Whether you are looking at improving your own skills to climb the career ladder, to improve your skills to build your own empire or if you want to know what to look for when hiring employees, then look no further. With so many degrees out there at the moment, knowing which degrees matter most and which ones you should look for when hiring employees matters. A business master’s degree can help in gaining knowledge within accounting, healthcare, finance and business analytics. It has been found that hiring a business school graduate can create more value for a company. Here are four of the most sought-after business master’s degrees and what skills you can gain from each.
Many businesses need data analytics experts to help them find trends within their business, find what is working well, what isn’t and what they can improve. To study for a business analytics degree, especially at master’s level, you need to be very good with technology and understand math to a high standard. Some of the most popular analytics tools you may come across include (Tableau, SQL and SAS) as well as programming languages such as R and Java. Those who complete this degree will have a strong knowledge in analytics within data and can help in financial, marketing and data science.
The business analytics market is ever growing as we understand just how important it is and how it can increase sales and revenue. Reuters have predicted by 2022 the industry will reach a whopping $71 billion. A business analytics marketing professional will excel in business, with their technical aptitude alongside a strategic way of thinking.
An MHA (Master of Healthcare Administration) helps those who wish to work in a healthcare organization or in a government field related to this. Those who study for a master’s in healthcare administration will understand the key issues that are around in healthcare at the moment and the challenges faced such as finances. For those who want to make a difference in the healthcare field, this is the way to do so.
If you own a healthcare business, you want employees that are trained in making the best out of your business and who can spot the areas for improvement and come up with solutions. Patients should always be at the forefront of your care and healthcare administrators can ensure this happens whilst practical solutions are put in place to improve facilities. If you are looking into owning your own healthcare business then you may want to study this course for yourself, as it can help with a number of things when starting your own healthcare business.
Anyone that owns a business needs to understand finance. Whether you want to study this degree yourself or find someone who has, it will come in handy during setting up your business and keeping it afloat. A Master of Science in Finance ensures that students come out with a vast knowledge of corporate finance, investment management, financial planning and analysis. If you need a financial manager and planner or want to be one yourself, this course will make you an expert in all things finance. When starting a business, not knowing the first thing about finance can be disastrous and after this course you will be a finance expert.
With a master’s in finance you can work in risk management, investment or corporate finance, working as an FRM, CFA or a mutual fund manager. This degree can bring your wage up a lot too, with the average salary of a manager sitting at $125,000 a year!
Again, when starting your own business, understanding accounting or hiring an accounting expert will ensure all your money stays safe and you don’t make some of the most common accounting mistakes. Many people with this degree go on to work as CMA’s or CPA’s as they understand accounting to a high level and can apply concepts to any industry they work for. A Master’s of Science in Accounting teaches you everything from financial forecasting and analysis to capital budgeting. You can also choose to concentrate on data intelligence or forensic accounting.
To work as a CPA or a CMA, you need to undergo rigorous testing and this course can prepare you for this. Many people do not get where they are today in the accounting world without a master’s, so studying as soon as you can means you can begin to climb the career ladder and earn a better salary. Accounting salaries start high and many businesses offer bonuses to accounting experts who can help them earn more money.
Studying for a Business Master’s Degree
If you want to study for a business master’s degree in any of the above subjects, you need to have an undergraduate degree that reflects this. For example, to earn a Master of Science in accounting, you should have previously studied a business or accounting degree. One of the best reasons to choose one of these degrees now is the fact you can study completely online. Online universities have become increasingly popular due to the ability to work around your busy home and work life and still further your career.
If you are starting your own business, traveling to and from university is not ideal but many people find studying a master’s degree in accounting or another subject helps them massively during their start-up and for years to come. If you have your own business and want to improve your employee’s knowledge, you could also suggest a master’s to them. This shows them that you care about their skills and knowledge and will support them to be the best they can be. Whatever reason you choose to look for a business master’s degree, ensure you find a university that can work around you and has a good reputation.
Above are the most sought-after business master’s degrees now, each looking at improving specific skill sets in business. Gaining a master’s in business can aid you in improving your business, finding the best employees or climbing the career ladder.