“MBA” is simply short for Master of Business Administration. It is a type of degree that students who are looking to further their careers in business management and administration positions typically pursue. An MBA degree will increase your likelihood of landing a more advanced job in the career path of your choice. In this article, you will find the steps required to take before entering an MBA program, a list of schools with reputable MBA programs, and career paths you can choose to follow upon earning your MBA degree.
How to Get an MBA Degree: Requirements
There are just a few steps you need to take before you can apply to a university’s MBA program. Requirements for qualifying as an applicant for an MBA program are briefly described here.
As is common practice for earning a masters degree, you first need to obtain a bachelors degree. In order to join an MBA program, students typically major in business or business administration as undergraduate students. It is not uncommon, however, for students with other bachelor degrees, such as engineering, to study for an MBA degree. These students with other bachelor degrees usually intend to earn an MBA in order to further qualify for a higher position within the company for which they work, often aiming for positions in management.
After earning a bachelors degree in business or other academic field, you need to complete and pass at least one of two tests. The Graduate Record Exam, or GRE, is similar to the SAT in that it is meant to test your further developed skills in analytical writing, critical thinking, and more. The other highly valued exam, the Graduate Management Admission Test (GMAT), also assesses your analytical writing skills as well as your quantitative and verbal reasoning skills. You should check out your ideal university’s test and minimum score requirements before taking either exam.
In addition to all the above, if you wish to apply to an MBA program, you also will need a few letters of recommendation. These letters can be written by professors or any of your superiors at your current job in order for the university’s admissions team to see your dedication to your education and the tasks you complete on a regular basis.
For more information, see the requirements of each MBA program on various university websites.
Schools with Impressive MBA Programs
Below is a short list of universities and colleges that offer MBA programs that may suit your needs, both online and in the classroom. The choice is yours. Law schools and some highly reputable business schools often offer a joint JD/MBA degree option, or a Juris Doctor and Master of Business Administration degree in order to build an impressive resume to present to potential employers in the world of law. Remember to apply to multiple schools so that if you do not get accepted at your number one choice, you have one or more backup schools to choose from.
Harvard Law School
Columbia Law School
University of Chicago
UNC Kenan-Flaglar Business School
Careers in Business Administration
After all the information given above, you might still be thinking, “What can I do with an MBA degree?” This section is where you will find the answer to that question, with brief descriptions and possible salaries of positions you may qualify for once you obtain your MBA degree.
Management analysts spend their time assisting companies and organizations determine ways in which they can improve the ways these companies and organizations function in order to increase business. Management analysts possess MBAs as well as background knowledge in business management and other related fields. They are expert communicators and have excellent leadership skills and experience in operations. Many also choose to become certified, increasing their credibility and salary.
Management analysts can earn around $70,000 annually, depending on their education and experience levels.
A product manager is responsible for overseeing and arranging the marketing tactics for properly advertising a product. Product managers possess bachelor degrees in marketing, advertising, business management, or other related fields as well as three to four years of experience. They also possess excellent written and verbal communication skills and leadership skills to oversee teams responsible for individual parts of marketing campaigns, such as the research, packaging development, and distribution specialists. With an MBA, product managers earn a significantly higher salary because they possess advanced knowledge in the world of finance and marketing.
Product managers can earn around $75,000 annually.
Executive recruiters are responsible for the hiring process of individuals for executive or management positions for companies. A bachelors degree will sometimes suffice for this position, but an MBA is preferable. An MBA proves that the applicant has more advanced knowledge in the business world and therefore is more likely to perform job duties above average once hired and find better qualified applicants to fulfill a company’s available management or executive positions. Outstanding verbal and written communication is a must, and the slightest knowledge of behavioral psychology is also beneficial because executive recruiters need to be able to make informative decisions on applicants based not only on their resumes but how they handle particular situations as well.
Executive recruiters can earn over $80,000 annually with an MBA, based on education and experience levels.
A financial manager is responsible for supervising a company’s finances, compiling reports to present to business executives. Experienced and well-educated financial managers have MBAs with concentrations in anything from finance, human resources, management, economics, or other related fields. Background knowledge in business management, finances, and/or accounting is particularly beneficial, as are outstanding written and oral communication skills for a financial manager.
Financial managers can earn over $95,000 annually, based on experience and education levels.
In the world of advertising, advertising executives are responsible for organizing and handling various clients’ campaigns. Although the minimum degree required for this position is a bachelors degree in a field related to advertising and marketing, individuals with an MBA and concentration in advertising are far more likely to be accepted at a faster rate. With experience via internship or previous employment, those holding an MBA degree are often better prepared for the intensity that comes with the duties of an advertising executive. Qualities that companies look for include creativity and excellent problem solving skills as well as outstanding written and verbal communication skills.
Advertising executives can potentially earn over $100,000 a year, depending on education and experience levels.
Companies that Hire People with MBA Degrees
Once you earn an MBA degree, you automatically become highly desirable. The MBA degree is one of the most popular and useful master degrees in today’s society. Jobs with business administration qualifications are highly sought after by people with MBA degrees. Some companies that offer jobs for which you can use the knowledge you earned from obtaining your MBA degree are listed below.
CEO Search Partners – executive search company of the food industry; hires positions for executive recruiters, etc.
Oakley – founded in 1975, locations around the world; hires positions for executive recruiters, trade marketing managers, operations coordinators, etc.
Antioch University of New England – located in Keene, NH; hires positions for professors in various business courses, campus finance directors, etc.
St. Joseph System Office – located in Irvine, CA; hires positions for patient financial services managers, accounts payable coordinators, administrative supervisors, etc.
The job market for people with an MBA degree is very competitive, so high scores on your GRE and/or GMAT as well as an excellent grade point average along with a few years of experience within the specific field you want to enter are incredibly beneficial. Take your education seriously. Find a school with one of the best MBA programs available, and study hard so you can land a reputable job related to business administration.