Your Ticket to Business Success.
A Master of Business Administration (MBA) program is a business degree available to students who have already earned a Bachelor’s degree. The MBA is a comprehensive business degree that covers a wide range of business areas, such as accounting, human resources, operations management, leadership, and marketing.
Traditional and online MBA programs, and the business schools that administer them, may be accredited by agencies separate from the regional accreditors that examine most traditional and online liberal arts schools. When choosing an accredited MBA program, look for accredited online MBA programs and their traditional counterparts.
In the United States, the three major accrediting bodies are the Association to Advance Collegiate Schools of Business (AACSB), which usually concentrates on research universities; the Association of Collegiate Business Schools and Programs (ACBSP), which accredits both colleges and universities; and the International Assembly for Collegiate Business Education (IACBE), which accredits international schools. Some programs have separate accreditation, such as accredited MBA programs with a concentration in healthcare management, which may be accredited by the Commission on the Accreditation of Healthcare Management Education (CAHME).
Frequently Asked Questions
How do I get into an MBA program? Top online MBA programs, as well as those at traditional schools, can be very competitive. Most programs base your admissions on your undergraduate academic record, scores on the GMAT or GRE test, essays, personal interviews, and work experience. Many MBA programs place particular emphasis on prior work experience. Top MBA programs want to be able to advertise the success of their graduates, and you’re more likely to be successful as a graduate if you’ve already achieved some measure of professional success. Some programs require five or more years of work experience.
How long will it take to earn my MBA? It depends. Like most Masters degrees, an online MBA degree or one earned a traditional school can often be completed in two years if you attend school full-time. However, many MBA programs are geared toward working professionals, and program administrators are particularly aware that working professionals are conscious of time spent. Because of this, some schools offer accelerated MBA programs that offer more intense classes, fewer breaks and a shorter time until graduation. Others offer part-time MBA programs that may take as many as three years to complete.
How many different kinds of MBA’s are there? There are many different options for MBA students. Many schools offer a traditional or online MBA program with an option for different concentrations, such as project management, entrepreneurship, leadership, e-business, marketing, or strategic planning. As much as a third of your studies can be in your specific area of focus.
Other schools offer dual MBA degrees that combine business studies with Masters classes in another topic, or even with JD classes. Some schools offer combined Bachelors degrees in business administration and MBA programs that allow students to earn both a Bachelors and an MBA in four or five years.
Why should I earn an MBA? An MBA can be an extremely valuable degree if you plan to go into business. It will teach you useful business skills that are applicable in a wide range of industries and careers. While a traditional or online MBA can be extremely effective in advancing your career as a company employee, it can also impart valuable knowledge that can help you start your own business and get it off the ground.
How much will I earn with an MBA? It’s tough to say, and there are no guarantees. But the Princeton Review reports that MBA graduates earn about 35% more, on average, than those without the degree. Of course, the amount you make depends on the prestige of the school, your industry and career track, and other factors that are more difficult to control—such as the state of the economy.
An MBA degree can accelerate your business career. When you earn your degree at a traditional or online MBA program, you’ll often be able to focus your studies in an area that’s of specific interest to you. While there are no guarantees, MBA holders do earn significantly more on average than those who don’t have an MBA. And if you’re a working professional, you’re in luck—because many schools have MBA programs tailored to your needs. You can earn your MBA on an accelerated track, earn it part-time, or earn your MBA online and fit your studies around your full-time work schedule. Earning an MBA can be an excellent investment to your career—and entirely doable for full-time employees.
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