That’s when you start thinking about all the big plans you had for a career when you graduated from college, all held back by a single metal plate. You wanted to get so far ahead in the business world, and end up starting your own business, but that goal seems nowhere near its completion.
Well. It doesn’t have to be this way.
How Advanced Degree in Business Can Help Your Career?
With a bachelor’s degree in business , you can take your career up to a certain point at a certain speed. Higher education can do wonders for your career, in most cases.
A master’s degree can help you get ahead: Many entry level jobs today now require at least a master’s degree, and practically all senior management and senior professional positions require a master’s. For instance, in various educational administrations, public affairs and social services occupations, master’s degrees are replacing bachelors as the minimum education required.
Greater career advancement opportunities: Earning a graduate degree shows the persistence and determination to excel. Master’s degrees are typically very challenging and encourage students to push themselves to their limits. With their rigorous training and personal growth, these degrees teach students a lot about discipline, leadership and the ability to work well within various teams. These are highly sought after qualities in the business world by most employers.
Financial payback: Anyone looking for a graduate program needs to consider the financial aspect as well. The most important factor is the return on investment. According to the United States Census Bureau, the following figures hold true:
|
Degree Level |
Work-life Earnings |
|
Bachelor’s Degree
|
$2,563,000
|
|
Master’s Degree
|
$3,257,000
|
|
Professional Degree
|
$4,013,000
|
|
Doctorate Degree
|
$3,535,000
|
As you can see from the table, a higher educational qualification in the field of business pays back well. There is a noted difference in the amount you can earn at the undergraduate level and the amount you can potentially make with postgraduate degrees.
The difference in pay scales across the same jobs: There are many instances where you get the same job title with a bachelor’s degree that you are getting with a master’s degree in business. People with a bachelor’s in business can also become accountants and auditors, as can people with a master’s or professional degree. So where is the difference then?
According to the United States Census Bureau, accountants and auditors earned $2.7 million in work-life earnings with a bachelor’s degree; $3.2 million with a master’s degree and $3.8 million with a professional degree. Similarly, students with masters in business were able to make $3.9 million as financial managers, whereas students with a bachelor’s degree make $3.3 million in work-life earnings, with the same designation.
These numbers point towards one of the most evident causes of choosing to go for a higher educational qualification – financial rewards.
Personal growth: Money, job titles and career advancement isn’t all that comes with a master’s degree; you also grow at a personal level. A higher education qualification exposes you to ideas that could develop your mind. They offer an opportunity for students to challenge themselves academically, add to their existing knowledge reservoir and experience the most life rewarding pursuits.
Sense of accomplishment: Another indirect way of advancing your career is the confidence boost you get when you graduate. It gives you a strong sense of accomplishment after the amount of effort you have put in to complete the degree. A higher educational qualification, therefore, serves as a central character-building life experience.
Greater recognition and credibility: Needless to say, a master’s degree serves as an additional star on your resume. With a higher qualification in hand, you would be considered an authority in your area of study.
How to Get an Advanced Degree in Business?
The first thing you need to consider is the specific program you want to go for. Graduate programs are usually more focused on a particular subject area. For instance, you could go for any of the following graduate programs:
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Master of Business Administration
A master of business administration program will aim to develop in you the organizational, communication and leadership skills required for upper-level management or executive positions.
You can also enroll in a master in accountancy program after you have done your undergraduate degree in accounting, though business majors are typically accepted in this major as well. You will be taught how to read and create financial reports as well as advance understanding of topics relevant to risk exposure, securities law, tax law, financial management and auditing.
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Master of Science in Finance
Graduate programs in finance are typically open to pure finance majors as well as students who have a general degree in business studies. This program typically trains you to work as a financial analyst or manager and exposes you to in depth knowledge of contemporary market conditions.
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Doctorate of Business Studies
This program is highly intensive in nature and is typically considered training ground for national and international level experts and researchers in business studies. The basic aim of this program is to give students a strong understanding of their research field, its development, central research questions and social significance.
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Doctor of Business Administration
A doctorate in business administration trains highly gifted individuals to take up leading roles in firms across the globe. The program exposes students to the world of business and all its various aspects. Students are required to select a concentration to conduct their thesis on. This, like any other doctorate, is also a research intensive program.
Where Can You Work with a Graduate Degree in Business?
After an advanced degree, you have two major options. You can either work where you were previously working, but with increased salary and better job description.
The other option would be to opt for a new career altogether. Take a look at some of the most popular careers with a graduate degree:
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Operations Research Analyst
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IT Manager
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Management Analyst
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Financial Analyst
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HR Specialist
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Information Security Analyst
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Hotel Manager
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PR Specialist
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Product Manager
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Corporate Recruiter
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Corporate Communications Manager
So two years later, when you are sitting at an office desk, and you randomly come across the metal designation plate, you would be proud of what is written on it, with a deep rooted feeling of satisfaction and sense of accomplishment.
