What Can You Do With an MBA in Michigan
If you’re ready to earn your MBA, Michigan is an excellent schooling choice. With some of the top colleges in the nation, the state offers many choices for MBA students, both on-campus and online.
Michigan became one of the leaders in online education in 2006 when it was made a mandatory policy for postsecondary (undergraduate) students to take at least one online course as part of their curriculum. This incentivized schools to expand online educational offerings while increasing enrollment, training their faculty, making it easier, and increasing opportunities for students to master the online format.
According to U.S. News and World Report, over 90% of MBA students are already employed full-time when they gain admission and begin to pursue their graduate degrees. The average age for on-campus community enrollment is 27 years old and 33 years old for online students. So, if you’re one of those professionals juggling work, home, and family life while considering earning your MBA, you’re not alone. Here’s a look at MBA programs in Michigan.
Why Consider an Online MBA?
Michigan has long been known as a world leader in the automotive manufacturing industry, which makes it ideal for those who plan to select a specialization in supply chain management, technology management, or industrial systems engineering studies as their MBA concentration. Michigan is also fast becoming a regional leader in info systems and tech management.
For students who live or plan to live in other areas of the country, Michigan still provides excellent options of available schools and offered content. The University of Michigan (UofM) reports that a full two-thirds of their MBA graduates are employed in nearby Chicago, others are based on the East or West Coast, and another 7.5% work outside of the country. That means your Michigan MBA can provide opportunity no matter where in the world you choose to go!
One often-overlooked statistic in MBA employment is healthcare, but nearly every industry in Michigan interacts with this segment of the economy. The healthcare industry in Michigan employs over 900,000 people and an MBA degree will make you eligible for management positions in hundreds of hospitals and other healthcare providers throughout the state.
Percentage of Students Enrolled By Distance Education
Typical MBA Concentrations
Whatever your goals, an MBA can get you there, though you might find your real calling outside the realm of a general MBA. However, many MBA’s are designed to provide students with concentrations that will allow them to center whatever skills they learn on what their future employer will expect and request. Some MBA concentrations include international business, social impact, organizational development, innovation and entrepreneurship, and more. Alumni from these programs are perfectly poised to jump into any office environment and lead staff in their specialty.
- Industrial Systems Engineering
For those with a bachelor’s degree in computer science, engineering, or applied mathematics, this MBA will give you the management expertise and engineering combination required to take your employment to the next step.
- Supply Chain Management
Training to manage the people, technology, organizations, and resources that convert raw materials to finished products. This degree is especially useful in manufacturing and retail corporations.
- Information Systems/Technology Management
For those working in, or with an aptitude for, electronics engineering, information technology management, or computer science this MBA will prepare you for management positions in many fields.
- Business Administration
With a focus on overseeing the marketing, finance, and management of any size business, this degree is especially useful for those wishing to enter healthcare management.
An MBA in finance will allow you to choose between investments or corporate concentrations and give you the knowledge to manage the financial aspects of a corporation.
Accreditation in Michigan
In Michigan, online MBA schools are accredited on either a national or regional level. Typically, for-profit schools are accredited on a national basis while non-profit, degree-focused, and state-operated schools are accredited regionally. Regional accreditation is sometimes considered even more prestigious than national accreditation. The main organization that accredits online schools is the Higher Learning Commission (HLC).
Accreditation by the HLC is important because it ensures eligibility for federal aid. In addition, enrolling in an accredited school means your credits will be transferable and your degree will be recognized by your future employers. An accredited school has met and continues to meet the rigid professional and academic rules set forth by the HLC.
For business colleges, the Association to Advance Collegiate Schools of Business (AACSB) is the gold standard for accreditation. For an MBA, this is the best possible credential you can find. Applicants can skip any school that doesn’t have regional or AACSB accreditation.
Career and Job Outlook for MBA Graduates
While the biggest employers in Michigan are automobile manufacturers, the healthcare industry far outnumbers those manufacturers in terms of employed individuals. Approximately 240,000 are employed in hospitals alone, with 146 separate facilities throughout the state. With a $50 billion overall state industry, the spectrum of healthcare is a wide employment area for MBA degrees in Michigan.
Here are the top five company-specific employers in the state of Michigan:
Top Employers in the State by Number of Employees
|Company||Industry||Headquarters City||Number of Employees|
|State of Michigan||Government||Lansing||44,540|
|FCA US LLC (Fiat)||Automotive||Auburn Hills||34,300|
|University of Michigan||Education||Ann Arbor||33,591|
Careers and Salaries for MBA Graduates in Michigan
The earnings potential for MBA graduates varies widely depending on the concentration, experience, and industry of employment. The range within a concentration can also vary widely; according to the Bureau of Labor Statistics a Chief Executive Officer’s (CEO) earnings can range from $75,525 to $437,467 and a finance manager’s salary can range from $45,639 to $130,517.
That being said, here’s a look at five business concentrations and the average Michigan wage for each by degree level:
Average Degree Salary Ranges Potential
Best Cities in Michigan for MBA Jobs
- Metropolitan Detroit consists of the three counties of Wayne, Macomb, and Oakland and includes Detroit, Dearborn, Auburn Hills, Livonia, Sterling Heights, and Pontiac: all hubs for the automotive industry and major employers of MBA holders.
- Ann Arbor is the home to the University of Michigan, one of the largest employers in the state.
- Grand Canyon University’s Colangelo College of Business
- Lansing is the capital of Michigan and the base for all state employees.
Careers for Michigan MBA Grads
- Chief Executives
Chief Executives are typically the highest paid of all MBA jobs. They oversee a company's business strategy, oversee all employees, and make all major business decisions. A CEO reports only to the company Board of Directors; while the average salary is $184,740 that does not reflect other perks such as bonuses and stock options.
- Sales Managers
Sales Managers in Michigan average $133,370 per year and often earn large performance bonuses as well. A sales manager is usually charged with maintaining and growing a business, researching future clients, and overseeing sales territories and individual sales employees.
- General and Operations Managers
General and Operations Managers direct, plan, and coordinate an organization's operations. They may be charged with planning and managing daily operations and personnel, but the position can be diverse depending on the industry. General and Operations Managers earn an average of $118,320 annually.
- Industrial Production Managers
Industrial Production Managers plan, direct, and coordinate the daily operations of manufacturing plants and similar operations. They earn an average of $114,440 in Michigan, primarily in the automotive industry.
- Engineering Managers
Engineering Managers usually add their MBA to a technical degree and direct architectural or engineering departments in large corporations to create new product lines for the company. The average annual salary of an engineering manager in Michigan is $110,030.
- Computer and Information Systems Managers
Computer and Information Systems Managers earn an average of $107,250 annually as they oversee the IT and computer systems, project future requirements, and ensure repairs are made in a timely manner.
Best MBA Programs in Michigan
If you are looking for the best MBA programs in Michigan, you have a large selection of colleges to choose from. We created a list using our proprietary formula along with data from NCES, BLS and Payscale to create an MBA rankings to help students. Our master of business administration rankings also highlights important information from each MBA college like: retention rate, graduation rate, concentrations offered, cost of tuition and more.
Grand Rapids, MI
Berrien Springs, MI
|Northern Michigan University||Location
How to Choose & FAQ's
Once you’ve decided on an MBA concentration, you’ll be ready to enroll. The process can be overwhelming, so make a plan before you start. Set up a dedicated file or folder on your computer and make a checklist of items you need to know or have before you’re ready to enroll.
A full-time MBA program will typically take one or two years, and a part-time program can take between four and six years. This means you’re about to dedicate a large amount of time to your classes, so it makes sense to cover all the bases before you begin.
- Search for Schools in Your Location
Although you may have decided to utilize the convenience of an online MBA program it’s still a good idea to choose a school within driving distance if at all possible. Having a school you can visit will give you access to the library, seminars, and other events and will also give you access to businesses that have partnerships with that specific school.
If you’ve decided on a concentration, you can use that to narrow your choices. Check the school site to figure out what specific courses required for your degree and make sure they meet your future plans.
- Compare Student Outcome and Employment Data
Once you’ve narrowed your list of choices you can look at their track records. Check the graduation rates against the enrollment rates to make sure there’s a low percentage of dropouts from the program. If a lot of students enroll but don’t complete their MBA it may be a red flag that there isn’t enough student support to enable successful graduation.
Look for post-graduate employment data for the program you’re interested in. Make sure it meets your plans and expectations and look for specific companies that hire a high percentage of grads.
- Estimate the Cost of the Entire Program
Attending college incurs more costs above the basic tuition, so make sure you have a close estimate of total costs. For example, Central Michigan University charges $596 per credit hour but there are other fees involved: service fees, book costs, lab fees, and similar charges. If you decide to live on campus it will cost an additional $5,038 per semester (2018 costs; lowest in state). If you’re living elsewhere, you’ll need to add travel costs and possibly other expenses such as meals and childcare, so look hard at your personal situation and try to cover all the angles.
If you’re attending online you won’t have to worry about travel expenses but you’ll still need to purchase books and other study materials. If you have young children you may also have to utilize a daycare in order to get the needed time to do homework and study.
- Compare the Class Hours with your Schedule
Before you enroll you should look at the specific classes required for your MBA to make sure the courses are at a convenient time and day, such as evening or weekend courses. Make sure they coordinate with your work schedule, and if they don’t check with your employer before you remove the school from your list of choices. Often employers are willing to offer a flexible work schedule for students, so you may have options to consider.
Check the scheduling of future classes and ask the school if this schedule typically remains the same or if it changes on a regular basis. That way you can make tentative plans for the next few semesters of your future.
If you plan to attend online make sure you have the time to meet the course requirements, due dates, and times. If you’re working full-time this may be a problem, so again check with your employer before you enroll.
- Look for Partnerships with Your Employer or other Businesses
Check with your employer and ask if they have a tuition reimbursement program or similar incentives for employee students. Often companies will pay for an employee to return to school under an agreement to work a specific number of years after graduation.
Check your schools of choice for business partnerships. For example, Central Michigan has a program called the CMU strategic business partnership which allows the school to work closely with companies for employee retention, recruitment, and development. Current strategic partners include the federal and state governments, Quicken Loans, and the Michigan Municipal League. A similar partnership may be the key to both your education and your future employment success. Most colleges have these types of business partnerships and you may be able to both pay for your education and guarantee your future at the same time.
In the Detroit Metro area most colleges have agreements with the automotive industry, so if your long-term plans include working for GM or Ford make sure you look at what agreements are in place before you choose a school.