Many people have heard of the term “MBA” but aren’t quite sure what this means. Are MBA degrees really a requirement to land the best corporate jobs? Can you earn an MBA while in college, or do you have to re-enroll in another program? Below are some of the most common questions and answers about MBA degrees. Use this as a guide to help you decide whether or not an MBA degree program is right for you.
What is an MBA?
An MBA is also known as a Master’s in business administration. Before obtaining your MBA, you must obtain your bachelor’s degree in any field of your choosing. While some colleges will have prerequisites to enroll in an MBA program, some colleges might have no prerequisites besides the entrance exam for the MBA known as the GMAT. GMAT scores are submitted 4 times more than GRE scores, and are considered standard for many MBA programs.
How Do I Enroll For an MBA?
It’s a good idea to figure out which type of MBA you want to earn. You can study and become an expert in many specialties during your MBA program. Some of the best concentrations for an MBA include:
- Data analytics can help you stand out among the competition and become a valuable member of any company by gaining the skills to research sensitive data and develop financial and other marketing plans based on data. Research analysts have great job prospects also, with a projected growth of 23% from 2021 to 2031.
- Finance can help you create and balance budgets for some of the world’s largest and most successful companies.
- Digital Marketing currently has an estimated market value of $460 billion and is expected to grow more and more.
- Human Resources Management can help you learn how to give employees their benefits, handle a team of outstanding workers, and improve your company’s morale and work productivity.
These are just some of the many concentrations you can study in college. After you choose a concentration, start enrolling in colleges and checking for any prerequisite courses such as economics or sociology. After you find the college with your desired program, you may submit an application for their MBA program along with your GMAT test scores.
Applying for an MBA program is relatively straightforward. Talk with a college counselor about specific information regarding the transfer of classes, test scores, and previous grades. Once you submit your transcripts, GMAT scores, and any references, wait for your program to reach out to you with a reply.
Most colleges will also want students with at least five years of working experience before applying for an MBA program. Consider asking your work colleagues for letters of recommendation to your school.
Can I Do an MBA Online?
You can finish an MBA program both in-person and online. Many accredited colleges and institutions, such as the UIC online MBA program, offer online MBA degrees online. This is just one of many colleges that can easily offer you the opportunity to achieve your degree online and in little time.
Do MBA Students Earn More?
MBA students earn more than those without an MBA, earning $115,000 a year in salary, while bachelor’s degree holders earn an average of $65,000 a year. Many MBA students understand that their degrees are an investment for future additional income. Consider the benefits of paying for your MBA now and reaping the benefits in higher income later on.
Gain the Skills You Need to Stand Out With an MBA
Enrolling in an MBA program might be the best decision you’ll ever make for your career. Consider finding a high-quality MBA program that has a good support system, offers flexible education such as online classes, and provides a concentration that you are passionate about and want to work in later in your career. Your MBA is a valuable asset that can help you stand out among other candidates and land the job of your dreams.