In years past, Master of Business Administration graduates set their sights almost exclusively on jobs in the financial-services industry, but these days professionals armed with business-school degrees are increasingly likely to join a startup company—or even launch their own firm.
A recent survey from the MBA Career Services & Employer Alliance2 found that startups have increased their recruiting at business schools. Of the 80 schools surveyed, 53 percent said the biggest increase in recruiting came from startups. Only 33 percent of the schools reported an increase in recruiting from companies with 500 or more employees.
Startups Need Employees with Business Acumen as Well as Tech Savvy
It’s not surprising that startup businesses are increasingly interested in recruiting MBA graduates. Young companies are finding that it takes more than tech savvy to build a strong business. It takes the kinds of skills that students learn in Queens University of Charlotte’s online Master of Business Administration program. The Queens online MBA program emphasizes leadership and focuses on developing the business acumen required to build and manage successful organizations.
Since the financial crisis of 2008, fewer MBA graduates are choosing careers in finance, according to The Economist.3 Shrinking compensation in the financial services sector is only part of the story. Startups offer MBAs the excitement of an entrepreneurial culture and the ability to experiment with different roles—allowing business leaders to grow into their natural position. Business-school grads are also attracted to the signing bonuses, equity stakes and stock options that many young companies offer.
Tech, Finance and Consulting: The Big Three Industries for MBAs
Last year, about 16 percent of MBA graduates took jobs at technology companies, according to a Bloomberg Businessweek survey.4 The tech industry is the third most popular industry for B-school grads after finance and consulting, according to the survey. Chief executives at 24 of 67 companies in the S&P 500’s Information Technology Sector Index have MBAs or equivalent degrees, according to the article that accompanied Bloomberg Businessweek’s poll.
It’s also not unusual for MBA grads to want to apply their new business skills to creating their own companies, according to a recent Fortune article.5 As a result, students seek MBA programs that give them the tools they need to create a business from the ground up. Students enrolled in the Queens online MBA program learn what drives organizational success from a variety of guest speakers who are entrepreneurs and CEOs.
Are you ready to jump into the startup culture? If the answer is yes, click here to request more information, or call an admissions representative at: 866-313-2356.