An MBA or Master of Business Administration is a graduate level degree awarded to students who have acquired mastery of business studies. Its prestige makes it one of the most sought after degrees. Designed as a general preparation for managerial positions, MBA prepares students for positions of responsibility in business, government and education sectors. It takes two years to earn a standard MBA. However, you can take longer to complete your study if you opt for a part time or an online MBA program.
What is Studied Within Online MBA Programs?
As an MBA student, you will study the theory and application of management as well as business principles. You will then apply the knowledge acquired in real life business situations. The programs are designed to help students acquire knowledge, management skills, leadership and expertise on a wide range of business topics. The knowledge and expertise acquired helps prepare you for opportunities in various fields such as finance, Human Resource, and information technology.
Why Study an MBA Online?
An MBA degree is generally a ticket to a higher position, a well paying job and a stable future. There are many reasons why people enroll for these programs. Here are some of them.
1. To advance their careers
Although it is possible to climb through the ranks over the years, some careers require additional study before you can advance. In addition, some institutions only promote employees who are keen on furthering their education. Earning an MBA may not be a guarantee for career advancement; however, it places you in a better position for promotion prospects.
2. When you want to change career
If you are considering changing careers, moving to another industry of just making yourself marketable in the job market, then an MBA program can help you realize your dream. When enrolled in an online MBA program, you will acquire knowledge in general in business and management expertise that you can apply to nearly any industry. You can also specialize in a particular business field, thus enabling you to work in that field regardless of your previous work experience or undergraduate degree.
3. Because you are interested in studying business
One of the top reasons why most people register for MBA programs is the inherent interest in studying business administration. If you enjoy this topic, and feel like you want to advance your knowledge and expertise, then pursuing an MBA will surely be a worthy course.
Standard Courses Studied Within an MBA
During your first year of study, you will pursue core courses that are meant to lay the foundation for the rest of your business school education. At the end of the core courses, you will have a good understanding of business concepts. While the curriculum can vary from institution to institution, you will be required to complete these core courses regardless of your specialization. These core courses include: Accounting, economics, finance, business strategy, human resources, manufacturing and production, marketing management, statistics, operations management and technology and information systems.
Career Opportunities After Completing your Online MBA Program
A plethora of career opportunities opens up upon completion of your MBA program. From senior management roles to starting your own entrepreneurial venture, the list is practically endless. Some of the most sought after career opportunities include:
1. Opportunities in investment banking
This is one of the most worthwhile and traditional career openings for MBA graduates. A high pressure job, investment banking involves raising capital and offering advice on acquisitions.
2. Management consulting
As a management consultant, you will have the opportunity of working for a consultancy firm. You can also work as a freelancer. Your key responsibilities will revolve around problem solving.
This is without doubt one of the most exciting career opportunities after an MBA program. If you are the type that loves risk bearing and working for yourself, then this might be the right route for you. It allows you to put your theoretical knowledge into practice, often resulting in a hefty result when you get it right.
Other top career opportunities that you can pursue after completing your online MBA include employment in private equities and working as an analyst.
Admission Requirements for an MBA Program
Most MBA programs base their admissions on the Graduate Management Admission Test (GMAT). In addition, you will be required to have some work experience, submit your academic transcripts and a reference or letter of recommendation. Some business schools can also offer you an admission based on your extracurricular as well as community service activities. Depending of the MBA program you intend to pursue, the type and duration of work experience can be very critical in determining your eligibility for admission.
Online MBA is gaining popularity because of its convenience. Apart from the privilege of studying from the comfort of your own home, you can also set your own schedule and study pace. However, it is important that you find the right online MBA program in order to realize your dream of advancing education and growing your career.