After I graduated with an MBA degree, I had a good overview of business areas but no advanced skills which I could apply on the job right away. In this article, I want to help you avoid that mistake and save you tons of trouble by explaining what is next to study after your MBA.
MBA is a general degree except for few experimental MBA programs which teach specific applicable skills. Therefore, after your MBA, I suggest studying and acquiring particular practical skills to leverage and enhance MBA knowledge.
An MBA is primarily the terminal degree in business unless you want to become a professor after getting a Ph.D.
This blog post will list suggested specific things or skills to study next after you acquired your MBA. Note that this list is biased toward analytical and software skills due to business and its modern trends.
Especially I favor hard skills because hard skills can let you apply for specific positions where you will need to perform particular tasks.
Few Rules About What Next To Study After MBA
Many articles on this topic list a bunch of other degrees you can study for after an MBA. However, I’m not too fond of that approach.
Do not mindlessly jump into another degree after MBA, as that may be a costly mistake. However, if you plan on further studying after MBA, it better be a field that complements and enhances your MBA.
If you acquire some specific knowledge or skills that you can combine with an MBA, you may find a career and possibly a career path.
Subjects related to business or finance are very beneficial. But do not limit yourself. That could be another field, as long as it is something practical and applicable n the marketplace.
1. MS Excel
What is the top most listed software skill in job search postings? No, it is not coding, not cloud computing or software engineering. Instead, it is good old MS Excel. Surprised? Me too.
If you do not believe me, go to any primary job site like Indeed and type excel in the job search bar. Then see how many job listings will pop up (over 600,000) —many more than for each programming language, for example.
Excel seems to be the most demanded software skill across many industries, from accounting to business analytics or data mining. And it is an essential skill you can learn even on your own.
As I said, good working knowledge of Excel can help do bookkeeping, business analysis, or data mining.
For more chances to get at least some relevant job after MBA you should learn excel for MBA or study Excel after MBA.
Learning Excel may not necessarily help you land a high-paying job right away. But it may attract attention and help you get your foot in the door in an entry-level position even with such an overqualified degree as MBA.
It seems that employers expect any business school graduate to know MS Word and MS excel these days. I mean, MS word or text editor is now a skill that goes without saying without even mentioning it in a job post.
But MS Excel is still sought after by employers. Note that MS Excel is a fundamental skill. Meaning it is not a terminal skill which is a job in itself. With MS Excel knowledge, you will also need to learn something underlying like accounting or business analytics.
2. Bookkeeping and Accounting
Studying bookkeeping and accounting after MBA may seem like a downgrade, but I do not think so. On the contrary, I see accounting/bookkeeping as a choice because this is an apparent and applicable skill that can be easily applied across many business industries.
True, you will start in an entry-level, low-paid position if you have never done accounting before as a job. But at least you have a job, and you can advance quicker once you learn the necessary skills.
Accounting is a tedious but specific skill that is easier to learn for an entry-level position. Learn basic accounting skills even from a trade school so that you could hit the ground running in the entry-level capacity. Once you master accounting, your MBA will kick in later in your career.
You can always explain to the employer that your MBA was a choice for knowledge and understanding business. And now that your MBA knowledge will help you be a better and more reliable accountant.
Many online accounting courses and trade schools can help you learn basic accounting in 6-8 months. You can easily study accouning next after you graduate from MBA.
You may be got for CPA license later in your career. CPA is a relatively safe path jobwise, and more recognized across the business field. But becoming CPA is no easy task.
There is a caveat about accounting as a profession and industry. In the long run (10-15 years), many accounting jobs are at a 98% chance of being automated.
Therefore, I think we eventually need to learn some technical skills like coding or operating the software. That is if we want to stay relevant in the job market.
3. Learn Coding (Python)
Do you have an aptitude for analysis and sitting in front of a computer screen for extended periods?
If you want to acquire some more modern, versatile, and complicated skills, you can learn to code. Studying and leanring to code next after MBA may make you more employable.
Coding is more exciting than accounting and applicable in a broader range of areas of modern life. But learning coding takes significantly longer than learning basic bookkeeping.
Specifically, I would recommend that MBA graduates study Python. Python is one of the most basic coding languages, which is easy to learn for beginners. In addition, Python is noticeably easier to study than, for example, JavaScript, Java, or C#.
At the same time, the application of Python coding language is still growing around the world. As a result, Python knowledge is becoming increasingly valuable skill for MBA in the business world.
Python is actively used in the financial industry so having MBA and Python knowledge can get your foot in the door with some python coding skills.
Python is also heavily used in business analysis, data mining, data analytics – all are growing major business-technology areas. As a result, various business areas nowadays require python coding skills.
I think that in the future, knowledge of at least basic coding in Python or a similar high-end programming language may become such a goes-without-saying skill as using MS Word or any text editor.
Do yourself a favor and search major job sites for positions in business that require Python. As an MBA
And do not get discouraged if it says you need millions of years of python coding for an entry-level position. Sometimes your other experience and MBA may help them to disregard that you do not have that.
Just keep improving your coding skills after MBA. Leverage your MBA with Python coding skills!
Having MS Excel and Python may catch the eye of an HR rep or recruiter to the point that they will pretend like MBA does not make you too overqualified.
3. Study Business Analytics (Certificate)
To make yourself valuable you can get certified as a business analyst next after MBA. Business analysts take numbers data from business and process it to determine the past, present, and future trends applicable to a specific company or industry.
Business analytics is an umbrella term covering, for example, business “data science.” There are numerous applications for business analytics skills in the modern world.
Business analytics involves anything from figuring out how to improve sales and marketing strategies to improving the financial efficiency and productivity of the company and its employees.
A business analyst is like a diagnostic specialist for business. Such professional is valuable for any large or even medium company. Business analytics certificate can help any MBA graduate to get a foot in the door as business analyst.
There are relatively plenty of business analyst jobs around. The fact that you are a certified business analyst coupled with MBA may open many entry-level jobs for you.
Note that this is analytical and slightly mathematical position because business analyst uses statistics and technology to analyze historical data and figure out trends and strategies for business.
Still, heavy math is also not required for business analysts. If you are OK with doing low to medium-level calculations and problem-solving regularly, then go for it. The best part is that your MBA knowledge is a great leverage to being a business analyst.
If you like to figure out things, then this field may be for you. And yes, knowledge of Excel and Python coding skills is a significant benefit in this area. In addition, SQL database language is another widely used skill in business analytics.
At the same time, a business analyst is not required to do complicated programming. Instead, basic working-level coding skills are enough.
Learn Excel, basic SQL, and essential Python, and obtain your business analytics certificate, and you are set to apply for entry-level business analyst positions.
4. Chartered Financial Analyst (CFA)
If you want to get into the asset management industry, you may study more and become a chartered financial analyst aftter completing your MBA.
CFA is like CPA, but for investment business. CFA is a specialist in investment and asset management. Granted, the CFA exam is very hard, and you will need at least 300 hours of tough preparation for it.
That is why you must learn about the CFA path before you jump in. Learn what CFA’s do and what is their daily job looks like. Then decide if this path is for you. You can surely combine MBA with CFA for interesing career.
I think that learning accounting or even Python would be an easier choice than becoming a CFA. But CFA is a more rare bird than even CPA.
On the other hand, CPA may be better after MBA because the CPA path is more established.
5. Obtain Masters in Quantitative Discipline.
If you are not tired of college yet and want to go for another degree, then after MBA, you can study some quantitative disciplines. They may include masters in applied economics or even applied mathematics.
An applied economics degree is way more complicated than an MBA and trains students in heavy quantitative skills applicable in many business areas.
Any quant (quantitative) degree with MBA degree may land you a job in some position you did not even imagine. It could be manufacturing or financial services. It could be even government or some big-tech company.
Quants are generally valued as employees, and the modern business environment needs them across many fields.
An MBA will complement such quantitative degree and skills to have advancement opportunities into management in the future. Just do not say that right now during the interview. Instead, say you want to excel as a quant first, and then see what happens.
5. Ph.D. in Management or Finance
If you want to go into theoretical and research and teaching business universe, you may study a Ph.D. in management after your MBA.
Ph.D. in management is the highest degree you can get in management science. However, this degree is really about academic research and teaching as a professor.
But you must love management and business subjects very much for that. Otherwise, you will get bored to the unconscious.
Note that the deeper you go like that, the fewer job opportunities you will have.
Besides academia, Ph.D. in management may open some doors in the management consulting business.
Just make sure your MBA and Ph.D. are from top business schools because top consulting companies which pay very good money hire mostly graduates from top business schools.
There is just too much competition among business graduates for positions at top management consulting firms.
Another option would be to obtain a Ph.D. in finance for those who are highly interested in finance. Some also go for Ph.D. in marketing after their MBA.
However, this is an even more exotic route, and you should carefully research your options before deciding to go for the Ph.D. program.
6. Learn SAP (or JD Edwards)
SAP and JD Edwards are leading enterprise management solution software packages. They are heavily used in supply chain management and enterprise resource planning.
That includes researching and planning anything from management of human resources to manufacturing.
Needles to say, this is also an analytical position, although it does not require heavy math. Because SAP-type software does plenty of work for you, you will need to learn the software inside out, though.
The salaries for SAP or JD Edwards (JDE) specialists are generally lucrative. However, the downside (or upside for young folks) is that traveling around the country may be required.
SAP is a more popular software package than JD Edwards, especially among smaller companies doing less than $800,000,000 in annual sales.
With SAP or JDE, you may have to rely on all the MBA knowledge you learned in the program. However, all that knowledge is necessary to become an SAP or JDE specialist, from cost accounting to supply-chain manufacturing or human resources management.
Essentially, this is another business analytical type of job. I mean, this is the opportunity to use that general knowledge you learn in MBA.
I looked up Indeed, and there are more than 88,000 SAP job openings listed. Granted, most require some level of SAP knowledge and proficiency. I found only about 3000 jobs for JDE specialists.
Can you guess at this point that learning SAP after MBA SAP is probably a better option than learning JD Edwards (JDE)?
7. SQL After MBA?
SQL stands for Structured Query Language. Essentially, this is a database programming language. SQL would be another valuable skill to study after MBA.
Pretty much all companies and governments use databases. Data is a big thing in the modern business world. Data essentially means any helpful information.
As a type of business analytics, big data and data analytics are a huge deal right now and will probably remain such in the near future. Most companies, even small ones, benefit from building and maintaining databases with valuable data.
This is especially true for such data-driven fields as accounting and finance. So, besides Excel and Python, I would recommend studying SQL.
8. Things to Study After MBA for Complete Career Change.
If you are disgruntled with your MBA studies and do not feel like trying to break into the market in a business specialist capacity, then after MBA, you may study some other things.
Many people go for a Ph.D., law school degree, or even a master’s in computer science. But, of course, all those are valid fields, but only if you want to work in those fields. So how do I know if I want to work in that field, right?
Some other people even become relationship specialists or some other staff.
However, after MBA, I do not recommend next to study for another degree. I did it, and I should not have done it.
So please do not repeat my mistake. Instead of going for another significant degree, I suggest taking classes or courses to teach you specific hard skills mentioned above.
Or, for a career change, you can learn, for example, programming per se. This could be anything from web development to software engineer. Then, once you progress in that career and decide to move into management in the future, you will have your MBA.
Plus, sometimes recruiters may like programmers with MBA because their client employers may want a programmer to understand the company’s business side.
Major programming languages to learn are Python (again), Java, Kotlin, C#, C++.
JavaScript is another popular language, but you will need to go full-stack and learn HTML, CSS, SQL, and maybe some server-side language like PHP.
Finally, even SQL itself may land you a database developer job.
You study these programming languages after MBA on your own or better by taking a course. There is no need to study for another degree after MBA if you choose the programming path.
Although more employers may be requiring computer science degrees for software development, with good coding skills, you still can find many jobs because coding is a specific hard skill.
Data mining, data analytics, artificial intelligence, deep learning, blockchain are growing technology fields that require coders.
You can improve your CV by taking short courses on emerging technologies/trends in your domain of expertise.
