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According to data from CareerOneStop, general and operations managers, accountants and auditors, and business operations specialists are all in high demand in New Mexico. Students looking to take advantage of openings in these business professions should strongly consider applying to online MBA programs in New Mexico.
Enrollment in distance education programs continues to grow in New Mexico. From 2012-2015, the number of students taking distance classes in the state increased from 30.9% to 38.8%.
The information below can help you decide if earning an online MBA in New Mexico is the right educational path for you. Read on to learn about possible careers, key business sectors, and major employers in the state. Additionally, this page includes a list of distance MBA programs in New Mexico, which you may use to jumpstart your search for the ideal business school.
Careers and Salaries for MBA Graduates in New Mexico
New Mexico boasts an abundance of natural resources. As a result, mining and logging jobs abound throughout the state. According to the U.S. Bureau of Labor Statistics (BLS), these industries grew more than 10% between April 2018 and April 2019. Other strong industries in New Mexico include construction, which increased 5.3% during this period, and leisure and hospitality, which grew 5.4%.
Other industries related to business administration and management, such as professional and business services, manufacturing, and financial activities, reported little to no growth between April 2018 and April 2019. The BLS also notes that New Mexico's unemployment has decreased by a significant margin in recent years. The statewide unemployment rate stood at 4.9% in September 2019, and it has not exceeded 5.1% since March 2018.
CareerOneStop notes that the largest employer in New Mexico, the University of New Mexico Board of Regents, has 12,000 employees. The second-largest employer in the state, Sandia Corp., specializes in scientific research and development. Other top employers in New Mexico include the University of New Mexico, New Mexico State University, ESPN, and the New Mexico Board of Health. Sixteen of New Mexico's 25 largest employers maintain their headquarters in Albuquerque, the state's largest city.
|Company||Location||Main Industry||Number of Employees|
|University of New Mexico Board of Regents||Albuquerque||Postsecondary Education||12,000|
|Sandia Corp.||Albuquerque||Private Research and Development||8,761|
|Da Vita Medical Group||Albuquerque||Healthcare Management||5,000|
Source: Career One Stop
An online MBA in finance can help students qualify for accounting and/or budgeting positions at these three organizations. Additionally, research and development firms often have inventory and transportation needs and seek candidates with a background in logistics and supply chain management. Other specializations can benefit graduates seeking jobs from other top New Mexico employers. These include sales and marketing specializations for prospective ESPN employees and healthcare administration specializations for those who plan to work for the New Mexico Department of Health.
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Careers for MBA Grads in New Mexico
Logisticians coordinate an organization's supply chain. They oversee the entire lifecycle of a product, including manufacturing, distribution, delivery, and the purchasing of raw materials. Their responsibilities also include keeping track of warehousing and transportation using supply chain management software. Logisticians analyze their organization's supply chain and identify ways to decrease costs.
Projections Central expects job market growth of 12.5% for logisticians in New Mexico from 2016-2026, faster than the national job growth rate. New Mexico's logisticians earn a mean income of $80,400, slightly more than the national mean for the profession.
Financial analysts help companies and independent investors invest their assets appropriately. They analyze the stock market, evaluate specific investments, and recommend investing strategies to clients. Some financial analysts, called buy-side analysts, advise institutions looking to invest large amounts of capital. Others, called sell-side analysts, help sales agents sell investment vehicles such as stocks and bonds.
Projections Central expects that New Mexico's financial analysts will see an 8.5% increase in job opportunities over the next several years. The state's financial analysts enjoy a mean yearly salary of $103,040.
Personal Financial Advisor
Personal financial advisors often benefit from a degree that covers business, finance, accounting, economics, or investments. An MBA or a master's in finance can enable financial advisors to advance to management roles and attract more clients. These professionals help people manage their finances by providing advice on investments, mortgages, savings, estate planning, taxes, and retirement. Some specialize in specific areas of personal finance, while others offer advice on many topics.
Market Research Analyst
Market research analysts conduct research with the aim of helping a company market its goods and services. To this end, they may conduct surveys, analyze market trends, or conduct research on competing organizations. Through their research, market research analysts attempt to determine customer buying habits and the level of demand for certain products. Market research analysts need a strong background in marketing and statistics, which they can acquire through a New Mexico MBA.
Advertising, Promotions, and Marketing Manager
Typically employed by advertising agencies, advertising managers prepare budgets, meet with clients, and oversee employees who develop ideas for advertisements. Promotions managers boost sales through tactics such as in-store displays, events, ads, contests, and coupons, while marketing managers evaluate demand for products and develop strategies to increase sales. Many companies, including those in New Mexico's largest industries, hire advertising, promotions, and marketing personnel to generate interest in their services or products.
Advertising and promotions managers in New Mexico earn a mean salary of $81,210 per year. Projections Central expects that the number of advertising and promotions management jobs will remain stable in the coming years.
MBA Concentrations for New Mexico Students
Depending on the New Mexico online MBA program you choose, you may enjoy the option of focusing your studies in a particular area of business administration. Some common concentration options found in MBA programs include marketing, finance, accounting, international business, and nonprofit management. While you should only choose a concentration that interests you, you may also want to consider a field of study that relates to New Mexico's major industries and employers.
Consider that New Mexico's largest industries by employment include food service, construction, education, healthcare, and finance. Head to this specializations hub to learn more about potential business school specializations.
New Mexico's Online MBA Programs
This section outlines selected online MBA programs in New Mexico. Since business administration degrees all differ slightly in terms of resources, projects, courses, concentrations, and tuition costs, be sure to carefully compare the programs below. With enough research, you may find the perfect distance MBA for you.
All of the programs below are accredited, so they all will provide a high-quality business education. Check out this page to explore more about the benefits of business school accreditation.
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