An online master’s in business administration is a two-year program that offers a comprehensive education in business and management. Students enrolled in this program will take a variety of general business courses such as accounting, management, finance, marketing and statistics. Thanks to the broad background of a business administration master’s program, students will be equipped to work in several jobs within such industries as corporate business and government. Online master’s in business administration programs are convenient for working professionals because students will have the flexibility to attend school at home and easily fit courses into their busy schedule.
What Does a Master’s in Business Administration Cover?
A master’s in business administration is a broad program that focuses on a range of business topics, including accounting, business management, strategies, sales and organizational leadership. Most master’s degrees are general in nature, so earning one in business administration will give you a comprehensive education. Instead of concentrating on a particular area of business such as accounting, marketing or entrepreneurship, you’ll be covering all of the bases with a business administration program. This is one of the best business educations students can get because they’ll graduate with a breadth of knowledge and a range of business skills that can be applied to a number of careers. Online master’s in business administration schools also expand on the foundation of economics, finance, marketing and accounting while teaching students how to think critically and apply their problem-solving skills in various management positions. Students will also focus on ethics, leadership and diversity as they relate to the business world. Through classroom instruction and professional course work, students will finish with a variety of conceptual and analytical tools to budget, organize, plan, direct and manage individuals or entire organizations. The master’s program in business administration is much like the other specialized MBAs in that it can take one to two years (or longer) to earn your degree, depending on whether you’re enrolled in full or part time. Many online master’s in business administration schools provide professional coaching to help students develop their skills and better prepare them for work.
Getting Into a Business Administration Master’s Degree Program
Students who are interested in enrolling in a master’s in business administration program, also known as a general MBA program, should possess at least a bachelor’s degree from an accredited school. The field of study that the student pursued during his or her undergraduate work does not matter, meaning that even those with a bachelor’s degree in art, science or humanities can gain admittance into a general MBA program. However, all students should have basic business and mathematical knowledge. Those who did not earn a bachelor’s degree in business may be asked to complete several courses before applying, including:
- College Algebra
- Management Theory
- Foundations of Business Management
Who Should Pursue an Online Master’s in Business Administration?
The types of people who should consider pursuing an online MBA are typically those who already have an undergraduate degree in business or another related field, and have relevant managerial experience. Many high profile and high paying careers require graduate level degrees, such as a versatile MBA. Current and future business owners, entrepreneurs, high-end management consultants, investment bankers, hedge fund managers, and mergers and acquisition consultants will definitely benefit from earning an online MBA. Degree holders will have an academic advantage over their competition and a better grasp on operations management, accounting, finance, marketing and business strategy. Today’s MBA online programs provide students with relevant course work in a number of business topics, plenty of hands-on assignments, and significant opportunities to network with peers and professors. Online master’s in business administration degree plans typically include classes in marketing and brand management, operations and process management, accounting, applied managerial statistics, business strategy, negotiating, business ethics, and managing information assets and technology. Most students will complete a capstone project during their final quarter to showcase their knowledge and skills.
What Jobs Can an Online MBA Degree Get Me?
- Financial Analyst: Financial analysts guide companies or individuals in making investment decisions. They assess the performance of stocks, bonds, commodities and any other forms of investments. Many analysts work for banks and large insurance companies that are cautious when it comes to how they manage their finances. A financial analyst will look over your portfolio and make beneficial recommendations. Opinions can be based on a business’ commodity price, sales and expenses.
- Marketing Manager: These professionals develop marketing strategies for a company’s services or products. Marketing managers strive to find the target audience. They also handle pricing strategy as they aim to satisfy customers and increase their firms’ profits.
- Consultant: Consultants offer direct services to companies including hiring and accounting as well as analysis of existing practices. The focus of this profession is primarily on business management in such areas as human resources, business strategies, logistics, accounting or marketing.
Top Earning Industries for Jobs
- Investment Banking: $44,279-$66,259
- Information Technology Services: $44,446-$61,824
- Financial Services: $51,688-$82,477
- Information Technology Services: $48,830-$79,621
- Health Care: $81,313-$122,904
- Consultancy: $69,530-$106,932
Why Should I Go to an AACSB Accredited Program?
The Association to Advance Collegiate Schools of Business is nonprofit organization that evaluates and oversees the academic quality of bachelor’s, master’s and doctoral degree programs in business administration and accounting. Accredited institutions and degree programs have received a seal of approval from a recognized accrediting agency that signifies their quality and rigor. Accreditation is crucial to the quality of your education and your future job opportunities. The reason is because most MBAs from non-accredited institutions are not recognized by employers and the course credits may not transfer to other schools. When seeking your master’s in business administration online, you need to go to a recognized university so your degree will be accepted.
How Do I Find Online Master’s in Business Administration Programs?
To find an MBA program that meets your educational and professional goals, start with some of these resources:
- The AACSB website. Open the “accreditation” tab and click on the “AACSB-accredited institutions” section. Here you’ll find a list of accredited schools listed by name and location. Some of the biggest universities in the world can be found on this list, and many of them offer courses online.
- U.S. News & World Report, which does annual college rankings.
- Bloomberg Businessweek, which has MBA profiles, program evaluations and an interactive forum for current and prospective students.