Today’s world is truly amazing and filled with bits and pieces of information for us to process and marvel at especially when it comes to academics, degree programs, educational and other means of learning and improving one’s self, with the MBA or masters in business administration being one of the most popular and sought out degrees today

This is probably not the first time you’ve heard those three letters or acronym that stands for Masters in Business Administration, but have you ever wondered what it means, what it represents and why, out of the man internationally recognized Professional and academic certificates out there, it’s the one you hear most about?

We decided to save you the hassle and answer all the questions you might have about this coveted degree, what it is, its different types, learning modules, accreditations & last but not least its benefits.

Starting with the basics, let’s first explore what exactly is an MBA exactly because knowing the meaning of something can go a long way towards understanding what it is. For starters, let’s break down three-letter acronym into what it fully stands for which is Masters in Business Administration

One definition provided by bschool.org is that its a masters degree that aims to provide its students with the theoretical & practical needed in the different functions of business management & its related SUbjects

Another way to define the MBA courtesy of mba.com is that its a general graduate business degree that provides its students with information in a variety of  different fields such as operation management, Information technology, human resources & finance among others

With the previous two definitions, it becomes clearer what would be the most common elements of most Business administration degrees out there. Now that we know what it is you’re probably wondering what’s the history behind it.

2) History of the MBA

So when did it all begin? The first sign of the MBA and the start of its history was back in 1881. The initial form of the MBA came in the form of Wharton school of business, an institution that was the brainchild of Joseph Warton, an Industrialist and the founder of the school.

Wharton’s objective behind establishing the school was primarily creating a business education program that would graduate future pillars of state & leaders.

The first form of the MBA program as we know it today was first presented by Harvard Graduate school of business administration back in 1908 with a body of 33 regular students, 47 other special ones & 15 faculty members.

3) Learning modules of the MBA

So what are the different types of Mba programs out there and what’s the difference between them?. Most MBA programs typically fall into one of these categories or MBA learning modules, which are

 

  • Accelerated MBA programs

Unlike its brethren the Full-MBA, which we will get to next, the accelerated MBA is more intense in terms of course load per semester, classes and overall schedule 

The intensity of this type of program comes for the shortened time period of this program rather than the knowledge within.  Accelerated MBAs are traditionally a year rather than the 2 years of a Full-time MBA  and shorter 3 to 10 days between semester vacation.

 

  • Full-time MBA programs

The Full MBA programs traditionally extend for 2 academic years, approximately 18 months. The experience that full MBA students receive is quite similar to a standard university experience. Traditionally the students of this module enter with a good amount of real-life & professional experience.

 

  • Full time & Part-time executive MBA programs

The full-time executive MBA shares the same duration as the full MBA, but is more targeted and tailored towards individuals with traditionally 5 or more years of experience.

The Part-time executive MBAs the same as the full-time ones also require prior knowledge before starting them. They do however differ from the full MBAs in terms of duration as unlike the 1 academic year of the full MBA  usually can take up to two years. 

 

  • Dual Degree MBAs

As the name statuses, dual Mbas are great for those on a budget and want to secure more than one graduate degree, including the MBA without incurring an extra cost.

Get a Dual and Triple accredited MBA degree and boost your career with our MBA options, starting at 2,500$

4) Benefits of an MBA Degree

Now we move into one of the most important questions you should be asking yourself, which is what benefits will you get from pursuing an MBA degree and becoming an MBA graduate?. Well here are some of them.

  • Advancing your management skills

When thinking of MBA candidates, students, or graduates most of us envision either seasoned executives, working professionals or owners of businesses. 

However, the courses offered by MBA programs are beneficial for anyone looking to either hold a managerial or executive position or start up his own business one day. Some of the skills you’re gonna learn like organizational behaviour, management skills, marketing products are bound to prove useful. 

As per Harvard’s report on their 2019 MBA class, 74% of them are seeking employment, 94 of them have received a job offer & 88% of them accepted these offers

  • Lots of Specializations

MBAs are not just about business and managerial modules, subjects or specializations, sure there’s a set of basic courses of nature in every specialization but there’s more than meets the eye. 

An MBA as a business degree has more than one specialization in almost every field from finance, marketing, supply chains to more distant specializations such as Information technology & human resources. 

  • Better Pay, opportunities and career prospects

One of the cardinal benefits of obtaining an MBA degree is that it provides you with job security which from our COVID 19 experience, is definitely a bonus. 

Not only that but it also opens you up for better  and higher positions and might well be the determining factor between you and another candidate getting accepted

Financially the degree is equally effective and lucrative. As per the Qs job & salary report, the average annual salaries of MBA holders across the world range from 77,200 United States dollars to 102,100 united states dollars with 18,800 dollars from Germany to Switzerland.

  • You can get one online

One of the great things we experience today is the accessibility of data and the same applies to a degree in business administration. 

Nowadays you don’t need to commute to the nearest business school or university to get the degree, you can secure one from the comfort of your home with one of the many online MBA programs servicing many international students out there.

Earn a better salary and secure your job from home with an accredited MBA double or triple degree for 2,500$ 

  • Expand your network

Nowadays the likeability of you securing the job position of your dreams or getting a great course or work practice recommendation is more likely to come from a member of your network. 

Being part of a community of MBA students and professionals allows you to exchange gems of knowledge &  loads of professional experience giving you the chance to grow and expand your experience even more.

5) MBA Cost

Now that you know what are the benefits you would reap from an MBA degree let’s explore how much it would cost. 

The elements that determine the cost of an MBA degree such as a number of credits you’re gonna take per semester, the college where you’re getting it from, learning modules and others will make the cost vary.

A top MBA from the best business schools or universities in the US like Harvard & Stanford can cost above 120,000 $ and 70,000 to 80,000 if its form one of the b-schools. In Europe, the prices range from 100,000 to 110,000 even if it’s a prestigious European business school thanks to the many 1 year MBA programs they have out there.

6) MBA Accreditation

An MBA degree is as good as the entity it was credited by, this does not mean that an MBA degree holds no value on its own, so what exactly is accreditation?

An accreditation, according to BusinessBecause.com, is a seal of approval and acts as a proof that the degree providing business school or university has followed and adhered to the standards and practices set by the accrediting body, ensuring the quality of the received education

Here are some of the most sought out MBA accrediting bodies worldwide

As for why accreditation is such an important element of an MBA degree, here are a just some of the why that is

  • Its a Symbol of a high-quality reputation for Employers
  • Allows the school to be recognized Internationally
  • Can help you get financial aid & Allows for transfer credits
  • Acts as an indicator of quality and assure that your degree is from a High-Quality Faculty

So there you have it, all the information you might need before you dive into your MBA learning journey. We hope this piece has been beneficial for you and inspired you to take that amazing start that amazing journey of MBA learning

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