It is increasingly rare to find people spending their entire careers at only one job. The COVID-19 pandemic highlighted this shift, with polls showing roughly 38% of Americans changed jobs during a two-year period between 2020 and 2022. While the job turbulence of this period — known as the Great Resignation — tempered during 2023, changes to the U.S. way of working will remain to a degree, increased hybrid or remote work opportunities being a prime example.
Worker shortages still exist in several sectors. Today’s workers have more options of how, where and in what way they want to work. But with challenging fluctuations in inflation, accordingly high interest rates, low unemployment and the post-pandemic normalization of competitive job markets, working professionals interested in changing careers must consider their options carefully. One important consideration is how to best prepare for a successful career move.
Perhaps one of the best ways to prepare yourself for a career change and gain a competitive edge in the job market is to earn a specialized, online Master of Business Administration (MBA) degree. For instance, an MBA with a Concentration in Finance prepares graduates for lucrative, fast-growing jobs that are in demand across industries and organizational models, offering career flexibility and versatility. Whether you are looking to simply switch roles in your industry or change professions altogether, the coursework involved in a finance MBA program provides the skills you will need.
Switching Roles
Perhaps you have grown tired in your current role, or you feel professionally unfulfilled. Changing jobs can help you get some new perspective on the arc of your career. Figuring out your next transition and how to get there means taking advantage of your particular experience. Research other jobs in your industry that require your background and determine how additional development through specific MBA courses can diversify your skill set.
For example, the pandemic spurred unprecedented levels of burnout and attrition in the nursing workforce. Logically, a working nurse who wants to change jobs but remain in the healthcare field might pursue a career as a healthcare administrator or executive like a hospital chief financial officer (CFO). According to ZipRecruiter data from September 2023, hospital CFOs make an average annual salary of $142,417, a significant income boost as compared to the typical nurse salary.
While nurses understand best practices for treating patients, they may need more leadership and financial management skills to be effective in administrative roles. By using the skills developed in a finance MBA program — like how to implement risk management policy changes or how to research, collect and process data to make informed business decisions — a nurse can combine new knowledge with their existing skillsets to transition successfully from one career to another.
Switching Industries
Alternatively, perhaps you have grown tired of your industry altogether. In this case, you may be starting completely from scratch and will have a lot to learn about your new industry. An online MBA program can offer the opportunities, resources and support you need to learn about unfamiliar industries and what they have in common with industries you do know about.
Furthermore, specialized programs like the Texas A&M University-Corpus Christi (TAMU-CC) online MBA with a Concentration in Finance offer coursework on topics that are highly transferable between industries. Businesses in all sectors rely on professionals with expertise in financial markets, investment practices, risk management and financial planning — core components of finance MBA studies at TAMU-CC.
Studying the versatile applications of financial management practices, as well as financial regulations and nuanced compliance issues, can help you understand the processes, protocols and laws of a specific industry. By learning to think outside the box while still meeting regulations, you can become an innovative, solution-oriented professional in your new industry.
An Online MBA Program to Change Careers
Many people feel stuck in their careers, but they do not have the time or energy to attend a class every night after work, and they likely do not have the money saved to quit their jobs and pursue a new degree. An online MBA in finance program can be the solution. Students access lectures and other material from the comfort of their own homes via computers or mobile devices — and they can do so on their own time. After graduation, MBAs have a better understanding of the larger market economy, and they make more attractive candidates to potential employers.
Learn more about the TAMU-CC online MBA with a Concentration in Finance program.
