More and more people are considering completing their academic training with MBA. If you are one of them, and you have doubts about requirements, modalities, or which one to choose, continue reading, we will try to clear up all your doubts.
What is MBA degree meaning, and what is it for?
MBA is a postgraduate course focused on business administration and management. It emerged in North American universities under the name of Master of Business Administration and from there, it quickly spread to the rest of the world, especially Europe. In Spain, it is usually translated as a master’s degree in business administration and covers everything from the organizational management of any company to skills typical of managerial profiles such as decision-making, team management, or leadership.
MBAs are designed for university graduates who want to expand their training and develop their professional career in the business world, therefore, they are useful for joining medium and large companies, especially in senior management positions, and also to run a small family business.
They are taught in business schools and specialized centers and the study programs are oriented towards practical training, so it is common for students to have to face the resolution of real cases.
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What types of MBA Master's Degrees exist?
If you are considering studying MBA, you should know that, although they are all grouped around the same acronym, there are several modalities depending on the study plan or how the classes are taught, for example.
Below, we explain the most common ones.
- Types of MBA: according to the study plan
- Executive MBA.
Aimed at active professionals seeking to expand their training. This type of master’s degree requires participants to have a university degree and prove experience in management positions of between 2 and 5 years. They are usually taught part-time and offer different schedule possibilities.
- International MBA.
Part of the classes or practices are taught in a different country, so it is necessary to have a high level of languages.
Specialized MBA. They focus on a specific sector, such as marketing, data analysis, project management, HR…
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- Types of MBA: depending on the time of dedication
- Full-time MBA (full-time MBA).
This modality usually requires that students dedicate all their time to studying, that is, it cannot be combined with a job, so the duration is less than two years. From the beginning, students are distributed into workgroups or cohorts.
- Part-time MBA (part-time MBA).
In this case, students can combine a master’s degree and work. Of course, it has a longer duration, which can even exceed seven years.
- Types of MBA: online or face-to-face modality
- Online MBA.
It is the alternative resorted to by those who need greater flexibility both in terms of schedules and geographical mobility. Students usually set the pace of the classes, since in many cases these are recorded, and the same happens with the delivery of assignments.
- Mixed MBA (blended MBA).
It combines the online modality with the in-person modality, so that students can follow the classes online but must also attend face-to-face sessions with a certain frequency.
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Who can do MBA?
MBAs, as postgraduate studies, are aimed at people who have a university degree and, in some cases, also professional experience.
Keep in mind that this type of specialized, practical, and business-oriented training seeks to train the leaders of organizations or their key departments, so it is essential to have certain background that guarantees that you can occupy a management position.
In any case, if you are considering taking MBA, check the access requirements of the specific training that interests you, since each center and each type of MBA may require different ones.
Contact with IBAS: +201000498154
What is studied in MBA?
Regardless of the university or center where it is taught, the first objective of any MBA is to offer a global vision of the business world. For this reason, although each one has a different study plan depending on their specialization, some subjects or subjects are usually common:
- Economic environment and global markets.
- Company finances.
- Accounting.
- Strategic management and competition.
- Marketing and market research.
- Marketing digital.
- Human Resources.
Another factor that MBA training programs usually share is the importance of soft skills, such as leadership, strategy, or people management, and practical training aimed at solving real cases.
Benefits of studying MBA
In a work scenario as competitive as the current one, training becomes, without a doubt, an excellent ally when it comes to multiplying the number of opportunities.
Studying MBA guarantees a whole series of advantages:
- It provides a high professional qualification to the students, who acquire important knowledge, which becomes a differential value.
To this knowledge, we must also add the development of skills such as leadership capacity, essential in managing work teams or making decisions.
Those who have completed MBA usually occupy relevant positions within organizations, so their salary is much higher than average.
It contributes to creating an important network of contacts and professional relationships between people with similar interests in the business world.
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Access requirements to study MBA
If you decide to complete your training with MBA, you should keep in mind that there are a series of common requirements to take it, which vary depending on the type of master’s degree you want to study:
- It is necessary to have completed a university degree or degree and have the corresponding degree.
- It is essential to have a high level of English since in some business schools you have to pass the GMAT (Graduate Management Admission Test), an exam in that language in which the candidates’ knowledge is assessed. In other centers, students are subjected to the TOEFL (Test of English as a Foreign Language).
- Regardless of whether you have to pass an entrance test or not, it is important to have a good academic record.
- You need to justify professional experience, preferably in management positions. Keep your resume updated and make sure it includes truthful information and has a careful design. If you need help, here you will find the keys to making a good resume.
- In some centers, they ask for a letter of recommendation that can be written by a superior, a colleague with an important position, or even a professor.
- You can also add a motivation letter in which you explain the reasons why you are interested in that specific MBA.
- Duration of MBA master’s degree
- The duration of MBA is not stipulated, it varies greatly from one to another. However, the usual thing is that it is taught in two years, although there are intensive courses that last only one.
- On the other hand, part-time programs can last longer, depending on the number of subjects in which the student enrolls each quarter or semester.
Contact with IBAS: +201000498154
How to choose MBA
Once you have decided to pursue MBA, it is time to evaluate the available options, a task that is not always easy considering the wide range that exists.
Factors that you should take into account:
1- Define objectives, motivations, the time you can dedicate to studying, and what budget you have.
2- Assess which field you want to specialize in and check study programs to determine which ones will give you the most in that regard.
On the Internet, there are different rankings and specialized blogs that rate the most interesting MBAs based on different criteria.
3- Before making the final decision, visit the study centers and try to talk to their students to find out about their experience.
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Conclusion
pursuing MBA can help you develop your career in the business world and improve your working conditions. If you are interested in business, meet the requirements, and want to expand your network of contacts, it is an option worth considering.
If you are thinking about studying MBA with specialization, we encourage you to choose Come and study at VERN and IBAS, with specialized faculty and innovative methodologies that will help you achieve your academic goals.