But in place of these positions, several new roles have emerged that are becoming increasingly in-demand for today's MBAs.
"There is no doubt the world of work is changing as AI and machine learning continue to become more prominent,” writes Sheryle Dirks, associate dean for career management at Duke University’s Fuqua School of Business.
Emerging business leaders are not only expected to work well with others, but with complex software systems too.
For MBAs looking to explore challenging career paths with room to grow, the following roles are likely to have an open seat at the table.
Here's five MBA jobs of the future, and the skills you'll need to succeed:
1. Financial App Development
Fintech, or financial technology, is a worldwide movement that encompasses...
Heather Byrne, managing director of the Career Development Office at the University of Michigan’s Ross School of Business, is witnessing this transformation first-hand.
“Tech and fintech will likely continue to be where we see newer roles appearing,” says Heather. “For that reason, it’s no surprise to see that more of our graduates are accepting jobs in those fields.
“More than half of the graduating class of 2017 accepted jobs in consulting or tech, and we believe that figure will be the same or slightly higher with the 2018 class.”
New financial apps target millennial populations, so there’s no one better to administrate and reform these technologies than those who understand the generation. This is why recruiters are turning to job candidates with backgrounds in computer science.
Even so, students enrolled in most MBA programs need not fret about eligibility if computer science isn’t in their wheelhouse.
“MBA programs can’t fabricate more computer science candidates, so we’re seeing integration of more elements of technology into the curriculum,” says Jenny Zenner, senior director of technology, entrepreneurship, digital, and consumer careers at the University of Virginia’s Darden School of Business Career Development Center.
2. Blockchain Engineer
A quick job search will produce a generous amount of ads for blockchain engineers. Blockchain is a digital public record of transactions made in bitcoin and other cryptocurrencies—consider blockchain engineering the nitty-gritty work of the decentralized exchange market.
“We’ve seen the largest hiring growth in the technology sector, including software, hardware, and services,” says Jenny. “Anyone joining the field or covering the sector in financial or consulting services needs an understanding of the products those companies provide, so candidates who are adept in technology architectures are in demand.”
Business schools are starting to cater to this demand: innovative MBA programs are creating specializations in the tech architecture field for working professionals. Darden, for example, recently launched its MBA/Master of Science in Data Science and Master of Science in Business Analytics degree.
From Jenny’s point of view, taking the time to develop these skills is a safe investment for the future: “In a world increasingly awash in data, the demand for skills to manipulate large data sets shows no sign of abating,” she says.
3. Healthcare Information Tech Consultant
If apps are meant to optimize human efficiency through AI, health can’t be excluded from the equation. According to Modern Healthcare, fitness monitoring apps could soon become one of the highest-grossing mobile health apps available.
“We anticipate more MBAs will look at roles at the intersection of health and technology as organizations learn to use data that informs better practices, patient outcomes and larger population health issues,” writes Sheryle from Duke.
4. HR Software Consultant
Forbes may have said it best: 'The 14-plus billion marketplace for HR software and platforms is reinventing itself'.
Modern HR Consultants are now using software to sustain a 'people-first' culture at competitive corporations, which requires dedicated training in HR systems.
Building a supportive work environment for employees has also become more important than ever as companies are increasingly tech-focused and everyday tasks require less human interaction.
5. CEO of a Venture Capital Firm
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The popularity of venture capital firms isn’t exactly new, but MBA programs have found that it is still a promising field for graduates in these changing times.
Those looking to institute a start-up company in this sector should first invest in interpersonal skills: Heather Byrne at Michigan Ross notes that qualifications for business leaders don’t tend to fluctuate as fast as the markets.
“Instead of thinking about specific roles, I think it’s best to think about the common elements of being successful. These are traits that haven’t really changed over time,” she says.
"Whether you were working during the industrial revolution or in the tech boom, you need to be easy to work with, trustworthy, add value to an organization, and get things done.”
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