It is very important for an individual to do proper career planning for continued success. While a professional degree may appear to add value to an individual’s profile, it may not give desired results. Nowadays, most students and even working professionals prefer to pursue Masters of Business Administration (MBA) in order to improve their managerial skills and move up in the organizational hierarchy.
It is important for an individual to decide the area (s) of specialization at the initial stages of pursuing MBA. This decision is generally influenced by factors like area of interest (finance, marketing, human resource and so on), market demand, desired job profile and so on.
Because of wide variety of subjects covered under the curriculum of MBA, an individual can gain knowledge on different topics. Such knowledge can help him/her in management of day to day work related activities and undertake leadership roles in the organization.
Five Important Careers for MBA Graduates
Pursuing MBA from a reputed college/university can open the doors for excellent job profiles. One such profile is management consulting. One of the most important aspects of MBA is focus on practical work related experience. Students are trained on practical case studies and are encouraged to develop problem solving abilities.
Such skills can be used by the students to offer expert consulting services in their areas of expertise/specialization. Consulting services can range from simple process consulting to complex business consulting.
Financial Planning and Financial/Equity Analysis
Most of the students prefer to pursue MBA with finance as the area of specialization with focus on security analysis, portfolio management, financial institutions and so on. Financial planning/Equity analysis can be considered as one of the most interesting job profiles for individuals pursuing MBA in finance.
Financial planning generally involves wealth management of individuals or groups. Financial/Equity analysis involves study of financial statements and using various assumptions in order to recommend investment in particular companies. Such analysis involves development of financial models, in-depth study of the industry and economic conditions and so on.
MBA is also pursued by many individuals as a means to gain understanding on different aspects of business management. These individuals have the ultimate objective of starting their own businesses. Nowadays, many MBA graduates decline job offers from reputed companies and prefer to start their own companies as soon as MBA is completed.
Even though MBA is not a mandatory requirement for starting a business, it can definitely give a competitive edge to the individual planning to start his/her own business. However, it is generally advisable to gain significant industry exposure before investing money in self owned business.
Individuals with excellent negotiation and relationship management skills may prefer to pursue MBA with marketing as the area of specialization. Marketing jobs provide an opportunity to interact with the clients on a day to day basis.
Marketing is a challenging role and requires high level of confidence and presentation skills on the part of the marketing executive. Such skills are generally gained at the time of pursuing MBA.
Another area of MBA specialization that has gained significant importance in recent times is human resource management. This profile generally involves working on development of employee related polices, providing assistance in employee recruitment and selection process, managing employee related issues and so on.