What is an MBA?

A Masters of Business Administration (MBA) is a master’s degree issued by many accredited universities throughout the world. It is a degree highly sought after by entrepreneurial students looking to gain an edge in the business world in a variety of different markets and corporations. The MBA program is designed to develop a person’s skills in many areas of business, providing them with an extremely broad knowledge as well as acute abilities. Courses in finance, leadership, organizational behavior, marketing, management, government and economics are some of the required course typically found in an MBA curriculum. Elective courses offer a person the opportunity to develop specialized skills, such as a concentration in the healthcare business.

The completion of an MBA in the United States takes approximately 2-3 years after attaining a bachelor’s degree. The allotted time for completing an MBA is slightly less in most European countries. Subordinate degrees are usually not required to be accepted into an MBA program, but many students begin their academic career with an MBA in mind. Many schools offer MBA programs along with other academic majors, and some focus only on business degrees.

Although universities that offer MBA programs have their own specific requirements for admission, generally, before a person is accepted into the program, he or she must do well on the Graduate Management Admission Test (GMAT). Other common requirements include work experience related to business administration, involvement in extracurricular activities and community and a basic understanding of business terminology.

For people who have already begun their career in the business world, including upwardly mobile executives who wish to attain an MBA, many schools offer special programs that differ slightly from the typical MBA curriculum. The Executive MBA is a part time program designed for those who already have extensive business experience. Working around their careers, students in this program have the opportunity to share their practical business experience with others, as well as immediately and directly applying their academic work to their careers.