Business Careers that Require a Graduate Degree

Business Careers--Master's in Business Administration Degree (MBA)

Moving from a Psychology degree to an MBA

An MBA is a Master's in Business Administration, an advanced degree that gives an individual specific credentials to be a leader of organizations in both the public and private sectors. In an MBA program you will broaden your skills in areas like management, critical thinking, leadership, communication, and problem-solving. Many schools offer concentrations in popular areas of business administration to help students strengthen specialized career skills. Traditional MBA specializations include finance, marketing, accounting, and international business, with additional options emerging in information technology management, healthcare leadership, and entrepreneurship. In addition, you can specialize your MBA in various areas (e.g., health care, sports management). One major advantage to getting an MBA is that it allows to you network with others in the business community.

To be admitted to an MBA program will need to have a Bachelor's degree (of course, your degree in psychology will suffice) and you will be requred to have taken specific courses (e.g., Economics). It usually requires 2 years of graduate school to complete an MBA program (often including an internship), although there are accelerated 1-year programs. Typically, tuition is paid by the student. An MBA offers greater job opportunities and greater salary than a Bachelor’s degree. It should be noted that an MBA is not limited to the business world, but can be beneficial for those seeking a degree in other areas (e.g., government). It is important to note that many MBA programs would like you to have some work experience before applying. 

Salary Information

payscale.com lists the average yearly income for an MBA at $85,000.

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Click here to read about obtaining an MBA with a liberal arts degree. To learn more about applying to an MBA program check out the following from the Economist:

Application Do's and Don'ts

How to Apply to Business School

Click here to read important steps for a career in Business with an MBA or PhD..

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Click on the links below to read about other Business careers that only require a Bachelor's Degree in Psychology:

Business Careers--Advertising

Business Careers--Human Resource Management

Business Careers--Sales

Click on the links below to read about another Business career that requires a graduatedegree:

Business Careers--Doctoral Degree

Business Careers--Doctoral Degree

Your Psychology degree can lead to a career in Business with a PhD

One way you can use your psychology degree to move forward in your career is to consider getting a PhD in a business field. This degree is a research degree, and may be in Accounting, Economics, Finance, Human development in organizational settings, Information systems, Leadership and organizational change, Operations research, and Organizational systems. If you decide to move in this direction you will have to be sure you have taken certain Business courses (e.g., Economics) that are required by Business schools. If accepted, you must first earn a Master's degree, either from another school or the same school. When you go for a PhD, you need to keep in mind: (a) the  program of study typically requires 4-6 years of graduate school to complete a thesis (research project), (b) at many schools you do NOT pay tuition, and (c) at most schools you will receive a stipend, a form of salary for serving as a Teaching Assistant (TA) or Research Assistant (RA). In general, a PhD offers greater career opportunities and greater salary than a Bachelor’s or Master’s degree. For example, you can use your PhD to pursue jobs with a company, organization, college, or university.

Salary Information

highedjobs.com lists the average yearly income for a PhD. in Business in an entry-level university position at $110,000.

Click here to see career salary information for ALL careers listed in scoutiescareersinpsychology.org.

Click here to read important steps for a career in Business with an MBA or PhD. Other links on scoutiescareersinpsychology.org:

Click here to return to the homepage of scoutiescareersinpsychology.org

Click here to return to the Careers by Category page.

Click here to return to the Business Careers page.

Click on the links below to read about other Business careers that only require a Bachelor's Degree in Psychology:

Business Careers--Advertising

Business Careers--Human Resource Management

Business Careers--Sales

Click on the links below to read about another Business career that requires a graduatedegree:

Business Careers--Master's in Business Administration (MBA) Degree