The Master of Business Administration (MBA or M.B.A.) is a master’s degree in business administration. The MBA degree originated in the United States in the early 20th century when the country industrialized and companies sought scientific approaches to management. The core courses in an MBA program cover various areas of business such as accounting, finance, marketing, human resources, and operations in a manner most relevant to management analysis and strategy. Most programs also include elective courses.
The MBA is a terminal degree and a professional degree. Accreditation bodies specifically for MBA programs ensure consistency and quality of education. Business schools in many countries offer programs tailored to full-time, part-time, executive, and distance learning students, many with specialized concentrations.
The average salary for an MBA graduate is considerably higher than that of an employee with a regular master qualification. That is almost twice as much of what you can expect to earn with a regular University degree. In this case, in 2-3 years, you cover the investment made in your MBA education which is estimated to cost, for a 2 year MBA at a top business university, 110.000 $ on average.
Better career opportunities
This advantage of an MBA degree goes hand in hand with the first one and it is actually the cause of the first one. Graduates of an MBA programme have, due to their qualification, higher chances of obtaining and holding a high level management position. It is estimated that 70% of the MBA graduates worldwide are senior managers or board directors. This type of position brings along a higher salary but of course also a higher responsibility and longer working hours.
Better consolidated business network
As an MBA student you have great networking opportunities. Through this type of study you get to know and interact in a relevant manner with colleagues, professors and teaching staff. Furthermore if you are not doing a part-time MBA next to your job or within your company you have good chances to meet potential employers through the various internships that are part of most top MBA programme. Last but not least you gain access to the extensive alumni network of that particular MBA programme and of others (professionals with key positions to whom you already have a direct link through the MBA education you possess).
The core courses in an MBA program cover various areas of business such as:
4. Human Resources
1.MBA IN ACCOUNTING
An accounting concentration in an MBA program helps students learn about tax laws and properly maintaining financial records. Classes are concentrated on auditing, estate taxation and forensic accounting. The curricula will typically address topics such as:
- Organizational efficiency
- Business valuations
- Financial statement analysis
- Maintaining successful enterprises
- Innovation management
2. MBA IN FINANCE
Teaching principles of investment and financial markets, a finance concentration in an MBA degree program will cover topics in commodities, capital management and banking policy. Students must focus on subjects in real estate, urban economics and global trade. Topics covered include:
- Empirical finance
- Options and futures
- Risk management
- Asset assessment
- Real estate appraisal
Individuals with MBA degrees specialising in finance can find jobs with brokerage firms and regulatory agencies. Job titles such as these are a good fit for an MBA with a finance emphasis:
- Financial analyst
- Operations manager
- Account executive
- Investment banker