MBA graduates who finished their degrees in 2021 and got job offers typically received six-figure salaries, according to the Graduate Management Admission Councils 2021 corporate recruiters survey. The median starting salary for MBA hires in 2021 was $115,000 – the same as it was shortly before the recent coronavirus-driven economic downturn began. [
The number of employment advertisements within management occupations on the CareerBuilder.com website has increased by 123.5% over the past year, according to the company. Kristin Kelley, CareerBuilders chief marketing officer, says B-school grads should know that the job market is currently aligned in their favor, which means that “they are in a place where they can really take a drivers seat in their career.”
“My approach would be to be very clear what they would consider their initial dream job to be,” says Marie Gould Harper, dean of the American Public University Systems Boston School of Business in West Virginia. Now would be an opportune moment to go for it, according to some experts. [
After MBA: What Next To Study? Making Wise Career Decisions For MBAs ( Masters Of Business Admin )
What is an MBA?
Earning a degree after an MBA, or Master of Business Administration, is one of many paths you can take after completing this credential. An MBA is a highly specialized advanced program, also known as a graduate degree, in business that can allow you to take on further leadership roles, fill different positions in an organization and maximize your value as a business expert. An MBA can also prepare you for further academic study or teaching if you so choose.
An MBA can take as little as one or two years attending full-time, or longer if you attend part-time, and you can complete some MBA programs online as well as in-person on a college campus. An MBA degree can also help you specialize in a particular aspect of advanced business practice such as marketing, product development or business technology.
What to do after an MBA degree
An advanced degree in business such as an MBA can provide a foundation for many other professional and educational opportunities. To support your professional growth and development, here are some ideas of what you can do after you earn an MBA:
Pursue another degree
Although an MBA is recognized as an advanced graduate degree in the business field, you might wish to pursue an even more advanced degree such as a Ph.D. Since the coursework involved in an MBA often focuses on the practical implications of leadership and business decisions, you might find that it is helpful to complete some additional coursework in academic topics such as economics or statistics before applying to Ph.D. programs.
You might also choose to pursue another masters-level degree in another discipline after completing your MBA. You might choose this option if you are interested in specializing in another academic area or if your line of work calls for additional graduate-level coursework. Some common degrees to pair with an MBA include a legal Juris Doctorate, or JD, or a medical doctoral degree such as an MD. These degrees can further prepare MBA recipients for careers such as business legal consultation or healthcare administration.
Earn additional certifications
Education beyond the MBA can also include certifications that are possibly shorter or less extensive than pursuing another advanced degree. Here are some types of additional certifications you might want to explore:
Certified Financial Analyst (CFA) training can advance your career if you are focused on the finance sector. The certification has three levels, can take approximately four years to complete and can prepare you for work in fields such as investment banking and corporate finance.
Risk management professionals can get a certification as a Financial Risk Manager (FRM). This certification, provided by the Global Association of Risk Professionals (GARP), primarily includes an exam that proves your expertise in risk management.
IT professionals who have also finished an MBA might choose to become a Certified Information Systems Auditor (CISA). This certification can qualify you for roles that analyze and monitor the connection between organizations IT and business systems.
The American Production and Inventory Control Society, now a part of the Association for Supply Chain Management, offers a certification in production and inventory management. This certification can prepare you for roles that require specialized supply chain expertise.
Project management professionals can earn a Project Management Professional certification through the Project Management Institute. This certification may qualify you for project manager roles.
Take specialized classes
After earning your MBA, you can also take specialized classes that prepare you with additional skills and knowledge that are useful in themselves, even without providing an additional certification or credential. Some colleges and universities offer credit and non-credit-bearing classes in specialized business skills—consider researching course offerings at the institution where you earned your MBA or another college or university that interests you.
Other options to explore might include online micro-credentials or single classes offered through online learning platforms, some associated with popular professional social networking websites.
If it makes sense for your situation, you might consider pursuing internship opportunities after your MBA as well. Although some people complete their MBA after gaining professional experience in the field of their choosing or while working in business, others have less experience or are studying a different specialty as part of their graduate school training.
Internship opportunities are a great way to learn the specifics of a new role, and many interns receive return offers for full-time employment after their internship ends, depending on performance and the companys circumstances.
Find a job you love
Some professionals choose to move directly into a full-time job after completing their MBA. Others continue in the role they had before beginning their studies or during their MBA program, perhaps at a different level or with different responsibilities.
You might also choose to work in a new or existing role while you decide whether you want to pursue further classes or qualifications. Some employers offer compensation, reimbursement or access to additional specialized training, so it might be beneficial to incorporate a full or part-time job into your post-MBA plans.
Start your own business
Entrepreneurship can be another valid option after you complete your MBA. Some MBA programs even offer an entrepreneurship focus or targeted elective classes to help prepare students to start their own businesses. Consider using the skills you gained in your MBA to bring one of your own ideas to fruition. You might also choose to combine this option with another, such as working as an employee at a company part-time or taking more classes while you get your business started.
What’s the next degree after MBA?
Which course is best after MBA?
- Financial Risk Management [FRM]
- Doctor of Business Administration.
- Certified Information Systems Auditor (CISA)
- Chartered Financial Analyst [CFA]
- PhD in Management.
- ISB’s Certificate Programme in Business Analytics.
- Certification in Risk Management Assurance [CRMA]