How to Advance Your Career With a Graduate Degree
A college graduate’s first job is unlikely to be an executive one. Patience is essential in becoming a top-level executive because a person must develop relationships, gain experience, and learn advanced leadership skills before they qualify for an executive role.
To become a top executive at most organizations, professionals must typically meet these minimum requirements:
- Bachelor’s degree
- Work experience
- Graduate degree
- Leadership experience
For mid-career professionals planning their route to leadership, here’s how to advance your career and why earning a Master of Business Administration (MBA) may be an important step along the way.
The Path to Career Advancement
The path to executive leadership looks a little different for everyone, but the most competitive candidates in every sector often have taken similar steps in their careers. Completing each of these steps can take years, but taking the time to invest in each one can give professionals the confidence and expertise they need to be truly effective leaders.
Bachelor’s Degree
Future executives can master the fundamentals by earning a bachelor’s degree in their field of interest. Holding a relevant degree is often required to take on an entry-level or mid-level position.
For example, a bachelor’s in education can be useful for future college administrators. A bachelor’s in engineering can be a first step toward becoming the CEO of an engineering company, while a bachelor’s in healthcare administration can help someone who wants to run a hospital.
Similarly, earning a bachelor’s in business can be a useful step for aspiring business professionals across different fields and sectors. This can be a great option for students who want to be able to pivot among industries after graduation.
No matter which option students choose, taking electives in written and verbal communication, networking with classmates, and participating in extracurricular activities can be a great way for them to develop the communication skills required in business leadership.
Work Experience
Requirements vary among employers, but professionals often need to have several years of industry experience to qualify for an executive position. After earning a bachelor’s degree, future leaders can take on entry-level and mid-level roles in their intended field. During this time, professionals can gain invaluable first-hand knowledge of the challenges and needs of the type of organization they wish to someday lead.
Graduate Degree
Across all sectors, many professionals earn an MBA to prepare for executive, director, and other leadership positions. While earning a master’s degree in another subject can also be helpful, MBA programs offer classes on the advanced topics leaders in every industry need to know. These topics include:
- Communication
- Management
- Economics
- Finance
- Statistics
- Human resources
- Leadership
Given their proven specialist-level business knowledge and skills, managers and directors who hold an MBA are in high demand across industries.
Leadership Experience
After gaining some industry experience in entry-level and midlevel roles, professionals can advance their careers by taking on a managerial role within their organization. This might involve overseeing a specific team, department, project, or aspect of operations such as human resources or client satisfaction.
At this point in their career, some professionals choose to obtain a professional certification. While they are typically optional, employers often favor candidates who hold one or more certifications because they confirm the candidate has acquired a depth of expertise in a certain field.
Certifications are available in a variety of fields, including project management, asset management, computer technology, and finance and accounting.
Benefits of a Graduate Degree to Advance Your Career
Though not always required, earning an MBA or a similar graduate degree can have many benefits for professionals looking to advance their careers. Over the course of their studies, MBA students can become more competitive candidates for leadership positions, make impactful personal connections, and walk away with an education that can increase their salary expectations.
Advanced Skill Set
MBA programs teach students advanced skills that may otherwise be difficult to learn on one’s own. For example, many programs include classes on data analysis, market planning, global operations management, and integrating new technologies such as artificial intelligence into daily operations.
While gaining advanced skills in these areas can help professionals be more effective leaders, it can also make them more competitive candidates for promotions and executive positions at a wide range of types of organizations.
Networking and Coaching Opportunities
Whether MBA students earn their degree online or on campus, they have the chance to meet and learn from their peers in other industries as well as their experienced instructors.
Additionally, many programs foster close partnerships with employers in the business sector. These organizational relationships can give students the chance to receive one-on-one mentoring, build their professional network, and learn about the unique challenges of today’s economy from professionals who deal with them on a daily basis.
Increased Salary Potential
Salaries vary greatly among industries, employers, and locations, but according to the 2024 corporate recruiters survey conducted by the Graduate Management Admission Council (GMAT), the estimated median starting salary for MBA grads is around 1.75 times that of those with a bachelor’s degree.
Their data also indicates that the estimated median starting salary for MBA grads outpaces that of those with other types of business graduate degrees.
Choosing an MBA Specialization
While CEOs and executive directors oversee entire organizations, there are plenty of other types of executive positions that require a more unique skill set. In some industries, all executives need an advanced understanding of their specialty area. Fortunately, many MBA programs allow students to specialize in a specific area.
At Notre Dame de Namur University, MBA students can specialize in one of six areas:
- Artificial intelligence
- Business analytics
- Cybersecurity
- Finance
- Healthcare administration
- Public administration and nonprofit management
Each specialization’s program includes classes that allow students to dive deeper into their specific area of interest. Combining these classes with classes on organizational theory, business strategy, and other more broadly applicable leadership skills, these specialized programs give future executives the nuanced knowledge they need to be effective, impactful leaders.
Carve Out Your Path to a Career in Leadership
Degree specializations are only one way the Master of Business Administration program at NDNU prepares professionals for executive-level leadership roles. With classes taught by experts from across Silicon Valley and the Bay Area, the program allows students to get the in-depth education and personal advising they need to become effective leaders in their industry of choice.
To ensure all students get to take full advantage of these opportunities and take the classes they need, this program is offered in a flexible online format that boasts convenient eight-week class sessions.
To find out how you can earn your MBA in as little as 18 months and how NDNU can support you on your path, request more information today by filling out the form below.
Recommended Readings
What Are the Different Types of MBA Career Paths?
Sources:
Graduate Management Admission Council, “Corporate Recruiters Survey: 2024 Report”
Indeed, “15 Types of Manager Jobs”
Indeed, “How to Become a Business Executive in 7 Steps (Plus Skills)”
Indeed, “Why Get an MBA Degree? 11 Career Benefits to Know About”