2009 is a very volatile year in the world of finance and real estate. Many MBA students and recent grads originally went to their Masters of Business Administration Programs with the goal of working in some of the traditional high paying finance jobs such as investment banking, trading, consulting and management. But with the economic crisis in full swing and a dearth of ‘traditional' jobs what is a recent MBA to do? Here are some ‘alternative' ideas where you can put your MBA to work.
The Government
The prevailing view of many is that the ‘power' of the finance world has moved south from New York to Washington DC. With the various stimulus and financial bailout programs being paid for and orchestrated by the government, many MBA's are finding positions working for the federal government in various capacities. While not offering the lucrative high salaries of the private sector jobs of yesterday, you get something perhaps just as valuable: Job security. In addition, you get a number of perks and benefits that many overlook that add up to some real value.
For instance, federal employees receive 13 sick days a year as well as 13, 20 or 26 days vacation depending on length of employment. They also qualify for the Federal Employees Retirement System, the Thrift Savings Plan (similar to a 401k) as well as the Federal Employees Health Benefits Program. There's also life insurance and of course social security and medicare.
Go Green
There's more to life than just the all mighty dollar. For those with an interest in helping mother earth a job for an environmentally friendly company in business development or management can be an interesting alternative career path. With the political winds in Washington pushing everything ‘green' and offering incentives for companies and investors that put their money into projects and businesses that specialize in environmental related businesses, this is one of the few fields that is actually growing even during the recession.
There are various different certifications that one can obtain in addition to the MBA that can ‘tailor' your degree to make you a valued ‘green' employee. For instance, those interested in real estate can obtain the LEED (Leadership in Energy and Environmental Design) certification. This enables you to pitch yourself to those real estate related funds, builders and managers that specialize in ‘green' properties.
Do Your ‘Start up'
They say that ‘necessity is the mother of invention' and it is widely known that some of the most original ideas and successful entrepreneurial ventures spring up in times when the brightest minds put their efforts into pursuing their own ideas and inspirations. If you have a passion or can pursue a unique and unorthodox idea this is the time to do so.
While you might have wanted to do the ‘safe' thing and work on Wall Street in a traditional job, once you start working for yourself you might enjoy the challenge and freedom and never want to go back. It is virtually guaranteed that years from now when we look back, these economic hard times will have been the catalyst of some of the most ingenious and successful future companies…you might create one of them, but only if you go for it. For a large selection of great articles about the MBA and MBA careers please visit www.TopTenMBA.com.
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