Edited by Laura Morrison for GradSchools.com, February 2014
Whether you've always wanted to become a business leader or are simply at a crossroads in your career, you may have considered pursuing a Master of Business Administration, or an MBA. Go down this road and earn an MBA and you could join the ranks of famous business school alumni, such as former President George W. Bush and JP Morgan Chase President and CEO Jamie Dimon.
Bush and Dimon show that MBA graduates may have many career options before them. Of course, not everyone will get to move into the White House after attending graduate school. However, there are still plenty of rewarding occupations out there that you could pursue.
Here's an overview of a few roles graduates of MBA programs could be good fits for, as well as what the not-too-distant future may have in store for them:
Even if you never get to occupy the Oval Office, you might still be able to use the knowledge and skills you acquire in business school to enhance your career and seek out top executive positions. With an MBA, you have earned an education that may help you pursue jobs as CEOs, like Dimon did, as well as chief financial officers, chief operating officer, chief information officers and chief sustainability officers.
While employment growth for these top executives will vary depending on the role and the industry, the U.S. Bureau of Labor Statistics (BLS) projects an 11 percent increase in job opportunities through 20221.
Medical and health services managers
If you're looking to put your business skills to use in a field that's expected to see strong employment growth in the years ahead, look no further than health care. With an MBA, you could explore a job overseeing operations in hospitals, nursing homes or similar settings2.
According to the BLS, employment prospects for medical and health services managers, such as clinical managers and nursing home administrators, are projected to increase by 23 percent through 20223. A big reason for this is the fact that the baby boomer population is aging, which is creating a need for more medical services.
Personal finance advisors
Another occupation that's expected to experience faster-than-average employment growth through 2022 is the role of personal finance advisor. During this time frame, the BLS projects a 27 percent employment increase4.
In this line of work, you could rely on your business knowledge and skills to help individuals with their finances. Some people may need a hand with their taxes, while others won't be sure what type of investments to make. Either way, if you earn an MBA, you could have a shot at entering this line of work.
While the BLS doesn't list job prospects for people who choose to start their own business, it's not uncommon for MBAs to take this route after completing their graduate programs.
Over the course of your MBA studies, you'll have a chance to develop certain qualities that could come in handy as a business owner. According to the U.S. Small Business Administration, entrepreneurs tend to be independent, creative and natural risk takers. Whether you're collaborating on group projects with other students or working on your own, you stand to acquire and hone these qualities in business school.
If you have your sights set on any one of these occupations, now could be a good time to identify your ideal MBA program and take one step toward a brighter future.
1. www.bls.gov/ooh/Management/Top-executives.htm#tab-6 | 2. www.bls.gov/ooh/management/medical-and-health-services-managers.htm | 3. www.bls.gov/ooh/Management/Medical-and-health-services-managers.htm#tab-6 | 4. www.bls.gov/ooh/business-and-financial/personal-financial-advisors.htm#tab-6
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