What Can You Do With an MBA in Wyoming
Wyoming is the state with the smallest population, but it is a leader in state support for education, including business schools. For example, the Wyoming School-University Partnership is an organization that integrates education and career development for residents. Students can study in needed fields like agribusiness at the state or local community college levels, lowering their total cost along the way. In so doing, they qualify for management jobs in the state’s vital agriculture sector.
Wyoming has a high standard of living, and its economy offers rewarding opportunities for masters of business administration (MBA) graduates each year. Wyoming is an ideal setting for those interested in online MBA programs. The leading cities are Cheyenne, Laramie, and Casper and the state has a small population spread over a physically vast territory. Online or distance education is advantageous to students and professionals in remote areas of the sparsely populated state who need to improve their skills and have the chance for networking without disrupting their life or spending all their time driving back and forth to visit a campus. Among the general MBA programs Wyoming offers is the College of America (through Independence University), and traditional schools in the neighboring states of Colorado, Idaho, and Montana that provide several kinds of MBA online.
Why Consider an Online MBA?
Located in Laramie, the University of Wyoming is the main institution of higher learning in the state. In this energy-rich state, the program has a concentration in energy management. The state has a network of smaller community-based colleges, and many graduates attend the University of Wyoming for their bachelor’s degrees and graduate education. These academic programs are available full-time or part-time making them a real asset to those who apply from within the state.
Wyoming is home to a growing energy sector, a well-established agricultural industry, and a growing tourism sector. These businesses need qualified managers, and particularly those that know their industries and the state’s economic relationships here and abroad.
Percentage of Students Enrolled By Distance Education
Typical MBA Concentrations
Concentrations are for your MBA the way your major was for your bachelor’s degree. They include courses that are designed to prepare you for a specific industry or niche position by helping you master the required skills before you end up in charge of people on a construction site or in an office. Some of the various concentrations available across the country include strategic planning, law and legal studies, data analysis, public policy, and more. For specializations in Wyoming, the local industries are featured so that graduates have a chance to master the skills that will give them the greatest edge in the local economy.
The Wyoming state economy is strong industry center for construction, manufacturing, mining, mineral extraction, oil, and gas. Forestry and agriculture are slightly smaller but long-established industries. In the tourism arena; fishing, hunting, and natural attractions dominate the hospitality industry.
- Energy is a major sector of the Wyoming economy. An MBA with a concentration in energy can stand alone or combine with other degrees such as engineering or technology.
- Agribusiness is a large global business for Wyoming, as its agricultural products and natural resources have vast international markets. Agribusiness leaders need to go beyond the organization, management, and supply chain side of agricultural production to understanding international trade and foreign cultures.
- Finance includes accounting, financial analysis, and financial instruments. Corporate internal financing is the vital lifeblood of capital-intensive businesses like metals, mineral extraction, and energy production. On a public-facing basis, this field includes wealth management, investment strategies, and financial counseling.
- Conservation and sustainability involve a business’s social and legal obligations to promote the preservation of natural resources and reduction of waste. Sustainable businesses increase profitability by reducing wastes and the associated economic and social costs of waste and pollution.
- Hospitality management combines a broad knowledge base in business and management with coursework that focuses on tourism, marketing, and hotels and accommodations. Nationally, hospitality maintains a healthy growth rate; in Wyoming, the natural beauty and rare wonders are a constant source of tourism both from the US and internationally.
Accreditation in Wyoming
Accreditation is vital to the value of an MBA. Degrees from accredited schools get acceptance and respect for the quality of education they represent. Institution-wide accreditation in Wyoming comes under the review authority of the regional Higher Learning Commission which reviews schools in the Great Plains, Mid-West, and some states in the Southeast US. In Wyoming, the MBA programs specifically have regional accreditation. This type of accreditation is called program accreditation. The Association for the Advancement of College Schools of Business (the AACSB) is the leading program accreditation agency for MBA programs. The AACSB accredited the University of Wyoming Online MBA.
Alumni from accredited programs will have a leg up in their industry. They are also going to ba able to access federal student aid while they are in school and will have an easier time transferring credit hours if they need to shift their focus. It’s important not to skip the step of checking any school you consider for accreditation.
Career and Job Outlook for MBA Graduates
Top Employers in the State by Number of Employees
|Company||Industry||Headquarters City||Number of Employees|
|Ferellgas||Energy||Big Piney, Wyoming||3,908|
|Univ of Wyoming||Education||Laramie, Wyoming||2,800|
|Natrona Sch. Dist||Education||Casper, Wyoming||2,500|
|Cheyenne Regional Med Ctr||Health||Cheyenne, Wyoming||1,853|
|Powder Ridge Coal||Energy||Wright, Wyoming||1,250|
|Jackson Lake Lodge||Hospitality||Moran, Wyoming||1,000|
Average Degree Salary Ranges Potential
- Earnings with Associates - $42,900
- Earnings with Bachelors - $53,904
- Earnings with MBA - $70,839
Careers for Wyoming MBA Grads
- Manager of Operations
Operations are the day-to-day business of a corporation or other entity. Management of all the organization's parts and interactions requires a strong base in management and organization. While much of the learning is hands-on, on the job training, the MBA prepares graduates to adapt to a wide range of business situations quickly.
- Finance Analyst
The finance field is a growth sector in the Wyoming economy. Financial analysis supports nearly every organizational function. Wyoming has a heavy concentration of oil and gas exploration; the state also has a vigorous mining and mineral extraction industry that includes uranium. These capital-intensive industries require financing expertise and are major employers of MBAs with finance concentrations. The duties range from budgeting to investments and financial market forecasts.
- Marketing Manager
Marketing Management is traditional advertising and far more. Marketing efforts today must extend to the furthest reach of the market, including global markets. Duties include marketing strategies, digital communications, and customer relations systems.
- Human Resources Managers
Human resources management must work to attract and retain top talent. The human resources professional is a key member of the management team, and their role keeps the existing workforce intact, but also creates person power for new projects and lines of business.
- International Business Analysts
These highly trained MBAs manage activities related to exports, imports, and export markets. These include overseeing export transactions, US government compliance, international compliance, and international finance.
- Hospitality Industry Management
An MBA with a concentration in hospitality management prepares graduates to be hospitality industry managers and leaders. Tourism is a growth sector in Wyoming and the demand for highly trained leadership should grow in the years to come.
Best MBA Programs in Wyoming
There is one top rated online MBA program in Wyoming. This program is offered by the University of Wyoming, College of Business. Wyoming residents seeking an MBA have access to national online schools and to the business school in Wyoming.
How to Choose & FAQ's
Choosing an MBA program goes beyond the choice of schools; you should decide how the MBA fits into your short and long-term goals. For some people, the MBA is an end by itself, and it is true that an MBA represents a well-rounded knowledge of business and business management. For most applicants, the MBA is part of a lifelong journey. Some business executives seek to advance in an existing career and the MBA can open doors to upper-level management jobs. Other applicants seek to change professions and enter a new field. Each applicant should consider the MBA in terms of his or her career and educational benchmarks. Essentially, it’s useful to align your educational and career goals.
- Select the Type of Learning Experience
Every MBA program offers a set of courses and options for a focus or concentration. The curriculum includes a design for student participation including class size, faculty to student ratios, and student interaction. For example, some schools organize students into cohorts or other groupings based on the time of admission. Many schools promote teamwork and social engagement while others offer a more individualized approach and high levels of competition. When selecting an MBA program, it is useful to examine the type of learning environment available. While students may be all or mostly online, they still may have opportunities for campus-based work, projects, and hands-on learning opportunities. These differences can shape the student experience, and to the extent that an applicant has a preference, they should consider the MBA program’s learning environment.
- Be Sure the Program Has Accreditation
The education gained through two or more years of online MBA study will no doubt expand the student’s knowledge and understanding of business and management. When reviewed by employers, the question of accreditation is just as important as the curriculum and transcript. Accreditation is the guarantee for reviewers that the quality of the coursework reflected in the student’s experience meets the expected standards for quality education. Programmatic accreditation, as stated above, looks at one program in a university or college system. Programmatic accreditation has wide acceptance and respect in the educational community as well as in the business community. In programs that support licensure, program accreditation ensures reviewers that the student meets the course content required for a professional license.
- Consider All Sources of Financial Aid
The University of Wyoming online MBA is an ideal program for experienced executives and others with full or part-time employment. When considering the costs of an MBA in Wyoming, students should be sure to inquire with their employers about the availability of tuition assistance and other types of student aid. Employers can offer a range of assistance including grants, scholarships, and fellowships. Tuition assistance is a typical form of employer-based assistance. Many large and medium employers offer tuition reimbursement for all or part of an employee’s college or school expenses. Similarly, students should inquire about financial aid with business associations and labor organizations connected to their employment.
- Examine Student Experiences
Many schools conduct surveys among their students, like customer satisfaction procedures in ordinary commercial transactions. These questionnaires often reveal important information about the student experience. Readers should not take this type of information as a prediction of their possible experiences, but rather as a point to learn and ask questions. For example, student comments may express frustration at the availability of key courses; from such comments, some reviewers may glean the importance of careful curriculum planning. Part of the student information reveals the average level of debt incurred by students during the two-plus years of attendance. This may be predictive, and it may guide the search for financial aid and how best to complete the degree in the shortest possible time.
- Look Ahead
Students can get caught up in the immediate matters of the online MBA, such as tuition, scheduling, and arranging a job, business, and family obligations. It is also important to consider the investment of time and effort in the MBA and consider the type of situation it can produce in the future. Many people look ahead perhaps for ten or fifteen years and project the impact of the MBA. If you align the education with a career direction, then you can project the type of work, career options, and locations that it may make available to you. The online MBA degree may take as little as two years for completion; it’s not too early to consider the career implications. Whether you envision advancement in your existing field or entry into a new profession, a look into the future is a helpful way to approach the MBA. For many students, the MBA is a life-changing opportunity.