What Does an MBA in Business Administration Involve?

Is it worth getting a business administration MBA? What does it involve? In this article we answer these queries by looking at what receiving a MBA in Business Administration involves and how you can expect it to effect your livelihood and overall earnings.

There are quite a few methods of gaining your MBA in Business Administration but the typical way of doing it is a full time, 2 year course. You could do a part time course over a longer period of time or an Accelerated masters degree that is more intense. There are also programs that are made for people who want to work a full time job while gaining the qualification.

So what are the entry criteria? Well it's different for each course but the majority base the admission on the Graduate Management Admission Test (GMAT), work experience, interviews and references. Again it all depends on the university. Some of the top programs require 5 years of professional experience for admission which is a lot to ask for! If you meet the standards then it might be something worth thinking of!

The main part of the programs introduce you to standard and core business practices such as marketing, human resources, accounting and operations management. You can choose to do more broad modules throughout the course or you could select a more specialized area to focus your attention on such as management accounts or finance.

Students frequently focus on more broad topics in the first year to get a feel for what they would be good at, then find more of a focus or expertise in the final year.

The focus could be one of many topics including human resources, finance, international business or entrepreneurship. The student doesn't necessarily need to pick a specialty but it usually means it is easier to find a job if they do.

So how much more money can you make with a masters degree compared to not having an masters degree. Well it obviously depends on lots of factors such as which school you go to, the place you live, the people you know etc but it's been found that masters degree graduates can earn an average of 35% more than graduates with out a masters degree.

That adds up to a reasonable amount of income over your career. It's also likely a person with a MBA would progress through the career ladder sooner. This can mean that you earn more to start with and your earnings grow faster. Doing a MBA can be pretty highly-priced so you should work out if it's worth it for you.

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To find out more about what you could earn with a masters degree in business administration, click here.

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