Definition of MBA

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MBA (Master of Business Administration) is a professional higher education program allowing obtaining a Master of Business Administration. This is the most popular international business qualification respected throughout the world. This program aims to build skills of high-professional manager with a broad and versatile knowledge in business management.

Qualification appeared in the U.S. about 90 years ago. Today, more than 1000 business schools, universities and institutions around the world offer MBA.

The main reason why students want to get an MBA is a real prospect of higher wages, as well as opening new opportunities in their careers. Salary of MBA graduates is $ 60 – 90 thousand a year. Quality program develops students’ personal skills and at the same time expands their knowledge in management in context of global business, enhances prospects for future career and helps showing professional potential. Many of students receiving an MBA view their qualification as a sort of ‘pass’ to occupy high position in a large company.

MBA program is intended primarily for people graduated from college and working in their specialty. It helps them gaining experience and understanding the acquired knowledge is not enough already. Getting an MBA allows its holder not only filling lack of education, but also greatly accelerating career growth, or changing profile of activity.

MBA program attracts both successful business owners and managers of large companies, banks, recent students seeking to make a successful career in business.

To enter MBA program, one should have a graduate degree in any field and some experience in business, as well as pass an interview and testing. As a general rule, applicants must pass a general GMAT exam, which is a series of tests. Students with a native language other than English are also required to pass a Test of English Language-TOEFL.

In most business schools, school year starts in September and October. Despite the fact filing deadline comes on April or May, it is better to obtain an application form and all necessary documents at the beginning of calendar year you plan to start studying.

Every year, students feel more difficult to choose a school, as they are becoming so numerous. Britain has more than 114 schools offering MBA degrees. While choosing institution and program, one should ascertain: whether an institution is accredited by a national or international organization? If we are talking about schools in the UK, it is the Association of MBA (AMBA), in the USA – American Assembly of Collegiate Schools of Business (AACSB).

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July 2022
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