Understanding Masters of Business Administration (MBA)

There are many reasons why people choose to pursue a Master’s of Business Administration (MBA) degree. While some do it to advance in their current jobs, there are others who treat it as a gateway to a high-flying career and a fat paycheck.

For many, an MBA is a chance to polish their skills as they prepare to enter the exciting world of corporate management and some just love the intellectual stimulation and challenge that a degree like this offers. There is another category of MBA aspirants who look at themselves as the corporate leaders of tomorrow and for them, an MBA is the first step of the ladder to success.

Whatever may be the reason for pursuing an MBA degree, what needs to be emphasized here is that it requires investment of both time and money. Since the tuition fee for an MBA is amongst the highest for graduate degrees, many students choose the more affordable and flexible online MBA programs over the on-campus ones.

Whether you earn your MBA degree online or by sitting in a classroom, it needs hard work, commitment, and perseverance. Also, you need to be aware of what to expect once you graduate and only then will you be able to get the maximum return on your investment.

Numerous Career Choices

Besides acquiring soft skills like interpersonal and communication skills, leadership skills, analytical aptitude, and ability to think out of the box, MBA graduates also learn advanced business concepts and management principals. The professional training imparted in an MBA program helps managers identify growth opportunities and take critical decisions that lead organizations on the path to success.

The career choices open to a Master’s of Business Administration graduate are many. From marketing management and corporate finance to Information Technology management and human resources – an MBA graduate can choose a business field that interests them and utilizes their academic knowledge, practical training, and intrinsic strengths to the maximum extent possible.

For example, if you like the thrill of promoting an organization’s products and services through different channels, then you may enjoy the field of marketing. The U.S. Department of Labor defines the work of a marketing manager as estimating the demand for products and services offered by a firm and identifying potential markets for them. Marketing managers also develop pricing strategies and monitor product development.

Financial managers, on the other hand, supervise a company’s direct investment activities in addition to implementing its short-term and long-term financial management strategies and goals. They are also responsible for directing the preparation of financial reports. If you like number crunching and cash planning, then you will draw maximum satisfaction out of financial management.

Employment Opportunities Galore

Contrary to the popular perception that MBAs mostly work in the private sector, many graduates find employment opportunities in federal, state, and non-profit organizations as well. A lot of MBAs also become entrepreneurs, while some choose to work as independent consultants.

Their earnings depend to a great extent on their specialization, their employer, the sector in which they work, and their geographic location. A financial manager, for instance, on an average earned $99,330 per annum in May 2008. This should give candidates some insight into the earning potential of a manager.

However, the fat paycheck is often accompanied with hectic work schedule and enormous performance pressure. Managers are involved in strategic business decisions and are responsible for driving growth in an organization.

Besides, since most MBAs become people managers, their performance is based on how well the team does. They are expected to keep the motivation levels of their team high, make sure their team keeps up its performance, and be ready with solutions to any problems that might or might not have a direct impact on the work. Such high levels of responsibility can lead to huge amount of mental and physical stress that many modern day managers face. But that’s something that many modern day managers accept as occupational hazard.

So, if you are driven by a passion to lead people and organizations, craft corporate success stories, enjoy taking on new challenges, a Master in Business Administration program is the right choice for you!

Masters Of Business Administration And The Possibility Of Your Career

An MBA degree is a sure shot technique for obtaining high salary and excellent growth opportunities. However, a candidate has to focus and study with utmost dedication and commitment without any lapses. At the same time, once he has obtained this document with flying colors he has to prove himself in the industry.

Nevertheless, due to current economic gloom and unemployment the fascination for MBA has somewhat reduced and this can be gauged from the number of less students opting to pursue MBA. Sometimes it may not be necessary that after graduating you will surely receive high profile employment and excellent remuneration.

The drastic monetary downturn, severe inflation and job cuts have really diminished the actual craze for masters of business administration. The general criterion of any MBA program is to devise and implement effective case studies, curriculum course, examinations, assignments and useful student to teacher participation.

Verbal skills can be really advantageous in order to secure good marks in the final examinations. The ability to communicate efficiently in the business industry is considered to be a great asset. You can easily formulate and implement diverse useful business ideas and thoughts with the help from effective verbal skills.

It has been noticed that to obtain promotion in your current job an MBA degree can play a vital role without any doubt. If you have an degree from a reputed institute then you can easily gain promotion and could achieve tremendous growth of success. Among, several other things, a Master of Business Administration degree will undoubtedly assist you in preparing yourself for the actual world of cut throat business industry.

MBA degree can enhance your verbal skills, interpersonal skills, man management skills, presentation skills, the ability to take tough and immaculate business decisions and several other aspects that can guide you successfully in your future business endeavors. You can have first hand experience in finance, accounting, HR, sales, marketing and several other segments through an MBA education. At the same time, you will be able to analyze diverse business functions and how they are related to one another.

Top Masters on Business Administration Programs

There are four schools offering MBA programs which are on the top list; they are Harvard, Stanford, Pennsylvania and Chicago Universities. These universities boast modern curricula, excellent professors and a variety of degree choices that make them different from other schools offering MBA courses in the country.

Stanford University

Stanford University stands alone as top MBA School in the Forbes List but tied with Harvard in number one ranking in United States News and World Report on listing of the finest MBA courses. However, in the listing of Bloomberg it is in the sixth place only. It advertises little class size for MBA learners, but the course also offers complete range of combined masteral degree in business administration offered in union with other schools on Stanford. Students may pursue joint Masters in Business Administration degree along with master’s or doctoral courses offered by the college of Medicine, Education, Law, Engineering and Humanities and Sciences.

Harvard University

Harvard University earns second place in the listing on Bloomberg’s list but the school tied for the top place with Stanford in the United States News and World Report in their listing of Best MBA programs. It also ranks number three in the Forbes list. The professors in Harvard teach based on the case process wherein they utilize case studies in introducing real-world problems in business in the classroom.

University of Chicago

The University of Chicago obtains the first place in Bloomberg’s listing of Best MBA courses, fourth place, just after Harvard in the Forbes list and fifth place in the U. S. News and World Report together with University of Pennsylvania.

In the MBA program of the University of Chicago, the students must get only one needed course, the Leadership Effectiveness and Development in order that they can develop the course of learning relevant to personal and employer’s needs. Students also take part in contests and take laboratory classes which allow them earn first- hand experiences in resolving problems in the real-world of business.

University of Pennsylvania

This university ranks fourth in the Bloomberg listing, fifth place in Forbes lists and the United States and World Report and sharing fifth spot in United Sates News listing University of Chicago. Wharton School of Pennsylvania publicizes a variety of interdisciplinary MBA courses with Design, Nursing, Social Work and Engineering. Wharton also planned the first combined MBA/MA in International Management in union with School of Arts and Sciences. Students interested in finishing MBA study in any of these top ranked universities must contact every school of business of these institutions to determine requirements for admission in their school.