBA students is the ability to land a career as a financial manager. These professionals will be in high demand through 2029, with an expected job outlook of a whopping 15%! At that need, you could score extra perks and benefits in your overall package. Financial managers lead a group of finance or economic professionals who help interpret and project its financial aspects.
4. Human Resource Manager
Those business professionals working in the human resources department may want to earn an MBA to snag that top job as a human resources manager. This career touts an excellent average salary at $116,000 per year with a faster than average job growth outlook of 6%. Human resource managers direct the H.R. team of a company that works with employees daily.
5. Sales Manager
A business won’t survive without sales. Earning an MBA can help you land the top spot as a sales manager. This position helps promote sales and services to customers while also leading a team of sales employees. Sales managers make an average of $126,000 per year, and the job will grow by an average rate of 4% through 2029. Sales managers often travel as part of their job and should be great at working with a wide variety of people.
How to Get an MBA
If you’re wondering what you can do with an MBA, you should know that many people have already met the minimum requirements by earning an undergraduate degree. Learn more about the following steps to take when wanting to pursue an MBA below.
1. Earn a Bachelor’s Degree
As an advanced degree, MBA programs require you to hold a Bachelor’s degree in good standing. This prerequisite means that you earned an undergraduate degree with a cumulative grade point average that must fulfill the minimum GPA accepted to show your strength as a college student. While you may already have a bachelor’s degree in business administration, you don’t necessarily need an undergraduate business degree to pursue an MBA. Many of our MBA students hold undergraduate degrees in other fields.
2. Take a Graduate Admission Test
Before applying for admission, you must take a graduate admission test to show your current knowledge and comprehension skills. At Everglades University, interested students can take either the Graduate Management Admission Test (GMAT) with a minimum score of 500 or the Graduate Record Examination (GRE) with a minimum score of 290 on the current scale.
3. Choose an MBA Program
Selecting an MBA program is the next step in how to get an MBA. When choosing the right MBA program for you, consider the flexibility of class schedules as well as the opportunity to learn entirely online.
4. Apply for the MBA Program
Once you have chosen your top MBA programs, start applying for them by beginning the application process. Many times this includes completing an application and providing transcripts of your previous education. There may be some fees involved and some prerequisite courses to take before being admitted to the program.
Everglades University offers multiple options for our MBA students who want to concentrate on a specific area. Students can earn a Master’s Degree in Business Administration or choose one of the following concentrations:
- Master’s Degree in Business Administration with a Concentration in Accounting for Managers
- Master’s Degree in Business Administration with a Concentration in Aviation Management
- Master’s Degree in Business Administration with a Concentration in Construction Management
- Master’s Degree in Business Administration with a concentration in Human Resource Management
- Master’s Degree in Business Administration with a concentration in Project Management
These concentrations expand the opportunity for those with undergraduate degrees in other fields to learn more about how to run a profitable and successful business in their chosen industry.
So, yes, earning an MBA in 2021 is worth it, given the incredible career opportunities available as well as the increased salary. Completing your MBA online allows you the flexibility to pursue this advanced degree in the comfort of your own home or office. Learn more about our fantastic MBA program at Everglades University today to boost your career this year!