MBA Stands for Master of Business Administration and there are many concentrations to an MBA that you can acquire. MBA programs are designed to teach you how to work in the world of business, including finance, consulting, marketing, management, entrepreneurship, leadership, healthcare, criminal justice and many more. By choosing your core concentration early, your courses could provide a means to study one area in depth and then, learn to apply strategy to problem-solve in that field. If you are looking to fast track your career and earning potential, then a great way to do this is by earning your masters degree.
*Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, Advertising, Promotions, and Marketing Managers, on the Internet at https://www.bls.gov/ooh/management/home.htm (visited March 24, 2022).
The time required for online completion of a degree and on-campus in business should be about equal at most schools for most students. The standard for a two-year degree is four semesters whether online or on-campus. Some online schools appeal to students by offering accelerated programs. Accelerated curricula condenses the requirements into fewer courses to speed up graduation. Many students can accelerate graduation by attending online, but this requires a much heavier than usual credit-load. Most colleges and universities require 36 to 54 semester credit hours to graduate with a business master's.
Online attendance can avoid scheduling bottlenecks. Students may find on-campus classes unavailable, and that can cause additional semesters of attendance. Online classes in the summer months can help online and/or traditional students accelerate graduation. Online students can take a full course load of 12 semester hours when they have time and resources available. The lower typical costs of semester hours online, as opposed to on-campus rates, can help students take more courses.
Before choosing a major there are some important facts you should know about.
Business is a wide-ranging field with many different specialties. If you have a specific career you are hoping to enter, make sure the school either offers a major in that field or a variety of classes pertaining to your field of interest. You may be able to find employment information for graduating students, which can show you how many students were able to enter the business career you’re looking at upon graduation.
This is a very important question to ask yourself. Your major should play a big part in the schools you are considering. Not every college may offer the major of your choice, so doing your homework is the first step of the selection process.
The two most prominent types of master levels in business are: Master of Arts degree (MA degree) and a Master of Science degree (MS degree). A MA degree normally requires pupils to take fewer concentration courses as well as to focus more on discovering about business. These students have a little bit more flexibility when it pertains to customizing their education to meet their occupation objectives as well as goals.
The Master of Science degree in business, on the other hand, is much less concentrated on exploration and even more targeted to a specific focus. Master of Science students, usually, focus specifically on the area of their major and have a tendency to be more career focused. Master’s degrees in the clinical field, for example, are most likely to be a Master of Science degree. You can find some sample classes for a business masters below:
About 61% of college students complete their two-year business master’s degree on time. The National Student Clearinghouse Research Center study if the question suggests that money and family income is a large factor in the rate of non-achievement. In-state public college tuition rates have traditionally been the lower range for leading schools. Depending on the college you are choosing, some colleges will have the same cost for in state or out-of-state students, whereas other colleges may offer lower costs for students that are residents. According to FinAid.org, the average cost of master's degree for students is between $30,000 and $120,000.
Many students run out of money and take reduced course loads to accommodate increased work and other money-making activities. Low per-semester credit-hour rates means more time required to complete a business degree. Reducing the per semester course load from 12 to 9 or even 6 credit hours can add a year to the time needed to complete a master's degree.
Among the reasons cited for the low rate of two-year completions were student decisions in course selection. Many students choose interesting subjects and neglect to grab key courses when available. The failure to take a required course when offered can add a semester to the completion of a major or concentration.
The student experience is a vital piece of information. The graduation rate is often a predictor of the student experience. Factors that can influence late graduation include the availability of required coursework and dropouts for financial reasons. School surveys often have information similar to customer satisfaction information on other businesses. It may be useful to see responses from recent graduates about their experiences. The student survey observations will not predict your experience, but they can lead to productive questions about the school and the business degree program.
Colleges and universities generally charge per credit hour for business courses. Multiply the cost by the number of credits you’re taking for your total semester’s financial commitment. Program fees may not be included in the stated tuition rate. If a university charges $331 per credit hour, multiply this by 9 or 12 (the number of credits you’re taking per semester). For 9 credit hours, this is $2,979; for 12 credit hours, it’s $3,972.
FinAid.org reported that the average cost of a two-year business masters program was between $30,000 and $120,000. And be aware that, even if you are comfortable with the per credit hour cost of the program you are looking at, there will be other costs you need to consider like fees, textbooks, and room and board if you live on campus.
If you are going to spend a lot of time and energy to attain a masters in business degree, you will certainly want some job placement assistance as you near graduation. Discuss this with your admissions counselor when you are considering the right program. In fact, you might want to broaden that discussion by asking about how your school handles internships and if co-op programs are available. Experiential learning can help you not only gain the skills needed to land a job, but you can also cultivate a professional network that will help you build the career you deserve.