NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Wednesday, May 29, 2013

After graduating with a bachelor’s degree in finance a few years ago, Marissa Mahoney started on a career path that many would consider financially rewarding. She worked in investment banking and real estate private equity, but didn’t find the work fulfilling.

“I wanted to use my business skills in a way that made more social impact more directly,” she says. She learned how to do just that as a social enterprise fellow at the Goizueta Business School at Emory University, from which she graduated in May.

Social enterprise is a newer area of business used to address shortcomings in society, such as environmental challenges or education disparities, but often pays less than traditional fields. The lower salary potential could deter students going to business school to make more money.

[Learn about sustainable MBAs.]

Mahoney is happy with her new career. Her new job, at an institute for professionals who want to use business for social change, will let her live comfortably while doing something she enjoys. Unlike most MBA grads, her new degree won’t bump up her salary, but it won’t cause it to drop either.

“It’s actually on par with what I used to make,” she says. And there’s a bonus: “It does provide opportunities for growth.”