Probably many of you ask yourselves whether an investment in an MBA program will ever pay off. Simon asked himself the very same question and even though many of the major researches on the topic confirmed that education pays off, he struggled to find types of existing options that MBA graduates can take other than listings with types of careers. Based on his own experience, he actually concluded that MBA graduates can do a whole lot after they finish their education.
Below you can see some of the things you might choose to do with your MBA degree.
1. Become a teacher
Obtaining an MBA can help you get a faculty position in a variety of subjects. You can work part-time or dedicate yourself to full-time teaching so that you can inspire people who might one day be in your shoes. Since educational institutions such as community colleges, universities, and tenured faculty positions ask for someone with experience, do not miss the opportunity to speak, mentor, deliver panels, etc.
Check out: 5 Nontraditional Careers for MBA Graduates
2. Contact your alumni network
As many other MBA graduates have said, the alumni network is one of the greatest advantages associated with obtaining an MBA degree. Investing time and effort to maintain those relationships can pay off by learning about possible career and business opportunities.
Check some of the schools represented in PrepAdviser and their alumni networks
3. Apply for conferences
Do not hesitate to present your ideas and share your experience at conferences! Just make sure to learn to develop your ideas and then work on your presentation skills. Hurry up and look around for any conferences related to your industry and contact them.
4. Learn new skills
It is true that your MBA degree has given you general business training. However, do not stop developing your set of skills. You might want to check if your business school offers alumni electives - classes that are available exclusively to its own graduates. Keeping your knowledge and practical skills freshly updated will help you stay relevant in today's dynamic workforce. It will also provide you with new inspiration for your projects.
5. Explore career options
After obtaining an MBA degree and updating your resume, you can start considering whether your organisation provides options for development. Career options nowadays are as diverse as ever and you can pursue a career in all kinds of disciplines such as Government, Healthcare, or Data Analytics to name a few. Technology-related fields, in particular, will continue growing and looking for new talent beyond 2021. If you are excited about the future of tech, consider available job openings in artificial intelligence, fintech, or cyber security.
Check out: MBA Career Services Make the Difference
6. Start a business
You can turn you hobby into a sustainable career by applying your business knowledge in practice. A 2020 study from Illuminate Ventures, a seed-stage venture firm, reported that more than 85% of MBA students said they were interested in entrepreneurship as a career path. The company surveyed 500 business school students at more than 20 schools, including Carnegie Mellon's Tepper School of Business, the Yale School of Management, and the University of Chicago Booth School of Business, according to Inc. Magazine.
You could also come up with ways to innovate and start new projects at your current company.
Check out: How to Become an Entrepreneur
7. Take time off
Award yourself with some time for travelling or relaxing after your graduation. After all, graduate school is not easy. This might even help inspire your plans for the future. Although going abroad may not be an option considering the consequences of the coronavirus pandemic, there are plenty of ways to expand your horizons while staying safe.
8. Volunteer or join a board
To keep your skills relevant, you need to constantly practice them. Look around because many non-profit organizations will be happy to welcome a skilled business professional on board. Volunteering is also a great way to give back to the community. For example, if you are an entrepreneur and have experience with managing a startup, many newly minted business owners would appreciate your pro bono consulting and advice.
Check out: How Do You Finance an MBA and Masters?
9. Start a new chapter abroad
If you feel like change of schenery, why not explore business oppourtunities in another country? It will not only be a great adventure, but you can also get to know the culture and learn the language. You can also dive into any of the opportunities listed above. As long as you carefully assess the current situation regarding the Covid-19 pandemic in that country and follow the necessary precautions, this may be a good time to start something new.
Check out: Top 10 Places to Live Abroad
10. Enjoy the flexiblity of freelance work
You can get an additional source of income, practice your skills and at the same time experience multiple organizations and industries by finding a freelance type of job as consultant, mentor, coach, etc. With the rising popularity of work-from-home practices, freelancing could prove to be a flexible and interesting option for professional who have excellent time management and organizational skills.
11. Join a rotary/civic organization
Organisations, such as Rotary International, are always looking for skilled members, who are also passionate about resolving certain world issues. Do not underestimate these career opportunities because they are often more intense as well as more rewarding than a traditional management role. You will also have the chance to meet other business leaders and people who want to contribute to a certain cause.
Getting an MBA degree is certainly an investment not only in terms of money, but also time and effort. If you really want to get the most of your degree, you should try being more proactive, meaning exploring available options, rather than just waiting around for something to come your way.
Get inspired with 17 Successful Startups That Seemed Crazy at First
If you already obtained your MBA degree, take a look at the 10 key dos and don'ts in our infographic:
Source: The Huffington Post