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Changing Careers With an MBA

Have you been looking to advance into a higher-level management role within your field? Or are you interested in moving into a new field altogether? Whether you plan on rising through the ranks or switching to a different sector of the business world, changing careers can be a lot of work. Moving up into a leadership role within your present company can be difficult without prior management experience. And finding a job in a different field that requires new skills and knowledge can be even more challenging.

Earning a Master of Business Administration (MBA) degree is one way of acquiring the advanced leadership and management skills as well as the knowledge of sound business practices necessary to overcome these challenges. And in certain MBA programs, like those offered by the University of Texas at Tyler (UT Tyler), candidates can specialize in subjects tailored to their chosen field, be it management, marketing, healthcare management, or cyber security.

How Will the Skills and Knowledge Gained Through an MBA Program Help Me Change Careers?

A well-designed MBA program equips students with the necessary skills and knowledge to move their business career forward. MBA programs prepare you to be a competent manager, whether you would like to move into positions of greater responsibility in your current field or switch industries. What kinds of skills and knowledge are necessary for success in business administration and why?

Leadership

Managers need people skills. They need to be able to communicate clearly and empathetically. Great managers give quality, actionable feedback where appropriate. A strong manager understands what motivates people, what makes them feel supported and valued, what makes them perform optimally, and what makes them work well together. Mutually beneficial collaboration is an essential part of any high-functioning and innovative business. Understanding individual and group behavior as well as healthy communication is part of leadership — a set of skills at the forefront of study and practice in an MBA program.

Business Management Skills and Knowledge

Beyond good leadership, administrators need to fully understand the many aspects of running a business effectively and efficiently. Business finance, accounting, budget planning, human resource management, marketing, and the delegation of responsibilities to specialists and lower-level managers are some of the aspects.

Again, MBA programs like those offered online by UT Tyler are designed to educate degree candidates in the various aspects of successful business administration. Graduates gain generalized skills and practices applicable to management in any type of business. Moreover, with concentrations such as those offered by UT Tyler, degree candidates can develop skills and knowledge tailored to their specific business, and position themselves ahead of the competition for specialized management jobs in an increasingly over-saturated job market.

How Else Can an Online MBA Benefit Me in a Career Move?

Many people pursue a career change simply to do something new and different. Others are looking to move up the career ladder and earn a higher salary. Earning an MBA can be a good step toward these goals. The skills, knowledge and experience you’ll gain by earning an MBA can make you an attractive candidate to potential employers for upper-level management jobs.

Moreover, MBA degree holders generally command substantially higher salaries than those with just a bachelor’s degree in business. Fortune reported that the average starting salary in 2015 for MBA holders was around $100,000, compared with an average of $55,000 for bachelor’s degree-level new hires.

Although attaining an MBA requires a sizeable financial investment, it can definitely pay off, and quickly. In simple financial terms, the increase in salary alone can offset the investment for an MBA program in just a couple of years.

Online programs like UT Tyler’s are typically more affordable than most on-campus, residential MBAs. Moreover, an online MBA allows degree candidates the convenience of working while obtaining their degree. This can result in a substantially lower investment due to retaining one’s salary, not incurring moving costs, and not having to pay for extra housing and living costs while in school. Clearly, if you are looking for a salary increase and a more rewarding job, earning your MBA online is a good move.

Learn more about the UT Tyler online MBA program.


Sources:

Fortune: Congrats, MBA Grads! You’re Getting a $45,000 Raise

Fortune: These 6 Employers Hired More Than 1,000 New Graduates Last Year

The Muse: Want to Switch Careers? How an MBA Opens Doors


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