From recent college graduates to long-time working professionals, it seems everyone wants an MBA degree. In fact, more MBA degrees are conferred each year than any other degree. So, why are business degrees so attractive to so many students?
It seems if you want to become rich these days, you go into business. Since Bill Gates took over the software industry, we've heard about entrepreneurs turned overnight millionaires. Much of this wealth accumulation took place during the dot.com boom of the mid to late 1990s. While some lost their shirts on shaky investments, a significant number of people in Silicon Valley scored big payouts from Wall Street.
Opportunities for MBA Graduates
Another reason MBA degrees are so popular is their flexibility in the marketplace. There are so many to put a graduate business school degree to good use. For starters, you can work in any area of industry, including retail, technology, oil and gas, agriculture, food and beverage, and many others. You have a number of job opportunities within the vast realm of business, too. You can work in marketing, research and development, communications, finance, strategy, and management.
With an MBA degree, you can even work in the government and nonprofit sectors. You can run a foundation, like Bill and Melinda Gates do (Melinda Gates, by the way, also holds an MBA degree). You can also manage a government agency. Many in government view MBA graduates favorably to the extent that they can improve efficiencies in government programs.
Business School Programs
Because of the vast variety of jobs in business, MBA programs are becoming more specialized. Many programs provide students a solid foundation in one major area of business, such as accounting, finance, and marketing. However, more programs are offering concentrations in specific areas, like marketing, international business, management consulting, and entrepreneurship.
So, what does this mean for you? Make sure you choose the business school that is right for you. Start thinking about what area of business you'd like to enter. If you're interested in becoming a marketing executive in the cosmetics industry, consider going to school where the largest cosmetics companies are located. Take courses in marketing and seek out an internship with a cosmetics brand company between your first and second years of business school.
Long story short, plan carefully for your MBA career and make sure you get the skills that will help you get the career you want.
Not sure what types of careers would be a good fit for you? Try this career assessment test to help determine what professional fields match your personality and skills.