The MBA degree is regarded as a terminal and professional Masters degree in business administration. Commonly abbreviated as M.B.A., the Master's degree in business administration is an internationally recognized business graduate degree.
Many students pursue an MBA to fine tune their skills in preparation for today’s competitive business environment.
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.
Masters in Business Administration programs cover a wide range of business fields, such as marketing, finance, accounting, business management and more.
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The first step in earning a MBA degree is to earn a bachelor's 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.
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.
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.
According to Bureau of Labor Statistics, 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."
Some common jobs available for those awarded with an MBA:
Program | Degree Awarded | Type |
Business Administration | M.B.A. | Accelerated, No GMAT Required |
Strategic Management | M.B.A. | Online |
Entrepreneurship and Family Enterprise Specialization | M.B.A | Online |
Non Profit Leadership & Management | M.B.A | Online |
Project Management | M.B.A | Online, Campus |
Since not all students can participate in a two-year full-time MBA, business schools have adapted.
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.
Many MBA programs focus on a specific concentration. 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.
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Southern New Hampshire University
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 to 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.
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.
MBA degrees 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.
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.
If you are interested in earning your MBA, here are some skills that may be useful:
You may also find MBA degrees that don't require a GMAT, MBA programs that accept low GPA's, and accelerated MBA programs!
Looking for an MBA Scholarship? Submit an essay with 250 words or less in response to our prompt question about why you want to earn a Masters in Business Administration and enter to win!
Expert Insight
We asked Honor Society 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.
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College of William and Mary
University of Northern Virginia
University of Richmond
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University of Mary Washington
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Longwood University
University of Virginia
Radford University
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Marymount University
Lynchburg College
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Hampton University
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Virginia Polytechnic Institute and State University
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Argosy University
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George Mason University
IGlobal University
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