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MBA Programs

For those who want to climb higher on the corporate ladder, a Master of Business Administration (MBA) degree is often a requirement, or at the very least, provides an advantage. For others, an MBA is a means to changing careers. An MBA can be obtained in many different areas depending on the person’s interests and career goals. It is a great way to learn a subject matter in-depth and will also bring the student up-to-date on the changing business world. Aside from all these benefits, those who earn an MBA also have higher salaries on average than their co-workers without an MBA.

Degree Options

Those thinking of pursuing an MBA have many options including various types of programs as well as a large number of MBA concentrations. Some concentrations are traditional while others have been created to address specific industries and current trends in the business world.

The following are the types of programs one may choose from:

Full-time programs - These are traditional MBA programs where students go to school full-time and earn their degree in two years or less. Some programs require that students have worked full-time for a year or more, prior to enrolling.

Part-time programs - Designed for students who will continue working while in school, these programs offer classes in the evenings and sometimes on weekends. Students typically take one or two classes a semester and take from three to six years to earn their degree. Some programs are offered either partially or fully online for added convenience to their working students. Schools that are 100% online are a growing source of flexible, part-time MBA programs.

How to Evaluate MBA Programs

Since there is a wide array of MBA programs available, prospective students should make sure to choose a program that matches their career goals. Some MBA programs are very general and can benefit people with a variety of goals. Other programs are designed for those who have a specific field or career in mind. Additionally, students should look at the following criteria:

Real-world business experience of instructors – Instructors with relevant business experience are more effective since they bring first-hand knowledge rather than just theoretical information.
Course schedules and online classes - For working students, the time of day courses are taught and the availability of online classes is a priority consideration.
Concentrations available – A students interests and career goals should correspond to the concentrations available.
Accreditation – MBA programs should be accredited by the Association to Advance Collegiate Schools of Business or a regional accreditation agency.

Executive programs - These programs are specifically tailored for working professionals who already have management experience or own a business. Most programs offer weeknight and/or weekend classes and have class formats that take into consideration the students’ work experiences.

The types of concentrations can be broken into traditional, industry-specific and those based on current trends. Below is a list of the traditional concentrations in which students can earn an MBA.

Accounting
Finance
Marketing
Management
Information Systems
Human Resources
Operations Management

A sampling of industry concentrations available are listed below.

Health Care Administration
Energy Management
Personal Financial Planning
Non-profit Organizational Management
Transportation Management
Hotel Management

Concentrations based on current business trends are becoming more popular and a few are listed below.

E-Business
Global Management
Marketing Intelligence
Venture Consulting
Insolvency and Restructuring
Business Law

Schools

MBA programs are offered at many types of schools including online schools, state universities, stand-alone business schools as well as at the most prestigious university business schools. The school one chooses to attend will depend on a person’s career goals, financial situation and ability to meet admissions criteria.

Coursework

MBA curriculums vary widely depending on the concentration chosen. Below is a sampling of courses offered in MBA programs:

Managerial Accounting
Critical Analytical Thinking
Ethics in Management
Managerial Finance
Strategic Leadership
Data Analysis and Decision Making
Global Business Issues
Managing Innovation and Change
Health Care Organization and Management
Venture Planning, Management and Growth

Aptitudes and Interests

Those who are best suited to pursuing an MBA tend to be driven, competitive and career-focused. They are natural leaders who have good communication and people skills, and can think strategically.

Career Options

The range of careers that can be pursued by an MBA program graduate is extremely broad. Most MBA students have an idea of what field they want to work in when they choose their MBA program and concentration. Some are looking to enhance their knowledge of the field they already work in to give themselves an edge in moving up the corporate ladder. Others pursue an MBA with a goal of making a career change. Some students may have a bachelors degree in something other than business but want to move into a field that requires a business degree. Others may have a business degree but want to concentrate on a specific area such as global business, entrepreneurship or real estate in order to move into a new career. Examples of some career options are:

General Manager
Entrepreneur / Business Owner
Management Analyst/Management Consultant
Investment Banker
Venture Capitalist
Engineering Manager
Marketing Manager
Health Care Consultant
Product Manager
International Subsidiary Manager

Learn More About MBA Coursework

MIT’s Sloan School of Management course material is available online and will help students gain insight into what courses for a MBA would be like.
Most MBA programs provide course descriptions on their website. Before selecting a school and a concentration, prospective students should review these descriptions to find the best match for their career goals.

Resources

The Association to Advance Collegiate Schools of Business

MBA Career Services Council

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