Want to get an MBA but not sure what it entails?
Here is…
All you need to know about the MBA!
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Lesson
Summary: |
The MBA is a Master's degree in Business Administration. It is a highly popular master's degree, which attracts people from a wide range of professional backgrounds and academic disciplines. To find out what an MBA could do for you, click here.
Types of MBA programs:
- Regular/Two-year MBA: This program generally begins in August or September. It lasts for 2 year, ending in May of the second year, with a summer break in-between the two years. You will study during regular weekday hours like regular university students.
- Accelerated MBA: This program is similar to the regular MBA, but takes less time to complete by cutting down on the breaks during summer and between semesters. You will still study during regular hours.
- Part-time MBA: This is a program that suits working individuals, offering classes during nighttime, after regular business hours. These programs take longer to complete, approximately 3 years.
- Executive MBA: This type of program allows students to earn an MBA or another business-related graduate degree in two years or less while working full time. They usually require a lot of work-experience (often 10 years or more) for admissions.
- Distance MBA: This recently developed program allows students to complete an MBA off-campus, using email, video broadcasts, and computerized courses. It is highly advisable to check the accreditation of institutes offering such programs, since internet scams are a sad reality.
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MBA Admissions:
Admissions to MBA programs in different schools are subject to individual criteria as specified by the school. However, here are the generic admission criteria used to make decisions by most business schools:- GMAT score. The GMAT is a Graduate Management Admissions Test, a standardizes test created specifically to measure the aptitude of applicants to MBA programs. You can find a lot more information here.
- Bachelor's degree and GPA. In order to get admitted to a Master's program, you well need a Bachelor degree from a respectable institute. Many programs will also ask for a minimum grade point average from your undergraduate studies.
- Work experience. Many business schools require a minimum work experience in order to be eligible to enroll in an MBA program. How much experience depends on the school- it can range from none at all or 2 years to over 10 years for executive MBA.
- Admission essays. Most schools will require you to write one or several admission essays, detailing your background, education, experience, and why you fit into an MBA program. Schools are generally looking for things like leadership, community involvement, volunteering, and other qualities that would make both a good future manager and a valuable part of the student body in an MBA program.
- Letters of recommendation are often asked by schools, for similar reasons as admission essays.
- Interviews are sometimes conducted by certain schools as well.
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MBA Curriculum:
MBA programs are most often divided into years. The curriculum of year 1 is the same for all students, and includes introductory and generic courses in a large variety of areas, which include:- Organizational Behaviour
- Accounting
- Marketing
- Human Resources
- Strategic Management
- Operations Management
- Economics
- Risk Management
- Finance
- Information Technology Management
- Project Management
- Government Policy
- International Business
- Business Ethics
The second year of studies will generally allow students to pick a concentration or specialization. This will let MBA students choose one or more of the above areas and take in-depth courses to earn their specialization. Certain schools offer specializations that are not offered in other schools, so this is a critical decision when choosing an MBA school.
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MBA vs. MSc in Management
The MBA is often compared to other Master degrees, specifically the MSc in Management. The Master of Science in Management is similar to the MBA degree, and many students with little to no work experience holding a Bachelor degrees that is not directly related to the MBA will choose an MSc program instead of an MBA.
The curriculum of both degrees is generally fairly similar. The MSc focuses more on the managerial and operational sides of the business, whereas an MBA would focus on strategy. As well, while both degrees can prepare students for either real-world industry work or academic work, the MSc is more theory-oriented and the MBA is more professional practice-oriented.
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Where Can I Find More Information?
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Post Comments
oLahav said – Tue, 10 Feb 2009 18:05:31 -0000 ( Flag Edit Link )
The vast majorities of good business schools do require a GMAT score for admissions purposes, even for executive MBA’s which are mostly designed for individuals with a lot of work experience. 11 years of work experience will certainly add a lot to your profile, but I don’t think they can replace the GMAT.
Although I’m not personally familiar with any universities who don’t look at the GMAT scores for admissions, I’m pretty sure there should be a few who will still let you apply without a score. The big question is- how reputable are these schools? It’s important that you check.