Before entering any programme, there is an underlying fear about the next steps after graduation. However, graduating with your Masters in Business Administration (MBA) opens the door to a multitude of career paths where you decide what route you want to take depending on your interests. Earning an MBA elevates your career and gives you the credential you need to get the promotion you’ve been longing for or sets you on a new career path, one you never thought possible. Apart from incredible career opportunities, an MBA also gives you access to an international network of contacts. These contacts become invaluable when you embark on the next avenue in your career as they can help support your future endeavours and pave the way for growth.
According to a survey conducted by the Association of International Graduate Admissions Consultants (AIGAC), there several reasons why candidates choose to invest in an MBA programme. The main one being, 57% wanted to acquire new skills and gain more knowledge about business. The second reason, 49% of prospective students, saying that they valued the extensive network, opportunity to advance in their current careers, and job prospects. It’s clear that a salary increase isn’t always the reason one would enter an MBA programme, because there is a real opportunity to enhance your skills and learn more about business in general.
Career Opportunities for MBA Graduates
When looking at career opportunities for MBA graduates, you don’t have to look far. Turn to your favourite CEOs and well-renowned industry leaders. Looking at the data around CEOs and MBAs, 32 of the top 100 performing CEOs have an MBA. Another interesting fact is that the average age of CEOs without an MBA is 61.2 and the average age with an MBA is 58.8 for both men and women. This data shows the growth potential an MBA gives you, allowing you to move up the ladder at a quicker pace and thrive in your career.
If you’re still second-guessing your decision to get your MBA, Tilman Fertitta, CEO of Fertitta Entertainment, the company behind Morton's The Steakhouse, Bubba Gump Shrimp and Golden Nugget casinos, says: "God gave me a gift of understanding business. [However], if God didn't give you that gift and you want to be an entrepreneur, and you want to be a business person, go get your MBA.”
Examples of other CEOs and industry leaders with MBAs include:
- Tim Cook, CEO, Apple
- Indra Nooyi, Board of Directors, Amazon
- Doug Parker, CEO, American Airlines
- Sheryl Sandberg, COO, Facebook
It’s evident that many successful people in their respective industries graduated with an MBA, but after you graduate with an MBA -- what to do next?
Career Paths for an MBA Graduate
The average mid-career pay for all MBAs is $99,587 -- regardless of the industry you choose. Graduates have no shortage of MBA career prospects and can choose a field where they can best apply their strengths. However, using PayScale, Monster determined seven common high-salary MBA specialisations, five of which are:
This career path is the top-paying specialty on the list as this route allows you to influence a company’s success by creating strategies that inform the business on the best actions and decisions to take.
You’re likely to make: $127,000 per year.
- Management Consultant
- Senior Product Manager
- Finance Manager
While an MBA isn’t a requirement for this field, it gives you an edge over other candidates as you will have a good grasp on the business and make critical decisions around a company’s technology solutions to influence the bottom line.
You’re likely to make: $113,000 per year.
- Information Technology (IT) Director
- Vice President of IT
- Senior Product Manager, IT
With a solid understanding of strategic decision-making and operations management, an MBA will give you the platform you need to start your own business and be successful. You also have the opportunity to innovate in your current career and propel the business forward with your strategic solutions.
You’re likely to make: $106,000 per year.
- Senior Product Manager
- Product Manager, Software
- Management Consultant
If you are looking to get into finance, an MBA is practically a requirement. You need to be able to interpret financial statements and other financial information to make decisions around the allocation of capital.
You’re likely to make: $103,000 per year.
- Finance Manager
- Chief Financial Officer
- Senior Financial Analyst
An MBA teaches you skills that apply to industries across the board -- marketing being one of them. An MBA can help you excel in marketing as you will be able to use appropriate concepts, frameworks, and models to inform strategic decision making.
You’re likely to make: $95,500 per year.
- Vice President, Marketing
- Marketing Director
- Marketing Manager
There is no shortage of career opportunities with your MBA, and many of these jobs are high-paying and influential. With a strong understanding of business, finance, and entrepreneurship you can make an impact in the industry that makes the most sense for you. Find out what your strengths and interests are, and use your MBA to influence business decisions and solve complex business problems.
Aston University: Online MBA
After highlighting top CEOs and leaders with MBAs and the influential career paths that become available to you after you graduate, it’s evident that investing in an MBA is a decision that will propel your life in a position direction.
However, how do you know which MBA programme is the right fit for you?
The Aston University online MBA programme is an option available to you that allows you to level up in your career while having the flexibility to complete your MBA from the comforts of home. This programme is for ambitious professionals who want this credential to further their careers or transition to the profession of their choice.
The benefits of this programme include:
- 100% online - bringing quality UK education to your doorstep;
- Affordable, accredited quality degree;
- Work experience counts - entry route without undergraduate degree available;
- Flexible study option - perfect for working professionals; and
- Joining a global alumni network of more than 90,000 - build connections with peers, instructors, and potential future employers.
An MBA might not be mandatory for all careers, but the career opportunities for MBA graduates are endless and vary across a wide range of industries. By investing in your MBA, you’re investing in your future. The Aston University online MBA programme provides a strong connection to business and industry, with courses delivered 100% online, on any device, so you have the flexibility you need to complete the programme on your schedule. It’s a two-year MBA programme from a reputable university, one that will stand out on your resume and enable you to pursue the career of your dreams.