From Start-ups to Fortune 500s: Career Opportunities Unlocked by a Master’s Degree in Business Administration

Intrigued by the idea of pursuing your MBA? Earning a master’s degree in business administration can be an ideal way to unlock new career opportunities, ranging from pivotal roles at innovative start-up companies to leadership positions within established Fortune 500 companies.

By knowing what this type of degree program entails and what you can do with an MBA degree, you may work toward making an informed decision when it comes to your post-graduate journey.
 

MBA Careers at a Glance

What can you do with an MBA degree, anyway? One of the best benefits of having an MBA is the versatility and flexibility that comes along with it. There is no shortage of opportunities to explore, and many students who graduate with an MBA end up moving into roles across a variety of industries, including (but not limited to): marketing, consulting, entrepreneurship, technology, healthcare, government, manufacturing, finance, operations, or nonprofit.
 

Start-ups vs. Fortune 500 Companies

If you decide to get an MBA, you may be wondering whether you’d be happier working for a startup or a Fortune 500 company. Of course, each option offers its own inherent benefits. For example, start-ups tend to offer dynamic work environments with plenty of exciting opportunities for innovation, rapid growth, and new responsibilities.

Meanwhile, Fortune 500 companies tend to offer more structured career paths with extensive resources, as well as the potential for MBA graduates to lead large teams and complex projects.
 

Benefits of an MBA for Career Advancement

Earning a master’s degree in business administration can set graduates up for future success with perks like access to a broad network of alumni, faculty, and industry professionals. Additionally, MBA graduates have higher average salaries compared to those with only an undergraduate degree.

According to the Graduate Management Admissions Council (GMAC), the median starting salary for a new MBA hire was $125,000 in 2023. Meanwhile, the average salary for a professional with a bachelor’s degree was just $75,000.

At the University of Minnesota’s Carlson School of Management, the mean salary for the Class of 2024 was even higher at $131,208, with a three-year average mean salary of $131,972—highlighting the strong earning potential for MBA graduates.

Beyond salary, the foundational knowledge and skills acquired in an MBA program can prepare working professionals for roles that require strong decision-making and management capabilities, opening doors to leadership positions in various industries.
 

Career Opportunities in Start-ups

If you’re interested in working for a start-up and the resulting opportunities for innovation, below are several kinds of MBA career paths you may explore in this realm.
 

Roles for MBA Graduates in Start-ups

Fortunately, ample potential careers exist for MBA graduates who want to work in start-up companies—from business development manager and product manager to marketing manager.
 

Business Development Manager

Business development managers are typically hired by start-ups seeking assistance with growing and scaling their companies. These professionals are often responsible for researching business opportunities, finding ways to drive growth, and exploring avenues to expand the start-up’s reach.
 

Product Manager

Product managers can play other central roles within a start-up. Specifically, these professionals are responsible for overseeing just about every aspect of a new product, from its initial brainstorming to the final stages of development and release. These professionals need to have not just solid business acumen but also leadership and communication skills.
 

Marketing Manager

Marketing managers are essential among start-ups because they handle nearly everything related to a company’s marketing and branding, ranging from determining the demand for products and services to identifying and researching target customers.
 

Advantages of Working in a Start-up Environment

There are numerous benefits of working for a start-up as an MBA graduate, including:

• The opportunity to gain entrepreneurial experience while shaping the company’s direction and overall product strategy
• The potential for rapid career advancement due to smaller team sizes and greater responsibility
• The chance to experiment with innovative ideas and creative solutions in a flexible, welcoming environment
   

Skills Utilized and Developed in Start-up Roles

So, what types of skills do you need to succeed in a start-up role as an MBA graduate? While no two roles will have exactly the same expectations or demands, some of the most important skills you can have include:

• Cross-functional collaboration, or the ability to work closely with diverse teams and skill sets
• Adaptability and problem-solving, or the ability to navigate a dynamic and fast-paced work environment
• Leadership and initiative, which means knowing how and when to take charge of projects while shaping strategy—even in early career stages
   

Career Opportunities in Fortune 500 Companies

If your calling is not with a start-up but rather with an established Fortune 500 company, there are some specific roles you may want to consider.
 

Common Roles for MBA Graduates in Large Corporations

Though this is by no means an exhaustive list, here are some of the most popular MBA career paths in large corporations:
 

Management Consultant

Management consultants (also known as management analysts) are business professionals whose primary responsibility is to help companies pinpoint and solve problems. This may include addressing ineffective or wasteful processes and finding ways to streamline operations while increasing revenue.
 

Marketing/Brand Manager

Marketing and brand managers are responsible for shaping and maintaining a company’s brand identity, ensuring consistency across all marketing channels. They develop and execute strategic campaigns, analyze market trends, and oversee product positioning to maximize brand awareness and customer engagement. In Fortune 500 companies, brand managers collaborate with cross-functional teams—including product development, sales, and advertising—to drive business growth and maintain a competitive edge.
 

Financial Analyst

Many Fortune 500 companies and other large corporations hire financial analysts as a means of gaining valuable insights about a company’s finances and the measures that could be taken to boost profits. Financial analysts can help businesses make critical decisions about their spending, budgeting, investing, and more.
 

Human Resources Manager

If you enjoy working with people, then using your MBA to pursue a role as a human resources manager may be right up your alley. In this line of work, you’ll be responsible for planning, coordinating, and handling numerous aspects of an organization’s administrative functions. From recruiting and hiring to training and conflict resolution, HR managers do it all.
 

Operations Manager

Many larger companies also hire business operations managers to oversee the operations of the company as a whole or even take a closer look at specific departments. These professionals are responsible for managing day-to-day operations, implementing policies to streamline business functions, and ensuring that resources are used efficiently.
 

Strategic Planner

Last but not least, strategic planners help businesses oversee and develop their short- and long-term strategies. This includes formulating realistic goals and objectives based on the mission and values of the company itself as well as creating plans of action for companies to follow.
 

Advantages of Working in a Fortune 500 Environment

Some top benefits of using your master's degree in business administration to work for a Fortune 500 company or large corporation include:

• Opportunities for structured career advancement with clear progression paths, possible mentorship programs, and plenty of professional development opportunities
• The stability that comes with companies that have well-established organizational processes, plus access to resources that may include access to training programs
• Global opportunities, such as international assignments that allow you to work with a global workforce
   

Skills Utilized and Developed in Corporate Roles

While the skills required to work for a Fortune 500 company may vary from one role to the next, some of the most commonly utilized skills in this line of work include:

• Strategic thinking and planning, which involves developing long-term growth strategies and aligning departmental goals
• Leadership and management, including the ability to lead teams, manage large projects, and influence organizational change
• Complex problem-solving abilities and the knowledge to address multi-faceted issues using data-driven solutions
   

In-Demand Functional Career Paths for MBA Graduates

With so many possible careers for MBA graduates, you might wonder what path is right for you. As you explore your options, keep the following in-demand and functional career paths in mind.
 

Consulting

Consulting professionals with MBAs may be in charge of managing diverse projects and/or working with clients across a wide range of industries. These professionals need to possess strong analytical thinking skills, adaptability, and solid verbal and written communication skills to do their jobs well. They may enjoy the opportunity to progress from associate to manager and even partner roles in consulting firms.
 

Finance and Investment Banking

In addition, many MBA graduates go on to pursue finance and investment banking roles as financial managers, investment bankers, or even venture capitalists. These professionals put their financial modeling, analysis, and capital market skills to work as they aim to maximize profits and streamline budgets. Those who find success in this line of work may be able to move into leadership positions where they oversee financial operations or even manage significant investment portfolios.
 

Marketing and Brand Management

Interested in the marketing and branding side of business? If so, consider leveraging your MBA to pursue a role as a marketing manager, brand manager, or product manager. These professionals use their knowledge of market research, strategic communication, and brand positioning to help companies succeed and scale. With the right experience and skills, these professionals may even work their way into coveted roles such as chief marketing officer (CMO).
 

Operations and Supply Chain Management

MBA graduates in the operations and supply chain management field may find themselves well-suited for roles as operations managers, supply chain analysts, and logistics coordinators. They use their knowledge of process optimization, logistics, and inventory management to perform their jobs and, with enough experience under their belts, may even move into director-level positions in operations or supply chain management.
 

Healthcare Management

Some MBA graduates may find themselves in the healthcare field, working in such roles as hospital administrator, healthcare consultant, or pharmaceutical project manager. Professionals in these positions must have not just business acumen but also a thorough knowledge of healthcare systems, regulatory environments, and patient care services management. Over time, MBA graduates in healthcare management roles may work their way up to leadership roles in healthcare organizations, overseeing multiple departments or entire facilities.
 

The Role of a Full-Time MBA Program in Career Development

Enrolling in a master’s degree in business administration can be a great way to build the foundational business knowledge required to thrive in the business world while exploring all kinds of unique learning and mentorship opportunities.
 

Building a Strong Foundation of Business Knowledge

The right MBA program will offer a comprehensive curriculum that covers the foundational knowledge you need to succeed in the dynamic business world, including coursework on finance, accounting, marketing, and operations. This type of program may also include a capstone project that allows you to gain practical experience applying theoretical knowledge to real-world business problems.
 

Experiential Learning Opportunities

A quality MBA program will also offer opportunities for internships and co-ops, which provide valuable hands-on experience in your chosen industry or field of study. Likewise, consulting projects give students the opportunity to engage with companies as a means of solving real business challenges.
 

Networking and Mentorship

Finally, an MBA program will connect students with alumni across various industries, offering students the guidance and potential job opportunities they’re looking for through a robust alumni network. Additionally, some schools may offer career services that include support with resume-building, job placement, and interview preparation.
 

Carlson School of Management’s Full-Time MBA Program

At the University of Minnesota’s Carlson School of Management, we’re proud to offer a Full-time MBA Program that’s designed to be completed in as little as two years on our beautiful campus.
 

Unique Features of Carlson’s Full-Time MBA Program

Many features set our Full-time MBA Program apart from others out there, including:

• Enterprise programs – Experiential learning options let students solve business problems for real companies
• Leadership development – Activities and seminars are designed to enhance leadership and managerial abilities
• Global enrichment – The program offers opportunities for international study and exposure to global business trends
• Strong career placement – High employment rates post-graduation in diverse industries mean that over the past three years, an average of 91% of our graduates receive a job offer within three months of graduation
• Career coaching – Personalized advising and resources help students identify and achieve their career goals
   

Deciding If an MBA is Right for You? UMN is Here to Help!

For career-focused individuals ready to make a difference in the business world, earning a master’s degree in business administration can be an excellent catalyst. If you have not decided whether an MBA or another graduate degree program is right for you, our graduate admissions counseling team at the University of Minnesota’s Carlson School of Management is here to help.

Get in touch to learn more about our Full-Time MBA Program. Or, if you’re ready to embark on your journey to an MBA, get started with your online application for admission today.