Last Updated on August 6, 2022 by
Many exciting career options can be opened by a higher education degree. It is no secret. Employers won’t often give second looks to applicants who don’t have the proper education credentials, even if they have years of experience in the field.In recent years, there has been a rise in the number of working people returning to school to expand their career options and learn new skills.No matter the motivation, an MBA is a great way to invest in yourself for the long term. The flexible, high-level degree program equips students with the skills and talents that can be used in many different industries. Even professionals who do not intend to work in business-related fields can benefit from the strong MBA program’s learning objectives.Today we will examine the rising trend of career switching and how an MBA can help professionals jump to new career paths.
How many people change careers every day?
Although one might imagine becoming a professional in an industry they are passionate about and staying there for their entire career; this is not the reality.Although the reasons for career switching can vary widely, they may include:
- Frustration at their current situation and inability to use their skills appropriately
- The industry is not in demand, which causes the industry or business to close (e.g., travel agencies).
- Later in life, achieving new values and goals
- They don’t like their industry’s culture or employer’s overall culture
- Higher-paying jobs require higher education, which can often mean additional continuing education
TopMBA reports that millennials account for the most significant percentage of career changers, and they change their careers an average of four times in their first ten years after graduating. The trend of career switching in the mid-to the late 20s and 30s is twice as common as that for the previous Gen X generation.
The MBA program today: Perfect for career changers
MBA programs have been adapted to meet the needs of working professionals returning to school after graduation to help them further their careers.
Marcia Annisette, a business school and higher education expert stated this to the Toronto Sun. She noted that the less-specialized MBA programs are disappearing.
Annisette stated that MBA schools are increasingly focusing on niche markets and separating their degrees.There are more specialized MBAs available and more joint degrees.
These programs, which are more customized and flexible than traditional MBA programs, equip MBA students with the skills and abilities they need to follow leading career paths in business and beyond.
MBA students can learn critical skills such as leadership, decision-making, and data analysis through this online program. MBA graduates can pursue jobs in business or another field and will have the skills and knowledge to support a successful career.
MBA is a professional degree that can assist graduates in pursuing higher-level career opportunities. The MBA is ideal for people who already work in business or other industries due to its many specializations and comprehensive curriculum. Students will also learn how to use financial information to support and develop business strategies and manage financial assets. This specialization offers a selection of courses that cover topics such as the tax impact on business entities, financial planning, and control systems to merge and contract with consultantsMBA students learn about the challenges of corporate finance.They also explore concepts such as commercial bank management and applied stock analysis in this specialization’s select courses.
- . This concentration focuses on information systems and how to quickly and accurately gather, store, and analyze data. Technology is becoming an increasingly important part of many key business processes inside and outside the enterprise sector. The best practices for data analysis and management are taught to students. They also learn how to use information systems in professional settings. Some courses enhance students’ knowledge in data mining, predictive analytics, managing digital platforms and businesses, social media, and web analytics.
- Marketing: Every industry has to market to build their reputations and generate interest in their products and services. This specialization teaches students skills in permission and data-driven marketing and brand management.
- Supply Chain Management The supply chain of today can have many organizational links and be highly complex.It also involves using current technologies to ensure all parties are working together. Some courses offer students the opportunity to expand their knowledge in global trade logistics, supply chain risk management, and innovative solutions for supply chain challenges.
The General track offers a more comprehensive MBA experience and provides an overview of key concepts from all five specializations. MBA graduates from the general track are highly skilled and experienced individuals with experience in finance, accounting, supply chain management, and information systems.
MBA students are required to complete a comprehensive foundational course program before they can choose a specialty area. This provides them with experience in a variety of critical concepts. Students can expand their data analytics, decision modeling, and entrepreneurship skills. They also learn to lead and manage teams, management accounting, strategic information systems, supply chain management, and marketing management.
This online MBA program curriculum demonstrates that MBA students have many opportunities to acquire the skills and expertise needed for various career paths. An MBA and career coaching from the Smith School Office of Career Services can open up new career opportunities. With the support of a professional MBA degree, students can confidently switch careers and find a new industry or job function with their experience and tenacity.
This is supported by data from the Robert H. Smith School of Business graduate surveys. MBA graduates can work in various roles, including general management and finance and accounting, sales, and marketing, consulting, operations, production, and other functions. Our MBA graduates have found work in various industries, including banking and financial services and information technology. View our graduate survey data to find out.
Advice for career changers: MBA career transition
There are many benefits to pursuing an MBA. This educational pursuit is particularly beneficial for people who want to change careers. MBA students gain extensive knowledge and experience through the MBA program at top business schools. Our Smith School of Business data has shown that MBA graduates can pursue successful careers in various industries and job functions.
According to current data, an MBA can significantly increase graduates’ earning potential. According to Poets&Quants, professionals can expect a salary rise of anywhere from 40% to 65% depending on their industry after completing an MBA.
Contact one of our enrollment advisors today if you are ready to switch careers and learn more about the benefits of an MBA.
