Career Options for MBA's

Okay, I've earned my MBA. What careers are available to me now?

We'll only talk about a few of the options here, but broadly defined, the categories are finance-related jobs, careers managing people, costs, or processes, and jobs where you are running some part of a business. The last one is really a mix of the first categories, but it is useful to think of it on its own because it really ties the whole thing together.

Accounting Careers

Accountants make sure that all of the numbers add up and that the financial statements of a company accurately reflect the state of the company. You have heard of all of the accounting frauds that have occurred in recent years. Most involve some fast growing company, like Worldcom, that started to slip a little. Next thing you know, the accountant is breaking the rules by claiming that sales happened before they really happened, or that costs didn't happen when they really did. Or, as in the case of Worldcom, money that was supposedly spent on one thing was actually spent on something else.

Being an accountant is also the first step towards more advanced positions in the finance department of large companies. Accountants go on to become controllers, then Vice Presidents of finance, then Chief Financial Officers.

Consulting Careers

Many people like to make fun of consultants, claining that they don't actually DO anything, but the consulting business is big business. Careers in consulting are quite frequently very rewarding, as the average first year consultant can easily earn over $60,000, and associates who enter a consulting firm after getting their MBA can earn well over $100,000 the first year. Beyond that, the work can be incredibly interesting and rewarding. You are tasked with solving a company's problems; you get to interview all of the involved parties and make recommendations on how to fix the problems. And you are frequently working on more than one project at a time, so you get to see a wide range of business situations. Your career benefits as well; large companies see consulting as a training ground that is almost as valuable as the MBA itself.

Commercial Banking Careers

Commercial banking is sometimes seen as less glamorous than investment banking or corporate finance, but it is more rewarding in many aspects. Commercial banks are the ones who loan money locally and provide a safe place for you to keep your money and earn a fair interest rate. In a small town, everyone loves the owner of the local bank. Certainly everyone remembers how much George was loved in "It's a Wonderful Life." We should all be that lucky.

Commercial banks are responsible for building communities - they are the ones who are willing to loan money to people who want to build a new local factory, who want to start a new restaurant, or who simply want to buy their first home. The job entails understanding risk as well as understanding all the financial statements and projections that prospective borrowers bring in when they ask for a loan.

Commercial banking is also a very stable business, since so much of it is regulated by the federal government. The last twenty years have seen a lot of consolidation as the larger banks have bought the smaller ones.

Investment Banking

Investment banking is really two different careers molded into one. The first is Mergers and Acquisitions, commonly known as M&A. Mergers and acquistions professionals help companies acquire other companies or help them merge with equals. Most the work that a masters degree holder does involves valuing companies and looking for other companies that might make a good strategic fit. The key to success is valuing the companies correctly, and that is where the MBA training comes in. You must be able to estimate what the other company is worth before you make an offer to buy it. You must also be able to forcast how that combined company will do, where there will be cost savings, where you'll have to spend extra money, and, of course, whether or not the government will allow the acquisition to occur.

Corporate Finance is very similar to M&A, but you are acting as a banker, trying to raise money for companies. You get to help young companies like Google and Yahoo raise money so they can continue to grow. You also could help a mature company like Ford raise more money through selling debt, setting up a public stock offering, or creating a private placement. This career is all about helping the Chief Financial Officer manage his assets as efficiently as possible. Most career corporate finance executives have earned their MBA.

Financial Planning

Ever wish you could help people invest their money better? That is exactly what financial planners do. The good ones have MBA's and something called a CFA or a CFP, which is a certification showing they have taken certain courses and passed certain tests. Financial planners guide families in their asset allocation so that the families are saving for retirement, for college, and for a rainy day. Financial planners usually work for a brokerage house like Smith Barney or independently. When independent, they can choose to put their clients money in the best possible investments.

This is a popular career because it pays well. Most successful financial planners are really good at selling and at client relationships. It is largely a trust business. Still, the things you learn while earning your MBA will help you manage your relationships and understand how asset allocation works.

Money Management

Money management is a very popular line of work because it is incredibly rewarding financially. In 2006, one manager earned over $1.5 BILLION. That is a lot of money for picking stocks. Still, it is a very hard job. Your MBA will teach you the basics of money management, althought, in this career, there is no substitute for experience. You will need to know how to analyze financial statements, build financial models, and interview senior management of large companies. More importantly, you'll need to know when to be skeptical and when to be trusting of what people are telling you. One of the most famous money managers is Warren Buffet, know as the Oracle of Omaha. If you have never read one of his annual report letters from Berkshire Hathaway, you owe it to yourself to read one today.

Insurance

The insurance industry is a stable, slow growth business that rewards those who are willing to work hard and stick with it. Like financial planners, the successful insurance agents are those who are good at managing relationships and good at sales. The MBA holder has an advantage in sales because of the prestige of the MBA moniker. The classes you take on the way to your MBA will also help, especially those about prioritization and management. There is not a lot of financial analysis to do; more insurance companies have pre-packaged information that you work from to get answers.

Real Estate

This is another industry where an MBA is helpful but not required. In most cases, the MBA adds prestige to your position and makes people more likely to work with you. You will use the skills you learned when you put together models of renting versus owning, of potential gains from owning real estate, of tax benefits of owning a home, etc. You will also learn about marketing and presenting homes for sale. You'll know what is important to share and what is better left unsaid.

Online MBA Degree Programs

University of Phoenix

With convenient class locations as well as online learning, University of Phoenix makes quality higher education highly accessible. Whether you’re seeking an associate's, bachelor's, master's or doctoral degree, we can help you reach your goal while you work - and much sooner than you might expect.

We offer a wide variety of degree programs in campus-based and online formats, enabling us to meet the needs and interests of today’s working students, as well as today’s workplace.

Program availability varies by location and format.

Strayer University

At Strayer University, we’re dedicated to providing quality higher education programs for working adults. Our programs in business, accounting, and information technology are designed to provide you with a foundation for career and professional success. We offer our online classes in two formats: synchronously (classes you can attend in real-time) or asynchronously (classes you can attend on your own schedule). We also offer small class sizes, experienced faculty and financial assistance for students who qualify.

American InterContinental University Online

AIU Online's Master degree programs prepare students for a career in the real world. Students gain career-focused knowledge and skills in business, critical thinking and communications. Our Education, Business Administration, Criminal Justice, Visual Communication, and Information Technology degree programs are sure to help you achieve your goals. Unlock your potential with a well-respected degree you can earn wherever and whenever it’s most convenient.

Walden University

Now you can earn your degree online while maintaining your personal and professional responsibilities. Walden University is a highly respected and accredited university, offering career-track Ph.D., master's, and bachelor's degrees. Benefit from Walden University's extensive library services as well as their full service Financial Aid office. Programs in Management, Education, Psychology, and Health and Human Services are taught by a stellar faculty. The online curriculum allows you to study when and where it's most convenient.

Keller Graduate School of Management of DeVry University

The flexibility you need.
You can attend classes full-time or part-time at any of over 75 commuter-friendly locations around the country. And, if you relocate, your Keller coursework transfers among all locations. Plus, all or a portion of your Keller education can be fulfilled online, allowing you to complete your coursework anywhere, at anytime, for even more convenience. You can even switch between classroom and online study, course by course.

Program availability varies by location.
Copyright 2008 DeVry University. All rights reserved.

DeVry University is accredited by The Higher Learning Commission of the North Central Association, www.ncahlc.org. Keller Graduate School of Management is included in this accreditation.

Kaplan University

Advance your career and get the distinct competitive advantage you need with an online degree from Kaplan University. And do it without missing a day of work. Kaplan offers working adults like you online programs in Criminal Justice, Technology and Design, Paralegal Studies, and Business. Don't need a degree? Kaplan University also offers Continuing Education certificates in Forensic Nursing, Legal Nurse Consulting, Life Care Planning, and Financial Planning.

Grantham University

Think you don’t have time to earn your degree? Think again. Grantham Unviersity offers its respected degree programs online, so you can study at the times and places you choose. We offer a student-centered academic model featuring online faculty support and academic accountability. Choose from a wide range of career-focused programs, including Criminal Justice, Business Administration, Information Systems and many more.

University of Liverpool

Grow your career with a masters degree from the University of Liverpool. Founded in 1881, the University of Liverpool has earned an international reputation for high quality and is one of the most highly respected educational institutions in the UK. Earn your Master of Business Administration or Master of Science in IT. Both programmes will enable you to study in small virtual classes with other professionals and get the flexible education you need to push your career forward.

Colorado Technical University Online

Colorado Tech Online offers an Executive MBA and Master's (MSM) degree that can be earned in just 15 months. Master's (MSM) concentrations are available in Business Management, IS Security, IT Management, or Project Management. CTU Online allows you to earn your career-relevant degree on a flexible schedule that fits your busy lifestyle. Instead of having to be on a campus, you just log into your virtual classroom - anywhere, anytime - 100% online. Colorado Technical University is accredited by The Higher Learning Commission and a member of the North Central Association (www.ncahigherlearningcommission.org). Learn more today.

Norwich University

Advance your career with an online Master’s degree from the prestigious and innovative Norwich University. Norwich was the first private military college in the nation, the birthplace of ROTC, the first private college in the nation to teach engineering, and the model for the world-renowned American System of Education. Norwich offers flexible online degree programs in Business, Diplomacy, Military History, Justice Administration and more.

Golden Gate University

Launch a challenging career in the high-demand field of accounting. Receive your bachelor's, master's or certificate.

Network with current and former employees from Big Four firms
Learn from entrepreneurs and faculty with industry expertise
Achieve the fundamental skills to pass the CPA or CMA examinations

ITT Technical Institute

Expand your business knowledge and skills by earning your MBA degree online from ITT Tech. It's where business and technology come together. Bachelor degree and associate degree programs in business are also available. Request more information today!

Ellis University

Ellis University is a branch of New York Institute of Technology, an almost 50 year old academic institution with more than 64,000 alumni around the world. With Ellis University's MBA program you'll get a real degree from a real college online. And, because it's regionally accredited, you can qualify for federal financial aid. Choose from 14 in-demand MBA specializations including Accounting and Information Systems, E-Commerce, Finance, Global Management, Health Care Administration, Marketing and more. Non-U.S. residents are welcome to attend.

American Sentinel University

If you're looking to succeed in your career, look no further than American Sentinel University. We offer degree programs that combine the advantages of traditional education with the flexibility and affordability only an online school can provide. Choose from degree-track programs in Business Administration, Computer Science and Information Systems. Or earn your Master of Science in Nursing and prepare for a rewarding healthcare career. Financial aid is available for students who qualify.

Baker College Online

Baker College Online, named "One of the Best Graduate Schools 2003" by U.S. News and World Report, now offers a high-quality online education at half the cost of comparable online schools. Choose from over 30 online programs including Business Administration, Management, and Human Relations. Go online with Baker College Online and earn your Associate's, Bachelor's, or Master's degree with more flexibility. Learn more.

Jones International University®

Choose from master's degree specializations in business, education, and communications. You'll learn from the brightest minds from leading universities, including The University of Pennsylvania, London Business School, and Carnegie Mellon University. Founded in 1993, Jones International University® is the first regionally accredited online university providing quality education for busy adults. No work experience is required and non-U.S. residents are welcome to attend.

Utica College

Economic crime is on the rise, and costs an estimated 20 billion dollars a year. It affects all industries, including banking, cellular, credit card, securities and insurance. The need for trained experts to combat this growing crime wave has never been greater. Utica College, a world leader in economic crime prevention education, offers regionally accredited online Bachelor's and Master's degree programs in economic crime prevention. All classes are taught by industry-renowned experts in economic crime investigation, anti-fraud and computer crime control. Tuition discounts are available for United States military, federal government employees and United States and Canadian law enforcement personnel.

Links to other MBA Sites
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Online Masters Degrees

Online MBA Programs

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