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In this globally evolving world and job market MBA programs are considered to be one of the esteemed academic achievement/degree offering maximum financial benefits. 2 year full time MBA might yield you an average of 64% more wages as compared to those without an MBA degree. Not only this, it shows the impact on wages of even those who opted for part time programs of up to 55% increase in their salaries. Bureau of Labor statistics also agrees that positions that need a MBA degree in the job market, including Chief Executives, Marketing Managers, Financial Managers and Sales managers; have been in their list of top-25 highest paying jobs consistently. An estimated 22% of growth rate for Master’s degree holders is predicted.
These programs have tenure of two academic years/18 months of terms. Students here are a bit different as compared to other classes. It is so because they are the ones with considerable prior hand on work experience. They also attend classes in a regular manner in the weekdays like any other university students.
MBA - AcceleratedThese programs are different from two-year programs. One can consider them to be one degree higher than the crash courses. Here the load of syllabus, classes and examination is far more intense than regular MBA classes. It is so because they practice fewer intervals in the program tenure and also amidst semesters as well. They do not observe three to four months summer breaks. They have seven to ten days off instead of the luxury of three to five weeks vacation between two semesters as compared to a regular curriculum.
MBA - Part-timeThese programs are known and widely popular amongst working professionals who choose light course load; though it may last for a longer period. These programs usually have classes on weekday evenings, or post routine working hours during week days. Three years or more is the tenure for such part time programs.
MBA – ModularSyllabus is similar to that of part time programs. They are usually use lock step method or set of courses where coursework is packaged together in slabs ranging from one to three weeks.
MBA - Executive Programs (EMBA)Specially crafted and designed syllabus helps to meet learning requirements; especially for professionals at managerial and executives levels. The beauty of the program is that it allows students to attain an MBA or other business related graduate degree in a span of two years or less and that too while these professionals are employed full time. Applicants here hail from varied type and size of organization, profit and nonprofit, government and non government. These students here are the only lot who usually carry more than 8-10 years of working experience as compared to regular MBA students. Considering the popularity of the EMBA programs, the Executive MBA council came into existence in 1981 for enhancing executive education.
Distance Learning MBA – Online MBAThis the most widely acclaimed, popular and flexible program. Here the classes are conducted off campus. A variety of learning patterns and formats make it more famous. Enlisted are some of them:
It is one of its kind education system where the distance learning and face to face learning are blended in a manner which meets the syllabus requirements; keeping the time line in mind. There programs are opted majorly by working professionals who face time constrains for attending regular full time or part time programs.
Dual Degree - MBAThese are the programs offering combined degrees. I.e. MBA combined with maybe a MA, MS or a Juris Doctor. Dual programs are known for its cost effectiveness. They considerably cost less as compared to attaining 2 degrees. The basic idea here is to save time and cost involved while attaining two separate degrees.
Few schools might also show interest in knowing the interest and involvement at extracurricular activities in order to assess the applicant’s contribution in future to develop the school's diversity and do value addition to the student body as a whole. The process and belief of consideration and prioritizing the aforesaid qualifications tend to vary from institute to institute. One may come across schools which do not pay due regards to GMAT scores and some online MBA programs which do not require GMAT as eligibility for getting admission. Some schools show the tendency of accepting work experience instead of undergraduate degree.
Institutes too have their own set targets for balancing the crowd and managing the funds. This leads them to make decisions with regards to male-female ratio and local-international student ratios.
Program dynamics like type and length of work experience may prove to be crucial aspects for admissions. A few of the programs demand five or more years of work experience to be eligible to get admissions.
Recent mantra which has flourished is Do MBA without GMAT. Students have started looking out for MBA universities in USA without GMAT or best online MBA no GMAT required. This happens to be a revolutionary decision by the authorities and stake holders in education filed.
Analytical | Functional | Specialization |
Accounting | Financial management | Entrepreneurship |
Economics, | Human resource management | Finance : Corporate finance and investment management |
Operations Research | Marketing management | International business |
Organizational behavior | Operations management | Management information systems |
Statistics | Management science | |
Marketing | ||
Operations management | ||
Organizational design | ||
Project management | ||
Real estate | ||
Risk management and strategy |
GRADUATE BUSINESS DEGREE | |
Title | Description |
Master of Accountancy (MAcc or MAcy) | Postgraduate degree in accounting |
Master of Professional Accountancy (MPA, or MPAcc) | Postgraduate degree in accounting |
Master of Bioscience Enterprise (MBioEnt) | Postgraduate degree focussed on the commercialisation of biotechnology |
Master of Commerce (MCom or MComm) | Postgraduate business degree usually focused on a particular area |
Master of Economics (M.Econ.)/M.Ec.) | Postgraduate degree in Economics |
Master of Enterprise (MEnt) | Postgraduate, technology & enterprise-based qualification |
Master of Finance (MFin) | Postgraduate degree in finance |
Master of Health Administration (MHA) | Postgraduate health administration degree |
Master of International Business (MIB) | Postgraduate degree focused on International Business |
Master of Management (MM) | Postgraduate business degree |
Master of Marketing Research (MMR) | Postgraduate degree focusing on research in the field of marketing |
Master of Nonprofit Organizations (MNO or MNPO) | Postgraduate degree for philanthropy and voluntary sector professionals |
Master of Project Management (MSPM or MPM) | Postgraduate project management degree |
Master of Public Administration (MPA) | Postgraduate public administration degree |
Master of Real Estate (MScRE) | Postgraduate degree focusing on real estate |
Master of Science in Management | Postgraduate business degree |
Master of Social Science (MSS) | Postgraduate degree |
Masters of Management: Co-operatives and Credit Unions | Postgraduate degree for co-operative and credit union managers |
Technology Management Masters of Business Administration (TMMBA) | Postgraduate degree for managing technology businesses |
EXECUTIVE | |
Title | Description |
Executive Master of Science in Business Administration (Executive MScBA) | postgraduate degree focusing advanced-level conceptual foundation in a student’s chosen field such as operational excellence in the biotech/pharma industry. |
DOCTORAL | |
Title | Description |
Doctor of Business Administration (DBA) | Doctorate in business administration |
Doctor of Education (EdD) | A PhD equivalent doctorate program |
Doctor of Management (D.M.) | Doctorate in business management |
PhD in Management (PhD) | Business doctoral degree |
D.Phil in Management (D.Phil) | Doctorate in business |
Individuals with an MBA degree have that extra edge over other while being considered for Career advancement openings at their organization. The MBA degree is widely known and famous for increasing career opportunities and decreasing the time taken for enhanced salary and benefits. Being an MBA indicates or reflects a person’s dedications and hard work which enables them to achieve careers in top management.
ConvenienceMBA degree happens to be a single dynamic turnkey to all the requirements of any of the industries or area of study. It is a common business degree which will enhance the skills of students pertaining to any business in this world for any specific field. MBA degree holders are equipped enough to hold top notch jobs or become successful entrepreneurs. The degree educates about the managerial expertise along with the intricacies of successful business. All these put together makes the candidate a right choice for prospective employers.
No turn downLately we have observed the meltdown with serious and unpredictable consequences making us learn a lesson in the job world called RECESSION. It showed us how the demand of workers and jobs can increase and decrease dramatically during meltdowns. MBA degree proved to be the only academic degree which provided sustainability as it is useful for designations and skills with respect to various fields. It provides a kind of job security to MBA degree holders. In this trend of globalization businesses will come and go, grow and fall, but for managing any of these situations, they need managers to manage the show which only MBA degrees may offer.
ExpensesThe cost associated with the MBA degree happens to be one of the highest in the academic world as compared to other degrees. Students opt for Loans and end up paying more with interest on such loans. Hence this is a flag raiser for the all aspiring students that one you enter the Degree program, it is mandatory for you to perform up to the mark. On attaining the degree it will help you to earn high in order to forfeit the cost incurred on education.
Distance LearningThere is a increasing trend of online or distance learning MBA programs. Convenient and flexible for students, these programs lack at providing networking and face-to-face contact which are the vital components for earning an MBA degree. We all know that globalization needs; networking and being able to deal with people in person. Online or distance learning are conducted through Podcasts, chat rooms and Emails and miss out to provide personal interaction. Personal contacts and networking may be considered to be the key to personal skills development.
Graduate Management Admission Test is the exam considered as admission test for nearly all MBA institutes in the United States of America. It is one of the renowned best forecaster of success for graduate business programs. This entrance exam mainly evaluates logical and reasoning subjects, organized forecast and groundwork; of course. Well prepared candidates with a knowhow on handling verbal, mathematical and analytical writing questions tend to score more as these are the basics on which they are tested on.