For professionals with a Master of Business Administration (MBA), it’s customary to work in the private sector. Opportunities in the C-suite can be both personally fulfilling and lucrative. However, there are also plenty of MBA graduates who choose meaningful work in the nonprofit sector. Nonprofit organizations must be skillfully led and carefully operated in order to further their objectives and MBA graduates are suitably positioned to take the helm.
Qualifications for Nonprofit Sector Opportunities
The skills you’ll learn in an MBA program will translate well to the nonprofit sector. These entities are in need of strong, insightful leadership and expert financial management. While an MBA degree is one common pathway to a meaningful career, another possibility you might want to consider is the MPA. The Master in Public Administration is similar to an MBA program but with a greater focus on policy analysis and implementation. It’s ideal for professional learners who are leaning toward the nonprofit sector.
Hiring Considerations in the Nonprofit Sector
Many MBA graduates prefer to look for opportunities in private corporations because of the lucrative compensation packages available there. While many nonprofits aren’t able to compete with businesses with regards to salary, there are other perks to taking a job at a charitable organization. It’s usually easier for a recent MBA or MPA graduate to obtain a high-level job at a nonprofit, whereas at a major corporation, a recent MBA graduate may need to put in many years at the company before making it to the C-suite. In addition, some nonprofits have begun realizing that it’s worth the investment to pay larger salaries to MBA and MPA holders, given the high-level leadership these professionals will bring to the organization.
Benefits of a Career in the Nonprofit Sector
By the time you arrive at the point in your career at which you’re thinking of earning your MBA or MPA, you’ve likely already realized that there are more important things than commanding the highest possible salary. It’s arguably more significant to do work that you genuinely enjoy, particularly if that work also contributes to the good of society. MBA graduates who work in the nonprofit sector are rewarded with immeasurable intangibles, such as the personal satisfaction that comes from knowing one’s work is making a positive difference in the world. Another way that working in the nonprofit sector can be personally fulfilling is the intellectual challenge of the work. In the private sector, the overriding objectives are to make the business as profitable as possible and to ensure its long-term stability. In the nonprofit sector, executives enjoy the intellectual stimulation of finding creative solutions that utilize resources in a way that maximizes the positive impact.
You can prepare to pursue a meaningful career in the nonprofit sector by earning your Master of Public Administration with an Emphasis in Government and Policy at Grand Canyon University. This degree program is ideal for professionals who are considering earning an MBA, but are primarily interested in pursuing opportunities in public entity or nonprofit management and administration. Begin your journey today by clicking on Request Information at the top of the screen.
About Colangelo College of Business
Business Buzz is a blog that features content written by faculty, staff and students from Grand Canyon University’s Colangelo College of Business. In addition to profiles about events, students and faculty on campus, you’ll also find insight and perspective on the ever-changing business discipline and current global business topics. Learn about the modern business landscape, and how business today continues to grow and evolve to meet the needs of organizations and consumers in the 21st century. Check in every week for the latest news from the business community and around GCU.