What is an MBA?

An MBA is one of the most coveted postgraduate degrees today not just for business professionals, but for college graduates in general. Having a master’s degree in business administration is necessary for those who want to gain an advantage in this ultra-tough industry. It is one of several business degrees that provide a huge impact on a professional’s salary and career advancement options.

Being an official Master of Business Administration is also an attractive endeavor for professionals outside the industry because the program touches different fields and sectors. Overall, MBA training is a valuable asset regardless of the career path chosen by college graduates.

GMAT

The Graduate Management Admission Test or GMAT plays a prominent role if you want to obtain an MBA. Although college scores, references and recommendation letters are important application requirements, they won’t mean much if you don’t pass a GMAT. This test is considered the most important qualifying tool in many graduate business schools worldwide.

The computerized exam measures your basic verbal, mathematical and analytical writing skills over a period of three to four hours. Unlike what some people may think, the test does not include specific questions on business management and operations. Even if your first language is not English, it won’t prevent you from getting the maximum score of 800.

MBA DEGREES

MBA is a widely-demanded credential in the business industry partly because of the vast number of degrees included in the program. Without an MBA, your career options become slightly limited. It might be the difference between being an office drone all your life, or a high-ranking CEO in a few years.

Some of the degrees provided by an MBA program are accounting, business management, economics, global management, finance, marketing, e-commerce and entrepreneurship. These courses may be completed after a certain period.

Two-year Program

This particular MBA program is usually completed after two academic years spreading over four semesters. This curriculum is best suited for those who plan to make studying a full-time affair, though some students here already have previous working experience in the business industry.

The Two-year MBA program is an excellent academic opportunity for those who are truly committed in enhancing their craft. However, this course might be very expensive if you are paying from your own pocket. The schedule can also be very grueling for people working on a full-time basis.

Accelerated Program

This program is one of the leading alternatives to a conventional MBA curriculum. It is derived from a typical two-year MBA course, but with more complex subjects and tougher exams. The fast-paced schedule ends in approximately 12 to 18 months, with short vacation breaks in-between.

Since the program has a short timetable, you need to have more than basic knowledge on the subjects you intend to study. If you already have some industry experience, an accelerated MBA program would tremendously benefit your career in the long run.

Part-time Program

Most Part-time MBA classes are held on weekdays after normal working hours. This program allows you to continue your day job without interruption and requires only a few hours at night. Additionally, the course load is very light and manageable even for full-time employees.

The bad news is that part-time programs take about three to five years to complete. In the past, many students became impatient of the long stretch and discontinued the classes as a result. There is also a very small possibility that your credits from this curriculum will not be accepted when you try transferring to a full-time program.

Executive Program

Even managers and executives still have some room to improve and that is where an EMBA steps in. This two-year course is reserved for those who have at least five to 10 years of working experience. An executive MBA program could still bring tremendous growth even if you are already specializing in your field.

EMBA courses cover many topics of major business disciplines. Since the curriculum is very rigorous, you need to put in a lot of effort to survive it. You might even need to ask your boss for some time off to meet some of the school requirements.

Online Program

For those who can’t make it to school, MBA programs are now available Online. Distance learning MBA programs are presented in different formats, such as correspondence courses through mail, pre-recorded video, computer courses and video conference either online or offline. (Learn how to get an online degree)

On the downside, this flexible course offers little interaction with students and career advancement opportunities are somewhat limited. Additionally, the growing popularity of the program has attracted plenty of scam artists. Always check for credentials before signing up.

Dual Program

This unique program combines an MBA with another master’s degree to help students cut costs. It also requires fewer years compared to pursuing the two degrees separately. One of the most popular combinations today is a bachelor’s degree in business administration and an MBA in just four or five years.

The extensive curriculum requires tremendous dedication if you want to finish the dual program in the least amount of time possible. The courses may be shortened, but only in terms of hours and not value.

SCHOOL

Although many firms and corporations deny it, the prestige of your school has a small contribution to the value of your MBA degree. In the United States, because of stiff competition between MBA schools, each is ranked by different organizations and publications. Although other countries have fewer MBA schools than the US, the quality of the education they provide isn’t any less.

Rankings

Rankings shouldn’t be given much importance because there isn’t an official body that regulates it anyway. A number one school in one ranking might just be rated 15th in another. In the end, rankings must only play a small part in your decision when choosing a school.

If you want to stand out from the rest of the crowd, get an MBA. It will help reshape your career and propel you higher within the corporate ladder. (Tips on how to climb the corporate ladder)

* Better be ready when you plunge into this new and exciting chapter of your life, know how to prepare for college and you’ll never go wrong..