For many MBA graduates, earning an MBA marks a special milestone in their career with ample opportunities for the future. Whether you have completed your degree or are nearing the finish line, planning your next career move is an important part of the career transition process. Below, we’ve put together four key considerations to think about as you plan for your career post MBA.
A survey study by Ronald Yeaple, Forbes Magazine contributor, found that post MBA starting pay increased on average of 50 percent for full-time students and 41 percent for part-time students. While salary increases are sought after by many MBA graduates, how students rank the importance of salary can vary based on countless factors from lifestyle choices to debt circumstances. Knowing exactly where you stand on the subject can help define your career transitioning goals.
In an online article by QS, a leader in global career and education network for business professionals, Cana Witt, an MBA careers advisor suggests MBA graduates consider their reasons for pursuing an MBA. “Is it to achieve promotion or a change of direction within an organization, or to increase skills with a view to leaving in the future?” Revisiting your original goals of pursuing an MBA can offer clarity with what you had set out to do, and help reevaluate how your plans may have changed.
Current vs. New Employer
“MBA can be transformative and students return to work invigorated with new and different perspectives. What they may have considered satisfactory career outcomes at the outset may later seem not to be making best use of the experience,” says Witt. Part-time MBA graduates who had planned on staying with their current employer may consider looking into other companies. Weighing the benefits of staying vs. leaving your current employer is a valuable consideration in helping you arrive at a decision.
While some graduates tackle the decision of whether or not to leave their employer, others may consider a complete career change. According to U.S. News article “An MBA May Be Your Ticket to Change,” “A 2011 survey conducted by Veritas Prep, a provider of GMAT prep services … found that 70 percent of MBA applicants are aiming to change careers.” If you share these ambitions then consider how your existing skill sets ties into MBA opportunities post graduation. Stacy Blackman, MBA admissions consultant writes, “Embarking on a new career path with a freshly minted MBA tucked under your arm isn’t just about new knowledge acquired in the classroom. It’s about leveraging your existing experience with enhanced skills, and even more so, it’s about making the most of personal relationships.”
Students pursuing an MBA in Entrepreneurial Leadership at William Woods University can also make use of the university’s Career Services offering career exploration and planning, career resources library, resume and cover letter development, job searches and other services and resources.