MBA careers: What to do with an MBA

What is an MBA?

A Master of Business Administration, or MBA, is a graduate degree that delves into the subject of business management and administration. Courses tend to focus on critical thinking and effective management. This program aims to prepare graduates to lead organizations of any size into the future.

Pursuing a Master of Business Administration (MBA) degree

When it comes to education, there's no one-size-fits-all approach. But the degree track that possibly comes the closest is the MBA. Covering such skills as management, decision-making and leadership, an MBA prepares for a variety of career paths, including roles in business operations management and administration.

The MBA’s versatility may also account for its popularity among students. While recent reports suggest a decline in overall applicants for MBA programs, it has historically outperformed most master’s programs. In the 2021-22 academic year, more MBAs were conferred (202,334) than any other master’s degree, according to the National Center for Education Statistics. (Only the health professions and related programs came close with 142,025 master’s degrees conferred.)

Like the utility of an MBA, which is diverse and evolving, earning an MBA is a process with many opportunities for customization. As you consider furthering your education, ask yourself the following questions:

• Do you want to attend a full-time or a part-time program?
• Do you want to explore a competency-based Master of Business Administration  program for an expedited experience?
• Do you want to customize your MBA with a certificate in accounting or human resources?

Depending on your answers, an online MBA from University of Phoenix could offer the right level of flexibility and skills that can enhance your career.

Let’s explore what’s possible when it comes to getting an MBA and putting it to work for you after graduation.

Is an MBA worth it?

Deciding whether to pursue an MBA depends on your goals. Not only can it teach you new skills but you also may be able to benefit from networking opportunities.

"An MBA can be helpful in distinguishing you in your field and demonstrates your commitment to learning," says Kathryn Uhles, MIS, MSP, dean of the College of Business and Information Technology at University of Phoenix. "It can’t guarantee you professional success, but it can lay a strong foundation for you to pursue the career path you want."

Ultimately, if you’re looking to enhance your career in business with a leadership role, or if you’re planning to start your own company someday, an MBA might be a smart move.

3 paths for MBA careers

An MBA doesn’t limit you to one industry or role. In fact, many professionals use an MBA to potentially enhance their career. At University of Phoenix, the MBA programs available can help prepare you for the following professions:

1. Business manager

• Overview: Business managers plan and oversee measures that help their organizations achieve optimal efficiencies. Areas that may fall under their jurisdiction include budgets, marketing, business strategy and personnel.
• National median salary: As of May 2023, according to the U.S. Bureau of Labor Statistics (BLS), business managers earned between $62,470 and $188,820 annually, with a median salary of $106,470.
• Education requirements: A bachelor’s degree and related work experience are customary. Specific employers may require an MBA.
• Job outlook: The projection is for growth of 5% between 2022 and 2032, according to BLS.

Salary ranges are not specific to students or graduates of University of Phoenix. Actual outcomes vary based on multiple factors, including prior work experience, geographic location and other factors specific to the individual. University of Phoenix does not guarantee employment, salary level or career advancement. BLS data is geographically based. Information for a specific state/city can be researched on the BLS website.

BLS Occupational Employment Projections, 2022-2032 is published by the U.S. Bureau of Labor Statistics. This data reflects BLS’ projections of national (not local) conditions. These data points are not specific to University of Phoenix students or graduates.

2. General and operations manager (GM)

• Overview: General managers are often responsible for multiple departments and may be required to formulate policies and manage daily operations. Like GMs, operations directors have a diverse set of skills and job duties that are difficult to classify, although these tasks may occur at an organizational rather than store or location level. They may help draft company policy, direct operations and plan HR strategies.
• National salary range: The range was $46,340 to $232,110 annually as of May 2023, according to BLS. The median was $101,280.
• Education requirements: Most management roles require a bachelor’s degree at minimum. Specific employers may require an MBA.
• Job outlook: A projected 4% increase is forecast between 2022 and 2032, or roughly 147,300 jobs, according to BLS.

3. Administrative director

• Overview: Administrative directors oversee and coordinate a company’s daily operations. Their responsibilities include developing administrative practices, including records management, and training protocols. In some smaller organizations, an administrative director might handle the duties of a chief executive officer or chief operations officer.
• National salary range: The annual range was $62,470 and $188,820, with a median salary of $106,470 in May 2023, according to BLS.
• Education requirements: Most administrative director roles require a bachelor’s degree at minimum, although some companies might prefer a master’s degree or higher.
• Job outlook: BLS projects this occupation to grow 5% between 2022-2032.