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Deciding to study an MBA degree (Master of Business Administration) is a big step for aspiring managers. Is pursuing an MBA program offered by a business school abroad a good choice? Are the financial investment and the demanding entry requirements justified? All in all, is an MBA worth it?
If you’re preparing to enter the competitive business world of today, we believe it is.
An MBA graduate degree will offer you a wealth of advantages, especially when it’s from a well-regarded top business school. Getting a high MBA salary after graduation, landing a management position, developing a strong professional network, or even becoming your own boss are just a few of the advantages of studying an MBA.
Need to know more? Here are the top 7 reasons why it is worth to start studying a Business Administration degree:
1. Develop priceless management skills
MBA applicants are usually young professionals with a minimum of two years of professional experience. Even senior employees who feel up to the challenge may sometimes apply. After some time in the professional life, it is human nature to seek comfort and to avoid taking risks.
MBAs and their connected specialisations will teach you a lot about everything that makes a company tick. You will learn how to:
• Manufacture, advertise and sell your products
• Keeping the company’s finances healthy
• Maintain the company’s positive image
• Gather and interpret industry data
• Hire the right people and keep them motivated
• Create hierarchies that help the company thrive
• Making the tough calls at the right time
Studying a Master’s in Business Administration forces you to get out of your comfort zone. You’ll encounter the latest International Business trends, apply the newest management techniques, and keep challenging yourself.
Here are a few universities and business schools offering MBAs that will develop the transferable skills and business mindset you’ll need to succeed:
• James Madison University, United States
• Geneva Business School, Switzerland
• University of Wolverhampton, UK
• Koc University, Turkey
• Loughborough University, UK
2. Get free access to a large business network
As an MBA student, you have great networking opportunities. You’ll get to interact with fellow students, professors and teaching staff (business people with great management experience). And this context will accentuate your business management capabilities.
If you want to develop your business knowledge but don’t have a lot of time, you can choose a part-time MBA program next to your job. Other opportunities to gain experience are the internships included with most MBAs.
Finally, you gain access to the extensive alumni network of that particular MBA programme. Your connections will give you a great overview of the business world. Be ready for a deep understanding of the slightest changes in the business environment. You can reflect on some big business issues and make connections between various global events and world affairs.
Check some of the most popular countries where you can study an English-taught MBA:
• MBAs in Spain
• MBAs in Switzerland
• MBAs in France
• MBAs in the U.K.
• MBAs in the U.S.
3. An MBA salary is a high salary
Among the benefits of an MBA, job security and high salary are some of the most important. The average income for an MBA graduate is much higher than an employee’s with a regular Master’s. You can expect to earn twice as much as what you would get from a regular university degree.
If you’re wondering what you can do with an MBA degree or what MBA jobs are available, here are some popular career choices: business operations manager, management analyst, market research analyst, top executive, HR manager, etc.
Average salaries for MBA graduates
• In the U.S. – 84,650 EUR/year
• European countries – 100,000 EUR/year
In two-three years’ time, you cover the investment made with your MBA education.
Average two-year MBA costs at top business schools
• In the U.S. – 101,200 EUR/year
• In Europe – 9,800 to 35,600 EUR/year
4. Start your own company from scratch
Many students choose an MBA because they want to become entrepreneurs and learn how to run a business. They have a big dream and want to know how to turn it into reality. An MBA will help you acquire business practices needed to start a new business or help existing ones grow.
Many MBA graduates end up starting their own business. Those who don’t, land middle-level or top-level management positions within big companies. Just imagine how becoming your own manager would feel like.
5. Open the door to thriving career opportunities
Graduates of part-time or full-time MBA programs have higher chances of holding a high-level management position and enjoying successful MBA careers. You can also explore online MBA degrees, which offer more flexibility and allows you to learn at your own pace. Over 50% of MBA graduates worldwide are senior managers or board directors. This type of position brings a higher salary, but also greater responsibilities.
According to Bloomberg, top employers hiring the most MBA graduates in Europe include Deloitte, Ernst & Young, McKinsey, and Boston Consulting Group. American companies like Apple, IBM, Procter and Gamble, and Amazon are also hunting for MBA graduates.
6. Experience a new place and culture
By earning an MBA abroad, you will gain a new perspective on how businesses are handled and get to live in a foreign country. This will broaden your cultural horizon and your international business career prospects.
You can find companies that you want to work for and arrange meetings with potential employers. Who knows, you might end up staying and working in that country after graduation.
Here are some of the best business schools in the world in 2019 based on a ranking made by Financial Times:
• Insead Business School, in France
• University of Pennsylvania, in the U.S.
• IESE Business School, in Spain
• London Business School, in the U.K.
• National University of Singapore, in Singapore
7. Studyportals helps you apply to the right MBA
Studyportals is here to help you find the right international MBA that fits your needs. Are you determined not to waste any time and apply to an MBA right now? You can let Studyportals help you apply to our partner universities abroad. You can apply whenever you want, and it won’t cost you anything.
Here are a few universities offering MBAs you can apply to right now:
• London School of International Business
• Glasgow Caledonian University
• University of Portsmouth
• The University of Western Australia
• University of the West of Scotland
Check the Masters and see which of the degrees match your background and interests. Start the application process by filling in your student profile. You will get contacted by one of our application counsellors who will assist you further. We’ll then apply on your behalf. Find out more about applying to a Master’s degree with Studyportals.
An MBA means the worldwide recognition of your credentials
Once you graduate an MBA, regardless of the location where you plan to build your career, your degree will increase your business credibility.
The real advantage of an MBA, however, is its proven versatility. With an MBA, you can pursue many careers and advance faster to better-paid jobs.
So, start looking for an MBA degree and find your perfect match!
Business administration degrees are among the most popular college programs in the U.S., and with good reason. Armed with this versatile credential, you can potentially launch a career in any industry, from music to manufacturing, construction to consulting.
With a two-year associate’s degree, you might find employment as a management trainee in the sales or retail industry, or jump into a role in office manager or project coordination. A bachelor’s degree in business administration can give you the tools to take on administrative and managerial roles, while earning your MBA will help you take the big step into leadership positions such as CEO or CFO.
Hundreds of schools offer courses in business administration. Whether you choose a brick and mortar campus or an online-only option, expect to work closely with other students on challenging team projects that put business theory into practice.
Ready to locate the program that’s right for you?
Associate’s Degree in Business Administration
Whether you’re looking to launch a new career or advance the one you’ve got, an associate’s degree in business administration can help you find your footing in the business world. It can also be an important step toward a bachelor’s degree. Programs typically focus on accounting, management and software applications. You’ll most likely apply the techniques you’ve learned in a capstone course with real-world relevance.
Many schools offer concentrations in specific areas of business administration, including health care administration, human resources and information systems. Through career-oriented courses, these programs help students build the skills and industry background information to qualify for entry-level jobs in a specialty field.
Bachelor’s Degree in Business Administration
Graduates of business administration programs typically come away with a strong grasp of business management principles, technical know-how and interpersonal skills.
With a bachelor’s degree in business administration, you will qualify for vital roles in private, public and nonprofit organizations. You will be ready to work across industries as a business analyst, human resources generalist, operations manager or marketing specialist. Some business administration graduates also venture into entrepreneurship, creating their own successful enterprises from the ground up.
In general, course work for a bachelor’s of business administration covers management principles and practices such as the following:
• Organizational leadership
• Resource management: people, money, time
• Strategic planning
• Business-oriented computer applications
• Financial management
• Business ethics
Students can also expect their program to cover core business subjects such as accounting, finance, information technology and marketing.
As an example of a typical course load, University of Phoenix offers the following program of 120 credit hours of undergraduate courses for Bachelor of Science in Business with a concentration in Administration:
Examples of Core Courses
• Business Communications and Critical Thinking: Students will develop skills in critical thinking and decision making through the forms of written communication, including memos, emails, business letters, and reports. Other topics include communication ethics and cross-cultural communications, personal communication styles, solving organizational problems, and the evaluation of an organizations strategic direction.
• Introduction to Computer Applications and Systems:Students learn to apply Microsoft® Office tools including work processing, spreadsheet, database, and presentation software to accomplish business objectives.
• Management Theory and Practice: This course explores the rich field of management in theory and practice, and as both a science and an art. Students learn to apply management concepts to current workplace issues
• Principles of Accounting I: This course covers the fundamentals of financial accounting as well as the identification, measurement, and reporting of the financial effects of economic events on an enterprise.
• Principles of Accounting II: This course introduces accounting concepts in a business environment.
• Business Research: Students will learn to apply an understanding of commonly employed business research techniques to improve a situation, solve a problem, or change a process.
• Principles of Microeconomics: This course provides students with the basic theories, concepts, terminology, and uses of microeconomics.
• Finance for Business: This course introduces the student to the essential elements of finance for business. Topics include: Financial planning, working capital management, capital budgeting, long term financing, and international finance.
• Global Business Strategies: The manager’s perspective in the fields of international payments, international trade, and investment are analyzed. Emphasis is given to the materials and concepts that illuminate the strategies, structure, practices, and effects of multinational enterprises.
Other classes may include such topics as marketing, quantitative analysis, business law and integrated business.
Master of Business Administration (MBA) Programs
With an MBA degree, graduates qualify for an extensive list of management roles. From corporate controllers to executive directors in nonprofit agencies and from independent consultants to business owners, graduates of MBA degree programs position themselves for diverse professional opportunities throughout their careers.
Students can choose a full-time MBA or part-time MBA program. Full-time MBA programs typically take two years to complete. Undergraduate students can enter into a BA/MBA track where they earn their bachelor’s degree and MBA in a total of five years.
Additionally, for working professionals, busy moms and people with generally demanding schedules, pursuing an online MBA degree can be an ideal alternative to a traditional classroom program. While the curriculum may vary between schools, an accredited MBA online program delivers the same high-quality education and practical training as an on-campus program.
Doctor of Business Administration (DBA) Programs
A Doctor of Business Administration (DBA) prepares graduates to lead, consult and teach in corporate and academic arenas. Typically designed for applicants with management experience, DBA degree programs build on skills acquired through master’s-level studies. Like a PhD, a DBA equips professionals with expertise in leadership and management principles and a higher level of competence in conducting research.
Students can earn their DBA in three to six years, depending on whether they enroll in a full-time or part-time program.
DBA studies usually involve classes in research and analytical methods; core management subjects such as strategic planning, managing change and solutions-oriented leadership; and the student’s choice of specialization. Examples of specializations include international business, management, marketing and information systems.
Additionally, candidates for a Doctor of Business Administration degree must write and defend a doctoral dissertation and pass a comprehensive exam as part of the requirements for their degree.
What certification will I need?
Though business administration professions are frequently determined by degree types, there are certificate programs available in business administration, mostly to help develop executive education skills. If you specialize in a subfield of business administration such as human resources, accounting, finance, marketing and information technology, you’ll find a wealth of professional certificates designed to help you advance in your career—many of which are conveniently available in the online format.
What will I learn in my courses?
Those who pursue an associate’s degree in business administration will find that the course work includes the following subjects:
• Fundamentals of business
• Critical thinking
• Project planning and implementation
• Business software
In general, course work for a bachelor’s of business administration covers management principles and practices such as the following:
• Organizational leadership
• People management
• Strategic planning
• Business-oriented computer applications
Students can also expect their program to include an introduction to core business subjects like accounting, finance, information technology and marketing.
Curriculum for an MBA program covers the following topics:
• Advanced management concepts and best practices
• Organizational behavior and design
• Ethical leadership
• Strategic planning
• International business
• Information technology
DBA studies usually involve classes in research and analytical methods; core management subjects such as strategic planning, managing change and solutions-oriented leadership; and the student’s choice of specialization. Examples of specializations include international business, management, marketing and information systems.
How long will it take?
Depending upon your level of dedication, a business administration major can take the following time to complete:
• Associate’s degree programs, which provide entry-level opportunity, usually take two years
• A bachelor’s degree program takes four years
• Master’s degree programs and MBAs generally require one to two years
• A DBA program generally takes three to six years to complete
Are online programs available?
Luckily, online programs in business administration are readily available for all degree levels, including associates, bachelors, MBA and DBA degree programs. Online programs include general business as well as almost every specialty area, including online programs in the following:
• Computer Science
• International Business
• Human Resources Management
• Health Care Management
How much will my education cost?
Bachelor’s degree programs vary depending upon the institution you attend. According to College Board’s Trends in College Pricing 2017-2018, the average annual cost* for a four-year, public institution runs around $9,970 for in-state tuition and $25,620 for out-of-state-tuition.
The average annual cost for a four-year private non-profit school is $34,740 and $16,000 for a private for-profit school. Master’s degree program tuition at in-state public institutions costs an average of $8,670 annually, and doctorate program tuition costs $10,830 annually at in-state public institutions.
Attending an accredited school may allow you to apply for financial aid, whether the school you select is a traditional classroom or online program.
Are there prerequisites?
Undergraduate: A strong college preparatory high school education is a good start for your business administration degree program. Courses in English, communications and social sciences are recommended. Mathematics courses, at least through pre-calculus, are highly desirable. If your school offers computer technology classes make sure you enroll, as these skills will be integral through college and into your career.
Graduate: A completed, four-year bachelor’s degree in business administration or a related business field will prepare you for graduate school.
GRE and GMAT: The Graduate Record Examination (GRE) or Graduate Management Admission Test (GMAT) is not required for admission to degree programs in the U.S. However, you may submit a score for review with your admission materials.
What accreditation is there for my program?
Accreditation shows that an institution or program meets standards of quality set forth by an accrediting agency, and that it is committed not only to meet those standards but to continuously seek ways in which to improve the quality of education and training provided. There are two types of educational accreditation: institutional and specialized.
The three main specialized accreditors for business administration degree programs include:
DEFINITION of Melbourne Business School
The Melbourne Business School (MBS) offers both law and business degrees, as well as programs in marketing, management and research. The Melbourne Business School is also known for its centers of excellence that focus on various business-related topics and objectives.
BREAKING DOWN Melbourne Business School
Located in Melbourne, Australia, the Melbourne Business School was founded in 1963 and has the distinct honor of awarding the first master of business administration (MBA) degree in Australia in 1965. The school is also unique in that it is co-owned by the University of Melbourne, which owns 45%, and several Australian businesses, which own the other 55%.
Degrees Offered by Melbourne Business School
Degrees offered by Melbourne Business School include:
Masters in Management
• Accounting and Finance
• Human Resources
• Applied Econometrics
• Actuarial Science
• Business Analytics
• Public Administration
• Supply Chain Management
They also offer a master’s in international business, part-time, full-time and executive MBA programs, PhDs and certificates in leadership and strategic marketing.
Campus Life and Applying
The main campus of MBS is located in Carlton, a suburb of Melbourne within walking distance to the Central Business District. Executive classes are also taught at the Mt. Eliza campus, which was the Mt. Eliza Business School before the two institutions merged in 2004, on the Mornington Peninsula. Students are offered the opportunity to participate in a wide range of enrichment programs, including competitions, community engagement and workplace opportunities.
Anyone interested in attending MBS must take the graduate management admission test (GMAT), and those recently accepted have had an average score of 705. Applicants should also have two years of relevant work experience and will need to provide their CV, academic transcript, a personal statement and two professional references.
Tuition and Scholarship Opportunities
In 2018 the cost of the full-time MBA program was A$85,470 for domestic and international students. International students are required to carry health insurance while they attend the school, which is an additional cost. Many scholarships are available to MBS students. Graduate and research students can apply for domestic or international scholarships based on merit and/or major. Some scholarships must be applied for during certain rounds (semesters), while others can be applied for at any time.
In 2017, the Melbourne Business School’s MBA was ranked 76th worldwide by The Financial Times, and its marketing program was ranked third. Graduates of MBS have gone on to become CEOs of hospitals, businesses and newspapers, politicians, police chiefs and chairmen.
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DEFINITION of Leeds School of Business
The Leeds School of Business is the school of business at the University of Colorado at Boulder. Leeds School of Business’ enrollment is approximately 3,400 undergraduate and graduate-level students. It offers undergraduate and graduate programs in a variety of business disciplines, including accounting, information systems, management, finance, marketing and operations and information management.
BREAKING DOWN Leeds School of Business
Located in Boulder, Colo., the Leeds School of Business was established in 1906 as the College of Comm within the College of Liberal Arts. In 1922, the business program became the School of Business Administration. The school changed its name to the Leeds School of Business in 2001, following a large donation from the Leeds family, alumni of the school. The donation made social responsibility and ethics a hallmark of the curriculum.
Leeds School of Business Social Responsibility and Ethics
As part of its $35 million donation, the Leeds family mandated that all students at the Leeds School of Business receive meaningful training in social responsibility, business ethics, diversity and inclusion, and sustainability. Undergraduate students have the opportunity to earn a certificate in socially responsible enterprise. The school also offers executive education in corporate social responsibility, as well as leadership development programs in the natural foods industry.
Leeds School of Business Programs
The Leeds School of Business offers undergraduate degrees in several concentrations, including accounting, finance, marketing, and management and entrepreneurship. The school also offers master of business administration (MBA) degrees, evening MBA, master’s in accounting, master’s in business analytics, master’s in finance, master’s in real estate and master’s in supply chain management. Leeds School of Business also offers PhD programs.
Within the Leeds School of Business, students can participate in about 40 academic clubs, such as The National Association of Women M.B.A.’s and the CU Finance Club.
Leeds School of Business Rankings and Accreditation
The Leeds School of Business has been ranked number 20 in the country for undergraduate business program by U.S. News & World Report, number 65 best graduate business school by U.S. News & World Report and number 51 best part-time MBA program by U.S. News & World Report.
The MBA program has been ranked number 80 by Bloomberg Businessweek.
The Leeds School of Business is accredited by the Association to Advance Collegiate Schools of Business (AACSB).
AACSB represents the highest standard of accreditation for business schools internationally. Less than 5% of the more than 16,000 schools worldwide, that grant business degrees, have earned AACSB accreditation.
Relatively recent advancements in education technology have enabled universities and colleges across the country to offer affordable online Master’s of Business Administration degrees. Such programs allow aspiring professionals to advance their technical expertise and subject knowledge without ever leaving the comfort of their homes, pursuing degrees at a pace that fits their lifestyles and schedules. In addition, with flexible class schedules, many professionals who earn an online MBA can continue working part- or full-time, depending on their course load. In this ranking, we explore the top 25 most affordable online Master’s of Business Administration degrees.MethodologyWe developed the following list for students looking for an affordable Master’s in Business Administration online. Using information obtained from each school’s website, the National Center for Education Statistics (NCES), and U.S. News & World Report, we were able to develop a comprehensive list of the top master’s online in business administration for graduate students. To get these schools, we conducted a search for the term “Master’s of Business Administration degree” using the NCES’s College Navigator database and narrowed down the initial pool of more than 200 schools into the top 25 based on factors such as national rankings and the average program cost.Average Cost of AttendanceAlthough tuition is arguably the first thing that prospective students search for when comparing degrees under the assumption that the most expensive programs are the best, such is not always the case. In fact, some of the most affordable online master’s in business administration degrees may offer topics or specializations that the more costly schools do not. Every program on our list costs less than $35,000 in total program tuition, and we awarded points based on the cost ranges as outlined below.Points:Under $15,000: 3 points$15,001 to $20,000: 2 points$20,001 or more: 1 pointCollege RankingStudents looking for an online master’s in business administration should also be aware of how their prospective schools compare to other institutions offering similar programs or degrees. For this category, we consulted U.S. News & World Report, a nationally recognized agency responsible for comparing and evaluating the quality of degrees, programs, and schools in the country. For the purpose of our list, we awarded points for its Best Online MBA category based on how the agency ranked each school.Points:U.S. News & World Report: Best Online MBA Program Ranking:Top 10: 5 pointsTop 25: 4 pointsTop 50: 3 pointsTop 75: 2 pointsTop 100: 1 pointRanking Top 25 Most Affordable Online Master of Business Administration DegreesNorthwest Nazarene UniversityNampa, IdahoThe online MBA from Northwest Nazarene University can be completed in 16 months of study.Points: 3Program WebsiteThe Master of Business Administration at Northwest Nazarene University is offered entirely online. A generalist program in business administration, it is designed for working professionals looking for an intensive, ACBSP-accredited course of study. Students who take two eight-week sessions simultaneously can earn their degree within 16 months, and students should expect to spend 12 to 16 hours per week on each course. MBA students may also choose from an emphasis on healthcare, which consists of an additional nine credits, or an emphasis on accounting, which consists of an additional 12 credits and can be completed within 18 months. Students who choose the accounting pathway are prepared to sit for CPA licensure, and face-to-face review sessions may be offered in addition to online classes.Degree Options:Master of Business AdministrationAverage Program Cost: $19,635U.S. News & World Report Ranking:#215-#284Frostburg State UniversityFrostburg, MarylandThe online MBA from Frostburg State University requires 36-42 credit hours of coursework.Points: 3Program WebsiteFrostburg State University’s online Master of Business Administration is designed in a seven-week course model that gives students the flexibility to juggle academic, personal, and professional commitments. Students pursuing the 36- to 42-credit-hour program take eight core courses, and all students will choose among three concentrations that include an additional four courses focusing on honing professional knowledge and skills. These concentrations include management, healthcare management, and business analytics. The program is designed for both non-business and business majors, and it is accredited by the Association to Advance Collegiate Schools of Business. Students may complete the MBA program in as few as 12 months will full-time enrollment.Degree Options:Master of Business AdministrationAverage Program Cost: $19,584U.S. News & World Report Ranking:#131 (tie)Park UniversityParkville, MissouriPark University’s online MBA requires 33 credit hours of coursework.Points: 3Program WebsitePark University’s 33-credit-hour Master of Business Administration program is available entirely online, on-campus, or a combination of the two. MBA courses are offered in an accelerated, eight-week format that allows students to complete the program in as few as 15 months. Graduate students may pursue a general MBA degree or tailor the program through electives based on their professional interests. Alternatively, students may choose a formal area of concentration such as quality and innovation management, project management, management information systems, management accounting, human resource management, or homeland security. Specializations in global executive, global business, finance, and disaster and emergency management are also available.Degree Options:Master of Business AdministrationAverage Program Cost: $18,117U.S. News & World Report Ranking:#215-#284Shippensburg UniversityShippensburg, PennsylvaniaThe online MBA from Shippensburg University requires 30 credit hours of coursework.Points: 3Program WebsiteThe online MBA offered by Shippensburg University is a 30-credit, AACSB-accredited program that is comprised of eight required courses and two electives. Designed to help students develop the skills and knowledge they need to conduct business successfully in both international and domestic contexts, the program is available entirely online using a combination of synchronous and asynchronous exercises, discussions, and lectures. Courses are taught in accelerated eight-week sessions with optional opportunities to interact with other students and faculty through live online video conferencing. Some exams may be proctored, which might require students to be flexible in arranging for in-person testing at specific locations. Students who complete two courses each semester can finish the program within two years.Degree Options:MBA OnlineAverage Program Cost: $18,000U.S. News & World Report Ranking:#143 (tie)Andrews UniversityBerrien Springs, MichiganAndrews University’s online MBA requires 33 credit hours of coursework.Points: 3Program WebsiteThe Master of Business Administration at Andrews University is offered entirely online, although the final courses are provided on-campus during three-week intensives. Students complete 33 credits of coursework if they hold an undergraduate degree in business; an additional 13 hours of prerequisites are required for non-business majors. Students who are taking classes on a full-time basis and who hold a Bachelor’s in Business Administration may complete the program within one year. The curriculum integrates Christian ethical principles with business concepts to prepare students for positions in leadership, international and domestic business, nonprofit organizations, and government.Degree Options:Business Administration – MBAAverage Program Cost: $17,721U.S. News & World Report Ranking:#202 (tie)University of North AlabamaFlorence, AlabamaThe University of North Alabama’s MBA requires 34 credit hours of coursework.Points: 3Program WebsiteThe Master of Business Administration at the University of North Alabama is one of the top-ranked programs of its kind in Alabama. Faculty members bring real-world experience to the classroom that serves as a foundation for the program, and students benefit from professors’ experience and research by solving business problems, using case studies, and developing practical strategies, knowledge, and business skills. Students may pursue a traditional online 34-credit-hour MBA and specialize in a concentration such as accounting, information systems, finance, sales and new business development, global business, human resource management, project management, and healthcare management. Students may also pursue an Executive MBA if they have five years of business experience and they wish to improve their management and leadership skills.Degree Options:Master of Business AdministrationExecutive Master of Business AdministrationAverage Program Cost: $16,150U.S. News & World Report Ranking:#175 (tie)University of MaryBismarck, North DakotaThe online MBA from the University of Mary can be completed in 20 months of study.Points: 3Program WebsiteStudents pursuing the online Master of Business Administration from the University of Mary can complete the program within 20 months. The curriculum provides students with the skills and knowledge they need for leadership and management positions in various business careers. Students can choose from nine optional concentration areas to tailor their MBA toward their specific career objectives, including topics in virtuous leadership, public administration, project management, human resource management, healthcare informatics, healthcare, Catholic philanthropy, and an executive program. Required courses focus on economic analysis, accounting, finance, operations management, management and organizational behavior, marketing, statistics and research, ethics, human resources, and project management. The program culminates with a final graduate business capstone.Degree Options:Master of Business Administration (MBA) OnlineAverage Program Cost: $15,000U.S. News & World Report Ranking:N/AFitchburg State UniversityFitchburg, MassachusettsThe online MBA from Fitchburg State University requires 30 credit hours of coursework.Points: 3Program WebsiteTo earn the Master of Business Administration from Fitchburg State University, students must complete a total of 10 courses, or 30 credit hours of study, including a three-hour elective course, nine hours of required management concentration courses, and 18 hours of advanced core requirements. Online courses are taught and designed by the same on-campus faculty, many of whom are working professionals in the field. The curriculum focuses on participation through collaborative learning groups and online class discussions. Areas of study include strategic management, accounting practices, corporate finance, marketing management, management information systems, and organizational behavior and development. The program is accredited by the IACBE, and graduates are prepared with the essential capabilities and knowledge to pursue different management opportunities in the ever-growing business world.Degree Options:Master of Business Administration in Management OnlineAverage Program Cost: $12,510U.S. News & World Report Ranking:N/AEmporia State UniversityEmporia, KansasEmporia State University’s online MBA offers three degree concentrations.Points: 3Program WebsiteThe AACSB-accredited online Master of Business Administration at Emporia State University is delivered in accelerated, eight-week courses. The curriculum provides students with a practical understanding of best practices in business management, and case study-driven coursework allows students to apply what they have learned immediately after graduation. Classes cover the fundamentals of marketing, financial management, and managerial economics as well as the use of information technology and systems in management. Students can choose from three online MBA concentrations: accounting, information systems, and marketing. Each concentration consists of 36 credit hours of study and can be completed in as few as 12 months. Electives are available in topics such as consumer behavior, electronic marketing, and marketing analytics as well as enterprise resource planning (ERP) and systems analysis and design.Degree Options:Master of Business Administration OnlineAverage Program Cost: $12,357U.S. News & World Report Ranking:N/ATexas A&M University-Corpus ChristiCorpus Christi, TexasThe online MBA from Texas A&M University-Corpus Christi requires 30 credit hours of coursework.Points: 3Program WebsiteTexas A&M University-Corpus Christi confers a 30-credit-hour online Master of Business Administration that can be completed within 12 months of full-time study. Students can pursue a general MBA or opt for a concentration in accounting, healthcare administration, or finance. Students who have earned a bachelor’s degree in business administration are required to complete only 10 courses; an additional four courses are required for undergraduate degrees in other industries. Areas covered in the online MBA include marketing management, software-based business solutions, organizational behavior and theory, managerial finance, managerial economics, accounting, operations management, and a capstone in administrative strategy and policy. Elective offerings include a course in entrepreneurship and a seminar in either social media marketing or leadership.Degree Options:Online Master of Business AdministrationAverage Program Cost: $12,313U.S. News & World Report Ranking:N/AEastern New Mexico UniversityPortales, New MexicoEastern New Mexico University’s online MBA requires 30 credit hours of coursework.Points: 3Program WebsiteThe online Master of Business Administration at Eastern New Mexico University emphasizes the development of managerial generalists rather than specialists and requires study in all major functional areas of business. The program is comprised of several components, including core classes, undergraduate common professional courses, and skill competency. Students must complete 30 hours of coursework, and topic areas include managerial finance and economics, strategic management, managerial research analysis, human resources, marketing management, information systems, production and operations management, and more. An accounting concentration is available, which requires three additional classes in attestation service, federal taxation, and financial accounting. ENMU requires a comprehensive integrative experience to be completed during the last semester of the program.Degree Options:Master of Business Administration (MBA)Average Program Cost: $8,473U.S. News & World Report Ranking:N/AFayetteville State UniversityFayetteville, North CarolinaThe online MBA from Fayetteville State University can be completed in 24 months of study.Points: 3Program WebsiteFayetteville State University’s online Master of Business Administration is an affordable, flexible way for busy professionals to achieve their academic goals. With fully recorded lectures, live lectures, and industry-best software tools, students are continuously connected to FayState’s business community. The core curriculum for the MBA consists of 27 credit hours, followed by nine to 12 elective credit hours that can be used to pursue a concentration in one of 10 areas such as entrepreneurship, business intelligence and data analytics, general business, finance, international business, healthcare management, marketing, management, supply chain management, and project management. Students generally take two classes per semester and can complete the program within 24 months. However, students can take classes on their own schedule, earning a degree in anywhere from 12 to 72 months.Degree Options:Business Administration (MBA)Average Program Cost: $7,813U.S. News & World Report Ranking:N/ALongwood UniversityFarmville, VirginiaLongwood University’s online MBA requires 36 credit hours of coursework.Points: 4Program WebsiteLongwood University’s College of Business and Economics confers an online Master of Business Administration. The flexible and accessible delivery system allows for on-campus, short-term residencies over the summer months designed to fit students’ professional and personal lifestyles. Students are required to complete 36 credit hours to graduate, including 24 credit hours in the core curriculum in topic areas such as marketing, statistics, management, information technology, finance, economics, and accounting. An additional 12 credit hours comprise the specialized curriculum for concentrations in real estate or general business. The classes are taught by tenure-track, full-time doctoral professors, and the program is accredited by the AACSB.Degree Options:Online MBAAverage Program Cost: $20,988U.S. News & World Report Ranking:#90 (tie)West Chester UniversityWest Chester, PennsylvaniaWest Chester University’s online MBA can be completed in one year of study.Points: 4Program WebsiteWest Chester University’s AACSB-accredited online Master of Business Administration is ranked among the top online MBA programs in the country based on its academic and career support services, excellence among peer institutions, and admissions selectivity. Students taking one course at a time on a part-time basis can graduate within two years; full-time students may complete the program within one year. Throughout the curriculum, students are exposed to the core business topics relevant to a global business environment. Courses are delivered asynchronously, and students must complete 10 classes to graduate. Areas of study include financial analysis and valuation, strategic management, leadership, global operations and supply chain management, marketing, economics, law and ethics, and entrepreneurship. A comprehensive exam is required to graduate.Degree Options:Master of Business AdministrationAverage Program Cost: $20,432U.S. News & World Report Ranking:#58 (tie)Fort Hays State UniversityHays, KansasFort Hays State University’s online MBA requires 34 credit hours of coursework.Points: 4Program WebsiteDesigned for working professionals, the Master of Business Administration at Fort Hays State University consists of 34 credit hours and combines core MBA coursework with a concentration. Individuals without an undergraduate degree in business administration may be required to complete an additional 12 hours of prerequisites. Students may choose from 13 concentrations such as marketing, leadership, finance, or human resource management. Throughout the program, students develop skills in the functional areas of business, learning how to apply what they have learned in order to achieve organizational goals in a global environment. Graduates have gone on to assume leadership roles in organizations such as IBM, Blue Cross/Blue Shield, the Federal Deposit Insurance Corporation (FDIC), the U.S. Department of Agriculture, and the Kansas Department of Commerce.Degree Options:Master of Business AdministrationAverage Program Cost: $14,400U.S. News & World Report Ranking:#113 (tie)University of South FloridaTampa, FloridaThe online MBA from the University of South Florida require 32 credit hours of coursework.Points: 4Program WebsiteOffered by the Muma College of Business at the University of South Florida, the online Master of Business Administration is available entirely online. The program consists of 32-hours of study, which full-time students can finish in just four semesters if they hold a bachelor’s in business administration and are exempt from taking foundation courses. Part-time students may earn their degree within three years. The program allows for flexibility and customization, and students may choose electives based on their professional goals as well as one of three concentrations in risk and anti-money laundering, data analysis, or cybersecurity. Core courses include topic areas such as financial analysis, communication, leadership and management, operations management and quality enhancement, data analytics, and social, ethical, and legal systems. Students may replace three of the five required MBA electives with one practicum experience, and capstone course is required for graduation.Degree Options:Master of Business AdministrationAverage Program Cost: $12,770U.S. News & World Report Ranking:#82Jacksonville State UniversityJacksonville, AlabamaThe online MBA from Jacksonville State University requires 30 credit hours of coursework.Points: 4Program WebsiteThe MBA program at Jacksonville State University consists of 30 semester hours of study for the general degree or 33 semester hours of courses for the accounting concentration. All students are required to take 24 semester hours of foundation courses in areas such as marketing, management, finance, accounting, and statistics, although this requirement may be waived if the student has earned an undergraduate degree in business administration. Both programs cover topic areas such as marketing administration, international business, leadership, financial management, economics, accounting information analysis, and quantitative methods for business decisions. Students round out their degree with six semester hours of electives. The program is accredited by the AACSB, and research opportunities are available to graduate students under faculty supervision. Internships help students acquire on-the-job work experience, and real-world case studies are provided through the Small Business Development Center.Degree Options:MBA ProgramAverage Program Cost: $11,460U.S. News & World Report Ranking:#147 (tie)University of Tennessee MartinMartin, TennesseeThe online MBA at the University of Tennessee Martin can be completed in 18 months of study.Points: 5Program WebsiteOpen to all students, the online MBA at the University of Tennessee Martin is cohort-based, with 20 students admitted per cohort. Most students complete the AACSB-accredited program in 18 months, and each class lasts between six and eight weeks. All coursework is delivered online, and there are no on-campus or residency requirements. Students use virtual group meeting rooms, virtual classrooms, email, and discussion boards to interact with classmates and faculty. Classes are provided sequentially and include areas of study such as strategic management, operations management, accounting, marketing strategy, managerial economics, law and ethics, corporate financial management, and organizational theory and design. Graduates develop effective leadership, teamwork, oral, and written communication skills as well as an understanding of the integrated nature of business functions.Degree Options:Online MBAAverage Program Cost: $22,116U.S. News & World Report Ranking:#34SUNY OswegoOswego, New YorkThe online MBA from SUNY Oswego requires 36 credit hours of coursework.Points: 5Program WebsiteThe Master of Business Administration program at SUNY Oswego provides students with the confidence, knowledge, and skills necessary to lead in today’s global and diverse industries. The award-winning faculty stress practical problem-solving situations through classes that are continuously evolving with the latest AACSB-accredited standards. Students complete 36 credit hours of core, elective, and directed elective study that build upon a 21-credit-hour foundation of accepted management principles, concepts, and skills. Core coursework investigates critical areas of study such as organization and management, international business, management science, marketing management, managerial finance, and management information systems. A three-credit capstone course in management policy is required for graduation.Degree Options:Master of Business AdministrationAverage Program Cost: $22,068U.S. News & World Report Ranking:#40University of North DakotaGrand Forks, North DakotaThe online MBA from the University of North Dakota requires 43 credit hours of coursework.Points: 5Program WebsiteThe AACSB-accredited online Master of Business Administration at the University of North Dakota is regarded as one of the top programs of its kind in the country. Available on-campus or entirely online, students can finish the required 43 semester credits within two years if taking classes on a full-time basis. Students complete nine credits in a concentration and 34 credit hours of required courses that are organized into four modules: Strategy, Financial and Economic Analysis, Business Analytics, and Executive Management. Concentrations are offered in government and business, business analytics, general studies, social entrepreneurship, and international business. Areas of study in this program include business intelligence, econometrics, organizational leadership and ethics, strategic supply chain management, and quantitative analysis for management decisions. Graduates are prepared for careers in the military, management and leadership, marketing, engineering, banking, accounting, and finance. UND also offers a JD/MBA joint degree.Degree Options:Business Administration (M.B.A.)Average Program Cost: $20,941U.S. News & World Report Ranking:#31 (tie)University of North TexasDenton, TexasThe online MBA from the University of North Texas can be completed in 14 months of study.Points: 5Program WebsiteThe University of North Texas offers an accelerated online Master of Business Administration degree that can be completed in as few as 14 months. Students may choose from concentrations in marketing, marketing analytics, strategic management, organizational behavior and human resource management, supply chain management, and supply chain analytics. The AACSB-accredited program is available entirely online, and students may choose from five available start dates in January, March, June, August, and October for the eight-week courses. Students may choose the pace that works best for them by taking one or two classes at a time and scheduling their education around their professional or familial responsibilities.Degree Options:Accelerated Online M.B.A.Average Program Cost: $19,452U.S. News & World Report Ranking:#31 (tie)Auburn UniversityAuburn, AlabamaThe online MBA from Auburn University requires 13 courses.Points: 6Program WebsiteRanked among the top 10 online Master of Business Administration programs in the country, the MBA at Auburn University gives students the advantage they need to succeed in a competitive business environment. Students use CANVAS, the school’s online learning platform, to access course materials, submit homework, hold questions and ask questions with classmates and professors, work with team members on group assignments, and view lectures. Students take 13 classes, including four electives and nine core business courses, and they may do so at their own pace as long as they finish the program within six years. Students who take two courses each semester may earn their online MBA within two and a half years. Areas of study include organizational leadership and change, information systems, cost analysis and systems, marketing and consumer theory, and financial analysis. Dual graduate degree options are available in information systems, industrial and systems engineering, and finance.Degree Options:Master of Business Administration OnlineAverage Program Cost: $34,125U.S. News & World Report Ranking:#9 (tie)Ball State UniversityMuncie, IndianaThe online MBA from Ball State University offers five degree concentrations.Points: 6Program WebsiteBall State University’s Master of Business Administration degree is available online, on-campus, or a blend of both, and students may customize their MBA by choosing either a general MBA or one of five concentrations in sales management, logistics and supply chain management, finance, entrepreneurship, and health economics, policy, and administration. Students may complete the AACSB-accredited program on a full- or part-time basis. Those with a business degree are required to take 30 to 33 credits of study, while those without a business degree may take up to 51 credits depending on the concentration chosen and the foundation courses needed. Electives cover in-depth knowledge of sales, marketing, management, finance, entrepreneurship, and more.Degree Options:Master of Business AdministrationAverage Program Cost: $17,160U.S. News & World Report Ranking:#13 (tie)Oklahoma State UniversityStillwater, OklahomaOklahoma State University’s online MBA can be completed in 12 months of study.Points: 6Program WebsiteOklahoma State University’s Spears School of Business confers a 33-credit-hour online Master of Business Administration that can be completed in as few as 12 months. The difference between the online and the on-campus MBA offered by OSU is that the online program does not include a three-hour professional development and case competition. Students take core coursework in project management, corporate and business strategy, management and organization theory, financial reporting, economics, marketing management, and managerial economics. Although 12 concentrations are available on-campus, only nine are offered online, including nonprofit management, marketing analytics, information assurance, human resource management, global marketing, entrepreneurship, energy business, data science, and business sustainability.Degree Options:MBAAverage Program Cost: $14,162U.S. News & World Report Ranking:#38 (tie)Kennesaw State UniversityKennesaw, GeorgiaThe online MBA from Kennesaw State University can be completed in 20 months of study.Points: 7Program WebsiteThe Coles College of Business at Kennesaw State University confers a top-ranked online Master of Business Administration that spans every business function, graduating students who are prepared for a broad spectrum of careers and industries. Known by KSU as the WebMBA, the program’s cohort structure promotes long-lasting relationships, peer-to-peer learning, and efficient student interactions. Students take courses each in a lock-step schedule for five consecutive terms, and they may earn their degree in about 20 months. Classes in the KSU WebMBA have the same outcomes and learning objectives as in-class courses, covering the same topics and using the same course materials and textbooks. Areas of study include business strategy, production and operations management, management information systems, and entrepreneurship. Students will also be exposed to managerial finance, strategic marketing, accounting, human behavior in organizations, and global and international business.Degree Options:Master of Business AdministrationAverage Program Cost: $12,639U.S. News & World Report Ranking:#21 (tie)Frequently Asked QuestionsWhat are the Career Options for an Online Master’s in Business Administration Degree?Students who earn an online MBA will have the education and skills needed to qualify for positions in a variety of industries after graduation. However, as is the case with any job, individual eligibility depends on the area in which the student specialized while earning their degree. Some of the most popular career options for graduates with an MBA include:Executives: Top-level executives are responsible for all of their firm’s activities, including marketing campaigns, budgets, and finances. Specific roles in this career path include operational manager, chief operating officer (COO), and chief executive officer (CEO).Marketing, Promotions, and Advertising Managers: These professionals work with salespeople, financial officers, and creative directors to help their organizations generate a buzz about the services or products they sell. Depending on their title, they may take charge in advertising campaigns or determine areas in which organizations can improve through comprehensive project evaluations.Human Resources Managers: Also known as HR managers, these professionals are in charge of an organization’s administrative functions. They meet with higher-ups to develop strategies for finding qualified candidates, and they lead personnel teams in the training, hiring, interviewing, screening, and recruiting new employees.Financial Managers: Financial managers are responsible for overseeing an organization’s financial activities. They may provide advice about investment opportunities and asset management to executives and develop long- and short-term budget plans. Specific roles include insurance managers, treasurers, controllers, and chief financial officers (CFOs).How Much Can You Earn in This Field?Like many careers, graduates with an MBA often enjoy higher salaries than those with only a bachelor’s degree. In addition, the type of job, level of experience, location, and education also play a significant role when determining average salary with this degree. According to a recent survey by the Graduate Management Admissions Council, companies in the U.S. are offering a median base starting salary of $105,000 to recent MBA graduates in 2018, compared to $65,000 for bachelor’s-holders and $85,000 for direct-from-industry new employees.Payscale.com reports that the average median salary by job for MBA-holding graduates can be broken down as follows:Chief Financial Officer: $146,343Project Manager: $83,024Senior Financial Analyst: $80,852Operations Manager: $77,420Marketing Manager: $76,678Human Resources Manager: $69,096Financial Analyst: $62,632What Concentrations Are Available in Business Administration?More students are pursuing online MBA degrees due to the flexibility and breadth of application in the business industry. Although programs may vary based on each individual school, graduates develop the knowledge and skills they need to obtain positions of leadership in the ever-growing world of business. The following are some of the most common concentrations that one can choose to take while pursuing an online MBA degree:Leadership: In this concentration, students learn how to manage organizations, teams, and individuals. Coursework may include human resource management, team-building, creative decision-making, and executive leadership.Marketing: In this concentration, students earn about product development and design, data mining, buyer behavior, and the foundation and best practices of marketing management. Graduates are trained for positions in brand management, acting as social media specialists who lead teams in the various industries in which they work.Entrepreneurship: In this concentration, students learn how to create business plans, present the plans to investors, and plan venture capital. Students also investigate the startup market’s economy in order to build their own companies from the ground up or act as consultants who help others sustain their own business goals.What Classes Will You Take in an Online MBA Program?Online graduate degrees in business administration build upon what students have learned at the undergraduate level. Since many programs must meet certain specifications in order to be accredited, coursework is very similar among schools and degree programs. However, classes may vary depending on the focus and history of the school in addition to the expertise and interests of the faculty. A specialization or concentration will influence the curriculum as well. Strategic ManagementA course in strategic management teaches students how to integrate decisions into different functional areas within the business industry, including how to formulate policy and strategy within a specific company. Students also use case studies as templates for developing and implementing specific management plans, and they are prepared to become effective team leaders in different types of business environments. A strategic management class is typically offered as a prerequisite that students must complete before taking advanced classes in business management. Finance and Financial AccountingMost online MBA programs offer a course in finance and financial accounting, particularly in programs that prepare students to become accountants and managers. This course focuses on modern practices in financial reporting and accounting systems, including how to interpret and evaluate the external fiscal reports of an organization. Students may also study current changes in the industry, how financial statements are structured, profitability analysis, and the cycle of accounting. Information TechnologyStudents taking a course in information technology will take a comprehensive look at issues within information systems management such as systems acquisition, support applications, best practices, and other areas they need to understand in order to be a successful social media analyst and team leader within the global economy. Students can expect to use case studies to develop solutions for existing or new problems in order to improve social, enterprise, and consumer technologies.Are There Any Professional Organizations for MBA Graduates?Both current MBA students and recent graduates can benefit from joining a professional organization. Whether you wish to learn about different approaches to business administration, make professional connections in the industry, or find out more about your specialization or career path, a professional organization can help. The following are three of the most well-respected professional organizations that maintain active job boards, provide online training sessions, host networking events, and offer other career-related services for recent graduates.National Black MBA Association, Inc.National Association of Women MBAsAssociation of MBAsEarning an online MBA opens up many doors in terms of career options. Whether you wish to run your own business or you are dreaming of a top-level position as a chief executive officer, our list of the top 25 most affordable online Master’s of Business Administration degrees can help you get started as you begin to pursue your academic and professional goals.
«MBA» redirects here. For other uses, see MBA (disambiguation).
The Master of Business Administration (MBA or M.B.A.) degree originated in the United States in the early 20th century when the country industrialized and companies sought scientific management. The core courses in an MBA program cover various areas of business administration such as accounting, applied statistics, human resources, business communication, business ethics, business law, business strategy, finance, managerial economics, management, entrepreneurship, marketing, supply-chain management, and operations management in a manner most relevant to management analysis and strategy.
Most programs also include elective courses and concentrations for further study in a particular area, for example accounting, finance, and marketing. MBA programs in the United States typically require completing about forty to sixty credits (sixty to ninety in a quarter system), much higher than the thirty credits (thirty-six to forty-five in a quarter system) typically required for degrees that cover some of the same material such as the Master of Economics, Master of Finance, Master of Accountancy, Master of Science in Marketing and Master of Science in Management.
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 (abridged coursework typically occurring on nights or weekends) and distance learning students, many with specialized concentrations.
2.1 United States
2.2 Other countries
4 Admissions criteria
5.1 Exit examination
6 Honor societies
8.2 Bologna Accord
8.3 Accreditation standards
8.5 Czech Republic
8.6 France and French speaking countries
8.14 United Kingdom
9.2 South Africa
10.8 New Zealand
10.9 South Korea
11 Program rankings
13 See also
13.1 Related graduate business degrees
15 Further reading
16 External links
The first school of business in the United States was The Wharton School of the University of Pennsylvania established in 1881 through a donation from Joseph Wharton. In 1900, the Tuck School of Business was founded at Dartmouth College conferring the first advanced degree in business, specifically, a Master of Science in Commerce, the predecessor to the MBA.
The Harvard Graduate School of Business Administration established the first MBA program in 1908, with 15 faculty members, 33 regular students and 47 special students. Its first-year curriculum was based on Frederick Winslow Taylor’s scientific management. The number of MBA students at Harvard increased quickly, from 80 in 1908, over 300 in 1920, and 1,070 in 1930. At this time, only American universities offered MBAs. Other countries preferred that people learn business on the job.
Other milestones include:
1930: First management and leadership education program for executives and mid-career experienced managers (the Sloan Fellows Program at the Massachusetts Institute of Technology).
1943: First Executive MBA (EMBA) program for working professionals at the University of Chicago Booth School of Business. Chicago was also the first business school to establish permanent campuses on three continents in Chicago (USA), Barcelona (Europe), and Singapore (Asia). Most business schools today offer a global component to their executive MBA. Since the program was established, the school has moved its campuses and is now based in Chicago, London, and Hong Kong.
1946: First MBA focused on global management at Thunderbird School of Global Management.
1950: First MBA outside of the United States, in Canada (Ivey Business School at The University of Western Ontario), followed by the University of Pretoria in South Africa in 1951.
1955: First MBA offered at an Asian school at the Institute of Business Administration Karachi at the University of Karachi in Pakistan, in collaboration with the Wharton School of the University of Pennsylvania.
1957: First MBA offered at a European school (INSEAD).
1963: First MBA offered in Korea by Korea University Business School (KUBS).
1986: First MBA program requiring every student to have a laptop computer in the classroom at the Roy E. Crummer Graduate School of Business at Rollins College (Florida). Beginning with the 1992–1993 academic year, Columbia Business School required all incoming students to purchase a laptop computer with standard software, becoming the first business school to do so.
1994: First online executive MBA program at Athabasca University (Canada).
The MBA degree has been adopted by universities worldwide in both developed and developing countries.
Business school or MBA program accreditation by external agencies provides students and employers with an independent view of the school or program’s quality, as well as whether the curriculum meets specific quality standards. The three major accrediting bodies in the United States are:
Association to Advance Collegiate Schools of Business (AACSB),
Accreditation Council for Business Schools and Programs (ACBSP), and
International Assembly for Collegiate Business Education (IACBE).
All of these groups also accredit schools outside the US. The ACBSP and the IACBE are themselves recognized in the United States by the Council for Higher Education Accreditation (CHEA). MBA programs with specializations for students pursuing careers in healthcare management also eligible for accreditation by the Commission on the Accreditation of Healthcare Management Education (CAHME).
US MBA programs may also be accredited at the institutional level. Bodies that accredit institutions as a whole include:
Middle States Association of Colleges and Schools (MSA),
New England Association of Schools and Colleges (NEASC),
Higher Learning Commission (HLC),
Northwest Commission on Colleges and Universities (NWCCU),
Southern Association of Colleges and Schools (SACS), and
Western Association of Schools and Colleges (WASC).
Accreditation agencies outside the United States include the Association of MBAs (AMBA), a UK-based organization that accredits MBA, DBA and MBM programs worldwide, government accreditation bodies such as the All India Council for Technical Education (AICTE), which accredits MBA and Postgraduate Diploma in Management (PGDM) programs across India. Some of the leading bodies in India that certify MBA institutions and their programs are the All India Council for Technical Education (AICTE) and the University Grants Commission (UGC). A distance MBA program needs to be accredited by the Distance Education Council (DEC) in India. The Council on Higher Education (CHE) in South Africa, the European Foundation for Management Development operates the European Quality Improvement System (EQUIS) for mostly European, Australian, New Zealand and Asian schools, the Foundation for International Business Administration Accreditation (FIBAA), and Central and East European Management Development Association (CEEMAN) in Europe.
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Full-time MBA programs normally take place over two academic years (i.e. approximately 18 months of term time). For example, in the Northern Hemisphere they often begin in late August or early September of year one and continue until May or June of year two, with a three to four month summer break in between years one and two. Students enter with a reasonable amount of prior real-world work experience and take classes during weekdays like other university students. A typical full-time, accelerated, part-time, or modular MBA requires 60 credits (600 class hours) of graduate work.
Accelerated MBA programs are a variation of the two-year programs. They involve a higher course load with more intense class and examination schedules and are usually condensed into one year. They usually have less down time during the program and between semesters. For example, there is no three to four-month summer break, and between semesters there might be seven to ten days off rather than three to five weeks vacation. Accelerated programs typically have a lower cost than full-time two-year programs.
Part-time MBA programs normally hold classes on weekday evenings after normal working hours, or on weekends. Part-time programs normally last three years or more. The students in these programs typically consist of working professionals, who take a light course load for a longer period of time until the graduation requirements are met.
Evening (second shift) MBA programs are full-time programs that normally hold classes on weekday evenings, after normal working hours, or on weekends for a duration of two years. The students in these programs typically consist of working professionals, who can not leave their work to pursue a full-time regular shift MBA. Most second shift programs are offered at universities in India.
Modular MBA programs are similar to part-time programs, although typically employing a lock-step curriculum with classes packaged together in blocks lasting from one to three weeks.
Executive (part-time) MBA (EMBA) programs developed to meet the educational needs of managers and executives, allowing students to earn an MBA (or another business-related graduate degree) in two years or less while working full-time. Participants come from every type and size of organization – profit, nonprofit, government – representing a variety of industries. EMBA students typically have a higher level of work experience, often 10 years or more, compared to other MBA students. In response to the increasing number of EMBA programs offered, The Executive MBA Council was formed in 1981 to advance executive education.
Full-time executive MBA programs are a new category of full-time 1 year MBA programs aimed at professionals with approx. 5 years or more. They are primarily offered in countries like India where the 2-year MBA program is targeted at fresh graduates with no experience or minimal experience. These full-time executive MBA programs are similar to 1 year MBA programs offered by schools like Insead and IMD.
Distance learning MBA programs hold classes off-campus. These programs can be offered in a number of different formats: correspondence courses by postal mail or email, non-interactive broadcast video, pre-recorded video, live teleconference or videoconference, offline or online computer courses. Many schools offer these programs.
Blended learning programs combine distance learning with face-to-face instruction. These programs typically target working professionals who are unable to attend traditional part-time programs.
MBA dual degree programs combine an MBA with others (such as an MS, MA, MEng, or a JD, etc.) to let students cut costs (dual programs usually cost less than pursuing 2 degrees separately), save time on education and to tailor the business education courses to their needs. This is generally achieved by allowing core courses of one program count as electives in the other. Some business schools offer programs in which students can earn both a bachelor’s degree in business administration and an MBA in five years.
Mini-MBA is a term used by many non-profit and for-profit institutions to describe a training regimen focused on the fundamentals of business. In the past, Mini-MBA programs have typically been offered as non-credit bearing courses that require less than 100 hours of total learning. However, due to the criticisms of these certificates, many schools have now shifted their programs to offer courses for full credit so that they may be applied towards a complete traditional MBA degree. This is to allow students to verify business related coursework for employment purposes and still allow the option to complete a full-time MBA degree program at a later period, if they elect to do so.
Many programs base their admission decisions on a combination of undergraduate grade point average, academic transcripts, entrance exam scores, a résumé containing significant work experience, essays, letters of recommendation, and personal interviews. Some schools are also interested in extracurricular activities, community service activities or volunteer work and how the student can improve the school’s diversity and contribute to the student body as a whole.
The Graduate Management Admission Test (GMAT) is the most prominently used entrance exam for admissions into MBA programs. The Graduate Record Examination (GRE) is also accepted by almost all MBA programs in order to fulfill any entrance exam requirement they may have. Some schools do not weigh entrance exam scores as heavily as other criteria, and some programs do not require entrance exam scores for admission. In order to achieve a diverse class, business schools also consider the target male-female ratio and local-international student ratios. In rare cases, some MBA degrees do not require students to have an undergraduate degree and will accept significant management experience in lieu of an undergraduate degree. In the UK, for example an HND (Higher National Diploma) or even HNC (Higher National Certificate) is acceptable in some programs.
Depending on the program, type and duration of work experience can be a critical admissions component for many MBA programs. Many top-tier programs require five or more years of work experience for admission.
MBA admissions consulting services exist to counsel MBA applicants to improve their chances of getting admission to their desired Business Schools. These services range from evaluating a candidate’s profile, GMAT preparation, suggesting the schools to which they can apply, writing and editing essay, conducting mock interviews as preparation for MBA admission interviews, as well as post-MBA career counseling.
In general, MBA programs are structured around core courses (an essentially standard curriculum) and elective courses that (may) allow for a subject specialty or concentration. Thus, in the program’s first year (or part), students acquire both a working knowledge of management functions and the analytical skills required for these, while in the second year (part), students pursue elective courses, which may count towards a specialization. (Topics in business ethics may be included at the generalist or specialist level.) After the first year, many full-time students seek internships. The degree culminates with coursework in business strategy, the program capstone. A dissertation or major project is usually a degree requirement after the completion of coursework. Many MBA programs end with a comprehensive exit examination; see below.
For Executive MBA programs, the core curriculum is generally similar, but may seek to leverage the strengths associated with the more seasoned and professional profile of the student body, emphasizing leadership, and drawing more from the specific experience of the individual students.
Programs are designed such that students gain exposure to theory and practice alike. Courses include lectures, case studies, and team projects; the mix though, will differ by school and by format. Theory is covered in the classroom setting by academic faculty, and is reinforced through the case method, placing the student in the role of the decision maker. Similar to real world business situations, cases include both constraints and incomplete information. Practical learning (field immersion) often comprises consulting projects with real clients, and is generally undertaken in teams (or «syndicates»). The practical elements (as well as the case studies) often involve external practitioners—sometimes business executives—supporting the teaching from academic faculty. (See Business school #Use of case studies and #Other approaches; and Business education #Postgraduate education generally.)
MBA Course Structure
Analytical Accounting, economics for management, organizational behavior, quantitative analysis (operations research and business statistics).
Functional Financial management, human resource management, marketing management, operations management.
Ethics Business ethics, corporate social responsibility, corporate governance.
Electives Common broad electives include: entrepreneurship, international business, management information systems, business law, market research, organizational design, negotiations, international finance, project management, managing non-profits and real estate investing. Additionally, many other elective options of a more specialized nature are offered by various institutions.
Capstone Strategy Strategic management and business leadership.
Research Research methodology and dissertation/major project.
Common MBA Specializations/Concentrations
Accounting, entrepreneurship, finance (including corporate finance and investment management), international business, healthcare administration, human resources, management information systems, management science, marketing, operations management, organizational design, project management, real estate, risk management and strategy, among others.
As above, courses begin with underlying topics and then progress to more advanced functional topics where these are applied; see aside.
The analytic skills required for management are usually covered initially. The accounting course(s) may treat financial and management accounting separately or in one hybrid course. Financial accounting deals mainly in the preparation of financial statements while management accounting deals mainly in analysis of internal results. The economics course covers managerial economics, a technical course that mainly focuses on product pricing as influenced by micro-economic theory, and aggregate-or macroeconomics, which deals with topics like the banking system, the money supply, and inflation. Operations Research and statistics are sometimes combined as «Managerial Decision-Making» or «Quantitative Decision-Making»; organizational behavior and human resource management may similarly be combined. In many programs, applicants with appropriate background may be exempt from various of the analytical courses.
As regards the functional courses, some programs treat the curricula here in two parts: the first course provides an overview, while the second revisits the subject in depth (perhaps as specializations); alternatively, the first addresses short-term, tactical problems, while the second addresses long-term, strategic problems (e.g., «Financial Management I» might cover working capital management, while part II covers capital investment decisions). An Information systems / technology course is increasingly included as a core functional course rather than an elective. Ethics training is often delivered with coursework in corporate social responsibility and corporate governance. Note that courses here, although technical in content are, ultimately, oriented toward corporate management. (For example, the principal finance course may cover the technicalities of financial instrument valuation and capital raising, but is in fact focused on managerial finance and financial management.) Technically-oriented courses, if offered, will be via a specialization.
Programs may also include (coursework-based) training in the skills needed at senior levels of management: soft skills, such as (general) leadership and negotiation; hard skills, such as spreadsheets and project management; thinking skills such as innovation and creativity. Training in areas such as multiculturalism and corporate social responsibility is similarly included. Company visits (including overseas travel), and guest lectures or seminars with CEOs and management personalities may also be included. These, with the core subjects, provide the graduate with breadth, while the specialty courses provide depth.
For the business strategy component, the degree capstone, the focus is on finding competitive advantage and the long-term positioning and management of the entity as a whole. Here, the key functional areas are thus synthesized or integrated into an overall view and the strategy course depicts how the various sub-disciplines integrate to tell one continuous story with each discipline complementing the others. Corresponding training in business leadership may also be scheduled and participation in a business simulation or game is also a common degree requirement. «Strategy» may be offered as a sequence of courses, beginning in the first part (planning) and culminating in the second (execution), or as a single intensive course, offered during the second part. Some programs offer a specialization in «strategy», others in management consulting which substantially addresses the same issues.
The MBA dissertation (or thesis in some universities) will, in general, comprise the following in some combination: a discussion of the literature, providing a critical review and structuring of what is known on a given topic, with a view to addressing a specific problem; a case study that goes beyond simple description, containing the analysis of hitherto unpublished material; a test of the application or limitations of some known principle or technique in a particular situation, and / or suggested modifications. As an alternative to the dissertation, some programs instead allow for a major project. Here (part-time) students will address a problem current in their organization; particularly in programs with an action learning orientation, these may be practically oriented. Most MBA programs require additional course work in research methodology, preceding the dissertation or project. Some programs allow that the research component as a whole may be substituted with additional elective coursework.
Many MBA programs culminate in a comprehensive exit examination. The national standardized exam known as the Major Field Test for MBAs (MFT-MBA) has been administered in the MBA programs of over 300 U.S. universities. The MFT-MBA aims to assess skills, knowledge, and reasoning ability within the domain of standard MBA curriculum. It is administered by Educational Testing Service. Another prominent option for comprehensive exit exams is the Common Professional Component Comprehensive Exam for MBAs (CPC COMP Exam for MBAs) owned by Peregrine Academic Services. Many programs choose to administer their own in-house exam rather than a standardized test.
Honor societies recognize individuals for high achievement in MBA programs. These honor societies include:
Beta Gamma Sigma – membership requires one to be in the top 20% of their program’s class after completing half of the program.
Delta Mu Delta – membership requires one to be in the top 20% of their program’s class and have a GPA of at least 3.6 after completing half of the program.
Financial Management Association – membership requires one to have a 3.5 overall GPA, or a 3.5 GPA in finance and finance-related courses, after completing half of the program.
T10 – membership requires one to have scored in the top 10% in the country on a national comprehensive MBA exam.
An MBA prepares individuals for many types of careers. According to a survey by the Graduate Management Admissions Council, 64% of year 2012 MBA graduates used their MBA to change careers. Some of the more common jobs an MBA prepares one for include:
Business analyst or strategist
Business development analyst, associate, or manager
Market research analyst
Managing Director (of a department)
Financial analyst, associate, or manager
Marketing associate, analyst, or manager
Project analyst or strategist
Product analyst, associate, or manager
Program analyst, associate, or manager
Operations analyst, associate, or manager
Main article: List of business schools in Europe
In 1957, INSEAD (French name «Institut Européen d’Administration des Affaires», or European Institute of Business Administration) became the first European university offering the MBA degree, followed by EDHEC Business School in 1959 and ICADE in 1960 (who had started offering in 1956 a «Technical Seminary for Business Administration»), ESADE and IESE Business School (first two-year program in Europe) in 1964, UCD Smurfit Business School and Cranfield School of Management in 1964, Manchester Business School and London Business School in 1965, The University of Dublin (Trinity College), the Rotterdam School of Management in 1966, the Vlerick Business School in 1968 and in 1969 by the HEC School of Management (in French, the École des Hautes Études Commerciales) and the Institut d’Etudes Politiques de Paris. In 1972, Swiss business school IMEDE (now IMD) began offering a full-time MBA program, followed by IE Business School (in Spanish, Instituto de Empresas) in 1973, and AGH University of Science and Technology in Cracow, Poland in 1974. In 1991, IEDC-Bled School of Management became the first school in the ex-socialist bloc of the Central and Eastern to offer an MBA degree.
In Europe, the recent Bologna Accord established uniformity in three levels of higher education: Bachelor (three or four years), Masters (one or two years, in addition to three or four years for a Bachelor), and Doctorate (an additional three or four years after a Master). Students can acquire professional experience after their initial bachelor’s degree at any European institution and later complete their masters in any other European institution via the European Credit Transfer and Accumulation System.
Accreditation standards are not uniform in Europe. Some countries have legal requirements for accreditation (e.g. most German states), in some there is a legal requirement only for universities of a certain type (e.g. Austria), and others have no accreditation law at all. Even where there is no legal requirement, many business schools are accredited by independent bodies voluntarily to ensure quality standards.
In Austria, MBA programs of private universities have to be accredited by the Austrian Accreditation Council (Österreichischer Akkreditierungsrat). State-run universities have no accreditation requirements, however, some of them voluntarily undergo accreditation procedures by independent bodies. There are also MBA programs of non-academic business schools, who are entitled by the Austrian government to offer these programs until the end of 2012 (Lehrgang universitären Charakters). Some non-academic institutions cooperate with state-run universities to ensure legality of their degrees.
January 1999 saw the first meeting of the Association of the Czech MBA Schools (CAMBAS). The association is housed within the Centre for Doctoral and Managerial Studies of UEP, Prague. All of the founding members of the association to have their MBA programs accredited by partner institutions in the United Kingdom or United States of America.
France and French speaking countries
In France and in the Francophone countries such as Switzerland, Monaco, Belgium, and Canada, the MBA degree programs at the public accredited schools are similar to those offered in the Anglo-Saxon countries. Most French Business Schools are accredited by the Conférence des Grandes Écoles, which is an association of higher educational establishments outside the mainstream framework of the public education system.
Germany was one of the last Western countries to adopt the MBA degree. In 1998, the Hochschulrahmengesetz (Higher Education Framework Act), a German federal law regulating higher education including the types of degrees offered, was modified to permit German universities to offer master’s degrees. The traditional German degree in business administration was the Diplom in Betriebswirtschaft (Diplom-Kaufmann) but since 1999, bachelor’s and master’s degrees have gradually replaced the traditional degrees due to the Bologna process. Today most German business schools offer the MBA. Most German states require that MBA degrees have to be accredited by one of the six agencies officially recognized by the German Akkreditierungsrat (accreditation council), the German counterpart to the American CHEA. The busiest of these six agencies (in respect to MBA degrees) is the Foundation for International Business Administration Accreditation (FIBAA). All universities themselves have to be institutionally accredited by the state (staatlich anerkannt).
Italian MBAs programs at public accredited schools are similar to those offered elsewhere in Europe. Italian Business Schools are accredited by EQUIS and by ASFOR.
There are several MBA programs offered in Poland. Some of these are run as partnerships with European, American or Canadian Universities. Others rely on their own faculty and enrich their courses by inviting visiting lecturers. Several MBA programs in Poland are also offered in English.
Several business schools offer highly ranked MBA programs in Portugal. Portuguese MBA programs are increasingly internationally oriented, being taught in English.
Spain has a long history in offering MBA programs with three MBA programs frequently being ranked in the Top 25 worldwide by several international rankings. Spanish MBAs are culturally diverse and taught in English.
There are several schools in Switzerland that offer an MBA as full-time, part-time and executive education programs. Some business schools that offer MBA programs with specializations such as Finance and Healthcare, technology management, and others. As a country with four different national languages (German, French, Italian and Romansh), Switzerland offers most of its programs in English to attract international students to the country.
Recently MBA programs appeared in Ukraine where there are now about twenty schools of business offering a variety of MBA programs. Three of these are subsidiaries of European schools of business, while the remaining institutions are independent. Ukrainian MBA programs are concentrated mainly on particulars of business and management in Ukraine. For example, 2/3 of all case studies are based on real conditions of Ukrainian companies.
The UK-based Association of MBAs (AMBA) was established in 1967 and is an active advocate for MBA degrees. The association’s accreditation service is internationally recognised for all MBA, DBA and Masters in Business and Management (MBM) programs. AMBA also offer the only professional membership association for MBA students and graduates. UK MBA programs typically consist of a set number of taught courses plus a dissertation or project.
The Financial Times in its Executive Education Rankings for 2012 included 5 African business schools.
Business schools administered as colleges within the traditional universities offer a variety of MBA programs. In addition, a few standalone business schools allied with foreign business schools exist in Nigeria.
See also: List of business schools in South Africa and League tables of South African business schools
In 2004 South Africa’s Council on Higher Education (CHE) completed an extensive re-accreditation of MBA degrees offered in the country.
Business schools of the traditional universities run a variety of MBA programs. In addition, foreign accredited institutions offer MBA degrees by distance learning in Ghana.
See also: Education in Kenya
MBA programs are offered in many public and private universities.
Students choose to specialize in one of the following areas: Accounting, Finance, Entrepreneurship, Insurance and Human Resources. The course takes 4 semesters of about 4 months each.
Main article: List of business schools in Asia
International MBA programs are acquiring brand value in Asia. For example, while a foreign MBA is still preferred in the Philippines, many students are now studying at one of many «Global MBA» English language programs being offered. English-only MBA programs are also offered in Hong Kong, Indonesia, Malaysia, Singapore, South Korea, Taiwan, and Thailand. For international students who want a different experience, many Asian programs offer scholarships and discounted tuition to encourage an international environment in the classroom.
Rankings have been published for Asia Pacific schools by the magazine Asia Inc. which is a regional business magazine with distribution worldwide. The importance of MBA education in China has risen, too.
There are now more than 50 business schools in Bangladesh offering the MBA, predominantly targeting graduates without any work experience. Most MBAs are two years full-time. Sensibly there is little use of GMAT. The Business Schools conduct their own admission tests instead although the rationale for this instead of providing introductory courses and certifications is unclear. Classes are taught in English.
There are many business schools and colleges in India offering two-year MBA or PGDM programs accredited by AICTE or UGC.
The Indian Institutes of Management are among the world’s most selective schools according to Bloomberg magazine. They offer a post-graduate degree in management. There are 20 IIMs in total.
List of MBA schools in India
Both public and private universities offers MBA degrees. Most MBAs are in full-time mode and part-time mode. All MBA degrees are conducted in English.
Singapore is South East Asia’s leading financial hub. Its competitive educational system starts from primary schools to universities and eventually post-graduate studies such as EMBA programs.
In Japan 2 business schools offer the accredited MBA degree (AACSB, AMBA or EQUIS). The concept of an MBA is still not considered mainstream as traditional companies still perceive that knowledge and learning with respect to business and management can only be effectively gained through experience and not within a classroom. In fact, some companies have been known to place recent MBA recipients in unrelated fields, or try to re-acclimate their Japanese employees who have spent years overseas earning the degree. As a consequence, academic institutions in Japan are attempting to reinvent the perception of the MBA degree, by taking into account the local corporate culture.
Pakistan first offered an MBA program outside the United States in 1955 in collaboration with the University of Pennsylvania. Now in Pakistan, there are 187 Universities/Institutes which are recognized by the Higher Education Commission of Pakistan, offering MBA programs to students and professionals.
Main article: List of business schools in Australia
In Australia, 42 Australian business schools offer the MBA degree (16 are AACSB, AMBA or EQUIS accredited). Universities differentiate themselves by gaining international accreditation and focusing on national and international rankings. Most MBAs are one to two years full-time. There is little use of GMAT, and instead each educational institution specifies its own requirements, which normally entails several years of management-level work experience as well as proven academic skills.
Graduate Management Association of Australia carries out ratings for Australian MBAs and annually publishes Australian MBA Star Ratings. The Financial Review Boss carries out biennial rankings of Australian MBAs.
In New Zealand, most universities offer MBA classes, typically through part-time arrangement or evening classes. Only two universities offer full-time programs to international students – University of Otago (Otago MBA) and Auckland University of Technology (AUT). The Otago MBA is the longer established of the two, offering a 240 points program while AUT MBA is a 180-point program.
Korean universities offer full-time and part-time MBA programs that usually consist of a two-year curriculum. The first MBA program was offered in 1963 by Korea University Business School (KUBS). In 2007, the Korean Government established «BK21,» a project that supports Korean universities in order to develop their competitiveness in the global MBA market. Korea University Business School topped the evaluation of BK21 professional business graduate schools for six consecutive years. In the meantime, only two universities in Korea ranked in the «2015 Global Top 100 Executive MBA (EMBA) Rankings» conducted by UK Financial Times (Korea University Business School and Yonsei University ranked 27th and 45th worldwide, respectively).
See also: List of United States business school rankings, Australian MBA Star Ratings, and Rankings of business schools in South Africa
Since 1967, publications have ranked MBA programs using various methods. The Gourman Report (1967–1997) did not disclose criteria or ranking methods, and these reports were criticized for reporting statistically impossible data, such as no ties among schools, narrow gaps in scores with no variation in gap widths, and ranks of nonexistent departments. In 1977 The Carter Report ranked MBA programs based on the number of academic articles published by faculty, the Ladd & Lipset Survey ranked business schools based on faculty surveys, and MBA Magazine ranked schools based on votes cast by business school deans.
Today, publications by the Aspen Institute, Business Week, The Economist, Financial Times, Forbes, Quacquarelli Symonds, US News & World Report, and the Wall Street Journal make their own rankings of MBA programs. Schools’ ranks can vary across publications, as the methodologies for rankings differ among publications:
The Aspen Institute publishes the Beyond Grey Pinstripes rankings which are based on the integration of social and environmental stewardship into university curriculum and faculty research. Rankings from a small sample of well-known schools are calculated on the amount of sustainability coursework made available to students (20%), amount of student exposure to relevant material (25%), amount of coursework focused on stewardship by for-profit corporations (30%), and relevant faculty research (25%). The 2011 survey and ranking include data from 150 universities.
Business Week’s rankings are based on student surveys, a survey of corporate recruiters, and an intellectual capital rating.
The Economist Intelligence Unit, published in The Economist, surveys both business schools (80%) and students and recent graduates (20%). Ranking criteria include GMAT scores, employment and salary statistics, class options, and student body demographics.
Financial Times uses survey responses from alumni who graduated three years prior to the ranking and information from business schools. Salary and employment statistics are weighted heavily.
Forbes considers only the return of investment five years after graduation. MBA alumni are asked about their salary, the tuition fees of their MBA program and other direct costs as well as opportunity costs involved. Based on this data, a final «5-year gain» is calculated and determines the MBA ranking position.
Quacquarelli Symonds QS Global 200 Business Schools Report compiles regional rankings of business schools around the world. Ranks are calculated using a two-year moving average of points assigned by employers who hire MBA graduates.
U.S. News & World Report incorporates responses from deans, program directors, and senior faculty about the academic quality of their programs as well as the opinions of hiring professionals. The ranking is calculated through a weighted formula of quality assessment (40%), placement success (35%), and student selectivity (25%).
UT-Dallas Top 100 Business School Research Rankings ranks business schools on the research faculty publish, similar to The Carter Report of the past.
The Wall Street Journal, which stopped ranking full-time MBA programs in 2007, based its rankings on skill and behavioral development that may predict career success, such as social skills, teamwork orientation, ethics, and analytic and problem-solving abilities.
The ranking of MBA programs has been discussed in articles and on academic websites. Critics of ranking methodologies maintain that any published rankings should be viewed with caution for the following reasons:
Rankings exhibit intentional selection bias as they limit the surveyed population to a small number of MBA programs and ignore the majority of schools, many with excellent offerings.
Ranking methods may be subject to personal biases and statistically flawed methodologies (especially methods relying on subjective interviews of hiring managers, students, or faculty).
Rankings use no objective measures of program quality.
The same list of schools appears in each ranking with some variation in ranks, so a school ranked as number 1 in one list may be number 17 in another list.
Rankings tend to concentrate on representing MBA schools themselves, but some schools offer MBA programs of different qualities and yet the ranking will only rely upon information from the full-time program (e.g., a school may use highly reputable faculty to teach a daytime program, but use adjunct faculty in its evening program or have drastically lower admissions criteria for its evening program than for its daytime program).
A high rank in a national publication tends to become a self-fulfilling prophecy.
Some leading business schools including Harvard, INSEAD, Wharton and Sloan provide limited cooperation with certain ranking publications due to their perception that rankings are misused.
One study found that ranking MBA programs by a combination of graduates’ starting salaries and average student GMAT score can approximately duplicate the top 20 list of the national publications, and concluded that a truly objective ranking would use objective measures of program quality and be individualized to the needs of each prospective student. National publications have recognized the value of rankings against different criteria, and now offer lists ranked different ways: by salary, GMAT score of students, selectivity, and so forth. While useful, these rankings have yet to meet the critique that rankings are not tailored to individual needs, that they use an incomplete population of schools, may fail to distinguish between the different MBA program types offered by each school, or rely on subjective interviews.
The media raised questions about the value and content of business school programs after the financial crisis of 2007–2010. In general, graduates had reportedly tended to go into finance after receiving their degrees. As financial professionals are widely seen as responsible for the global economic meltdown, anecdotal evidence suggests new graduates are choosing different career paths.
Deans at top business schools have acknowledged that media and public perception of the MBA degree shifted as a result of the financial crisis. Articles have been written about public perceptions of the crisis, ranging from schools’ acknowledgment of issues with the training students receive to criticisms of the MBA’s role in society.
The MBA title has acquired a mixed reputation in that the MBA curriculum tends to educate students in the «greed is good» direction based on various simplistic assumptions about human behaviour.
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Bachelor of Business Administration
Related graduate business degrees
see: Business education#Postgraduate education.
Master of Accountancy (MAcc or MAcy) / Master of Professional Accountancy (MPA, or MPAcc), a postgraduate degree in accounting
Master of Business Communication (MBC)
Master of Commerce (MCom or MComm), a postgraduate business degree usually focused on a particular area
Master of Economics (M.Econ./M.Ec.)
Master of Enterprise (MEnt), a postgraduate, technology & enterprise-based qualification
Master of Bioscience Enterprise (MBioEnt), a postgraduate degree focused on the commercialization of biotechnology
Master of Finance (MFin), a postgraduate degree in finance
Master of Health Administration (MHA), a postgraduate health administration degree
Master of International Business (MIB), a postgraduate degree focused on International Business
Master of Management (MM), a postgraduate business degree
Master of Science in Management (MSM), a postgraduate business management degree
Master of Marketing Research (MMR) a postgraduate degree focusing on research in the field of marketing
Master of Nonprofit Organizations (MNO or MNPO), the postgraduate degree for philanthropy and voluntary sector professionals
Master of Public Administration (MPA), a postgraduate public administration degree
Master of Social Science (MSS), a postgraduate degree
Master of Project Management (MSPM or MPM), a postgraduate project management degree
Masters of Management: Co-operatives and Credit Unions, a post-graduate degree for co-operative and credit union managers
Master in Sustainable Business (MSB)
Master of Real Estate (MScRE), a postgraduate degree focusing on real estate.
Master of Information Management (MIM), a postgraduate degree focusing on information management.
Executive Master of Science in Business Administration (Executive MScBA), a postgraduate degree focusing advanced-level conceptual foundation in a student’s chosen field such as operational excellence in the biotech/pharma industry.
Doctor of Business Administration (DBA), a doctorate in business administration
Doctor of Management (D.M.)
PhD in Management (PhD), a business doctoral degree
D.Phil in Management (D.Phil), a doctorate in business
Engineering Doctorate (EngD), A professional doctorate involving a management thesis and taught MBA courses in the UK