MBA programs are advertised as gateways to high paying jobs, and the extent of your success depends on personal skills and work ethic. However, there is one thing that is certain. MBA programs are expensive! Before you take your seat at the boardroom table, you have to get the valuable experience while paying back your loans. This emphasizes the importance of getting a job with a salary high enough for you to quickly pay off those education loans in order to gain financially while moving up the corporate ladder. The problem, however, is that those high salary positions naturally serve up a wider range of candidate competition. This makes it more than worthwhile to explore a few potential routes to see if any are useful to you.
FinTech Puts Your MBA to Good Use
Marketplace loan origination doubled since 2010, and according to reports it has increased to $12 billion in the U.S. alone. The growth of this industry is estimated to be in excess of a half trillion dollars by 2020. FinTech allows small businesses and startups get the funding they need and technology let’s marketplace lenders facilitate those funds. FinTech also has international growth opportunities available. There are around 125 million small businesses throughout the world, according to the International Finance Corporation (IFC). FinTech is a by entrepreneurs, for entrepreneurs, making loans and funding easily accessible to small businesses at home or abroad. This is a powerful industry always looking for MBA candidates.
Renewable Energy Credits, Green Credits, and Tradable Renewable Certificates all support “green” innovation. The ever increasing environmental concerns around the world have facilitated the corporate need for these programs. Corporations are under pressure to be as environmentally sustainable as possible and they can accomplish this with help from MBA holding managers. Since environmental management is emerging and ever changing, potential candidates who understand the language have become a necessity. As an emerging field, the growth potential is still unmeasurable. However, the median salary for an environmental manager is estimated over $100,000 as of 2016.
Online Marketing for MBA Professionals
If you Google online marketing jobs, you will find a wide variety of work you can pursue with vigor. The freelance community is represented on nearly every continent with 53 million freelancers in the U.S. alone. This makes up 34 percent of the workforce, according to reports. If you are searching for a way to use your MBA as a way to tower over the freelance competition, online marketing is surely a path to examine. The median annual salary for an internet marketing specialist is more than $40,000, but experience plays a key role in profits. Many online marketing freelancers will network and find a wealth of opportunities ahead of them, making this a career with potential.
Digital Healthcare Budding Career for MBA Grads
While the core of healthcare professionals remains doctors and nurses, entrepreneurs are coming up with innovative healthcare services and products. By using technology, your MBA can provide valuable resources to any med-tech startup. From medical second opinions to simple online healthcare questions, many hospitals are also making their services available online. Innovative platforms such as online counselling and mobile app based testing, customized health insurance, and medical data collection are all areas of interest. In fact, 72 percent of internet users in the U.S. say they have searched for health information online. This is also an industry that will continue to grow.
Analytics is MBA Essential
Information technology is generating impressive amounts of content online. And developing a way to compile data for corporate research and strategies is a useful skill for any candidate with an MBA. This makes analytics a field where you can further utilize your management skills if you excelled in mathematics and statistics lessons during your Master’s program. You may have even had an in-depth analytics session or two during your MBA program, since it has become as essential tool in nearly every industry.
Shipping and Logistics
Technological innovations have also affected the business of logistics. Newer models and strategies are rapidly revolutionising the way shipping and logistics are handled. These fields need people who understand operations management and mathematics but yet are also marketing as well as technology savvy. Who comes with such diverse set of skills? Yes, an MBA. The median salary for those in logistics is estimated at $65,000 annually. However, if you have a Master’s degree, you can expect more than a 60 percent increase in salary.
Article written by: Vera Marie Reed, a freelance writer living in Glendale, California. This mother of two specializes in education and parenting content. When she’s not delivering expert advice, you can find her reading, writing, arts, going to museums and doing craft projects with her children.