Making a career switch can seem intimidating. After all, as a professional in your field, you may have spent years or even decades building a skillset specific to your industry. If you’re ready for something new but nervous about embarking on a career change, it may help to remember that you’re not alone.
Changing careers is more common than you may think. In 2021, 53% of people who left their jobs did so to switch careers.1 These transitions aren’t just for the younger generations, either. Of people who attempted to change careers after age 45, 82% were successful, and 87% were happy or very happy with their change.1
“If you are considering changing jobs or industries and weighing options to make a difference in the transition, getting your MBA is one of the best strategies to help you be successful.” – Mary Jacobs, M.A., Assistant Dean of Graduate Programs & MBA Program Director at Saint Mary’s University of Minnesota
If you’re interested in a career change, pursuing further education may be the logical next step to ensure a smooth transition. Many career changers find that going to business school helps them prepare for their new paths.
Why Go to Business School?
Going to school for business is a common choice for professionals seeking to build skills that apply to multiple industries and career paths. For career changers specifically, earning an MBA can open doors to a host of new career options.
We recently spoke with Mary Jacobs, Assistant Dean of Graduate Programs and MBA Program Director at Saint Mary’s University of Minnesota, who reinforced this point. “If you are considering changing jobs or industries and weighing options to make a difference in the transition, getting your MBA is one of the best strategies to help you be successful,” Jacobs shared. “Career transitions aren’t easy, but if you leverage your MBA credential, the new skills that you have acquired in graduate school, and networked with classmates and professors, making a successful career change will happen because of your investment in yourself and your education.”
According to U.S. News & World Report, many MBA graduates agree. In 2021, the publication interviewed several career changers who cited their choice to pursue an MBA as a top factor in their transition to a new job. One interviewee, Alison French, describes business school as the “perfect platform for people seeking to switch their industry or job function2.”
Going to business school is also a top choice for those seeking job security during their career transition. Growth in business and finance occupations continues to outpace the average for other fields, with about 911,400 new jobs projected each year between 2022 and 2032.3 With the added benefit of an above-average median salary of $79,050,3 it’s easy to see why a business school is an attractive option for career changers.
In addition to steady job growth and higher salary expectations, career changers who go to school for business gain a comprehensive skillset that can help them enter a wide variety of careers.
Are You Ready to Switch Careers With an MBA?
Enroll at Saint Mary’s University of Minnesota to customize your studies and earn an online MBA that helps you meet your goals.
Potential MBA Career Transitions
Attending business school to earn an MBA can help career changers make a smooth transition to multiple new career paths. With skills in marketing, finance, project management, human resources, and more, a range of new opportunities can become available. Additionally, an MBA can help professionals transition to leadership and upper management roles.
“Career transitions aren’t easy, but if you leverage your MBA credential, the new skills that you have acquired in graduate school and networked with classmates and professors, making a successful career change will happen because of your investment in yourself and your education.” – Mary Jacobs, M.A., Assistant Dean of Graduate Programs & MBA Program Director at Saint Mary’s University of Minnesota
Market Research Analyst ($74,680/year3)
Market research analysts build a specific set of knowledge to inform the marketing and sales efforts for a particular product or service. Their responsibilities include gathering data on a specific market, analyzing that data, reporting their findings to members of management, and evaluating the effectiveness of marketing strategies.
Project Management Specialists ($98,580/year3)
Project management specialists guide teams through multi-step projects from beginning to end. They communicate with clients, formulate plans, assign tasks, and collaborate with internal teams, including technical, creative, finance, management, and other members of an organization, to ensure projects are completed efficiently.
Management Analyst ($99,410/year3)
Management analysts, also called management consultants, provide recommendations for improving an organization’s processes and profitability. They identify problems within an organization, make observations, analyze data, and provide members of management with suggestions for organizational improvement.
“The value of an MBA will last your entire career. You will be far more strategic and analytical in the areas of finance, operations, marketing, and economics.” – Mary Jacobs, M.A., Assistant Dean of Graduate Programs & MBA Program Director at Saint Mary’s University of Minnesota
Training and Development Manager ($125,040/year4)
Training and development managers oversee the creation and implementation of training programs for an organization’s employees. They lead a team of training and development specialists, manage the training budget, review and purchase training materials, and evaluate the effectiveness of their training programs.
Human Resources Manager ($136,350/year4)
Human resources managers work to ensure a safe and healthy working environment for employees. They also support recruitment efforts for open positions and may interview candidates, make job offers, and coordinate employee benefits. HR managers must be skilled in communication and conflict resolution in addition to being trustworthy individuals capable of protecting employee privacy.
Find the Right MBA for Your Career Change
If you’re ready to switch careers with an MBA, then it’s time to find a degree program that aligns with your ambitions. At Saint Mary’s University of Minnesota, you can earn an online MBA designed for working professionals and helps you build practical skills by studying real-world issues. With 14 graduate certificates available, you’ll have the opportunity to tailor your studies to your individual goals and graduate with a specialized degree for your career change.
Switching careers isn’t easy, but new skills gained from an MBA program can help make the transition smoother. Learn more about Saint Mary’s online MBA program today.
Sources
- Lee, Kate. “It’s Never Too Late to Switch Careers.” Harvard Business Review. Dec. 20, 2022. Retrieved Apr. 19, 2024 from https://hbr.org/2022/12/its-never-too-late-to-switch-careers.
- Kowarski, Ilana. “How an MBA Can Lead to Career Change.” U.S. News & World Report. May 20, 2021. Retrieved Apr. 19, 2024 from https://www.usnews.com/education/best-graduate-schools/top-business-schools/articles/how-an-mba-can-lead-to-career-change.
- U.S. Bureau of Labor Statistics. “Business and Financial Occupations.” Apr. 17, 2024. Retrieved Apr. 19, 2024 from https://www.bls.gov/ooh/business-and-financial/home.htm.
- U.S. Bureau of Labor Statistics. “Management Occupations.” Apr. 17, 2024. Retrieved Apr. 19, 2024 from https://www.bls.gov/ooh/management/home.htm.
