You’ve decided to pursue an MBA, so now you have to decide which specific program to enroll in. Which MBA course will give you the best education? A business degree from a top school looks great on your resume, but if you choose one that’s too advanced or not challenging enough, it could leave you feeling unprepared for the workplace and disenchanted with your education. Deciding which MBA course to choose isn’t always easy, but following this guide will help you pick the best possible program to prepare you for your future business administration and management career.
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Master of Business Administration
A Master of Business Administration (MBA) degree is designed to prepare students for careers in business management. This program provides students with a broad base of knowledge about the field of business administration. It prepares them to enter graduate school programs focusing on specific study areas. Students who complete this program are prepared to work in any business area, including marketing, finance, human resources, operations, sales, and many others.
Types of MBA Specializations
Many different types of MBAs exist today. Some people specialize in finance, while others focus on marketing. There are even some who choose to go into management consulting. These are just a few examples of what is out there.
The type of specialization you choose should depend on your personal goals. If you want to work in finance, you may want to consider an accounting major. This way, you can get a head start in the field. On the other hand, if you want to work in marketing, you might want to look at a business administration degree.
You will need to complete a bachelor’s degree regardless of your choice. You will also have to take courses in your chosen specialty. After this, you will need to apply to graduate schools where you can continue your education.
Types of MBA Degrees
MBA degrees help students develop skills that can be applied to any career path they choose. There are many different types of MBA programs, each with its own set of requirements, benefits, and costs.
The following list outlines the three primary types of MBA degrees:
• Full-time MBA (FMB)
A full-time MBA program typically takes two years to complete. Students take classes at both night and daytime hours throughout the week. The curriculum includes courses in accounting, finance, marketing, management, organizational behavior, leadership, human resources, information technology, operations, law, and other business topics.
• Part-time MBA (PMB)
A part-time MBA program usually takes 18 months to complete. Students attend classes only at night time hours. This program allows working professionals to continue their careers while earning an MBA degree.
• Executive MBA (EMBA)
An EMBA is similar to a PMB except that it is geared towards executives who want to advance their careers. These programs focus on developing specific skill sets needed in today’s workplace.
The Benefits of an MBA
1. An MBA can help you develop critical thinking and problem-solving skills while allowing you to learn how to manage people and organizations. You may specialize in accounting, finance, marketing, information technology, or other fields.
2. An MBA can provide the tools necessary to succeed in your career. Many employers look favorably upon candidates who have completed an MBA program. They know these individuals possess the analytical skills to make sound decisions and solve problems.
3. An MBA can help build your professional network. When you earn an MBA, you gain access to alumni networks at schools across the country. These networks allow you to connect with professionals from various industries and professions. You can use your connections to find employment opportunities, volunteer positions, internships, and even mentorships.
4. An MBA can give you a competitive edge in today’s job market. According to the Bureau of Labor Statistics, the number of jobs requiring a bachelor’s degree has increased by nearly 20 percent since 2010. In addition, the average salary for those with an MBA was $110,000 in 2015, compared to $85,000 for those without an advanced degree.
5. An MBA can help boost your earning potential. According to the U.S. Department of Labor, the median annual earnings for those with an MBA were $122,000 in 2014, compared to $95,000 for those without.
How do you choose the right program?
When looking at MBA programs, don’t think about whether a school is top-tier or not—it’s your career you’re committing to, and if it feels right, then it probably is. Instead, consider your goals and why you want an MBA. For example, do you plan on staying with your current company after graduation? If so, what kind of training will they provide? Or are you interested in changing industries entirely? In that case, look for schools that offer specialized curriculums; say you want to work in tech but don’t have any experience with coding—then look for schools that teach these skills. The more specific your requirements are, the easier it will be to find a program that fits them perfectly.
Do you need an MBA degree at all?
An MBA may be right for you if you aspire to be a business leader, but it isn’t necessarily right for everyone. Like any degree, an MBA offers students opportunities but doesn’t guarantee success. If you want to pursue an MBA and are curious about which one best suits your professional and personal goals, here are some questions to ask yourself: What do I want from my career? Do I have some idea of what industries or sectors interest me most?
Is it worth it, economically speaking?
A four-year business degree will set you back at least $100,000. The unfortunate reality is that many of those students cannot land high-paying jobs after graduation. A 2010 study by Georgetown University’s Center on Education and Workforce found that MBAs only made $82,000 two years after graduation. That’s a hefty price tag if you can’t even make what most people with bachelor’s degrees earn!
How long does it take to get an MBA degree?
It’s hard to say since everyone’s story and career path are different. A full-time MBA usually takes two years of study after undergrad, but there are exceptions—some programs allow you to get an MBA in as little as 12 months by taking courses during summer semesters. There are also accelerated options available. You can finish your degree in less than two years if you’re willing to combine online classes and weekend study sessions.
Conclusion
Choosing which courses to take in an MBA program isn’t easy, but it doesn’t have to be impossible. Think about your strengths and weaknesses, and consider your long-term goals. Weigh what you know against what you don’t. Then ask yourself some questions, dig around online and find out more about each subject area before making a decision.