There is not any single career trajectory when you earn your MBA degree. In fact, one of the big advantages of an MBA is you can be employed in many fields depending upon your specialization. Some business school grads work in healthcare, while others opt for financial services or technology.
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Students who are soon expecting to earn their MBA may want to consider the following entry level jobs. According to current jobs data from the Bureau of Labor Statistics, (BLS), these five awesome MBA jobs generally offer strong future job group, good salaries and low rates of unemployment.
It is unlikely you can go wrong when you choose one of these fields:
1. Accountant
Accountants are responsible for keeping and inspecting company and personal financial records. Business graduates with an accounting background need to have a strong numbers and technical background to do their job well, and it also helps to earn a CPA or Certified Public Accountant designation. This credential can be earned by earning an MBA and passing the tough CPA examination.
Entry level accountants need to also have strong communication skills and a grasp of complex financial compliance issues. Entering accounting at a lower level after graduation can be a very smart move; some accountants are able to use their entry level or mid level job to eventually move into upper and executive management. For many, an accounting position can someday lead to the CFO position in a large company.
BLS reports jobs in accounting will grow by 10% through 2026, which is faster than average. It is anticipated that globalization, a booming economy and a more complex tax and regulatory environment will lead to more need for accountants and auditors.
The median pay for accountants as of 2018 was $70,500 per year, with the top 10% with the most education and experience earning $120,900 per year.
Some of the job titles that you could qualify for in accounting include:
- Accountant
- Tax manager
- Tax analyst
- Treasury analyst
- Accounting manager
- Revenue manager
- Forensic accountant
- Treasury Analyst
- Treasury Manager
Likewise here are the types of related degrees can you pursue. Often times a MBA degree in any of these areas is preferred for upper levels of management.
2. Medical and Health Services Manager
This is not always considered a top job for many MBA graduates, but the fast growth of medical and health services in the US makes it a great start to a productive career. These professionals may also be called health care executives or health care administrators. They are critical to ensure that healthcare organizations are operating at the best possible efficiency, and are sticking to constantly changing health regulations and laws.
These workers must communicate well with physicians, nurses, healthcare representatives and other medical professionals to ensure the organization is run as efficiently as possible.
Job openings in the medical and health services management field are expected to soar by 20% by 2026. This is much faster than average. As the baby boom population gets older and people are staying more active for longer, there will be more need for all kinds of healthcare services.
The median pay in this field was $96,500 as of May 2016, according to BLS. Those who come into the field at the entry level earn a median salary of $56,000 per year, but with an MBA in healthcare administration, medical management MBA degrees, or hospital management degrees you can expect to earn a salary as high as $172,000 per year eventually.
Some of the job titles that you could qualify for in the health and medical administration field include:
- Healthcare Manager
- Nursing administrator
- Director of pharmacy
- Hospital manager
- Hospital administrator
3. Financial Manager
These critical business professionals are responsible for the oversight of a company’s finances, producing financial reports and profit projections. Some of the most common types of financial managers are:
- Controller
- Treasurer
- Credit manager
- Cash manager
- Risk manager
Most financial managers have a strong background in finance, economics and accounting. To get your foot in the door with this awesome entry level MBA job, it is important to have a high GPA and good internship experience. This is because finance is one of the most popular MBA specialties, and you can expect a lot of competition for the best entry level jobs.
The good news is the demand for financial managers will soar by 2026, with 19% job growth anticipated.
As you look for work, however, keep in mind that job growth is largely dependent upon the field. Services offered by financial managers in the areas of directing, planning and coordinating investments will continue to be in demand as the economy experiences strong growth. There also should be strong demand in cash and risk management.
Median pay according to BLS was $121,700 in 2016, with entry level people earning a median salary of $65,000. But you can expect later in your career to earn a salary with an MBA as high as $200,000. The best paying jobs tend to be in professional, scientific and technical services.
Some of the other job titles that you could qualify for in finance include:
- Finance Manager
- Finance Officer
- Financial Analyst
- Investment Analyst
- Management Analyst
- Investment Banker
- Investment Consultant
- Investment Manager
- Pricing Analyst
- Compensation Analyst
- Budget Analyst
- Investment consultant
- Investment analyst
- Sales manager
- Purchasing manager
- Financial analyst
- Risk analyst
- Research analyst
- Pricing analyst
- Pricing manager
- Insurance agent
- Financial advisor
- Financial officer
4. Business Operations Manager
To be good at business operations management, you need to have an MBA with strong communication, organization and negotiations skills. These skills are very important to help business departments meet their long term goals.
Business operations managers are responsible for the oversight of operations that are too complex and diverse to be under a single area of administration. Some of the responsibilities in this job are to form company policies, manage the daily affairs of the business, and effectively pan the use of human resources and materials. Business operations managers also may make up staff schedules, assign work to various staff and ensure that business projects are completed on time.
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To get one’s foot in the door in this field, you need to have at least your bachelor’s in business, and advancement usually requires an MBA. To bolster your resume in this competitive field, it is a good idea to earn a certification through the Association for Operations Management that provides you with advanced skills in production, inventory management and certifies you as a supply chain professional.
BLS anticipates these jobs will grow by 7% by 2024, with a total of 151,000 new jobs added. US News and World Report states that business operations managers earn a median salary of $99,000 per year, with the most experienced a salary eventually of more than $200,000 per year.
Some of the other job titles that you could qualify for in business operations include:
- Logistics Analyst
- Logistics Coordinator
- Logistics Manager
- Logistics Supervisor
- Business Operations Manager
- Director of Operations
- Operations Analyst
- Operations Management
- Operations Manager
- Operations Officer
- Purchasing Manager
- Operations analyst
- Logistics Manager
- Logistics Analyst
- Logistics Supervisor
- Business systems analyst
- Business Development Manager
- Director of Purchasing
- Business Systems Analyst
- Logistics coordinator
- Procurement specialist
5. Compliance Officer
A more complex regulatory environment is boosting the need for compliance officers in many industries. These business professionals can find solid employment in telecommunications, finance and healthcare among others. Those who are in the financial services field as compliance officers need expertise in the Dodd-Frank Wall Street and Consumer Protection Act, as well as international banking laws.
Fact: After the financial crisis of 2008, JP Morgan Chase hired over 4,000 extra staff to their compliance department.
Compliance officers must ensure that companies and governing organizations are staying compliant with ever changing internal policies and regulatory standards.
Duties of these workers depend upon the industry, but can include identifying risks to the organization; implementing standards to mitigate risks, and reporting how effective the controls are.
Most compliance officers have bachelor’s and advanced degrees in business, accounting or finance.
US News and World Report currently ranks this as #11 for best business jobs. The median salary is $66,540 per year, with a very low .8% unemployment rate.
Some of the other job titles that you could qualify for in the area of compliance include:
- Compliance Officer
- Program Officer
- Compliance manager
- Compliance analyst
- Program Analyst
Each of the above entry level jobs in business and related fields have good starting salaries and awesome potential as the US economy revs into high gear.
References
- https://www.usnews.com/education/best-graduate-schools/top-business-schools/articles/hot-jobs-for-mba-graduates
- https://www.bls.gov/ooh/business-and-financial/accountants-and-auditors.htm#tab-6
- https://www.bls.gov/ooh/management/medical-and-health-services-managers.htm
- https://www.bls.gov/ooh/management/financial-managers.htm#tab-5
- https://www.bls.gov/ooh/management/top-executives.htm#tab-2
- https://money.usnews.com/careers/best-jobs/business-operations-manager
