Why Earn an MBA With a Management Concentration?
Employees with solid educational backgrounds can increase their employability in today’s highly competitive workforce. Good job prospects, incremental salary increases and great networking opportunities are all on the horizon for graduates of an online MBA in Management. Out of all the postgraduate degree courses available, a Master of Business Administration (MBA) with a Management concentration has a respectable niche when the issues of employability and career growth sustainability arise.
Five Reasons to Get an MBA with a Management Concentration
Below are five reasons that make pursuing a Master of Business Administration (MBA) with a Management concentration a good idea.
1. Increment in Salary
Students or employees who possess an online MBA in management can anticipate earning a salary that is slightly above average. Though the average median salary for graduates who possess degree in Arts is around $36,237, graduates who possess degree in Business earn $49,035 on the average. Potential employees with an MBA degree with a Management concentration can anticipate earning $95,000 when they start working. This means graduates with an MBA degree with a Management concentration earn twice the amount that graduates who possess an undergraduate degree in business earn.
2. Top Notch Job Prospects
Graduates of MBA programs with a Management concentration are normally able to secure employment fairly easily.
According to research conducted by the Graduate Management Admission Council (GMAC) in 2013, graduates from MBA programs enjoyed an unequalled 95 percent rate of employment. A worldwide survey of 179 employers conducted by the Graduate Management Admission Council (GMAC) in 2015 reveals that 85 percent of employers are not planning to stop employing MBA graduates.
When contemplating whether to pursue an online MBA with a Management concentration, one must consider the good job prospects and the above-average salary. Although investment in an MBA with a Management concentration may look like an expensive venture, the advantages outweigh the costs.
In a 2012 Graduate Management Admission Council (GMAC) Alumni Perspectives Survey (which sampled the opinions of 4,135 MBA alumni), MBA graduates disclosed that in less than a year after graduating, they had recovered a third of the amount they invested in the acquisition of their degree. They also stated that they recovered 100 percent of their investment in less than four years. Even more interestingly, many MBA degree holders stated that they were able to double the return on their Master’s Degree investment in under 10 years.
3. Continual Networking Opportunities
Online MBA with a Management concentration graduates also experience unparalleled and long-lasting networking opportunities. Generally, MBAs attract the interest of leadership-oriented people who will later work for profitable companies. The educational environment is also littered with numerous world-class professors and many professionals who interact with students regularly. These professors and professionals can be good assets when graduates are looking for jobs.
4. An All Encompassing Skill Set
An MBA with a Management concentration attracts many students from various educational disciplines. This unique concentration of people with different abilities produces a productive knowledge acquisition environment that offers students first-rate analytical, networking, managerial, research and leadership skills to equip them for job opportunities.
5. An Investment In Your Future
An online MBA with a Management concentration appeals to people who find it extremely difficult to strike a balance between job and family responsibilities while enrolling for a degree. It offers the same advantages that regular MBA degrees offer. Many degree holders have resolved to pursue postgraduate degrees in a bid to increase their earning capabilities and take their career to the next level. An online MBA with a Management concentration is a very good choice if you want to increase your chances of growing a successful and highly remunerative career in a highly-competitive labor market.
Common Questions about the MBA in Management
Curious to learn more about the MBA in Management? Here are answers to some of the frequently asked questions for those considering this path.
How is an MBA in Management Different from a General MBA?
The key difference between a general degree and an MBA with a management concentration is that the latter allows you to hone your skills specific to leadership and business management. A general MBA is very broad — students aiming for higher-level positions in business can benefit from a degree that tailors lessons and skill development to this course. A management concentration still offers a solid foundation of core MBA classes and works to instill and reinforce the practice of ethical decision-making, strategic planning and company management.
Will an MBA in Management Increase My Marketability?
The online MBA in Management offers fine-tuned preparation. If your goal is to manage the needs of a business and oversee teams and operations, then an MBA in management will help you stand out. Specializations reinforce both your commitment to and expertise in this facet of the larger business community. This level of preparation may improve desirability with potential employers as well, giving you an edge over candidates with less of a focus in management.
Can an MBA in Management Help Me Earn a Larger Salary?
Advanced positions offer the opportunity for higher pay. Although the market of business already offers promising salaries with an average of $80,000 annually for MBA graduates, many employers are ready to compensate more for competitive credentials and seasoned skillsets. U.S. News reports that the average annual salary for mid-career professionals in operations management is $121,000 and around $146,000 in general and strategic management.
Can an MBA in Management Benefit Me After Graduation?
The benefits of an online MBA in Management can continue long after graduation. Students enrich their professional growth with a degree that is focused and have the opportunity to expand on professional contacts during the program. As you further your education, the connections you make will have an immediate impact and can also be used as future resources to help you develop your career. After graduating, students continue to be a part of a network of a community of learners.
A Focused Career Path
MBA students want to advance professionally, take on increased responsibilities and accelerate their earning potential. Spring Arbor University is committed to creating ethical, invaluable leaders in the business world and supports these aims by offering an online MBA in Management that cultivates business acumen while also upholding Christian principles.
Non-Traditional Jobs with an MBA in Management
The vast majority of those who earn their MBA in management find employment in the corporate sector. Some work for banks, others work in marketing and most are employed by corporations, investment and financial-oriented companies and other profit-driven organizations.
A small percentage of each year's graduating class take a path less traveled. Some MBA grads find such non-traditional career paths to be quite rewarding. Oftentimes, these positions are with non-governmental organizations (NGO) that have significantly less internal competition than traditional corporations. A common result of such an environment is increased personal satisfaction as well as the opportunity for rapid acceleration through the organization's ranks.
Let's take a look at a few examples of these non-traditional MBA jobs for Spring Arbor University grads who specialize in management.
Information Security Analyst
Businesses across the world are ramping up their information security efforts. Information security analysts help companies, nonprofit organizations and government agencies protect their data. These professionals develop and apply policies that keep information secure and thwart attempts to compromise sensitive information.
The skills MBA grads obtain while concentrating in management help them ensure the information security strategies they develop as professionals are compliant with already existing policies. These professionals are also commonly tasked with managing wide-ranging projects to ensure all data initiatives align with company policies.
In terms of compensation, the Bureau of Labor Statistics reports that information security analysts earned a median annual salary of $92,660 in 2016. More than 80,000 information security analyst jobs exist in the United States. The Bureau of Labor Statistics reports that nearly 15,000 more information security analyst positions will be added between 2014 and 2024, which represents an 18 percent growth rate.
Data Analyst
Data analysts, sometimes referred to as operations research analysts, gather, segment and interpret important information. This data is usually quantitative in nature. Though the specifics of the position hinge on the particular industry and employer, this line of work requires an analytically minded individual.
All sorts of companies across an array of industries require such analysts. These professionals assign quantifiable values to myriad business functions and make use of statistical data to improve organizational operations.
Spring Arbor University's MBA management program develops and refines students' analytical abilities. Students are provided with the opportunity to work as a consultant with a host organization where they can analyze problems, develop solutions through extensive analysis and boost organizational efficiency. The Bureau of Labor Statistics reports that this line of work yielded a 2016 median annual salary of just under $80,000 per year.
Over 90,000 operations research analyst positions exist in the United States. The Bureau of Labor Statistics estimates an increase of 27,600 jobs in this field between 2014 and 2024.
Management Analyst
Management analysts improve organizational efficiency and their employer's bottom line by managing others who are in management positions. Management analysts highlight organizational inefficiencies by zeroing in on the best ways to boost profits.
These individuals gather data and provide in-depth analysis to gain a thorough understanding of the organization's operations. They shape recommendations for improving operations and bolstering the profit margin. This information is presented in written reports or in the form of a presentation delivered to managers and executives.
This is an excellent example of the business administration coursework completed by Spring Arbor University MBA management students. The program's graduates have extensive experience performing such analyses and crafting detailed solutions to enhance organizational efficiency. The Bureau of Labor Statistics reports that management analysts earned a median salary of $81,330 in 2016.
Over 750,000 such jobs exist in the United States. The Bureau of Labor Statistics reports that the number of management analyst jobs will increase by 103,400 between 2014 and 2024. This represents a growth rate of 14 percent, which is much faster than the growth rate of the typical profession.
Entrepreneurship
Some daring program grads take the road less traveled in the form of entrepreneurship. The Bureau of Labor Statistics reports that 15 million individuals were self-employed in 2014.
Spring Arbor University MBA management students are uniquely equipped to start their own business. They develop an intricate understanding of proven management practices that are applicable to businesses of all sizes and industries, including startup companies.
The MBA management program provides an overarching business education that arms graduates with the knowledge, skills and acumen necessary to successfully manage all aspects of a business from the ground on up. The program's students obtain an understanding of financial management, social responsibility, approaches to improve company-wide efficiency and so much more.
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Sources
David Joseph Hoppock, “What is the Average Salary for an MBA Graduate?” Investopedia. 17 February 2019. Accessed 28 April 2019 from: https://www.investopedia.com/articles/personal-finance/031215/what-average-salary-mba-graduate.asp
“Is it Better to Get a Specialized MBA or a General MBA?” The Princeton Review. Accessed 28 April 2019 from: https://www.princetonreview.com/business-school-advice/specialized-mba-or-general-mba
“Master of Business Administration (MBA) Degree.” Payscale.com. Accessed 28 April 2019 from: https://www.payscale.com/research/US/Degree=Master_of_Business_Administration_(MBA)/Salary/Page-6
Kelsey Sheehy, “5 Tips for Choosing an M.B.A. Concentration.” U.S. News and World Report., 21 January 2012. Accessed 28 April 2019 from: https://www.usnews.com/education/best-graduate-schools/top-business-schools/articles/2012/01/31/5-tips-for-choosing-an-mba-concentration
Farran Powell, “Enhance Earnings with an MBA Specialization” US News. 19 December 2016. Accessed May 6 from: https://www.usnews.com/education/best-graduate-schools/articles/2016-12-19/enhance-earnings-with-an-mba-specialization
