Obtaining a desirable job with a Master's in Business Administration (MBA) but no work experience can be a challenging task. Many of the top-tier business schools throughout the country will not even consider your application for admission without at least two years of related work experience. These schools have reputations to maintain, and part of that is dependent upon successfully placing their graduates in good jobs. Graduates with both an MBA degree and work experience have a greater chance of getting hired before or immediately following graduation. If you have taken the alternative path of going to business school without first gaining relevant work experience, there are still options available to you, although they are much more limited.
- Skill level:
Use your school's career or placement centre. Most schools that offer MBA degrees have some type of placement program. Networking is an essential part of surviving in the business world, and many schools go to great lengths to place their graduates because it enhances their business program's prestige and funding. Placement centres affiliated with colleges and universities may be more well connected than an independent agency devoted to helping people find jobs. You may need to consider working in a field closely related to your area of concentration, but there are numerous positions for business graduates really looking to land a position.
Consider working as part of a company's sales force. Many people go to business school to avoid having to work in a sales division, but there are many high-paying and high-profile sales positions that can lead to great career satisfaction. Because MBA graduates typically have more business acumen than the average person, it may be possible for them to command a decent base salary, whereas someone without the degree may find himself working on a strictly commission basis. Prominent sales positions can include pharmaceutical sales and other similar positions, which can result in a compensation package in excess of six figures.
Be your own boss. As an MBA graduate you can put your business sense to good use and work for yourself. If you lack start-up capital and like the idea of working for yourself, there are options available. One option is a career in financial services. There are many financial firms out there that offer starting salaries to supplement your income while you build your business. As someone with a Master's in Business Administration, you may be able to command a higher starting salary. Financial assistance varies by firm and location, so do your research and find out what type of firm might work best for you. Possible careers in this industry or related careers include financial advisers, stockbrokers, insurance agents and insurance agency managers.
Teach others. A master's degree in any field, including business, can be a prelude to a teaching career. You may not be able to teach at a prominent university, but with an MBA you can teach at a community college or a small private college. If you enjoy teaching you can always go on to pursue a Ph.D. in the business field and move up to teach at the university level later on.
Tips and warnings
- Although teaching is not the highest paying profession, it is certainly one of the more stable. Business professors often command higher salaries than those teaching in other fields because of the difficulty schools can have in pulling them away from the private sector. This can make the field competitive and the pay structure highly attractive.
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