Career Moves: Why A Business Degree Is A Smart Choice For 2017

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So, you’ve just finished high school, what’s your next move?

  1. Should you jump right into the work force?
  2. Would you be better off learning a trade?
  3. Is getting a broad-based degree, like a Bachelors in a business discipline, the right move?; or
  4. Is the better choice going to university to pursue the Arts, Sciences or other areas of study?

As a young student, you have so many choices ahead of you. But there’s also uncertainty around your decisions. So let’s look at some facts about how the Australian workforce is expected to transform in the next decade or so. A smart move would then be to consider all of those facts, and make smart career choices in 2017 that are supported by those facts.

Look to shifting economic trends

According to a report titled Australia’s Job Future[1], by consulting firm PwC Australia, the ranks of the middle-class in regional Asian economies is set to swell from around 500 million people today, to over 3.2 billion by 2030. So what does that mean to you, as you stand here in 2017 and ponder: What’s next for me after high school?

Well, Australia’s economy is shifting too – from a largely commodities one to a service-oriented one. PwC forecasts that as the nation’s and region’s economies evolve, our service industry “…could support a million Australian jobs by 2030, a more than 50 per cent increase from 2013.”

A smart career move in 2017 would therefore be to position yourself NOW, so that you can capitalise on that predicted service industry boom of the future. The best way to do that is to equip yourself with a degree, such as an MBA, and be ready to join the million or so Australians that will be called upon to lead our service industry of the future.

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PwC forecasts that as the nation’s and region’s economies evolve, our service industry “…could support a million Australian jobs by 2030, a more than 50 per cent increase from 2013.”
  • Look for trending skills

In their Employment Outlook to November 2018[2], The Career Industry Council of Australia (CICA) has forecast projected employment through to 2018. Based on the skill levels that are forecast to be in demand by then, the Council sees strong growth in Skill level 1 jobs in the future.

Skill level 1 jobs are expected to grow by over 10%, increasing by over 357,000 openings in 2018 and beyond.

These are jobs that require a bachelors degree or higher. This means that you, as a recent high school graduate today, must endeavour to get those “higher” qualifications, such as a Masters degree in business, in order to position yourself into a rewarding, in-demand future profession.

Make no mistake, your choice for higher education in 2017 will influence your professional success in the future.

  • Look for trending occupations

The same CICA study also took a close look at the occupational groups that will likely be in high demand in the coming future. According to the Council’s projections, it is groups of professionals that are likely to be the most sought after individuals in Australia’s workforce in 2018 and beyond.

The CICA study sees the demand for professional workers growing by 10.5% (by nearly 270,000), while the need for qualified Managers will grow by 8.8% (by approximately 132,000).

Industry professionals, business managers and other knowledge workers are seen as vital to the future Australian economy.

Opting for a broad-based business degree would be a wise choice for those wanting to widen their selection of possible future professions.

Making Dynamic Choices

As you stand in 2017 and look at all the signs of the future, you can’t help but notice that the employment scene will be different – much different – in 3 to 5 years than it is today. The driving force for employment however, will be business activity. Business, whether it is government sponsored or private-sector initiated, is what will create job opportunities in the future.

Making your move today to equip yourself with dynamic educational qualifications, such as a Masters of Business Administration (MBA) degree, will likely be the smartest career move you can make because:

  • MBA grads don’t fit within a ‘box’ – they are trained to fill a broad range of roles that will be needed in the future
  • By exposing yourself to a wide range of subjects, such as Accounting, Human Resources, Finance, Technology and Entrepreneurial studies, you receive a broad-based education, which is exactly what you’ll need to enter tomorrow’s workforce
  • MBAs are equally at home in the private sector, as they in government or not-for-profit enterprises – which makes choices for your future profession much more dynamic

While you plan your next move, remember that a “job” doesn’t necessarily mean that you have to work for someone else – be it an individual, a government department or a company. You could venture to start your own business too, and be your own boss. Studying for an MBA degree in 2017 will be a great asset for you if you decide to join the ranks of thousands of Australian entrepreneurs tomorrow!