A Master’s in Business Administration (MBA) could prove very useful. Having an MBA degree could improve your chances of being hired significantly. An MBA would also be helpful for people starting their businesses.
MBA as a degree has a wide scope with a diverse range of skills being taught. These skills can be applied in different fields around the professional market.
MBA graduates are usually preferred over applicants with just a bachelor’s degree in the current business market. As a Master’s is encouraged by many large companies, this puts the MBA graduates in demand.
Many recruiters believe that an MBA graduate would be more useful given their tactical skills and the ability to solve complex problems. This makes an MBA a highly sought-after qualification.
There are several upsides to getting an MBA.
It could help you land high-paying jobs. With an MBA degree, you will not only be enhancing your skills but also your marketability to recruiters. MBA could also help you network, an important part of the professional market.
Nowadays, numerous options are available to you. These options are present in the form of the time of the degree and whether you would be pursuing the degree online or via physical classes.
Many opt for the last option for its convenience. Moreover, many individuals would also like an online MBA program where they could also avoid aptitude tests like GMAT. However, their options are minimized when looking for the best online MBA programs no GMAT required degrees.
Nevertheless, there are still many things to be considered before going for an MBA. As MBA could be opted for in different fields, you must consider which major would suit you and your goals the best.
- Accounting and Finance
An MBA in Accounting and Finance is one of the most sought-after majors. The degree is known for its diversity and knowledge of a complex subject like Finance.
It is a fact that every business needs to manage its finances. It cannot grow without proper accounting. Therefore, people with financial acumen are always required.
An MBA in accounting and finance is responsible for teaching you different tools and skills that you will require daily. This degree will also help you polish your financial analytical skills, which form an important part of any finance job.
An MBA in accounting and finance would help you build a diverse portfolio. With a specialization in finance, you can opt for a career in; financial institutions, banks, investment banking, merchant banking, and corporate finance.
An MBA in this particular field would also be focusing on Accounting, teaching you courses like;
- International Accounting
- Financial reporting and Analysis
- Accounting Regulations
Such courses would make you adept in accounting and put you on the path to a high-paying job like a Financial Manager or even Chief Financial Officer.
- Business Analytics
Business analytics, in particular, provides businesses with tools to employ data analytics and statistical models to solve various business-related problems.
Business analytics have boomed in the previous few years. With the global spending on business analytics reaching $215.7 billion in 2021
It is steadily growing and becoming a standard practice for businesses globally. Specifically, there is a huge market present for business analytics in the USA.
The field has a significant scope to be pursued as a Master’s degree. Many US-based universities like; MIT, UCLA, and UC San Diego offer the degree.
The use of data and technology in integrating a business is a complicated task.
An MBA in such a field will open many doors for you as you can apply in various fields after getting your MBA in business Analytics.
You could be hired as a business analyst or even as a head of business intelligence.
- Digital Marketing
Social media has become the primary source of people’s knowledge consumption. Hence, marketing also needs to be carried out on different social media platforms.
This is where digital marketing comes into play.
An MBA in digital marketing would be highly in demand, especially in a country like America, where social media is experiencing a constant boom. Whether a huge organization or a small store, every business is present on social media.
This makes digital marketing significant for the audience as well. As social media is not only a source where brands could reach people, but people could also interact with businesses.
With this in mind, a properly launched marketing campaign on social media could prove fruitful and highly profitable.
To exploit the benefits of social media properly, extensive knowledge of digital marketing is imperative.
An MBA in digital marketing can help you design social media campaigns that would help a business grow in awareness and customer base.
You will also be able to learn how different branches of digital marketing like; content marketing, social media marketing, and email marketing could be used to benefit a company.
Before considering one of these majors, it’s important to research what business schools would be most suited for you.
It would be best if you also decided on an online program or a physical program. And whether you should even opt for MBA or not.
Pros and Cons
There could be several upsides to opting for an MBA. An MBA could be very helpful in your career.
With a Master’s degree, you can significantly increase the number of job opportunities for yourself.
By studying in an MBA program, you can enhance yourself professionally. It can help you build and polish various skills that could help you greatly in your career.
Similar to the upsides, some downsides must be considered. Like the cost attached to the degree, as most MBA programs don’t come cheap, starting from as high as $55,000.
Hence, an MBA degree could cause considerable financial strain on an individual.
Apart from the financial commitment, an MBA is also a form of time commitment where you would have to commit years to the program. This period could further extend if you pursue an online or a part-time MBA program.
Different MBA majors have varying characteristics and implications in the business world. This makes each major unique from the other.
When considering a major in MBA, it is important to consider your interest and strengths. It would help if you also were mindful of the different implications that an MBA would have on your personal life.
The market demand of the programs must be considered as well as which major would be best suited to fulfill that demand.