The lion's share of the new job opportunities can be found  in the private sector of our economy (sometimes referred to as Corporate America).  As our nation has experienced phenomenal stability and growth over the past several years (witness the stock market), our economy has responded with additional employment opportunities.     The national unemployment rate has never been as consistently low as it has over the past five years.  Yes, you could say we're on a roll! 
 
For the new MBA, there are some hot areas of opportunity, careers where the opportunity for initial employment and growth within the field are readily available.  Marketing has historically been a popular concentration for MBA students, and the field offers a number of diverse career options.  The process of getting a company's product            from manufacturing to the ultimate consumer is an increasingly popular area of employment.  Managing the process is called channel management, and because very few companies market directly to their ultimate consumer, the links along the channel can pose some uniquely interesting situations.  As the distribution outlets get larger (Wal-Mart and Sam's Club for example) they become more important to manufacturers and can dictate terms and conditions.  Managing this process has become an area of specialization in which the high demand continues to increase. 
 
Along with our revolution in technology, we have moved from a manufacturing economy to a service economy (you are more likely to encounter some sort of customer service representative than you are a blue-collar employee).  This change in our basic economy has created an additional the need for people to do service marketing.  What do we mean by service marketing?  Selling access to the Internet, express delivery service, telecommunication services, banking, investing and other financial services are all examples of service marketing.   In other words, you are marketing an intangible service versus a tangible product.  The skills required to succeed in this career field are very specialized within the marketing discipline, but opportunities are plentiful. 

Have you heard the expression, the graying of America ?  This is a reference to the average age of the baby boomers (that large group of babies born in the late 40's after the end of World War II).  The concern over this significant faction of our population has created an entire career field.  The technological advances in the development of new drugs, and the medical advances in treatment interventions for various diseases, have made pharmaceutical marketing and sales an area of tremendous growth. 

Consider how many new people Pfizer will need to hire just to get its new product, Viagra, to its clamoring customers. 

Another growing field for MBAs is consulting.  If you have professional work experience before pursuing your MBA and want to continue to work in the area of your experience or something closely related, you may be a prime candidate for a career in consulting.  You don't need any particular area of concentration; but you do need a passion for working in a particular field.  The consulting arms of the Big 6 accounting firms as well as the traditional consulting firms (McKinsey, BCG, etc.) are all experiencing double-digit growth, and employment opportunities are plentiful. 

Additional areas where career opportunities appear to be plentiful include financial services, specialized banking and operations management.  Most companies have some kind of investment portfolio and the careers involved in managing and investing those funds is exciting and rewarding.  As the country moves toward megabanks, the breadth of services they offer becomes more and more specialized. Some areas within the bank may work exclusively with commercial developers to provide construction financing for new ventures, while others work with small business clients to provide factoring services, and still others work to develop new marketing opportunities for expanded credit-card services.  I have always thought about operations as the things that happen behind the scenes.  No matter what the business, operations people are always needed to help produce the desired results.  THE BLACK COLLEGIAN, second semester issue, always publishes a list of the largest employers expected to hire for opportunities in these and other areas. 

The public sector of our economy (the not-for-profit organizations) offer career opportunities as diverse and challenging as those found in the private sector.  The knowledge base and skills set typically acquired through MBA study can be used quite effectively in most organizations within this sector.  In recent years career opportunities for MBAs have been increasing in areas like Foundation Management, Arts Management, Higher Education, Association Management and Community and Economic Development. 

Many of you have determined that quality of life issues, environmental issues, etc. are more important than salary and other compensation.  The importance of doing something with socially redeeming value has moved many of you toward careers in some of these public sector areas.  Often not-for-profit organizations will be smaller than many for-profit organizations, thus offering an MBA the opportunity to use broader skills and obtain diverse and valuable experience because jobs are not as narrowly defined. 

Since the fall of communism and the emergence of Eastern Europe as the new growth sector in the world-wide economy, international career opportunities have experienced tremendous increases.  Look further to other parts of the world for historic events which have created additional opportunities, such as South Africa and the entire African continent, the Pacific Rim, and Western Europe.  Most national companies are now doing business in the international arena and need employees to staff these areas.  Access to international opportunities is predicated on your degree of readiness.  For example, becoming fluent in a second or even third language will be a great start.  An international internship is also great preparation.  Also, you should study the region of the world you're interested in all you can, to make yourself somewhat of an expert.  All of these factors, coupled with your obvious ability as an African American to relate to Second- and Third-World cultures, will help to maximize your career opportunities in the global arena. 

As career opportunities for MBAs increase, so too have the average starting salaries.  Base salaries are often complemented by signing bonuses, liberal relocation packages, interest-free loans, payment of previous year MBA tuition, and many other perks.  Total compensation continues to rise, but you should be most concerned with base salary.  While salaries vary from industry to industry, and also from region to region within the country, typically employers with national recruiting programs offer salaries that fluctuate the least.  As a point of reference, MBA graduates at Clark Atlanta University averaged approximately $65,000 in base salary, and nearly $12,000 in signing bonuses in 1998.  Obviously, you should conduct your own research to determine your worth in your chosen career field. 

The next millennium holds great promise for those prepared for it.  An MBA degree offers a level of preparation sufficient for you to position yourself for a variety of opportunities.  The Graduate Management Admission Council (GMAC) and the National Black MBA Association (NBMBAA) both have web sites on the internet that provide a wealth of information on MBA careers. 
Career opportunities abound for MBAs. Make sure that you take full advantage of the current market.