Are nonprofits hiring MBA graduates?
Traditionally MBA graduates have been linked to jobs rooted in finance, investment, consulting and other kinds of banking or Wall Street-type jobs. However, this trend is changing. Today nonprofits want to hire MBAs. While graduates don't traditionally seek these positions, the opportunities are there and growing.
Opportunities
In 2008 a survey conducted by the Aspen institute found only six percent of MBA graduates planned to pursue jobs in the social sector. However as the recession hit and for-profit jobs were in short supply, many job seekers began to look outside the traditional realm.
What they found were many government and nonprofit opportunities. As school recruitment was down, government and nonprofit MBA recruiting activity increased by 35 and 12 percent respectively. Nonprofits seek the expertise of MBA holders and many of today's graduates are finding these opportunities not only available, but attractive. While it is true nonprofits overall cannot offer the hefty salaries and bonuses traditionally linked with an MBA, these jobs can lead to terrific leadership positions, which is a very desirable trait.
Versatile Skills
MBA graduates possess vision, flexibility, adaptability and understand both broad and niche concepts in all areas of business. In addition they've had exposure to important concepts such as technology and how it can be used to increase cost-efficiency in operations, finance and marketing. All of these attributes are typically desired by any organization.
The knowledge an MBA degree offers is valuable to the nonprofit organization, and agencies seek hires who can use these skills to provide solutions for the unique problems nonprofits experience in areas such as raising capital, planning fund-raising and managing foundations. Often finding solutions takes creativity and strategy, and the versatility MBA graduates possess fulfills this need.
Applying MBA knowledge
MBA programs offer concentrations in finance, operations, marketing, and more recently, technology, all of which can be applied in the nonprofit environment. Students who receive an MBA degree can easily assimilate acquired knowledge into nonprofit organizations.
Karen Schweitzer, an adviser to business school students, states "Business majors who specialize in nonprofit management usually take courses that are similar to those in a traditional management program. Aspiring nonprofit managers need to develop solid leadership skills and learn the art of accounting, marketing, and business administration."
While the organizational missions may differ between the for-profit and the nonprofit, the skills necessary to run each type of agency are similar. Many of these agencies actively seek MBA graduates to fill leadership positions to help them reach their respective objectives and goals.
As a result nonprofits and many MBA holders are finding the relationship to be mutually beneficial and a good match.
