Graduates who earn an MBA in Business Analytics, like data analytics professionals, have several options when it comes to the type of career they choose to pursue. A Masters in Business Administration provides the skills a graduate needs to take on the responsibilities and duties required for an upper-management position. A member of management must have strong leadership skills plus the ability to effectively manage the operations of the business they are in charge of. Almost every industry requires individuals with these skills to take care of the day to day activities and processes within a business.
Popular MBA in Business Analytics Jobs
Every industry ranging from manufacturing to service-oriented fields requires managers that are both effective and innovative. Management candidates must be innovative and willing to take on new challenges to ensure that the business they are in charge of continues to grow. There are several different kinds of managers that work within a business environment. A few of the most popular include:
- Business Analytics Specialist
- Management Analyst
- Business Intelligence Analyst
- Marketing Manager
- Financial Analyst
- Personal Financial Advisor
- Operations Analyst
- Management Consultant
Individuals who earn an MBA in Business Analytics are responsible for analyzing various types of data and making determining what types of actions a business should take to maintain steady growth. Not only are they in charge of managing the workforce that keeps the business functioning, they also must provide input concerning investment opportunities, marketing strategies, and the general operations of the business.
Graduate Business Analytics Programs
MBA in Business Analytics programs are generally the same in terms of the types of classes offered. Each program may be put together or organized differently but they will all instruct students in the basic skills, strategies, techniques, and theories, that will keep a business running smoothly. In addition to maintaining the daily operations of the business, they must also possess problem-solving skills that can be used to face difficult situations head-on.
Business analysts and consultants are taught how to collect and interpret large amounts of data. The information is then used to identify risks and determine the degree of threat each risk brings to the table if any. Once the level of risk is determined, the analyst/consultant must then create an effective plan of action that the business can use to neutralize the threat and move forward. This can involve several different processes and affect many different departments. The goal of the analyst/consultant is to bring everything together to create a viable and effective solution.
MBA in Business Analytics Salary
Where an MBA graduate falls within the ranking of management will determine what their median salary is. Some MBA graduates do not work in a managerial capacity. Instead, they stay behind the scenes and work with the numbers to provide the members of management with vital information that they can be used to make the right decisions to keep the business functioning at full capacity. Because of the fast-paced and intense work environment, these MBA graduates must function in, the pay they receive must match the level of responsibility they carry. In 2015, the median wage for an MBA graduate was approximately $100,000. Since that time, the median wage has risen to a range of $115,000 to $122,000 per year.
Individuals who return to school and graduate with an MBA in Business Analytics, can re-enter the workforce and earn a wage that is substantially higher than the average. The years of experience they earned over the course of their career is advantageous because they already have a firm understanding of the responsibilities and obligations of their position. They also have hands-on experience in handling specific types of situations. With the new skills they learned from the MBA degree, they can bring both together and work with new insight and renewed motivation.
Whether you are continuing your education or are returning to school while maintaining a full-time career, earning an MBA in Business Analytics can increase your earning potential and open the door to opportunities in both management as well as in the field of analytics. It is up to the graduate to determine whether they want to work as a member of management or as a team member who works behind the scenes. Both roles are essential, each having their own responsibilities and obligations. With an MBA in Business Analytics, a graduate can create their own path and choose the type of employment that best suits their abilities. A graduate’s potential is only limited by the boundaries they place on themselves. Entering this highly competitive field takes a motivated individual who is committed to reaching all of their career goals.