Now that you have decided to do an MBA, it is time to decide the best MBA program to suit your profile, aspirations, and situation. Here is a checklist of the factors that you need to consider:
Product and Brand Managers
An MBA is a pre-requisite for the role of a Brand Manager. A Brand Manager’s responsibilities include coordinating and overseeing a variety of divisions of a corporation to ensure the efficient and timely flow of a product to the market.
A Brand Manager focuses on product and market development, either on the domestic front or in international markets.
It is a preferred field in marketing as it has a more stable and balanced lifestyle compared to profiles in investment banking, venture capital, media, or consulting.
Work picks up during the planning season when Brand Managers start developing marketing plans for the coming year.
This profile might also require you to work overseas for a few years.
MBA Careers in Investment Management
Investment Management is a low-risk, high reward industry as investment managers are paid a percentage sum of the amount involved with the client.
In addition to Investment Managers, there are Investment Research Associates who are responsible for generating recommendations to Portfolio Managers on companies or products to invest in across a range of markets (stocks, bonds, forex etc).
MBAs in Media & Entertainment
The Media Industry offers a host of jobs to people with little or no experience in the industry but have the passion and skill to work hard and succeed.
This industry continues to flourish in India and abroad even during an economic recession.
The qualities required in an individual to get through are aptitude, confidence, innovation and a driven attitude. The atmosphere is collegial and friendly. The rapid pace of change attracts the young who can adapt quickly and can pursue new opportunities fast.
It may not be as high-paying as Investment Banking or Consulting, but the opportunity to work with companies such as Sony, Time Warner, and Viacom and the inherent creativity and glamour of the job usually compensates for that.
Life as a Venture Capitalist
Venture capital investments generally are high-risk, but offer the potential for very high returns.
A highly competitive, challenging, and highly rewarding field, a career as a Venture Capitalist (VC) requires a background in finance and economics.
Those who thrive on commitment, competition, risk, and high rewards find this industry to be just right for them.
MBAs in the Fashion Industry
Networks and experience count more than education in the Fashion Industry.
A hands-on experience in sales, consulting or merchandising is essential before joining the industry. Only very few companies like Live Strauss, Nike, Cartier, and Eddie Bauer hire MBA’s for creative positions.
The jobs required here are in finance and supply chain issues. The companies generally look for experience prior to business school, especially in consulting or industry.
Real Estate MBAs
Real Estate is a complex industry encompassing buying, selling, leasing, and financing property.
An MBA needs to have specific qualifies like people skills, and a sense of entrepreneurship to pursue jobs in the Corporate Finance, Investment Finance, or Property sectors.
Passion and enthusiasm for the industry and knowledge of the real estate market is a prerequisite for starting a career in this sector.
The Energy Industry
There is a strong prevalence for hiring technical people in the Energy industry and there is a stress on appointing people with a sound academic background.
The sector compulsorily looks for technical undergraduate degrees or pre-MBA work in energy or another technical field.
A highly demanding yet rewarding job, you will be expected to formulate original and realistic solutions to meet business needs.
Management Consultants are expected to have strong analytical and interpersonal skills.
Problem-solving and the ability to remain focused in a deadline-driven, detail-oriented environment should already be one of your trademarks because there will be intense crunch times during the life span of your projects that will entail you to give your best to exceed your client’s expectations.
Markets are prone to constant change, and they require individuals with multi-ethnic skills as well as a proven ability to learn in a deadline-driven environment. Management Consultants are expected to specialize in diverse sectors such as media and entertainment, technology, or change management.
Complex research on various technologies and processes to create practical yet innovative solutions for clients, and then convincing them to act on those solutions are an essential part of the job.
It involves frequent travel; requiring you to spend 75% of your time away from home. However, rewards include handsome starting salaries straight out of a business school.