Sorting out your education is one of the most complex decisions you will ever make. Besides choosing a university, managing finances, and deciding where to go, you must also consider the courses you’ll be taking.
Most candidates are torn between what they love and what degree guarantees the most money. The tragedy of our time is that most people choose the latter. Truth be told, many of us would have wanted to take a leap of faith but never got the chance and ended up choosing the safer option.
Business grads know this all too well. There are very few business graduates who genuinely want to pursue their degrees. However, those who do excel in it and go on to pursue their MBA. An MBA is one of the most versatile degrees out there because it gives you access to a fair number of fields in society and the ability to pick and choose where you want to go.
With that in mind, here are some things you can do with an MBA if you’re having difficulty sorting out your options.
1. Consultancy
When all else fails, consider the top consultancy firms. However, there is good news and bad news. The good news is that these firms are always hiring. The bad news? They’re hard to get into due to a rigorous selection process.
McKinsey, Bain, and The Boston Consultancy Group are the top three management consultancy firms in the world right now. If you are more on the finance side of the MBA, consider Deloitte, KPMG, EY, or PwC. Even with a general mba, many lucrative options are waiting for you.
Whether you like the jobs or not, it’s still an excellent chance to get your foot in the door and pass the time till you figure out what you want to do.
Moreover, each of these seven firms mentioned pays well enough for you to live an above-average lifestyle anywhere in the world. The downside? You might have to work some long hours initially.
2. Move over to tech
Adding technology to your background will always help you in the future. It gives you more options to explore your forte, and you stand to grow in the industry and make a fair amount of money in the process. Technology is the future, so it would be wise to jump on the bandwagon while you still have the chance to do so.
Tech startups pay a ridiculous amount of money if they have the skills they are looking for. Most of these startups are high on cash and low on management, so it would be best to give them what they are looking for. The skills you learn through your MBA and basic tech knowledge can be game changers in the market.
If you are in the US, small startups in Silicon Valley are a great place to look for jobs. If you aren’t interested in the Bay Area, tons of Edtech, MedTech, and Fintech companies are out there that you can take advantage of.
3. Teach
Working in education is one of the most demanding yet rewarding careers. But, most people forget that with an MBA, you can still play a role in education. Someone needs to teach the next generation of Business and Economics graduates, right?
You are playing a positive role in society, polishing your skills, and increasing your knowledge base before passing it on to your students. Moreover, lecturers make a respectable amount of cash during their tenure.
There is no shortage of business schools in the country; therefore, finding one that meets your financial requirements shouldn’t be too hard.
Professors make a good amount of money, but getting to that level usually takes a while. However, ensure you meet the standard requirements for each university to become a lecturer. Moreover, the longer you serve, the more rewards you can generate.
4. Healthcare
Every branch of society will need an MBA graduate to manage its facility. Regardless of the facility, a certain level of management is required that only an MBA professional brings to the table.
Healthcare is one of the most lucrative industries and rewarding to just about anyone who chooses it.
Clinical research is perhaps one of the most successful parts of the industry, and companies like Labcorp and Thermo-Fisher are places you want to consider applying to. Not only do they pay well, but they have branches worldwide where you could consider moving to.
Other than that, the life sciences industry is doing a lot for society as we know it. If it wasn’t for Big Pharma, we might not have received the COVID-19 vaccine as soon as we did, and the world would still be living in panic.
5. Start your own business
Nobody knows how to run a business better than an MBA graduate. Hundreds of thousands worldwide seek to hire these graduates to manage their businesses. However, have you considered starting your own?
Owning your own business is an American dream most citizens look towards. Not only will this bring home more money than working for someone, but you have the benefit of making the rules, being your own boss, and coming and going as you please.
Other than that, you stand to change many lives along the way. Employing staff means that these people now have a source of income to put food on the table in the evening. We rarely exist and function in a bubble; our actions impact those around us.
Conclusion
From consultancy to owning your own business, we talked about how an MBA can benefit your future and what you can do with it.
Choosing an MBA should come from the heart, not because it’s the safest option. True, it might give you good career options, but it would be best to pursue what you love instead.
We suggest you keep an open mind about a business degree and consider whether it truly is for you. Moreover, sometimes it’s okay to pursue a career just because it makes you money. Life is about living the way you want to, not about falling into pre-ordained categories.
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