Tag Archive: Types of MBA Programs

MBA Degree: What Exactly Is It and How Much Does It Cost to Get It?

Today, MBA is considered one of the most prestigious and popular degrees in the world. Every year, thousands of students graduate with a degree in MBA from different schools worldwide. Even it’s considered a very challenging profession, a lot of students still pursue this course because of the so many benefits that come with it. But what exactly is an MBA?

MBA Degree

What is an MBA?

An MBA or Masters in Business Administration is a postgraduate degree that helps individuals expand their skills and knowledge in various areas of business, including accounting, marketing, finance, and management. An MBA degree is basically an award that recognizes your completion of studies in business, and certifies your general competency in the field.

Why get an MBA?

As mentioned, MBA provides you in-depth knowledge in the field of business. Those knowledge and skills can be used and applied in the real world of business. It’s a very versatile career, and you can use your skills in almost any business situations and across a number of industries. Whether you want to build your own business, become a high-paying executive, or change your career to become a sought-after accounting professional who is specialized in tax returns, MBA is an excellent way for you to get there sooner. Having an MBA degree also increases your salary potential.

How to get an MBA degree?

Of course, like many other degrees, you need to enroll to a school offering this course in order to become an MBA graduate. But before you can apply to business schools, you must first complete an undergraduate program from an accredited school. Your bachelor’s degree doesn’t necessarily have to be related in business, accounting, or finance. You can get accepted even if you major in music, arts, science, or any other non-business course. And depending on the school where you plan to get your MBA, you would need to have a couple of years of working experience and pass a qualifying exam before you can pursue your MBA.

Check the requirements of the school of your choice regarding their requirements for entering such program, and whether or not you are eligible to apply.

Types of MBA Programs

Of course, before you consider applying for a business program, you may want first to familiarize yourself with different types of MBA. You need to decide which one will work best for you. Some of them are the following:

  • Full-time MBA
  • Part-time MBA
  • Executive MBA
  • Professional MBA
  • Global MBA

The length of time that you’ll spend to complete your MBA course will depend on the type of program you choose, but generally, they can be completed from 18 months to 3 years.

Once you completed your MBA program, you may also further your education and choose an area of specialization, which include the following:

  • Accounting
  • Marketing
  • Finance
  • Management
  • Economics
  • International Business
  • Business Law

How Much Does an MBA Degree Cost?

Getting an MBA degree is expensive. Tuition fees can cost $50,000 or more per year, and it can be more expensive if you choose to attend an exclusive school. This is not to mention the amount that you will need to spend for commuting, eating, and paying your monthly rent. But of course, all the money that you’ll spend is worthwhile, especially when you completed the course and get your dream job. But if you can’t really afford it, you can always seek financial help from your school and other organizations providing scholarship programs.