A master's degree in business may be your ticket to a better job, higher earnings or a move in another career direction. It is evidence to potential employers, or your current company, that you have the formal training and competency to function, and excel, in a key management capacity. Although many people still earn advanced degrees by attending brick and mortar institutions, more and more individuals are choosing to obtain graduate degrees in business by attending online schools.
Generally, a master's degree in business takes approximately two years of full-time study to complete. There are some accelerated programs that will allow you to complete it faster. This advanced business degree typically allows students to develop their expertise in a defined area of business. Many graduates of master's degree in business programs are qualified to hold a wide variety of positions in business. A few of the career options are: consultant, financial analyst, operations manager and marketing manager.
After IT consultants, business consultants are the most commonly sought-after advisers. They are hired by nonprofits, private and public organizations to share their knowledge and expertise in a variety of business areas, including operations, accountancy, management and marketing. They are often involved with the assessment and design of systems, manuals, work-flows and procedures. The primary objective of a business consultant is to enhance the efficiency and overall effectiveness of organizations. PayScale.com reported that first-year consultants earned a median income as high as $60,524 for the reporting period of September 2009.
A financial analyst is sometimes called a business or stock analyst. He or she basically evaluates companies for the purpose of determining their financial value. The job consists of examining financial reports, meeting and interviewing company executives and analyzing third-party sources regarding the company and industry. Some financial analysts recommend whether a company's stock should be purchased, sold or held by investors.
Many times an analyst is assigned to work a specific company or sector of the economy. According to PayScale.com, analysts with less than one year on the job earned a salary in the $40,848-$57,283 range as of September 2009. Analysts with more than five years of experience were in a salary range of $50,250 to $92,075.
Many people with a master's degree in business work as operations managers. They are intricately involved with strategically planning, coordinating and leading the day-to-day operations that produce goods and services for all types of businesses, including manufacturing facilities, retail operations and service enterprises. They must have the ability to make optimal use of companies' material, financial and human resources. The starting salary range in September 2009 was $38,884 to $69,272 per year.
Marketing managers have the abilities and skills to identify the demand for a company's product or services. They then make use of the information and formulate approaches and techniques to capture a share of the market. Marketing managers are not only responsible for maximizing the profits of an organization, but also ensuring that clients are kept happy. Many marketing managers are engaged in the development of products and services from conception to roll out. In April 2009, Salary.com stated that the median salary for a marketing manager was $85,606.
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