Maine Masters of Business Administration Degree

The Masters in Business Administration, commonly abbreviated as a M.B.A. or MBA degree is an internationally recognized business graduate degree. MBA programs cover a wide ...

range of business fields, such as marketing, finance, accounting and management. Many students pursue a Master in Business Administration to fine tune their skills in preparation for today’s competitive business environment.

What is a MBA Degree?

The MBA degree is regarded as a terminal and professional Masters degree in business administration. Initial MBA programs rose in the 20th century as a response to industrial development. Companies started to seek science-based approaches to management. Today’s MBA programs teach basic business courses, strategy, and team building. 

Why Earn an MBA?

EXPERT INSIGHT
We asked HonorSociety Executive Director Mike Moradian about the possible benefits of an MBA:

"Aside from the ROI, students who earn their MBA undoubtedly leave with a strong understanding of management and an advanced business acumen."

~Mike Moradian: Executive Director of HonorSociety.org Click to Tweet

How Long Does it Take to Earn a MBA Degree?

The traditional MBA degree is a two-year full time program. In many MBA schools, this means four terms, summer breaks and pre-set holidays. However, there are other formats that either speed up or slow down the time to graduation.

How Many Credits for an MBA Degree?

An MBA degree may consist of about 18 credits of required core business courses and 42 credits of electives for a total of 60 credits. There is are varying credit stacks, however. Programs with fewer credits are likely aimed at students with a Bachelors in Business or prior work history.

How Do I Earn a MBA Degree?

The first step in earning a MBA degree is to earn a bachelors degree from an accredited university. This does not have to be a business degree. Aside from this, university requirements for MBA degree programs vary. Some business schools look for specific qualities in their future students. Others look at level of management experience. Some possible requirements are listed below.

  • Resume and work history
  • Post-graduate full-time work experience, and/or internships
  • Certified copy of your undergraduate degree, transcripts
  • Letters of reference
  • GMAT result and graduate school-specific score
  • Proficiency in English
  • Computer literacy
  • Letter of intent and motivation (personal statement)
  • Interview
MBA Degree

Are you hoping to climb up the corporate ladder? MBA programs typically encourage students to develop the professional skills thought of as critical in today's business environment.

  • Interpersonal communication
  • Complex problem solving
  • Negotiation
  • Critical thinking
  • Logical analysis
  • Systems evaluation

DID YOU KNOW? “Securities, commodities, and financial services sales agents had the biggest wage premium of any of these occupations: workers who had a master’s degree earned a wage that was nearly 90 percent higher than that for workers with a bachelor’s degree. Many of these sales agents earned a master’s degree in business administration (MBA), which may be required for high-level jobs” (BLS)ii

What Are MBA Degree Concentrations?

MBA concentration areas are elective courses that tailor the degree to a student’s interest. Or, it can be used to gain extra skills in one domain. These areas differ from school to school, so it is one way of narrowing down what schools you apply to. Sample concentrations are listed below.

  • Healthcare management
  • Accounting
  • Real Estate
  • Finance

Types of MBAs

Since not all students can participate in a two-year full-time MBA, business schools have adapted.

Accelerated MBA programs are a variation on full-time study which may take about one year to complete. They tend to involve more intense class and examination schedules because material is condensed into one year.

Part time MBA programs are sometimes referred to as "Flexible" MBA programs. Students may have up to six years to complete their degree. Programs generally suit the unique time constraints of on-the-go adults and working students. Courses may be offered in the evenings and/or weekends, depending on the business school.

Hybrid MBA programs offer a blended online learning format; campus requirements plus distance education.

Campus MBA programs: Searching for an MBA program in a specific city, state or country? Earning an MBA degree abroad, especially if you are drawn to international business or finance, might be a great experience. Or search for near-by MBA schools to help build your local network.

Online MBA programs are offered by online business schools and traditional universities alike. These deliver the required curriculum through web-based courses for increased flexibility and convenience.

Dual MBA programs are a combination of two degrees. For instance, the JD/MBA or MBA/Nursing.

What is an Executive Masters in Business Administration?

An Executive Masters in Business Administration (EMBA) degree is an MBA for executives. EMBA programs may be accelerated or more flexible. Some schools offer these programs during the evenings or weekends. 

What Are Potential Benefits of Earning an MBA?

EXPERT INSIGHT
We asked Executive Chef of Wednesdays Jenny Dorsey how earning an MBA helped her in business:

“My MBA truly showed me what "networking" - the effective, powerful kind - means. I learned how to network and prospect new clients, building my two businesses from the ground up. As the saying goes, people will forget all about what you say and do but they will remember how you made them feel.”

~Jenny Dorsey, Co-Founder and Executive Chef of Wednesdays Click to Tweet

FUN FACT: The MBA degree originated in the United States in the early 20th century when the country industrialized and companies sought scientific approaches to management. iii Click To TweetClick to Tweet

About MBA Program Accreditation

MBA degree program accreditation by external agencies offers students and employers an independent perspective of the school or program's quality. In addition, it could speak whether the curriculum meets professional standards. This is an important aspect to consider when choosing an MBA Program. Some examples of the major accrediting bodies in the United States are listed below.

  • Association of MBA’s (AMBA): impartial authority of postgraduate management education for MBA, DBA and Master’s degrees
  • The European Quality Improvement System (EQUIS) is run by the Brussels-based EFMD Management Development Network; EQUIS focuses on institutions that offer undergraduate, graduate, and doctoral business programs, including the MBA
  • Association to Advance Collegiate Schools of Business - AACSB international
  • Accreditation Council for Collegiate Business Schools and Programs –ACBSP
  • International Assembly for Collegiate Business Education- IACBE

What Might I Do With an MBA Degree?

Many MBA graduates chose to pursue a career in business. However some might want to consider earning a Doctor of Business Administration (DBA) degree. As the highest professional practice degree beyond the Master of Business Administration, it may help individuals distinguish themselves from other MBA graduates, or, establish further expertise through research and advanced coursework.

Take the Next Step

Use our on-page navigation to conduct a location search for MBA graduate schools or refine by program format (campus, hybrid, online). There are many sponsored listings for the MBA degree, and each university has its own unique features. Use the ‘request info’ setting to contract prospective schools to learn what these are and which Masters in Business Administration program matches your aspirations.


[i] onetonline.org/link/summary/11-1011.00 |[ii]bls.gov/careeroutlook/2015/article/should-i-get-a-masters-degree.htm#Business |[iii] en.wikipedia.org/wiki/Master_of_Business_Administration

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