5 Great Jobs in Banking and Investments for MBA Grads
In terms of a lucrative and rewarding career path, getting an MBA makes one fairly versatile. Any area of concentration is good, as the basic core of your MBA program will always include finance, human resources, marketing, and accounting – all essential for any successful business. Many programs introduce students to campus career services immediately, so at Manhattan Admissions, our applicants are told to make this a priority in their first year. Base salaries for MBA grads typically begin at $90,000, with total compensation going over $125,000 when benefits, bonuses, and profit sharing figures are factored in.
As we mentioned earlier, you’ll find MBA grads in almost any industry. However, three of the most common ones are banking/investments, accounting, and marketing. Here we’re going to concentrate on banking and investments. This is our list of five great jobs for MBA grads in this very broad field:
- Investment Banker
One of the most prestigious jobs among those with an MBA is that of Investment Banker. This is a fast track to the top of the corporate ladder as long as your investment advice exceeds expectations. What’s more, as an investment banker, you’ll utilize all the basic areas that you studied in business school: money, business, and management.
Investment bankers generally have a network of investors that trust them to bring profitable deals to the table. Investment banks help companies and governments agencies to raise money by issuing and selling securities in the primary market. They raise funds in the capital markets (both equity and debt), as well as providing strategic advice for mergers, acquisitions and other financial transactions.
- Venture Capitalist
Another career under the area of banking/investments is the fast-paced world of the Venture Capitalist. This is really an investor who provides money to startup ventures for the purpose of reaping a profit if the company scores a home run. They also sometimes experience losses, but usually are wealthy enough to take those kinds of risks.
Venture capitalists look for opportunities in industries where they can own a large portion of a company so as to influence important decisions regarding the company’s expansion, overall direction, policies and procedures. When initially assessing a company, elements they generally look for are: a strong management team; a large potential market; and a unique product or service with a strong competitive edge.
- Financial Planner
Many MBA graduates take the path of Financial Planner, which involves making educated guesses on whether or not clients are prepared for the future. Financial planners manage earnings, investments, and taxes and lastly, offer ways to help clients recognize the importance of a planned financial future. Starting salary is usually in the range of $80,000-$90,000.
A high-risk, high-reward career comes under the title of Trader. They buy and sell stocks, options and bonds. The main difference between a trader and an investor is the amount of time the person holds the asset. Investors tend to have a longer time frame, whereas traders tend to hold assets for shorter amounts of time so as to better capitalize on short-term trends. While it may not be as stable as other jobs, there’s an enormous amount of satisfaction in trying to stay ahead of the curve with your predictions. The starting salary varies greatly, but the average is around $95,000.
One of the traits that make a person pursue an MBA in the first place is the desire to identify and solve problems, which brings us to Analyst. Here are a few areas to consider.
A Financial Analyst is one who will review a portfolio and the tendencies that make a particular stock either jump or fall. Usually self-motivated and detail-oriented, their primary tasks are: researching market trends; trying to forecast the future; and evaluating why specific processes or solutions aren’t working. Salary range is $90,000-$110,000.
A Management Analyst will come into a business, investigate its corporate structure, perhaps interview employees and give their tips to top management in certain areas such as: how to downsize inflated departments; pinpoint paths of future profit; or instituting or even streamlining management procedures. Salary range is $100,000-$120,000.
Some final tips for the actual job search. And good luck!
Know what you’re looking for. If you can narrow down your interests while considering your specialization, it will be easier to focus on opportunities that are a good fit for you.
There is no such thing as a perfect resume, but that doesn’t mean you can’t try to come up with one. Make certain your resume reflects your qualifications and demonstrates your capabilities. Use short examples for emphasis.
Invest time in building relationships as well as a strong professional network. The more people you know, the more likely you are to hear about a potential job opportunity.
Market yourself online. There are many job sites (e.g. LinkedIn) that allow you to build an online presence, market your skills, and even meet employers. Start by doing a little research to find out which sites are better than others for your particular job category.
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