What to Study After Your Business Degree?
Ready to elevate your career? Your business degree will open doors, but further study can unlock even more. It’s time to explore the possibilities.
Further study can:
- Expand your skill set to aim for more senior positions
- Boost earning potential
- Access specialised professions
- Infuse your career with new opportunities and challenging roles
- Provide opportunities for personal growth
You may need more training to achieve your goals. Let’s explore when studying further makes sense.
When Further Study Makes Sense
Mandatory Qualifications for Specific Roles:
While your undergraduate degree is powerful - the best business foundation you could ask for - it can’t cover every specialised role in the job market.
Some jobs in business require further certification (e.g. financial advisors) while others require shifting into specialised industries beyond business (e.g. Law).
Gaining a Competitive Edge:
The best jobs command the best salaries - competition can be fierce. It’s critical to leverage any advantage you can - by studying further.
When the time is right…
Fresh graduates should consider the value of experience. Jumping straight into postgraduate study isn’t always the best choice. There is no substitute for direct engagement in your chosen field.
Experience is valuable because:
- It cultivates the skills you trained at university.
- Experience on top of your undergraduate degree can be enough to land top jobs in industries that put great value on experience.
- Work experience can also help you to get the most out of postgraduate training.
The bottom line:
- Pick the right moment in your career for further study and training.
- Consider whether to delay studies in favour of gaining experience.
- Experience will always add value to any postgraduate training, and it may help clarify what area and skills you want to develop.
Personal Interest:
Studying isn’t always about climbing the corporate ladder. Many pursue postgraduate studies for interest and personal growth. Some may even go on to teach and lecture at university.
If you know you need to study further, then what should you study? Let’s explore some postgraduate options.
Required Study for Certain Roles
Some jobs require specific certifications to be allowed to perform their roles. Industry regulators set these requirements to ensure high standards of competency and accountability.
- Chartered Accountant: A chartered accountant is a member of either the Institute of Chartered Accountants (ICAEW) or the Association of Chartered Certified Accountants (ACCA).
- They need further qualifications like the ACA.
- Some jobs require chartered accountants because of registration requirements. The requirements can vary depending on the employer/industry.
Concrete examples include:
- Insolvency Practitioner: You need ICAEW certification to work as an Insolvency Practitioner handling bankruptcy and company liquidations.
- Registered Auditor: To audit UK public company financial statements, you (or your firm) must register with a supervisory body like ACCA or ICAEW.
- Probate Services Provider: You need ICAEW certification to handle non-contentious probate services, which deal with a deceased person's estate.
- Chartered Tax Advisor: CTA is a top tax specialist qualification in the UK, opening doors to an expanded scope of practice and senior responsibilities. The Chartered Institute of Taxation has more info.
- Chief Actuary (Life)
- Chief Actuary (non-Life without Lloyd’s)
- Chief Actuary (non-Life with Lloyd’s)
- Chief Actuary (Life, Non-Directive)
- With-Profits Actuary
- Lloyd’s Syndicates Scheme Actuary
- CDC Scheme Actuary
- Law (Solicitor/Barrister): To practise law in the UK, a non-law graduate needs to study further. The usual path involves a bridging course like the Graduate Diploma in Law (GDL) - requiring a year of additional study. The GDL leads to either the Legal Practice Course (LPC) for solicitors or Bar Course / Bar Professional Training Course (BPTC) for barristers.
(Note: A new qualification, the Solicitors Qualifying Examination (SQE), is currently in place to replace the Legal Practice Course (LPC) and (GDL) routes to practise. The GDL and LPC remain viable entry points but will phase out by 2032. Check here for more details about the SQE)
- University Lecturer in Business: A Master’s or PhD in a business-related field is likely necessary - ARU London offers a number of postgraduate courses that teach students specialist skills they can apply to teaching or working in business. Additionally, a Postgraduate Certificate in Higher Education (PGCHE) can be advantageous for securing teaching-focused roles.
Studying for Sector Specific Roles
Finance & Banking
- Senior Roles: Senior Financial Analyst, Risk Manager, Investment Banker, Portfolio Manager
- Postgraduate Study Options: An MSc in Finance and Banking, or an MBA with a relevant focus.
- Industry-Specific Details:
To work as a chartered financial analyst in the UK, you need to become a chartered member of the CFA Institute. This requires passing at least level I of the CFA exams. This role typically involves portfolio management, investment analysis, and asset allocation.
Membership with the Chartered Institute for Securities & Investment (CISI) can also add value to roles in different sectors of finance.
NOTE: In the UK, you need to meet specific FCA standards to give professional financial advice. E.g., An FCA-recognised qualification like the Diploma in Regulated Financial Planning will meet the conditions of this requirement.
Real Estate & Property Management
Management & Consultancy
- Senior Roles: Senior Management Consultant, Chief Financial Officer (CFO), Business Director, Senior Business Development Manager
- Postgraduate Study Options: An MBA or a specialised Master’s degree in Management is often pursued.
- Industry-Specific Details:
Chartership with the chartered management institute (CMI) can provide access to the latest industry developments, networking opportunities, and information.
Human Resources
- Senior Roles: Chief People Officer (CPO) / Chief Human Resources Officer (CHRO), Senior Project Manager
- Postgraduate Study Options: MSc in Human Resource Management.
- Industry-Specific Details:
Certifications from the Chartered Institute of Personnel and Development (CIPD) can help land more senior positions in the people’s profession. There are different levels of certification suitable for different needs. Associate options start at NQF-level 5, advanced options begin at NQF-level 7.
For project management, certifications like PRINCE2 or PMP can enhance a project manager's skill set, making them more competitive candidates and better equipped for larger complex projects.
Public Policy & Administration
- Senior Roles: Senior Policy Advisor, Program Director
- Postgraduate Study Options: A Master’s in Public Administration (MPA) or an MBA focussed on public sector enterprise management - NGOs and NPOs.
- Industry-Specific Details:
The public sector is accessible with a general business degree. However, an MPA provides extra opportunities for roles linked to policy formation and strategic planning.
Marketing
- Senior Roles: Senior Marketing Director/Manager, Brand Manager
- Postgraduate Study Options: An MBA with Marketing focus, or a Master’s in Marketing. Advanced digital marketing, data analytics, or brand management courses are valuable.
- Industry-Specific Details: Marketing managers can consider registration with the chartered management institute (CMI).
Entrepreneurship
- Senior Roles: Business Investment Analyst, Founder/CEO, Business (Management) Consultant
- Postgraduate Study Options: An MBA with a focus on entrepreneurship would be tailor-made for those specialising in starting successful business enterprises.
- Industry-Specific Details: Entrepreneurship is a broad category of business activity. Almost any MBA will help develop skills useful to starting a business. Finding a tailored entrepreneurial course would be ideal, but not required.
International Business
- Senior Roles: International Marketing Director, Global Business Development Manager
- Postgraduate Study Options: MSc in International Business or an MBA with a focus in International Business.
- Industry-Specific Details: A focus on international business topics can provide a deeper understanding of global markets, trade laws, and cultural nuances.
Supply Chain & Logistics:
- Senior Roles: Senior Supply Chain Manager, Logistics and Distribution Manager, Procurement Manager
- Postgraduate Study Options: Advanced degrees like a Master’s in Supply Chain Logistics can elevate skills and prospects in the industry.
- Industry-Specific Details: Chartered membership with CILT may also be beneficial. Senior roles usually require extensive experience in a specific industry and relevant advanced qualifications.
Specialised Roles in Other Sectors
- Technology Management: Business graduates keen on tech leadership can consider an MSc in Information Systems or Technology Management. It's not a legal requirement but offers a robust foundation in tech-driven businesses.
- Healthcare Management: Merging business with healthcare leadership often involves a postgraduate degree in Healthcare Management or an MBA with a healthcare specialisation. Not a requirement, but valued for top-tier management positions in healthcare.
- Environmental Sustainability & Business: Ecological impact assessment and advocating sustainable business practices can often benefit from a Master's in Environmental Management or Sustainable Business.
- Arts & Cultural Management: A Master's in Arts Management can extend your skills and knowledge into cultural establishments like theatres or galleries.
Planning for Postgraduate Studies
The key to successful postgraduate study is to know your options and plan accordingly. There are costs involved, and you’ll need to balance your learning, work, and home commitments decisively.
Funding Options
- Graduate trainee schemes: Employer-sponsored education and training is common in sectors keen to upskill their workforce. Sometimes opportunities come with conditions like serving the company for a period post-study.
- Part-time and Distance Learning: Many universities in the UK offer part-time or distance learning postgraduate courses. This lets you earn while you learn - alleviating financial burden.
- Bursaries and Scholarships: Research available bursaries or scholarships. Universities, industry bodies, and charitable organisations often provide funding opportunities.
- Explore Student Loans: Sometimes banks or student financial aid schemes offer loans to help students who qualify. These loans can come with some of the best terms and interest rates. Securing one might be the smart option if you qualify and the terms outperform other options.
Balance Work with Studies
- Flexible Work Arrangements: Discuss the possibility of flexible working hours with your employer. This adjustment can provide the breathing space you need for classes and assignments.
- Effective Time Management: Create a well-structured study schedule. Allocate specific times for reading, assignments, and breaks. Stick to this routine to stay on top of work and study commitments.
- Utilise University Resources: Many institutions offer resources such as study groups, tutoring, and academic counselling. All of these can help you to manage your studies effectively.
Navigating Your Next Steps
Consider your goals when deciding what to study. While some jobs may require advanced education and training, others don’t. Knowing what qualifications you will need to progress in your desired career is a must.
Professionals are busy, so remember to plan for your studies. Don’t forget to investigate funding options like work education programmes, loans, bursaries, and scholarships.
Postgraduate training elevates your career, skills, and value. Maximise those benefits by choosing the right degree for your goals, and then plan for the challenge - everything should line up perfectly.
We wish you the best of success in your future studies!