This course typically lasts two years and includes advanced leadership or cross-cultural management modules. An MBA, short for Master of Business Administration, is an academic degree awarded to students who have completed a one-year in-depth graduate course in business administration.
An MBA aims to equip students with the skills and knowledge necessary to manage businesses successfully. Graduates from programs worldwide will therefore be qualified for various roles and industries. The content of an MBA is, therefore, totally dependent upon its core purpose. This could range from a broad understanding of management theory to undertaking specialist research projects within a specific field.
Recruitment consultants who wish to attract and keep the most talented candidates will be pleased to hear that an MBA is not just a prestigious academic qualification. According to a recent report by the Economist, it is now the most desirable graduate qualification in management. The Economist’s survey asked 3,000 senior business leaders worldwide, “Which three graduate qualifications are the most impressive in terms of future career prospects?” and MBA was one of the top three (alongside law degrees and physics research degrees).
As more and more top businesses seek to hire MBAs, the competition for places at top business schools will only continue to rise. A recent report by the Economist magazine claims that over half of recruiters at leading companies in America and Britain stated that a business degree was the most important qualification they looked for in applicants. Therefore, aspiring consultants may now need an MBA just to stand out from the crowd!
MBA vs BSc/BEng
The number of business graduates with an MBA has reached its highest level despite the economic downturn. In 2008, over 150,000 people in the UK graduated with a business-related degree, predicted to rise faster than in any other field. The reason for this growth is not entirely clear.
Many students will choose an MBA as a stepping stone towards a PhD or another type of postgraduate course. After gaining an MBA, students may choose to continue their studies in several ways. Most MBA courses offer the option for students to specialize in a particular field or topic. This may give students the necessary skills and qualifications to undertake a PhD or similar course in their chosen study area.
In addition to gaining knowledge and understanding, an MBA will equip you with the essential business skills required to succeed in your chosen career path. Although the exact skills you will learn will depend on your course, common skills taught in an MBA include:
· Management techniques
· Accounting and finance
· Business strategy
The minimum requirements to gain entry onto an MBA course vary depending on your chosen institution. However, most MBA courses do require that you have a minimum of a Bachelor’s degree. Some top business schools may further require that candidates have between two and four years of experience in the business world before starting the course.
The duration of an MBA course also varies from institution to institution. Most will last for between one and two years, although some top business schools may require that you stay on longer if you wish to complete the course with a particular specialisation.0
The MBA syllabus will vary dramatically between institutions and courses at the same institution. Some courses will focus primarily on developing theoretical knowledge, and others will seek to provide students with a broader comparative approach by studying several management topics.
Entrepreneurs can also start their online MBA programs. All they need to do is find a degree program affiliated with an accredited university or college. The internet has facilitated a wide range of free courses covering various business management areas. Online students can now choose from programs like The Executive MBA Program, which offers special sections for entrepreneurs and self-starters, giving them the necessary skills to go about running their own businesses.
Popular Industries For MBA Graduates
There is a wide range of different industries that MBA graduates will work within. Most top business schools will offer students a choice of elective courses so that they can tailor their studies to match their career goals and expectations. Some of the most popular fields include:
· Management Consultancy
· Banking and Finance
· Entrepreneurship and Small Businesses
· Marketing and Sales Management
Postgraduate Business Administration
The MBA is an undergraduate honors degree in business administration and management. The program is offered by a number of departments and programs within universities throughout the world, as well as being an available program at many business schools.
Students who complete an MBA often work in management or supervisory roles within organizations. The course provides a thorough grounding in business and management practices that can be applied to any area of the commercial world, ranging from local firms to multinational companies.
A MBA graduate can expect to earn a salary between £20,000 and £25,000. It is important to note that the salary you will earn will depend upon the size of the company you work for and the type of role you hold within it. For example, a senior manager who holds a large number of management roles within an organization can expect to earn a higher salary than an accountant who has been employed in the same company for their entire working life.
As one of the most popular business degrees on the market, an MBA is a great way to kick-start your career. It is worth noting that graduates will be highly in demand, either as employees or contractors. That means that students are likely to find it easier to get work once they have finished an MBA in online program program than if they were to opt for another degree, such as an MBA.