Does Getting My Business MBA Make Me Eligible for Other Job Titles Besides Business?
Although a master’s degree in business administration (MBA) is an extremely versatile degree, it is often thought of as being little more than a means of ascending the modern business world’s corporate ladder. A lion’s share of MBA students tend to seek out careers in one of two prestigious, high-paying, typically high-stress industries: investment banking and management consulting. They often do so in hopes of gaining familiarity with a particular finance-related industry and eventually taking an in-house position at a Fortune 500 company. This is by no means the only career path available for job-seeking MBA students, though. Here are some other industries outside the traditional private business sector where you could find a job with an MBA in hand:
Nonprofit and Government
Nonprofit organizations need to be managed like businesses. Thus, it is only logical that they would seek to hire newly minted MBAs. Unlike their corporate counterparts, it is achievement of a philanthropic goal—not the amount revenue they generate for their shareholders—that is their primary concern. They still have to manage their assets wisely enough to keep from being shuttered, though, which is why they like to have MBAs on staff. The nonprofit sector is also quite diverse, with potential employers in government healthcare, charitable organizations, higher education, private foundations, nongovernmental organizations (NGOs) and more. The federal government, along with state and local governments, provides ample opportunities for MBAs whose interests or passions lie in the public sector. Tough-to-crack federal agencies such as the CIA and FBI hire MBA graduates to fill their ranks. Consider the nonprofit sector if you are passionate about philanthropy, global development, social entrepreneurship or all of the above.
Sports
Sure, there are plenty of traditional MBA-related paths available in marketing, management, business development and strategy in the sports world. However, the analytics revolution in professional—and, in an increasing number of cases, high-level amateur—sports has created a need for professionals who trained in the science of asset valuation. Advanced metrics have forever changed the methods teams use to evaluate their own players as well as those against whom their players will be competing. Baseball and basketball have led the charge but football and hockey are not far behind. This is good news for MBA students who love using sports statistics to devise and employ new methods of analysis as it will create ample job opportunities.
Conclusion
Although investment banking and consulting remain the most common career paths for MBA students, these are not the only industries whose major players seek out MBAs to fill vacancies in their organizational hierarchy. Banks and consulting firms are not the only places where MBA graduates are in high demand in today’s job market. It is no longer Wall Street or bust, so do not be afraid to search for a career in a nontraditional field about which you are passionate. After all, there is no better payment than doing what you love day in and day out.
