Articles

Types Of Employers That Are Now Looking For MBA Grads

2010-07-07

Over the last several decades, the trend for recent graduates with MBA degrees has been to take a position in the financial field. Typically, the top MBA schools have sent upwards of 40 percent of their graduates to jobs on Wall Street, including such employers as investment banks, brokerage houses and insurance companies. However, with the recent economic downturn, many graduates are now looking for alternatives to the traditional MBA employers in the financial industry.

Besides finance, careers for individuals with MBA degrees can span the range of business functions: IT management, human resources, marketing, and operations. Think of it this way: What are the major divisions of any company? What are the essential functions that the business must perform in order to sell its products or services? For any of these essential functions, there is a need for skilled managers. Thus, all companies with management needs are potential MBA employers.

Consulting is another career path for people with MBA degrees. Many companies, large and small, require management assistance on a project basis. Management consulting firms are growing in number as the demand for project consultation expands. Many individuals with MBA degrees also compete with the larger consulting firms for project contracts. For people who can thrive on the uncertainty of contract work, consulting can be a lucrative and rewarding alternative to a salaried position with a company.

Often overlooked by many people with MBA degrees is the option of owning and operating your own business. Your business education is not just something that could benefit other MBA employers; it could be the foundation for building your own enterprise. Do you have a good idea for a new product or service? If so, you should put together a business plan, look for financing, and start your own company. Or you could pool your resources and buy into an existing company or franchise. Either way, your business degree will be put to work right away, and you will be the sole beneficiary when it is time to reap the profits.

Finally, the public sector can be another avenue for finding MBA employers. Regulatory agencies often need people with a knowledge and understanding of business and finance to conduct investigations and inspections. Although state and federal budgets have been strained by the recession, the proposed reforms to the financial industry will most likely increase the demand for new government regulators who have MBA degrees.

Even in tough economic times, people with MBA degrees should be able to find work, especially if they think outside the box and consider the alternatives to the traditional career path in the world of finance.