Guest Blogger: Kady Babs, Lecturer at University of Queensland
Masters in Business Administration is a postgraduate qualification for professionals who are looking for sure fire ways to progress in the business management arena. An MBA could skyrocket your earning potentials as well as widen your job prospects and opportunities. All applicants of this course are required to have at least 3-year experience in managerial roles and relevant work. Hence, it is typical to find mature professionals from various countries and cultures with a span of working and business managerial experience ranging between five to ten years.
Why take an MBA?
Students who want to advance their career and profession and change their job sector or function are those who prefer to have a Masters in Business Administration. There are various obvious benefits which could follow suit if you successful obtained an MBA:
- Create more opportunities for better jobs with higher positions or managerial functions.
- Improve and expand your career network and contact list.
- Significantly increase your salary and compensation.
Before you enrol on an MBA program, make sure you are fully ready and prepared to take on the challenges of this postgraduate course. It is not only time consuming but it also requires tons of your efforts and even financial resources. You can always find experts to give you valuable and sound advice or recommendations before applying for an MBA.
What to expect from an MBA course?
MBA programmes comprehensively cover all major facets and features of business. This includes important business aspects such as economics, banking, accounting and marketing. Teamwork and group projects are usually the key to successfully completing this course because much of the program learning and requirements are done in collaboration with other students or through group networking.
Full time MBA programmes require two years for completion while part-time courses could take five years to finish. Nevertheless, it is highly recommended to consult first with a particular university or business school since different learning institutions vary in the time frame.
Applying for an MBA
You need to directly apply to the university or business school to be qualified for a slot in an MBA program. You need to submit your curriculum vitae or CV along with an essay to complete your application. All business schools require this essay where you must include some salient information and details:
- Personal details including who you are and other essential information.
- The list of things you have already achieved in your professional career.
- The reason why you want to pursue an MBA course.
- The list of things you want to achieve after taking the course.
Most business schools require completion of the Graduate Management Admission Test of GMAT for their enrolment prerequisite along with the passing score to qualify. GMAT is generally a demanding and computerized evaluation which basically assesses the written and numerical skills of the candidate. A good skill level of the English language is likewise required to qualify for the course.
How much does an MBA cost?
MBA tuition fees are definitely expensive. The annual tuition fee for MBA courses could vary from one business school to another. Those institutes which are at the higher end of the scale could definitely charge a much higher rate which could approximately range from $60,000 to $120,000. The tuition fees could be for a yearly or two-year MBA program. Nevertheless, there are also business schools offering funding assistance such as scholarships for students with academic excellence records.
MBA is a treasured and lucrative credential which is considered a remarkable learning investment. It is your stepping stone to a more progressive and highly compensated professional career especially in the business management industry.
The Article is brought to you on behalf of Kady Babs working for Selftesttraining.