MBA stands for Masters of Business Administration. This degree was based in the United States, and adapted itself to the ever growing industrialization of the country. Many business schools began using the MBA model, and it was officially first established in 1900. By the mid 1900s, many business schools in Europe began following the MBA degree model that was created by business colleges in the US. In order to be eligible to begin earning your MBA, most schools require passing the GMAT test. The GMAT is short for the Graduate Management Admission Test. It is a standardized test used to determine studentsâ€™ aptitude in business management studies, and a building block for success in earning onesâ€™ MBA degree. In addition, many universities also require some work experience, essays, personal interviews, and even a good amount of extracurricular activities.
Since business is a complex beast, there is a great deal of different aspects covered by the curriculum for an MBA. Things such as marketing, economics, accounting, business strategy, information technology, and general management are just a few of the very basics. The programs at this level are very intensive and require a great deal of skills such as the ability to write at a very high level, foreign language knowledge, computer skills, and mathematics, to name a few. Before enrolling in any MBA program, be sure the school you are looking into is fully accredited. This is an absolute must, or else you may not get all of the proper educational benefits out of your learning experience. In most cases, you must have already earned your Bachelors degree, so you want to be sure when youâ€™re ready to earn your MBA that the school you attend is top notch.
Part of successful business is knowing how to work as a team and how to deal with people face to face. When you earn your MBA, you should be prepared to participate in some real life experience. Teamwork is an absolute must, so things like how to deal with people and communication will be covered. There should be an equal balance between book learning and real world experience in order to be certain youâ€™re getting the best business education possible. Knowledge of financial reports, financial analysis, checks and balances, and auditing is important. Human resources management is extremely important as well. Knowing things like how to perform and maintain inventory control, tax law, and accounting are also key. In order to succeed in the business world, you must be well rounded and know all of the important facets of running or managing a business.
For those who earn their MBA, they will reap the rewards in their newfound careers. Studies have shown that people who have received their MBA earn a much larger salary than those who simply hold their Bachelors degree. Larger businesses look for people who hold MBAs. On average, people with an MBA earn well over $100,000 a year starting. This is over 25% more than those who hold a Bachelors degree and about 65% more than those who do not hold a college degree at all. In addition, those who have their MBA are more apt to move up within a company and in many cases eventually become a partner or owner of that company. An MBA can open up many doors to those looking to succeed in the ever growing and changing business world.Business Administration / Marketing / Technology Management / Health Care Management / Management / Accounting / E-Commerce & E-Business / Finance / Health Care Administration / Tourism & Hospitality / / International Business / Leadership / Supply Chain Management / Project Management / Entrepreneurship / Financial Management / Criminal Justice / Economic Crime / Sports Management / Information Systems Security / Information Technology / Organizational Management / Business, Marketing, Management & Business Administration / Health & Medical