What is a Master’s of Business Administration program?
The Master of Business Administration (MBA) is an internationally-recognized post-graduate degree, designed to develop the skills required for careers in management of businesses. The value of the MBA, however, is not limited strictly to the business world. An MBA can also be useful for those pursuing a managerial career in the public sector, government, social enterprise and other areas.
Most MBA programs include a “core” curriculum of subjects; such as Finance, Accounting, Economics, Marketing, Strategic Management, Human Resource Management, Supply Chain Management, Logistics, and Operations. It also has elective courses that allow students to follow their own personal or professional interests. Some schools require that MBA candidates complete an internship at a company or an organization, before bestowing of the degree, which can lead to significant post-program job opportunities.
- General Management
- Innovation Management
- International Management
- Information Technology
- Strategic Management
- Supply Chain and Logistics
- Human Resource Management
- Executive MBA
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Best Places to Study MBA
MBA in the US – The USA is currently considered to be the Mecca for Master’s in Business Administration Program. The global curriculum is a perfect amalgamation of innovative teaching methodology and practical experience in diverse business and management scenarios. The most crucial factor that makes US B-schools stand apart is the premium professional exposures that the students get. In addition, all the top companies like Apple, Microsoft, Google, Amazon, IBM, General Motors, General Electric, Deloitte, Mercer, Ernst & Young, JP Morgan Chase, Goldman Sachs, Caterpillar, Flextronics and many more are headquartered in the US. Another advantage for students is that, with the academia-industry interface, they are exposed to ever-expanding job opportunities and networks, to catapult their career.
MBA in the United Kingdom – After USA, UK is the second most sought-after destination to pursue graduate studies in Business and Management studies/ MBA. The main attraction of pursuing MBA from the UK is the fact that the programs are real value for money as they are of shorter duration, typically one year and therefore affordable.
MBA in Australia – Australia is the third most popular destination among students to pursue higher education. What sets Australia apart from other nations is the fact that one fourth of Australia’s population is non-native and constitutes of people belonging to other countries. Australia’s multiculturalism is a distinguishing feature that is a strong combination of various indigenous cultures. Also, being a secular country, it is open and welcoming to international students.
Some other popular options are Canada, France, Spain, and Singapore.
Eligibility criteria differ for every program and B-schools:
- An undergraduate (Bachelor degree) – of 3 years or 4 years from a well-recognised, accredited university is a prerequisite
- Most of the accredited programs require candidates with professional experience of minimum 2- 3 years. The average class profile of the B-schools differs widely amongst different universities. Some top schools have an average class experience of 5 + years while some others may have 7-9 years. Also, there are options of Fresher’s MBA – where no work experience is required and a student can enter immediately after completing his bachelor’s.
- Business and Management programs from the top and high ranked B-Schools require good Graduate Management Admission Test (GMAT) scores to have a realistic chance of admission, apart from a sound professional profile.
Depending on the work experience level, students completing their MBA degrees can pursue a career in Management and Consulting, Marketing, Operations, IT, Finance and Banking and many other areas. Students can also start an entrepreneurial venture after a Management degree.