What is an MBA?
What skills does an MBA give you?
An MBA is a Master of Business Administration postgraduate degree awarded to those who have completed an accredited college or university MBA program and who have already achieved a bachelor’s degree or undergraduate degree in another form of discipline usually in business.
The MBA is a prestigious degree for those who wish to attain work in leadership and managerial positions. By studying an MBA program the student becomes versed in how the theory and application within business can be applied in the real world in a variety of different markets and corporations. The MBA courses can comprise of finance, marketing, economics and management as well as a number of elective courses which can allow the student to concentrate on specific areas that they may choose as their field to work in.
In today’s world of management if you want to progress an MBA is almost a certain requirement in order to climb the ladder of business acumen reaching those levels of executive and senior management positions. Once having achieved an MBA the doors can open to many types of employment opportunities in many sectors such as: Global Management, Finance and Accounting, Human Resource Management, Marketing, Operations and Technology Management and Economics.
There are various different types of MBA programs available with expensive tutorial fees so it is important to really know which field in your chosen career that you wish to pursue. Fees will vary depending on where you study but can cost anywhere between $35-$60,000 dollars for a 2 year MBA program, if attending any of the top business schools tuition and fees could set you back over $100,000. Financial aid is available in the form of grants, scholarships, work study programs and MBA loans.
An MBA postgraduate degree usually takes 2 years to complete with an internship and entry requirements to the program may differ from country to country. In the United States a Graduate Management Admission Test (GMAT) must be completed satisfactorily and the student must have knowledge of business terminology with some experience related to business strategies within the community. The course can be attended either full or part time. When attending a full time course the student does not work full time as the curriculum is highly demanding of attention. Usually those attending part time are already employed professionals and work full time during the time while attending classes in the evening. Programs for executives or (EMBA) programs are usually employer sponsored. Those executives who already specialise in a particular sector of business have an opportunity to increase their managerial skills thus allowing them to achieve further goals within their field. For the most part an EMBA program is not open to scholarships and internships are not part of the program.