There’s no doubt that MBA is one of the most sought after Post Graduate programs. Every graduate, notwithstanding their background — i.e. whether science/ humanities/commerce is vying for an MBA.
An MBA is a great option for growing business and job opportunities. It’s a very flexible domain which allows diverse career options to opt from. This article will shed light on the importance and the kind of jobs you can get with an MBA degree. Following is a brief overview of the same.
Table of Contents
|Factors to check for career path|
|Jobs You Can Get with an MBA Degree|
|3.1. Scope & career prospects in Finance|
|3.2. Scope & career prospects in Marketing|
|3.3. Scope & career prospects in Human Resources|
|3.4. Scope & career prospects in Business Analytics|
|3.5. Scope & career prospects in Ops & Logistics|
|6. Salary comparison|
1. Why MBA?
The demand for and value of the degree is such that it allows a career flexibility along with harnessing attractive packages and positions amongst the top MNC’s and corporate organizations.
- You are exposed to a platter of skills that can get you started on a business of your own or lead you towards the top managerial/executive positions.
- It will familiarize you with the various functional areas of business and equip you with industry-relevant skills pertaining to Information Tech(IT), Human Resource Management (HRM), Marketing & Finance, etc.
- It not only boosts your career, but also ensures an affirmative value addition to your profile as a candidate in the job market/ business scenario.
- There’s no bar in pursuing it in terms of age or background. Even working professionals pursue MBA to further upgrade their skills for a better career opportunity.
2. Factors to Check for Career Path :
Some important factors to consider before undertaking or choosing a career path are: –
- Job Profile: Aim for a position which caters to you. Patience and perseverance are key here. Don’t just look at the pay scale, but try to weigh the pros/cons of the position — will it lead to your professional growth? Will it add value to your career aims and goals? ( both short and long term).
- Organisation: It’s essential to also look at the nature of work in an organisation, including :
- Scope of career development
- Future prospects and plans of the organisation
- Suitability towards your profile and career expectations
For this, you may need to research different areas and available resources about the organisation you plan to work at. This will be particularly information about the structure, brand image and working policies of the specific organisation and so on.
- Location: If you are moving out of your native place – do estimate factors such as cost of living and the comparison of the same with your viable salary along with analysis of benefits offered by the company, other expenses etc.
- Pay scale, benefits: A pay scale which suits/provides a proper value for your profile ( again, research well on these matters in advance before negotiating on salary). See if the company covers any or some necessary benefits including, rent allowances, health insurance, LTAs etc.
- Working Hours: Check if all the parameters, laws and regulations dictated by the government are being followed in terms of the working environment that is catered to you.
3. Jobs You Can Get with an MBA Degree:
If you are wondering what jobs can you get after an MBA degree, then let’s tell you, the opportunities are many. We have come up with some important career prospects that you can choose from. So, let’s take you through.
3.1. Scope and Career Prospects in Finance
An MBA in finance unfolds various productive and lucrative careers. The scope of the course provides a vast range of choices based on financial aspects of a business-like planning and organisational decision making as well as regulation of the financial assets of a firm. The course also allows for specialising in domains such as investment management, finance policies, taxation and insurance etc. It also includes portfolio management and analysis of security and investment policies.
Some of the top career options under finance include:
- Financial Advisor
- Investment Manager
- Financial Analyst
- Corporate Banking
- Corporate Finance
Some of the top companies that offer these positions are JP Morgan, RBS, Barclays, Goldman Sachs, Nomura, etc.
3.2. Scope and Career Prospects in Marketing
MBA in Marketing Management focuses on the key aspects of brand marketing, sales, executive and leadership business development skills, customer behaviour and market research. The people involved in this sector will have a 3600 perspective to managing aspects like planning campaigns, forming budgets and handling staff, along with contributing to managing corporate affairs of the organisation.
Some of the top career options under marketing include:
- Analytical Marketing
- Marketing Manager
- Market Research Analyst
- Communications Director
- Product and Brand Management
Major recruiting firms are Amazon, Oracle,HDFC Bank, IBM, SAP, Google,Kotak Mahindra Bank Microsoft, Vodafone, TATA Consultancy Services, etc.
3.3. Scope and Career Prospects in Human Resources
MBA in HR & HRM aims at improving the performance of the employees in order to achieve the required set of goals and aims according to the policies of the organization. It enables candidates to acquire the correct liable skills along with top industry practices. It guides them to determine ways and methods to manage human resources in an optimum manner so as to reap the maximum benefits.
Some of the top career options under HRM:
- HR Manager/ HR Director
- Staffing Director
- Technical Recruiter
- Employee Relations Manager
Management consulting is also an emergent sector under HRM, which involves organisational problem solving as well as ideating new problem-solving methods. Some of the popular companies that hire MBA graduates as management consultants are PeopleStrong, Deloitte, Cartesian Consulting, Michael Page, PwC, KPMG, Infosys Management Consulting, Cognizant Business Consulting and BCC (Bain).
3.4. Scope and Career Prospects in Business Analytics
MBA in Business Analytics is a field that focuses on analytical , statistical and quantitative tools along with methods of analytics like explanatory and predictive modelling, data visualisation, etc. to collect multiple sources of data. The aim is to analyse the same for understanding factors such as — customer behaviour, market trends, and other matters related to business intelligence.
Some of the top career options include:
- Senior Business Analyst
- IT Director
- Project Manager (IT)
- Management Information Systems
- Chief Information Officer
MBA graduates in Business Analytics can find jobs in various sectors like Healthcare, Information Technology, E-Commerce,Financial Institutions, etc. In India, some of the top recruiters for Business Analytics professionals are Accenture, Boston Consulting Group, Wipro, Capgemini, Amazon, etc.
3.5. Scope and Career Prospects in Operations and Logistics
Operations Management, along with Purchase management, Inventory management etc. revolves around enhancing productivity and optimizing all areas in the manufacturing unit. This requires you to work around everything related to the business operations, product monitoring in terms of quality and cost, manufacturing and customer feedback. An Operational/ Logistics Manager is responsible for delivery, supply and enterprise resource planning (ERP) which cater to the supply chain format of a capitalist organisation.
Some of the top career options:
- Operational Manager
- Inventory Management
- Deputy Manager
- Products Analyst
- Logistics Head
Top recruiters include worldwide famous firms like Deloitte, Amazon, TVS, Blue Dart, Flipkart, EBay, Wipro, Shell, among others.
6. Salary Comparison between Different Positions Post MBA (India)
There’s no set path or formula to success, similarly, there’s no fixed way to achieve your dreams. This article will only act as a source of guidance, advice and a necessary toolkit of useful information to get you started in your MBA journey. However, each prospect comes with its own pros and cons – so instead of wilfully jumping to conclusions, evaluate each and every possibility and carve your own way to success!
“Try not to become a man of success. Rather, become a man of value.” — Albert Einstein.