MBA: The Master of Business Administration And Your Career

Holding an MBA (Master of Business Administration) degree used to be a virtual guarantee of a good job and high paying salary.

While the benefits of holding an MBA don’t necessarily guarantee that you’ll get a better job and more money anymore, holding the designation can certainly help you in more ways than one.

I graduated from an undergraduate business program and found myself in the same classroom as MBA students during my senior year. We essentially took some of the same classes and I got to see firsthand how MBA classes operate.

Generally, classes were based on course work, case studies, exams, projects and class participation.

Verbally participating in class can be a big component of your final mark in MBA programs.

As a recruiter, I’ve worked with plenty of companies who won’t hire a new staff member if they don’t hold a certain level of education ie. a university degree.

In some companies, advancement to senior management could be at least somewhat dependent on holding a post graduate degree such as an MBA especially if other managers in the company already hold one.

In that regard, holding an MBA might help to qualify you for certain jobs that might otherwise be unattainable.

Among other things, an MBA can also help prepare you to compete in the business world by developing your communications and presentation skills, improve your ability to debate and get your point across in a business setting, and expose you to various business functions ie. finance, marketing, HR, etc.

Further it helps you to understand how each of these business functions work together and are correlated in the business world.

Understanding Masters of Business Administration (MBA)

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

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

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

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

Numerous Career Choices

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

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

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

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

Employment Opportunities Galore

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

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

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

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

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

Picking a Master of Business Administration (MBA) Program

If you have ever wanted to go to business school, now’s your chance. Many analysts believe that one of the best ways to wait out a recession is to go back to school. Graduate school can be a safe place. You can go to school on scholarships, paying almost nothing, keep your job, while at the same time sharpening your skills for the rocky future marketplace. One of the most popular types of degree to go back for is a Masters of Business Administration, or an MBA.

MBA’s are a great type of degree to sharpen all the tools in your tool bag. MBA programs vary and can fit your needs, whatever they may be. If you decided that you want a new profession and can afford to leave your work, you may want to choose an MBA program for full time students; if you need to keep your job a part time program may be better suited for your lifestyle.

Full time programs are usually structured as one or two year programs. If you have a lot of business experience already, a one year program is probably a better option, if you do not; the two year program is probably a better bet. Most employers hire from the two year programs as a rule, so if you are looking for a new job, this might be something you want to take into consideration.

If this is not the kind of program you want, then a part-time MBA program might be better. Although many campuses have part-time programs, they mostly meet in the evenings and weekend hours, thus leaving you time for family and work. However, there are also online business schools that may be more convenient. These programs are offered at a “self-pace” letting you keep your life the way it is, and sneaking your school in around it.

Along with part-time and full-time positions, there are also three different types of MBA programs. They are:

· Tradition MBA degrees-they are the most well rounded of all programs. They include courses in accounting, management, marketing, and business strategy.

· Focus Area MBA degrees-this combines the traditional MBA plus it allows you to pick an area that you wish to focus on, to better match your needs.

· Executive MBA degree-this type of program is designed for those who have a lot of business experience, and want to move up higher in the business that you are already a part of. This type of program prepares you for executive positions in the business world.

If you want to pursue a business degree, there are many options to fit your needs during this economic recession that now faces us.

For More Information

If you would like more information on how to pick the right MBA program for you, what kinds of MBA programs there are, or other business tips visit today.