An MBA degree, which stands for Master of Business Administration, is a graduate degree for those who want to achieve great things in the world of business. This highly-coveted degree has been in existence for over 100 years. Today, schools around the world have MBA programs, and individuals now have a wider range of choices when it comes to how they will study for their MBA. Full-time and online programs, as well as those designed especially for working professionals, are now widely available.
The MBA degree is recognized throughout the world, and those who choose to obtain the degree come from a wide variety of backgrounds. Because of this, those who hold this type of degree are quite diverse in comparison to, for example, those who pursue graduate studies in biology, physics, or English literature.
The degree is considered a very valuable asset by both MBA graduates and employers for several reasons. First, having an MBA implies that the individual possesses a broad knowledge of important business topics. The first year curriculum of most MBA programs covers numerous topics, including accounting, finance, and marketing. Second, many schools also offer students the opportunity to specialize, so graduates will have both knowledge of broad business topics and possess expertise in their specialization.
While there are many other business programs offered by universities, the MBA degree is unrivaled for its ability to develop good general business skills in students. Students find the MBA degree an attractive option because they can pursue a wide range of positions, competitive salaries, and virtually unlimited opportunities for advancement. These are just a few of the rewards that having an MBA degree can provide.
This year many individuals will apply for admission into an MBA program. The decision to obtain an MBA requires a substantial commitment of money and time. However, there are many compelling reasons to pursue an MBA if one wishes to get ahead in the business world.
Travel to many areas of the world, and most people have at least heard of the graduate degree known as the MBA. This makes it much more valuable than many other business degrees. For example, even though a Master's in Commerce may be a prestigious degree in some countries, other locations may not be familiar with the program. Having an MBA, which is recognized almost universally, will increase your ability to compete for jobs in more locations.
One of the major reasons why people choose to pursue an MBA is because it often allows graduates to earn a greater salary. Although the average starting salary for MBA graduates is influenced by the number of years of work experience they have prior to starting their degree, even those with fewer than three years of industry experience reportedly start out earning close to $70,000. This figure rises dramatically as graduates build up more experience. Simply put, an MBA offers an earning potential that is unrivaled by most other degrees.
Even if an MBA graduate has to start out in a position that is somewhat lower on the corporate ladder than they would like, there are tremendous opportunities for advancement with the degree. Those who only possess a bachelor's degree may find they can only go so far in the corporate world, even if their skills and job performance are beyond reproach. With an MBA, the opportunities are virtually endless, and graduates can even assume the role of chief financial officer with good job performance.
Although this advantage may seem obvious, it is not one that should be overlooked. The MBA program will further your business skills, and provide you with a solid foundation of knowledge on which to build. People who complete an MBA graduate with a good understanding of leadership, marketing principals, financial matters, and how to conduct international business. The type of MBA they choose to pursue will influence how much knowledge they will acquire in each of these areas.
Rigorous academics: Anyone who has completed an MBA will tell you it is work. A lot of work. Expect to attend regular classes and complete a large number of assignments and projects. Some MBA programs even require students to attend evening classes. Before deciding to head back to school for an MBA, be sure you are up for the commitment this program will require. Be prepared to devote as much time to study as you would devote to your job.
Diverse colleagues: MBA students are a diverse group of people. Expect to share the MBA experience with people from different undergraduate backgrounds, nationalities, and work histories. In fact, many universities specifically aim to establish a diverse student population. In this way, you will be exposing yourself to many different thoughts and ideas, rather than simply spending your days with people who share the same views.
Teamwork: Many schools are increasingly developing approaches designed specifically to allow students to work collaboratively in groups. At the Wharton School of Business, for example, students are placed in study teams, and spend their first year completing a variety of tasks with their group. Other schools have implemented similar practices. Because business is all about interacting with others and being able to relate to all types of people, encouraging group work and collaboration is an effective way for schools to prepare their students for the world of business.
Networking opportunities: Most MBA students hope to get a great job after graduation, and the people they meet at a university often prove to be very helpful in this respect. Professors, fellow students, and those you interact with during your internship all provide valuable chances to network and meet potential employers.
Valuable learning: This may seem obvious, but it is worthwhile to note that most MBA graduates consider their university experience to be an extremely valuable one. The rigorous instruction and requirements result in students gaining a broad understanding of the business world, and these skills allow graduates not only to secure positions, but also to apply the skills they have learned to advance in the world of business.
The MBA dissertation is a long, written work that can range in length, depending on the academic institution. In general, you should be prepared to write a work that is at least 10,000 words. Some schools in the UK require students to write dissertations that are up to 25,000 words in length.
Last Updated: 08/20/2013