An MBA degree is a common stepping stone to C-suite positions in large businesses and a valuable asset for aspiring entrepreneurs.
It’s a certification that many Fortune 500 leaders have, like Walmart president and CEO Doug McMillon, who obtained his MBA at the University of Tulsa in Oklahoma, and Facebook COO Sheryl Sandberg, who graduated from Harvard Business School in Massachusetts.
College students and young professionals frequently ask whether attending a top graduate business school can prepare them for a successful career.
However, while many notable business executives hold an MBA, it is hardly a golden ticket to fame or money. According to MBA experts, excelling in business demands initiative, innovation, and work regardless of academic background.
“There’s nothing about having an MBA that doesn’t demand effort from that point onward,” says Elissa Sangster, CEO of the Forté Foundation. This nonprofit organization encourages women to pursue MBA programs and ambitious professional ambitions.
According to Sangster, an MBA from a reputable business school can help students break into highly competitive business sectors like Silicon Valley tech firms or the Wall Street financial industry. In addition, she says that prospective students who want to work in major cities far away from home might often benefit from completing their MBA at a nonlocal school.
“When it comes to business school, there are so many fantastic options that will require you to pack up your apartment or home and relocate across the nation,” Sangster adds. She does, however, agree that MBA candidates with family obligations or who want to continue at their current company may not want or need to attend a national B-school if it means traveling across the country. Instead, she believes that attending a regional B-school can aid career enhancers who are more concerned with developing skills than adding prestige to their portfolio.
For students interested in pursuing an MBA but are unsure whether it is a suitable fit, here is a summary of what they may expect from an MBA program.
What Does ‘MBA’ Stand For? For
A Master of Business Administration degree is commonly abbreviated as MBA, and recipients typically quit attending school after getting it.
Those who want to do business research, on the other hand, may want to obtain a Ph.D. in business or management. Such students can pursue a Ph.D. or a Doctor of Business Administration, abbreviated as a DBA.
How Long Does It Take to Earn an MBA?
A full-time MBA program normally lasts two years, while several expedited full-time MBA programs last only one year. This style of fast-paced MBA is prevalent, particularly at non-US business institutions.
The length of part-time and executive MBA programs varies according to how many credits a student enrolls in each academic semester or quarter. Both executive and part-time MBA programs are designed for working individuals who want to continue their education while working full-time.
Standardized test scores, resume, academic records, essays, and reference letters are all common components of MBA applications.