We hear the term “MBA” all the time. But what does an MBA really signify, and what can it do for your career? Discover all you need to know about how an MBA can propel you forward professionally.
What is an MBA? A Master of Business Administration, or MBA, is a general graduate business degree that teaches students technical, managerial, and leadership skills. Earning an MBA gives you valuable business acumen, expands your professional network, and creates new opportunities. It’s an ideal option to consider whether you want to accelerate your career trajectory, transition to a new industry, or become an entrepreneur
How to know if an MBA is right for you
If you’re looking for more flexibility after graduation and hoping to gain skills that all employers value, then pursuing an MBA degree is right for you. This flexible degree provides the in-demand capabilities you need to take on a managerial role, break into a new industry, or simply earn more money.
MBA programs attract applicants with work experience from all industries. While there’s no perfect time to pursue an MBA, most programs prefer or require prior experience—some more than others. For example, most applicants to full-time MBA programs have between three and six years’ experience, whereas most Executive MBA applicants have 10 or more years’ experience, according to the Application Trends Survey from the Graduate Management Admission Council (GMAC).
However, there are programs designed for recent bachelor’s graduates, as well as programs for recent graduates who did not study business as undergraduates. When it comes to MBA candidates’ undergraduate studies, more than half hold nonbusiness-related degrees (54 percent), while 46 percent have previously studied business.
Why should you choose an MBA?
When full-time MBA alumni were asked about the value of business schooL the vast majority consider their degree personally, professionally, and financially rewarding (95 percent, 91 percent, and 79 percent). According to the Association of International Graduate Admissions Consultants annual survey of MBA applicants, the top reasons candidates choose an MBA are to: acquire new skills, gain access to job prospects, change careers, access a strong network, and increase their salaries.
Additionally, graduate business degrees make you more marketable, which often translates to higher wages. Find out how much you could earn post-MBA by using our interactive salary calculator and watch this short video on why your peers chose to pursue an MBA.