MBA has become the most popular master’s degree worldwide. Nowadays in the corporate world, this degree has been recognized to be a necessity for individuals to get promoted to the top management levels. Millions of students worldwide are reaching out for this degree in order to gain corporate success in the future. According to The Telegraph, MBA has been ranked the second most popular degree course, globally (http://www.telegraph.co.uk/education/universityeducation/8695883/The-top-10-most-popular-degree-courses.html?image=1). This course prepares students to become strategic leaders and even inculcate in their minds the sense of managing businesses. After pursuing an MBA students have a variety of options. They can pursue regular jobs as company managers by getting campus placements or they can chose to become entrepreneurs managing their own businesses. The best possible career options for MBA pass outs have been discussed below.
This is the most popular career that a person can pursue after MBA. This is basically a high salaried job even for fresh pass outs as they can expect a startup salary of above 50,000 per month. It also enables a person to rise to power as long as they provide good investment advice. For this job a person needs to have a Finance specialization in their MBA fields. In fact, this job requires a person to put forwards all of his basic knowledge and skills that he has earned during his MBA course like knowledge of money, accounting and business management.
Nowadays, the number of investors who are into buying new businesses has increased. These investors rely on quality advice regarding the choice of businesses to invest upon. The role of the venture capitalist thus is to guide these investors into investing properly into the right kind of businesses. This can be an independent profession and if MBA pass outs with Finance background pursue this career path, they can make huge amount of money by providing effective and efficient advice to the investors.
In my own opinion, the reason why a person pursues an MBA is because of his desire to identify, analyze and solve problems. The career path to be followed in order to do so is of an Analyst. The job of an analyst is very detail specific and requires a person to analyze financial or market trends and issues and figure out solutions. Analysts can be of two types. Financial Analysts who must possess a MBA specialization in Finance, reviews current stock pricing changes and predicts future trends. A marketing analyst who should have a MBA specialization in Marketing is required to review demographics and success of current or previous advertisements and find out possibilities to create a better advertisement in the future.
Students who wish to pursue their career as a financial or marketing analyst can expect a startup salary in the range of 20,000 to 30,000 per month based on their specialization areas. The scope in this field is high and many people opt for this career path after MBA.
The job of a management consultant or management analyst is very prestigious. As I myself had been a management consultant in one of my previous organizations, there I had advised company supervisors and even CEOs, who had consulted our firm, on ways to boost their business. The job of a management consultant requires the consultant to travel to his client company, investigate its corporate structure and give recommendations to improve profit.
New entrants to this field can expect a salary in the range of 25,000 to 30,000 per month. They can initially join as a management analyst and in seven to eight years period can see themselves as a consultant. If a person chooses to be an independent consultant, then he can expect he can expect huge payouts from his clients.
Human Resource professional
Persons who have their MBA specialization in human resource can chose to become Human Resource Managers in their coming years. As the organizations of today mainly rely on people management and workforce welfare, Human Resource area has gained prime importance. Initially students can opt for campus placement in some organization as a Human Resource associate. After a period of six to seven years based on their performance they can attain the position of a Manager in this field.
However, the salary payout in this area is comparatively lesser than other fields. But if a person has the willingness and zeal he or she can shine and come out as a successful professional within a few years time.
Studies have revealed that almost 80 percent of the people around the world pursue an MBA with the hope of becoming an entrepreneur. Entrepreneurship is in fact a widely accepted profession amongst MBA pass outs. The freedom to manage one’s own business, earn as much as possible according to one’s own will with no boss present is the desire of almost every individual (http://www.entrepreneur.com/article/207488).
However, problems that MBA graduates may face while starting entrepreneurship are getting the start up cash for investment or acquiring customers. So fresh MBA pass outs can first gain experience in a firm for five to ten years before starting a business of their own. According to me, experience never hurts in fact it is useful as by working in a firm one can acquire the startup cash from his salary savings. Also one can establish proper network connections required to start a business.
It has been rightly quoted by Aristotle that, “Pleasure in the job puts perfection in the work”. Whatever jobs MBA students opt for, relevant to their domain, they must first and foremost choose those jobs only in which they think themselves to be satisfied working for. If a person is satisfied with the career path he or she chooses, then success comes automatically.