Is A General Management MBA Your Backup Strategy Too

by

Alma D. Bryant

For the last several years the most popular course of study at the nation s top business schools was finance. A MBA in finance from Wharton, for example, was like getting the keys to the kingdom handed to your after graduation.

Finance is still probably the most wanted MBA field of expertise, but as the quantity of investment banking firms diminish along with the number of financial services related job offers for current MBA graduates, the most astute MBA students are beginning to recognize the advantages of substitute specialties.

A recent review of the job placement departments at the 30 top-ranked business schools reveals that about 1 in 6 of the most current MBA graduates has not landed a full time job inside 3 months of graduation.

Of the five out of six who’ve found full time employment, several have had to take job offers for positions in general management. That is something like boot camp for recent MBA graduates. Although these jobs commence at much better than $85,000 for most graduates, a general management commencement is considered a step down on the status ladder by a big percentage of these current graduates.

For most, a general management job was the backup strategy, and we can probably be sure that the majority of the people who took them were very happy about their decision when the student loan bills started arriving in the mail.

In what fields are the much more astute MBA students looking to specialize? Technology, energy and healthcare are sectors of the economy that are about as certain of growth as it gets. Each and every technology company must consistently bring new products to market to meet the competition. That creates a big requirement for product management and marketing expertise – two of the alternative MBA specialties.

Virtually every aspect of healthcare is expected to develop at above common rates for as far out as forecasters dare to look. Some business schools, and particularly George Washington University offers a web-based MBA in Healthcare Management. The core of the program teaches the fundamentals of business management in areas like finance, accounting, and human resources. Electives expand the areas of expertise to management of acute care hospitals, physician practice management, and managing skilled nursing facilities.

The people who run the business schools take the mindset that financial downturns have occurred before and like the stock market the career offers will always come back. In other words the B-schools are going to keep on turning out finance MBAs as quick as pupils can register and fork out the huge college tuition fees. If there is going to be any change it will have to come from the students.

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