Understanding the MBA Degree

An Overview for Beginners

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What Is an MBA Degree?

The MBA (Master of Business Administration) is a postgraduate degree that is awarded to students who have mastered the study of business. This degree option is available to students who have already earned a bachelor's degree. In some cases, students who earn a master's degree return to school to earn an MBA, though this is lesson common. 

The MBA degree is widely believed to be one of the most prestigious and sought after degrees in the world.

Students of MBA programs study the theory and application of business and management principles. This type of study equips students with knowledge that can be applied to a variety of real world business industries and situations.

Types of MBA Degrees

MBA degrees are often split into different categories. For example, there are full-time MBA degree programs (which require full-time study) and part-time MBA programs (which require part-time study). Part-time MBA programs are sometimes known as Evening or Weekend MBA programs because classes are typically held on weekday evening or weekends. Programs like this allow students to continue working while they earn their degree. This type of program is often ideal for students who are receiving tuition reimbursement from an employer

There are also different types of MBA degrees. For example, there is the traditional two-year MBA program. There's also an accelerated MBA program, which takes just one year to complete.

A third option is an executive MBA program, which is designed for current business executives. 

Why Get an MBA?

The main reason to get an MBA degree is to increase your salary potential and advance your career. Because graduates who hold an MBA degree are eligible for jobs that would not be offered to those who hold only a high school diploma, an MBA degree is almost a necessity in today’s business world.

In most cases, an MBA degree is required for executive and senior management positions. There are some companies who will not even consider applicants unless they have an MBA degree. People who hold an MBA degree will find that there are many different types of employment opportunities that are available to them.

What Can You Do With an MBA Degree?

Many MBA programs offer an education in general management along with a more specialized curriculum. Because this type of education is relevant to all industries and sectors, it will be valuable regardless of the career that is chosen after graduation. Read more about jobs for MBA grads

MBA Concentrations

When it comes to the MBA degree, there are many different disciplines that can be pursued and combined. The options shown below are some of the most common MBA concentrations/degrees:

  • Accounting
  • Business Management
  • E-Business/E-Commerce
  • Economics
  • Entrepreneurship
  • Finance
  • Global Management
  • Human Resources Management
  • Information Systems
  • Marketing
  • Operations Management
  • Strategic/Risk Management
  • Technology Management

Where Can You Get an MBA Degree?

Much like a law school or medical school education, the academic content of a business school education does not vary much between programs.

However, experts will tell you that the value of your MBA degree is often directly related to the prestige of the school which grants it.

MBA Rankings

Every year MBA schools receive rankings from various organizations and publications. These ranking are determined by a variety of factors and can be very useful when choosing a business school or MBA program. Here are some of the top-ranked business schools for MBA students:

How Much Does an MBA Degree Cost?

Getting an MBA degree is expensive. In some cases, the cost of an MBA degree is four times as much as the average yearly salary.

Tuition costs will vary depending upon the school and the program that you choose. Luckily, financial aid is available to MBA students. 

Choosing an MBA Program

Nowadays, there are many different types of MBA programs. Before making a decision, you should evaluate each and every one. Learn more about choosing an MBA degree program that’s right for you.