What Does MBA Mean?
Are you interested in business and planning on going to grad school? The term 'MBA' stands for 'Master of Business Administration.' An MBA program is a graduate degree program that can prepare you to enter management and leadership positions in the business field. If you decide to pursue an MBA, you could take a range of courses related to finance, marketing, entrepreneurship and more. Schools offering Business degrees can also be found in these popular choices.
Overview of MBA Programs
Graduates of MBA programs are trained in several areas of management so that they can step into executive, entrepreneurial and administrative roles. Because an MBA is a graduate degree, you'll most likely need to earn a bachelor's degree before pursuing one, although some schools offer MBA programs that allow you to concurrently earn your bachelor's and graduate degrees. Additionally, some schools might require you to hold several years of real-world business experience, preferably completed after you've received your bachelor's degree.
Types of Programs
To accommodate students on different career paths, many schools offer their MBA programs in several formats. Some schools offer an accelerated program that will allow you to complete your MBA in a year, as opposed to the two years it normally takes. If travel or distance is an issue, you could apply to an online MBA program. Professionals who hold substantial experience in the business field might be eligible for an Executive Master of Business Administration (EMBA) program. These programs typically will expect you to maintain full-time business positions and attend your classes on weekends or evenings.
During an MBA program, you'll complete a number of core courses and electives, which might include communications, strategies, operations and management, economics, decision-making, business ethics and legal issues relating to business. You'll typically be able to choose an area of specialization or emphasis, such as international management, healthcare management, finance, marketing, risk management or real estate.
As an MBA graduate, you could seek upper-level management or executive positions at corporations and businesses. The U.S. Bureau of Labor Statistics (BLS) stated that MBA graduates might also pursue careers in information systems management, computer systems analysis, engineering management and financial services sales (www.bls.gov). According to the BLS, computer and information systems managers earned a mean yearly wage of $123,280 as of May 2010, while computer systems analysts made a mean salary of $81,250 per year. Engineering managers took in a mean income of $125,900 per year, while the mean annual wage for financial services sales agents was $95,130.
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