Master's Degrees in MBA

Why would I want an MBA degree?

The two biggest reasons to get an MBA are to advance your career (catapult you into management positions, etc.) and to get a higher salary. There are other reasons, though, why one might want to get an MBA. In all sectors you can find people who went back to school to get an MBA to improve their management skills. For example, a medical doctor who is put on the board of a hospital, an engineer who wants to manage engineering projects, or a lawyer who wants to practice business law. Having an MBA degree will give you an edge no matter what industry you decide to work in.

What do people with MBA’s do?

As was previously mentioned, people with MBA’s go into many different industries, not just one’s that are business related. With that said, the majority of MBA graduates do take up jobs in the business sector. It would be difficult to list all of the different possibilities or job opportunities that an MBA grad would have, but among the most popular choices are the following:

• Management & Financial Consulting: If this is the route that an MBA grad chooses to take, usually it’s for a big firm that specializes in consulting. They help people, companies, and organizations budget, invest, and manage their assets.
• Accounting: They gather, analyze, and prepare financial records and statements. In most states, in order to receive a CPA (Certified Public Accountant) one must have at least a master’s degree in accounting or business administration with an emphasis in finance.
• Marketing: Marketing jobs (especially management positions) pay well, but are also quite competitive. In order to gain an upper hand in getting these positions, many people get an MBA. From there they can find management positions in Branding, Promotions, Public Relations, etc.
• Business Executive (CEO, CFO, ect.): The vast majority of business executives have received an MBA degree. Most MBA graduates aren’t offered executive positions right out of school, but they must have this qualification to make it that high up the corporate ladder.
• Entrepreneur: Rather than a desire to work their way up the corporate ladder, some people get an MBA in order to start their own business. An MBA can assist in helping people manage and run a business, as well as helping them network and meet key people who could help them get their businesses off the ground.

How much does an MBA graduate make?

It is difficult to put an exact number on an average salary given the broad scope of jobs that MBA graduates take. The two biggest factors in deciding how much an MBA graduate makes is the industry they go into and the schools they graduate from.

A recent study of MBA salaries from Business Week showed that the average salary for a recent graduate from a top-tier school (such as Harvard, MIT, etc.) is $134,000. For those who graduate from second-tier schools (such as Arizona State, Illinois, etc.), the average starting salary is $72,000.

How popular are MBA degrees?

MBA degrees are actually very popular. This popularity is due to increased salaries, increased opportunities, and greater management skills for those who have received an MBA. In fact, they are so popular that some schools have special MBA programs (sometimes known as executive MBA’s) which allow people to keep their current jobs while earning their MBA. This is accomplished by either taking classes at night, or by meeting just once a week during the weekend.

How do I get an MBA?

There are a few things that need to be done in order to qualify to apply for the vast majority of MBA programs. The first thing is that you need to receive a bachelor’s degree. It doesn’t matter what discipline you receive your degree in, as long as you have one. The second thing you need to do is take the GMAT, which is a general exam that is a prerequisite for applying to an MBA school.

The last thing (which isn’t necessarily a requirement, but most schools will look for it) is at least two years of work experience after graduating with a bachelor’s degree. There are exceptions to this rule, but most MBA schools would like to see that you’ve gained some post graduation work experience.