What is MBA all about?
The Master of Business Administration (MBA) is an internationally-recognized degree designed to develop skills required for career in business and management or a managerial career in the public sector, government, private industry and other areas.
It is currently one of the most popular professional degree programmes in the world as a MBA graduate is highly valued and highly in demand.
Due to the popularity of the programme, there are over 2500 MBA programmes offered worldwide, including full-time, part-time and online programmes, making the programme widely available for working professionals who would like to boost their career with a MBA degree.
What are the major fields in MBA?
Most MBA programmes include a core curriculum of subjects and these core courses cover various areas of business such as accounting, economics, marketing, management and operations in a manner most relevant to management analysis and strategy.
MBA in Accounting will deliver the technical skills and business concept you would get in a traditional MBA, but adds an emphasis on leveraging financial analysis.
This is important to help in the decision making process at a strategic level and is suitable for graduates who have a Bachelor in Accounting especially those who want to expand their knowledge and get more credits to sit for the CPA exam (30 credit hours beyond a bachelor’s degree will be needed for this).
Studying MBA in Accounting will enable you to develop the a well-rounded business skillset and the depth to truly become an accounting expert.
MBA in Economics is a business qualification that stresses on the Economic aspects of business, which differs it from a Master in Economics, which focuses entirely on the Economic studies.
It is ideal for people who wants to be in a decision making role within a business and it helps students to develop a well-rounded concept of how markets run and how to optimize business decisions in light of latest market trends.
Students will also learn how to investigate the risks and potentials in investing in both local and foreign markets and make an informed decision based on their research.
The MBA in Marketing does not limit the degree holder to pursuing marketing careers alone, the skillset can be put toward dozens of other career options, including consulting, entrepreneurial careers and general management as it teaches skills you use in any field, like mathematics, communication, analytical and management.
Other than that, classes in marketing cover topics such as advertising, branding, market research and marketing globally and online, among many other topics.
The MBA in Management is a comprehensive business degree, focusing on crucial management functions, such as managing people, finance, operations and sales and marketing.
It can teach you how to best recognize and solve problems while overseeing any number of tasks and workers as it covers many topics that are involved in a traditional MBA such as ethics, finance and human resources from the perspective of a manager.
Individuals who earn an MBA in Management will find a wide range of possible careers especially in corporate leadership positions, such as management analysts, chief executive officers or human resource managers.
An MBA in Operations commonly offers a global perspective on industry trends and an awareness of any financial regulations or political uncertainties that could impact an organization.
It is concerned with converting materials and labour into goods and services efficiently using the best practices in the industry.
In this MBA, students will be provided with comprehensive knowledge of productivity, process analysis, quality management and product variety to prepare them to improve the operational systems, policies and processes to support an organization.
What are the skills needed in this field?
As an MBA holder often aims to be in a leadership and managerial position in the corporate, there are a wide range of skills that will be useful in this field. To be able to take up a job in these positions, you might want to prepare yourself with these important and useful skills:
Leadership skills are very important in this field as you will need to lead people who are working under your supervision.
Leadership can be seen in two aspects, formal and informal. While formal leadership comes from the authority of being in charge and informal leadership focuses on the interpersonal side of things, both aspects of leadership are equally important to be a truly influential leader in this field.
Good communication skills are important in this field as you must be able to get your ideas across clearly and convincingly in order to advance your career.
A bad communication skill will be an obstacle in the workplace as messages and information could not be delivered in an effective and efficient way and it will greatly affect your working performance.
Creative thinking is one of the fundamental skills that allow us to perform well in all fields, including business. Creative thinking skills are not only important in this field, it is also important when it comes to personal development.
Thinking creatively will enable you to come up with inventive ideas for new ventures or a fresh angle on established practices within a company.
It involves the identification of areas of need or opportunity and taking the first steps toward innovation.
Critical thinking is important in all fields of study, including Business Administration.
No matter which field you are in, critical thinking skills are important to help you analyze situations and make informed decisions.
In this field, you will need to be able to understand problems, think critically and devise solutions to problems related to different aspects of a business and gain insights that can bring significant improvements in the organization’s processes.
What are the entry requirements and qualifications?
There are many institutions in the United States offering MBA corses. To study an MBA programme in the United States, you will need to fulfill these requirements:
How long will I be studying this programme?
An MBA programme is available in full-time, part-time and online programme, generally, the duration of studying an MBA programme will be as follows:
|MBA||1 - 2 years|
How much does it cost to study MBA?
The cost of studying an MBA course depends on your institution and the type of the programme. Here’s the estimated fee of studying MBA in United States:
|Programme||Estimated Fees (RM)|
|MBA||107,000 - 141,000|
What are the job opportunities?
An MBA degree prepares students to advance their career to hold a position in a managerial position. There are many jobs that you can get with an MBA degree, including:
- Chief Technology Officer
- Chief Executive Officer
- Human Resources Manager
- Computer and Information Systems Manager
- Financial Manager
- Investment Banker
- Marketing Manager
- Sales Manager
- Operation Manager
- Investment Fund Manager
- Health Services Manager
Which recognised universities offer MBA in United States?
MBA is available in different majors and it is one of the most popular courses globally to enhance your knowledge and advance your career.
You can check out these top universities to study an MBA programme in United States:
- Stanford University
- Massachusetts Institute of Technology
- Harvard University
- University of Pennsylvania
- Columbia University
Stanford University is an international institution, enrolling students from all 50 US states and more than 90 other countries. Stanford Graduate School of Business offers a two-year, full-time MBA, as well as a large range of dual-degree MBA programmes and it has built an international reputation based on its innovative programmes throughout the years.
Massachusetts Institute of Technology (MIT)
MIT is ranked 2nd in US University Rankings 2019 and 4th in World University Rankings 2019 and is currently organised into five different schools.
It is home to around 1000 faculty members and over 11000 undergraduate and graduate students. MIT Sloan offers a range of MBA programmes, with two full-time MBA variants: the flagship two-year MIT Sloan full-time MBA program and an immersive one-year full-time Sloan Fellows MBA programme.
Harvard University is the oldest university in the United States and is regarded as one of the most prestigious in the world with a ranking of 6th globally and 1st in the US.
Harvard Business School is consistently ranked amongst the best business schools in the US and the world and is a dream of every student who wishes to purses MBA in the US. It offers a two-year residential MBA programme to prepare students for leadership roles.
University of Pennsylvania
Established in 1881, University of Pennsylvania-Wharton School was the first school of business in the world. It comprises of 10 academic departments and 20 research centres and provides education to about 5000 students in undergraduate, master, and doctoral students.
In addition to a choice of over 19 majors and 200 electives, they also offer a wide range of dual-degree options.
Columbia Business School
Columbia Business School was established to provide business training and professional preparation for undergraduate and graduate students and has one of the most selective admission process among top business schools.
The MBA program curriculum prepares students to lead, build and manage companies while instilling an awareness of the societal effects of a business decisions.