Master’s in Business Administration and Doctor of Business Administration degrees have very lucrative career paths. It is becoming a designation distinguisher which with the right skill set can open a wide avenue of opportunities. Here in this blog, we have highlighted the top five career options for people with an MBA or DBA degree:
1. Consultant
Average Annual Salary: $73,327 per year
Business consultants are responsible for overlooking how a company operates. They analyze the existing business processes, identify loopholes if any in the system, and suggest improvement methods. Consultant’s job responsibilities also include communicating with people in senior management and stakeholders to understand their goals for the company. Implementation of new technology and conducting training sessions and workshops are also part of their job description.
2. Logistician Analyst
Average Annual Salary: $76,270 per year
Logisticians coordinate and analyze an organization’s supply chain. The employment rate for logisticians is projected to increase by 30 percent from 2020 to 2030. They focus on improving the supply chain management of a business that includes managing the processes for the receiving and distribution of goods, order completion as well as supervising the company’s current inventory.
A logistician analyst can suggest ways of introducing improvement measures to the company’s current supply chain processes for example method of customer payment, shipment tracking, invoicing, and data entry. From receiving the receipt of raw materials to the distribution and delivery of the final product, a logistician has to overlook the entire process of production.
3. Entrepreneur
Average Annual Salary: $62,255 per year
As an entrepreneur, you are entirely responsible for initiating and leading the business activities. There is no fixed salary package for an entrepreneur because their income grows as their business profit grows. The primary role of a person that owns a business involves building a comprehensive business plan, creating jobs, identifying gaps and opportunities in it, addressing potential risks and challenges associated with the daily administration of business operations. Moreover, hiring employees, managing payroll and wealth are also part of an entrepreneur's job role.
4. Professor
Average Annual Salary: $54,497 per year
People with MBA or DBA degrees can also always pursue a career in academics. Being an instructor at a university or college will involve designing syllabus, managing students and their lessons. They can impart their valuable teachings in the area of business administration, finance, accounting, human resource, supply chain management, and leadership.
5. Economist
Average Annual Salary: $106,721 per year
The field of economics is primarily based on understanding market trends and analyzing data to forecast business performance. A business economist studies the survey data to decipher and extract meaningful information out of it. They make report and graphs to communicate the market trends to the company’s leadership team which helps the company’s senior management to understand their performance as compared to other companies in the market. The economist’s report is often used for making informed decisions for the company in terms of upcoming policies and financial assessments.
Reference: https://www.indeed.com/career-advice/finding-a-job/dba-degree-jobs
