What Can You Do With an MBA in Nevada
In the past, it may not have seemed like it took much to run a successful business. But in today’s world — with all the new technology, techniques, and programs — most people agree that you need a degree to be able to manage a company, and companies certainly spend a lot of time searching for qualified candidates before they make any offers. This is one of the reasons why getting an advanced degree, like a master’s in business administration (MBA) would be a wise choice for many professionals who want to be leaders. Another reason is, unlike most degrees that limit you to basically one profession, having an MBA can open doors to numerous opportunities in healthcare, accounting, marketing, finance, and more.
Why Consider an Online MBA?
So, perfect, time to get an MBA, right? Well, most people who have reached the point in their career where they both need an MBA to advance and have the experience to get into an MBA program are also working full-time, taking care of families, and/or active in their communities. This used to mean that your only chance of getting an MBA was to find a degree program near you and go to classes in the evenings or over the weekend, but even that seems like a lot, especially if you don’t live near an MBA program.
However, today’s use of technology has made this much easier. If you want to take an MBA, but aren’t near a program, you can choose from practically any program in the country and attend online. Full-time students take their classes after their kids have gone to bed, get their reading done on their lunch break, and listen to lectures on the subway. Part-time students work just on the weekend or a little every day and still get their degree in about three years. This makes the MBA degree more accessible than ever.
Percentage of Students Enrolled By Distance Education
There are thousands of individuals enrolled in MBA programs in Nevada and across the globe. Moreover, these individuals are almost all adults, specifically working professionals attending business school to improve and advance their careers. While these students are less interested in the community or social part of study, they are very interested in online MBA programs that offer website access to each course. They want programs designed for full-time or part-time participation from afar, and many business schools across the country are making sure they have just that. Admission requirements are the same, the academic content offered is still great, and you may even be able to graduate with the same cohort you start with, but you won’t have to lose out on a full day at the office or go to a class after a long day of work. You can study when it makes sense for you.
Typical MBA Concentrations
Concentrations are extra courses that you can take in addition to your curriculum, much like majors. The difference is that they are not required in most colleges, although if you want to get into a specific field, you’ll probably want to check them out. Adding a concentration to your educational plan can be a great benefit to your career as they can open up more opportunities for you while putting you a step ahead of your competition – not to mention it will look great on your resume. Like everything else in life, there are some drawbacks to incorporating concentrations into your plan. For one, it can add more time to your already busy schedule and you may have to pay extra because some require more credits be earned for you to graduate. However, depending on what you are trying to achieve, the benefits usually outweigh the drawbacks when it comes to learning. Specializations across the United States vary but some include international business, online executive MBA, policy management, law and legal studies, and more.
Nevada’s schools also offer a variety, but here are just some of the many concentrations that may be available to you.
The world of finance is a highly profitable industry that goes hand in hand with an MBA. A concentration in finance can help you gain more knowledge in the field of banking, special financial services, and risk management, just to name a few; while preparing you for a respectable career in corporate financing or better yet, a more lucrative position in management.
- Technology or Information Technology
Adding a technology concentration to your MBA plan, can lead to a high-tech career as an IT consultant, a data analyst, or a strategist. It may even land you a job at one of the leading technology firms in Nevada like Microsoft, Google, Apple, Amazon, or another.
Thanks to the internet creating so much competition for businesses and manufacturers throughout the world, marketers are always kept busy. Therefore, taking a concentration that will put you dead center in this field is a great idea, as it can help you to become a professional marketer for a company or a marketing manager at a major corporation in the U.S. or anywhere in the world.
- Operations Management or Supply Chain Management
Due to a recent major increase in complex global business systems, operations and supply chain managers are in huge demand. You can choose this as a concentration and take courses in logistics and other issues pertaining to this career and be headed for a well-esteemed position in this field.
Accreditation in Nevada
There’s a wide array of fine schools in Nevada that are accredited, meaning their health, education, faculty, and safety plans have been evaluated and approved by a higher (usually educational) outside source and meet or exceed regulations and expectations. Although getting accredited is voluntary, every school aims for accreditation because many students won’t attend without it and only schools that are accredited can offer the full array of benefits in terms of federal financial aid to help pay for tuition, approval from the Department of Education, and the best job offers for their graduates.
It’s important to understand the different types of accreditation. There are three types: national, regional, and program accreditation. National accreditation for MBA programs is usually provided by Association to Advance Collegiate Schools of Business(AACSB), the gold-standard in MBA accreditation. Regional accreditation in Nevada is provided by The Northwest Commission on Colleges and Universities (NWCCU). Other various associations may also provide accreditation to schools in the region.
Career and Job Outlook for MBA Graduates
Nevada has a growing economy. You can only imagine how earning an MBA will increase your opportunities. Businesses both large and small are attracted to making a site for themselves in the Silver State, the potential includes increasing growth and economic developments. Hence, the cost of living in Nevada is low and with Las Vegas being the entertainment capital of the world, events attract tourists year round, there are plenty of opportunities for MBA graduates to thrive.
The first industry that comes to mind when considering Nevada's economy is tourism, and specifically gaming or casinos. The casinos in Reno and Las Vegas rake in millions every month. The state also features so many natural wonders that people come to visit every year. On top of that, the state is home to thriving industries such as manufacturing, agriculture, and mining. Thus, the outlook for a Nevada MBA graduate is quite good indeed. Here is a short list of the top employers in Nevada.
Careers and Salaries for MBA Graduates in Nevada
When a businessperson starts their career in Nevada their resume should feature some academic credentials. They can start their careers with an associate degree in business, marketing, management, or accounting, to name a few. A two-year degree will indeed help them land an entry-level position. However, to really get ahead they will need at least a bachelor’s degree in business administration or some related field. Once established in business with a bachelor’s degree, professionals should return for their MBA. As the following chart details, those with an MBA find great financial and personal success in business.
Average Degree Salary Ranges Potential
As Nevada continues to grow economically, so does the employment rate. In case you haven’t noticed, some kind of college degree is now required for most positions worldwide, especially when it comes to professional jobs in the finance industry. Due to the high demand for individuals with an MBA, the pay rate in Nevada is quite lucrative. When it comes to salaries in business and finance in Nevada, Individuals with an MBA top the list, where those with a bachelor’s degree in business administration will get a bit more than individuals with an associate’s degree, but with a master, your salary will increase substantially as it tops them all.
Careers for Nevada MBA Grads
Numerous major corporations in Nevada have some excellent employment opportunities available for those who hold an MBA, including some of the biggest casino resorts. If you land a job at a casino, you may be set for life as almost all of them offer great perks, medical, dental, retirement plans, plenty of room for advancement, and high wages. Additionally, with an MBA you will be open to multiple careers at various organizations that pay well and have great benefits.
Digital Optimization Manager
Annual Salary $75,000 - $85,000
A digital optimization manager reports to the Director or Direct Manager. The holder of this leadership role strategically develops, runs, tests, optimizes, distributes, and promotes engaging content across channels for all digital platforms utilizing analytics, technical data functions, and keen performance metrics to help drive traffic and raise awareness of products, services, and the company they work for. This position typically oversees digital marketing teams and handles the company websites, databases, and other digital content.
Senior Compliance Specialist/Analyst
Annual Salary $62,915 - $87,740
The Senior Compliance Specialist usually reports to the company’s business manager or senior compliance officer. The main job function of the senior compliance analyst is to ensure the business and its employees adhere to all laws, rules, and mandatory regulations. It is the compliance specialist’s responsibility to know the laws, regulation codes, and guidelines and then ensure that the company complies with them by keeping everyone informed and updating company guidelines as necessary to support any changes made.
Annual Salary $120,000 - $140,000
Typically, a controller is the chief accounting officer in charge of managing the accounting department. The general duties of a controller are to maintain the company’s finances, production costs, accounts receivable and payable, tax compliance, budgeting, general ledger, payroll, and all other accounting aspects. This leadership position is also responsible for bookkeeping, risk mitigation, and ensuring the accuracy of financial reports and statements.
Annual Salary $100,000 - $130,000
Like a controller, finance managers handle all the accounting aspects of a business and more. The two work together to ensure that the organization is in good financial health. Financial manager’s general duties may also include strategic planning and development of short or long-term financial goals to raise company profits, analyzing business opportunity markets, negotiating mergers, acquisitions, business expansion, and establishing cutbacks and expenses while continuously working on growth and improvement to ensure financial success.
Annual Salary $140,000 - $160,000
Being a General or Branch Manager requires strong leadership skills and takes a lot of responsibility since you are practically running the company. A General Manager is right under the Regional Manager or Chief Administrative Officer in most cases and their job duties can vary greatly depending on the employer. Nevertheless, the basic functions of a General Manager are to handle all business aspects such as interviewing, hiring and firing employees, training, scheduling work hours and days off, filling in for absent employees, ordering inventory, communicating with customers, budgeting, and more.
Annual Salary $90,000 - $110,000
Accounting managers, sometimes known as Directors of Accounting, manage daily accounting department operations, reconcile bank accounts, prepare financial budgets and balance reports, monitor general ledger, analyze data, handle accounts payable and receivable as well as customer accounts, and other related finance functions. In addition, account managers may be required to assist with sales and support as well.
- Hospitality Executive
Given that this is one of Nevada's largest industries, an MBA will surely be needed to help manage the huge hotels and casinos in Reno or Vegas. In fact, since Reno is considered to have fallen behind Vegas, an MBA with the right vision might be able to help revive that city's once-thriving tourism industry.
- Operations Manager
Those with graduate degrees in business administration are all able to help organize large groups and facilitate the day-to-day workings of any business. A Nevada MBA might join the mining, manufacturing, or even agriculture sector to ensure that it continues to thrive.
- Chief Financial Officer
Financial professionals need to earn an MBA from a top MBA program in order to reach the C-suites. Given that casinos are essentially banks with large sums of cash and very stiff regulations, a CFO must be there to ensure that the organization keeps all of its profits.
- Chief Information Officer
Nevada's firms all rely on technological business solutions to streamline their operations. While high tech workers might opt for a Master of Science in Information Technology, an MBA with a focus on IT will help them rise into management and then to the C-suites.
- Management Consultant
An MBA's management expertise will help them help large and small businesses grow and thrive. This position doesn't necessarily demand an MBA, but those who have that academic credential will surely go farther and receive higher pay. In fact, many MBAs go on to start their own consulting businesses.
Best MBA Programs in Nevada
How to Choose & FAQ's
Choosing a College with an MBA program that fits your needs takes a little bit of effort on your part, but it is every bit worth it since you can rest assured you made the right choice after looking at all your options. There are many different factors to consider that some people don’t even think about, such as how far you will have to travel to the campus and back from home, the cost of tuition, how the finance program works, what your schedule will look like, how long it will take to obtain your MBA, is the college accredited, and more. You can find the answers to all these questions by doing some research online while comparing the programs that interest you. Here are 5 tips to help you out…
- Do some research on the profession you decided on to make sure it’s right for you
This is one of the most important things to do before even considering which college to attend. With so many professional titles, it’s hard to know which one does what. Therefore, do some research online and compare a variety of careers that interest you by salary, job duties, job demand, and competition. You don’t want to spend several years in college only to graduate and find the jobs that were high in demand are being filled before you even have a chance to apply– because they want people with experience. You can check the job listings on Indeed or Monster for valuable information. Once you make your final decision, you will have an idea of the classes required to achieve your goal.
- Check and compare tuition, fees, and financing options for your MBA and any other additional courses you need
Generally, colleges and courses can differ in many ways. For instance, some may have low tuition fees, but complex financing options, and vice-versa… others may have easy financing yet high tuition. In addition, make sure there won’t be any extra fees that you are expected to pay later. If you plan on living on campus, find out what living accommodations cost, as well as meal plans. Gather all the information you can about the schools and the courses required for your chosen profession before deciding which to attend.
- Look at class schedules to ensure they fit in with your daily routine as well as the length of time it will take to get your MBA
Another good idea is to check each college of interest’s class schedules for the courses you need to take and then compare all of the info you collect with your current daily routine to get everything running smoothly together so your classes won’t interfere with other important things in your life. Moreover, find out how long it will take you to obtain your degree, as schools have different time frames for completing their courses.
- Check online reviews to see what others have to say about the schools on your list
Checking online for reviews about each school of interest is a major must-do. Nowadays most individuals will check reviews before purchasing any product or using services and they are very reliable sources. Try to locate individuals who have attended the specific college you are considering, to see what advice they may offer as well as graduation rates for each school. Additionally, you should also check the BBB or Better Business Bureau for complaints filed against the schools or their faculty. Keep in mind that complaints are always going to be made; how they are handled is what’s important.
- Finally, personally visit the schools you have narrowed your search down to (unless you plan on attending online) and ensure they are accredited
There are times when you can see a photo of something in a catalog or magazine where it looks great, yet it doesn’t appear half as good in person. For this reason, it is always good to go check each school out personally before deciding which to attend. Also, ensure that the school you are looking at is accredited so that you are certain they have the best MBA plans available.