Getting your MBA can mean more career options, since the skills you acquire will be marketable in just about any industry. While that's great news, many MBA grads become overwhelmed with the myriad options. You'll have plenty of factors to consider after graduation, so start considering fields that already show a need for your expertise and the promise of growth.
Consulting
The Bureau of Labor Statistics (BLS) has projected that the management, scientific, and technical consulting services will continue to show a need for freshly minted, multi-skilled business grads through 2016.
Health Care
As the baby boomers retire, people are living longer, and medical technology keeps improving, the heath care sector-second on the BLS's list of job growth projections-keeps expanding, despite recent dips in the economy.
Information Technology
It's time to put the research skills you learned in ! Digging up a school's average GMAT? scores, acceptance rates, average class size, accreditation, job placement percentages, and notable alumni can tell you a lot about how selective the program is and how impressive the degree is out in the real world. Of course, there's no good substitute for visiting campus and speaking with actual students. Before you apply, ask to interview a few faculty members and first-year MBA students to get a better understanding of the program.
Finance
According to a recent survey conducted for Fortune magazine, the two most marketable skills in the coming decade will be health care management (see above) and financial management acumen. With the ever-increasing complexity of business transactions and financial markets, the need-and the rewards-for expertise in this area will continue to rise.
Environmental Practices
Every year, consumers get a little more health conscious, the environmental alarm bells ring louder, and more and more businesses are waking up to the realization that environmentally sound practices are more profitable in the long run.
Government and the Public Sector
The federal government is the nation's largest employer and its workforce on average is closer to retirement age than elsewhere in the economy. That means they'll be doing a lot of hiring. Government work may not be for those of you with the entrepreneurial spirit, but for those interested in public service, the benefits are hard to beat, and the BLS has shown that government salaries are surprisingly comparable to private-sector salaries. Furthermore, the 2008 Job Outlook from the National Association of Colleges and Employers finds that government and nonprofit employers have the best outlook for hiring new grads.
What other factors should you consider when choosing a career? Long-term security? Marketability? Flexible scheduling? Creative satisfaction? Your personal needs will vary, but the job market is broad enough (and your degree will be useful enough) that one thing is for certain: There's a career out there that fits your bill, and all you have to do is find it.
The full version of this article originally appeared in Hobsons' MBA Guide.
Tom Zeit is a freelance writer and former magazine editor in Cincinnati whose work has appeared in a wide variety of publications.
