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MBA

A Master’s in Business Administration, or MBA, is a key education credential if you’re hoping to get promoted to an upper management or leadership role in business. MBA programs usually require a bachelor’s degree and a reasonable amount of prior real-world work experience. Certain MBA programs may require significant work experience in a business setting.

The best-known type of MBA program requires being in school fulltime for two academic years. Accelerated MBA programs, often one year or 18 months long, involve a heavier course-load with more intense class and exam schedules and less “down time” between courses. Part-time MBA programs, which typically require three years or more, often hold classes after business hours. Part-time MBA students are usually working professionals who prefer to take a lighter course-load over a longer period of time. Distance learning and online MBA programs are offered in a number of different delivery formats: synchronous or asynchronous online courses, non-interactive broadcast video, pre-recorded video, live teleconference or videoconference, or correspondence courses by postal mail or email. Many reputable schools offer online MBA programs now, but so do diploma mills. Confirm the school’s accreditation before registering for an online MBA program at an unfamiliar school.

There are always opportunities for MBA graduates in our 21st-century knowledge economy. Nearly 70% of employers who participated in the Graduate Management Admissions Council’s 2008 recruitment survey reported that they will or probably will hire new MBAs in 2009, offering starting salaries similar to those offered to 2008 MBA grads. However, most nonprofit and government organizations, as well as energy and utility firms, plan to increase average annual base salaries for new MBAs in 2009. Opportunities in new MBA specializations such as green energy, green business, sustainability, and socially responsible financial management are on the rise.