For individuals interested in business or those who have already established their career in business, an MBA program is just as rewarding as for new students. MBA programs have become increasingly popular due to all the benefits they offer.
What is an MBA Program?
A Master of Business Administration (MBA) program is a graduate-level degree. This degree is often geared towards current and aspiring business professionals. An MBA is a Master’s degree that offers a broad business-based education. This program is designed to teach exceptional skills that will help you succeed in any business area. This degree covers everything from economics and marketing to financial management and social responsibility.
Why Choose an MBA program
The economy has become fast-paced and technology-driven. Employees are often seeking workers with a background in business, and an MBA gives you just that. Companies will always require employees who have critical thinking, analytic and communication skills. An MBA program teaches you to make informed decisions based on the data presented. You will also be taught how to analyse and interpret said data to ensure you make the correct decision.
With an MBA, you have an increased earning potential. Job promotions are amongst the other benefits that come with having an MBA. If an employee has an MBA, they are more likely to be placed in a management or leadership position. Obtaining an MBA could become costly; therefore, it is best to work and study part-time to pay off the study debt.
What is the Difference Between MBA and Business Management
A business management program and a Master of Business administration program might sound the same. It is not. The two programs and degrees differ entirely, and both teach different skills and topics to ensure a position in your desired career.
The differences:
Business Administration:
- Teaches subjects such as economics, accounting, human resources, marketing, management and finance.
- Gives a broad overview of the most common areas of business.
- Students are being prepared to take leadership roles in businesses.
- Provides students with the ability to experience a wide variety of areas of education related to business.
- Students study core business subjects
- Degrees in administration are considered higher level than degrees in management.
Business Management:
- Considered the art of leading people and teams.
- Teaches topics such as leadership, human resources, management and personnel operations.
- The program focuses more on analysis, planning, and organisation of business operations.
- Areas of speciality are human resources, marketing, hospitality management and finance.
- Does not offer many elective courses.
- Considered a people-centric area of business.
- Considered a lower-level degree.
Pros of the Top MBA Programs
It is up to you to decide if an MBA program is worth the time, money and effort. An MBA won’t benefit someone seeking a career in a different field. There are different MBA degrees, and not all of them are equal. It is important to obtain your MBA from a high ranking accredited facility. This will ensure that your degree is valued.
Pros of an MBA:
- A higher salary range
- New possible job opportunities
- Improvement of your professional skills
- An MBA can be specialised to fit your exact goal
- You can start your own company from scratch
- MBA programs accept older students
Can I study MBA Online?
Going back to school is no option for full-time professionals looking to enhance their careers with an MBA. Thankfully, there are online MBA programs that can be completed part-time. This allows all professionals the opportunity to obtain their masters on their own time.
Schools That Offer the Top MBA Programs Online:
- Temple University
- University of Florida
- Maryville University
- Arizona State University
- Jack Welch Management Institute
- Stevens Institute of Technology
The Top MBA Programs
With MBA programs being in such high demand, they are found at almost any university. With such a quantity of programs, it could be hard to sniff out the best ones. Choosing the best MBA program will be beneficial for your career and your financial future as well. Knowledge is power; therefore, finding an MBA program to educate you to your fullest is imperative.
The Top 5 MBA Programs:
- The University of Pennsylvania:
This University offers a Wharton MBA. The program equips you with the leadership skills you need to advance in your career.
- Columbia Business School:
An MBA obtained through the Columbia Business School prepares individuals to lead in the rapidly changing business world. The curriculum builds a foundation for success in all fields.
- Harvard Business School:
This well-known business school offers a two year MBA program with a general management curriculum. The curriculum is focused on real-world practices.
- Kellogg School of Management:
The Kellogg School of Management offers one year and two year MBA programs. Each program focuses on different skills to ensure you advance in your career and reach your goals.
- Stanford Graduate School of Business:
Stanford Graduate School of Business offers multiple MBA programs. Each program is tailored to meet a specific set of needs. As a result, the programs are equipped to teach students all the necessary knowledge and skills to advance their careers.
The Bottom Line
An MBA can be highly beneficial to advance your career. Choosing to complete an MBA program will not only provide you with a better financial future but equip you with the skills you need to succeed in the business world.
