Career options after MBA
Nowadays, students are not happy just doing simple graduation. Many students want to continue their education after the completion of their three/four year college studies. The economic crisis has encouraged many students to think beyond just doing simple gradation, so they want to consider some new options which can give them a better career prospects. Master of Business Administration is one of the most sought after career option among students. It offers them a promising career and a competitive edge in job market. Getting an MBA degree can prove very helpful for your career growth. At time it can help you step into right profile; achieve promotion, a higher salary, or a better career.
Most of the aspirants find the MBA career path to be rewarding and worth the investment of time and money. Some students drop their jobs to prepare for MBA entrance test to secure a seat in one of the most prestigious B-Schools of the country. They justify their decision by grabbing a lucrative job offer after completion of their course. The top five MBA employers are Google, McKinsey & Company, Brain & Company, Goldman Sachs Group and Apple, showing that technology and finance jobs are prime for the MBA career path.
One should not forget that often you need some hands-on-experience first before you will be admitted to an MBA program. Presently, most of the management institutes require career experience as a criteria for admission, so do most jobs too. Get the right kind of education is necessary to excel in the professional world, but working in the industry is equally important. Unfortunately, once you start a full-time career and decided you want to pursue your MBA, you then have the challenges of balancing work and education.
No one ever mentioned that MBA career path were easy. In addition to boost your studies and knowledge, MBA is always considered as better option for your hard work, efforts, sacrifice and achievements. In some companies employers will encourage your to pursue your MBA and at times offers financial support. Still some working professionals pay their own way taking classes at nights or even quitting their jobs to pursue their dream course in one of the B-School. There are various career options available once you complete your program such as:
Accountants make sure that all of the numbers add up and that the financial statements of a company accurately reflect the state of the company. Being an accountant is also the first step towards more advanced positions in the finance department of large companies. Accountants go on to become controllers, then Vice President of finance, or Chief Financial Officer.
Career in consulting is quite rewarding, as the average fresher can easily earn more than Rs. 4 Lakh per annum and after completing MBA one can earn between Rs.6 lakh to Rs. 8 Lakh per annum. In this field you can be asked to solve a company’s problem; you might suppose to interview all the involve parties and fix the problem on behalf of the company. Being a professional you are suppose to handle more than one project at a time. This will give you good experience and widen your horizons. Large companies see consulting as a training ground that is really valuable as MBA.
Commercial Banking Careers
Commercial banking is something seen as less popular than investment banking or corporate finance, but on the other hand it is more rewarding in many aspects. Jobs in this sector involve high risk. Here you can work independently and can also build a team of your own. This can be target oriented job, which require lots of research and data work. MBA will teach you how to build strategies and get them implemented to bring more business.
Investment banking is really two different careers molded into one. The first is Mergers and Acquisition, professionals in this field help companies to acquire other companies or to help them to merge with equals. Most of the work that a professional does includes valuing companies and looking for other companies that might make strategic merging. The most important factor is valuing companies correctly, and that is where the job of an MBA starts. You must be able to estimate the worth of the company before you bid for it. Corporate Finance is very similar to M&A, but in this profile you work as a banker, trying to raise funds for companies. This career is all about helping the Chief Financial Officer manage his assets as efficiently as possible. Most career corporate finance executives have earned their MBA.
Financial Planner helps people to invest their money in a better way. The good ones are MBA’s and something called a CFA or a CFP, which is a certification showing they taken specific courses and cleared the tests. They help people in allocation of their asset wisely that they can invest in right kind of policies for their better future. This is really a very famous career option because it has good possibilities and chance of growth. The things you learn while your MBA program will help you to develop your relationship with clients and understand their needs for financial investments and giving them right suggestions.
This is another sector where an MBA is helpful but not really necessary. In most situations, MBA adds value to your positions and makes people more likely to work with you. You will use the skills you learned when you put together models of renting verses owning, potentials of this industry, benefits of owning home or renting home etc. You will learn about various marketing and presentation skills during the program which will prove helpful for you.