10 MBA Career Options
An MBA degree is a very popular and useful degree to earn through higher education, and here are 10 MBA career options. MBA stands for Masters of Business Administration. An MBA is a post graduate degree in business communication. If you hope to maximize your earning potential, it's worth looking into earning your MBA.
- Real estate An MBA is helpful but not required in real estate. Having an MBA will give a much better first impression and make people more likely to want to work with you. Having an MBA will help with your people skills and you will also learn how to best market homes for sale.
- Insurance Insurance is a stable growth industry that is best for people who like stability and can stick with something for the long haul. Having an MBA helps in this industry because having good people skills and knowing how to sell what you're working with is extremely helpful in this field.
- Money management Money management is incredibly rewarding financially, but it is a very hard job. A money manager builds financial models and analyzes financial statements. Knowing when to be trusting and when to be skeptical is also very important in this field.
- Financial planning Financial planners help people make better choices regarding how to invest their money. Good financial planners have an MBA as well as a form of certification that shows that they have taken additional courses. A financial planner can either work with a firm or they work independently.
- Investment banking: Mergers and Acquisitions Mergers and acquisitions is also known as M&A. Merger and acquisition specialists help companies acquire other companies, or merge with equal companies. M&A specialists must be able to accurately value other companies and know if the other company would make a good, strategic fit. It's important to be able to value a company correctly, before an offer is made to buy it. MBA training is important in this field.
- Investment banking: Corporate Finance Corporate finance is similar to mergers and acquisitions. It's different in the fact that corporate finance specialists act as bankers, trying to raise money for a company. People in this field can help a young company make enough money so that they can continue to grow, or they can help a mature company continue to make money. They usually do this by selling a company's debt or holding a public stock offering. Corporate finance executives work closely with the company's Chief Financial Officer, and they have usually earned their MBA.
- Commercial banking Commercial banking may not be as glamorous as investment banking, but it can be more rewarding. Commercial bankers are the ones who are in charge of local loans. They provide people with a safe place to keep their money. Commercial banks help local economy and help build communities. Commercial banking is also a fairly stable career, since a lot of that field is regulated by the federal government.
- Accounting Accountants work primarily with money and with numbers. They make sure that the numbers for a company add up and accurately reflect the state of the company that they're working for. Accounting also leaves room for promotions and moving up in a company. People with MBA's who go on to work in accounting can move up to become Vice Presidents of Finance or Chief Financial Officers.
- Consulting Oftentimes, people who don't work in consulting don't understand it and say that consultants don't "do" anything. That is very much a misconception. A career in consulting can be interesting and rewarding, as well as incredibly lucrative. The average first year salary for a consultant who holds an MBA can be anywhere from $60,000 to $100,000. Consultants work for a company by fixing a company's problems. They interview all of the involved parties and make recommendations based on how they believe the problem can best be solved.
- Portfolio Manager A portfolio manager is in charge of private clients' financial portfolios. A client chooses a portfolio manager and that person is in charge of how to invest their client's money in different stocks. A great deal of trust is involved, as a portfolio manager is in control of what is sometimes a client's entire savings.