What Is An MBA

For over the past five decades the Master of Business Administration degree has been a staple in the business world as far as graduate education is concerned. Generally purposed for the working professional, an MBA is a unique degree which is applicable in a broad range of career choices. Even though it is specifically designed as a business degree, an MBA provides an interdisciplinary education of the disciplines of finance, economics, psychology, and sociology. Students take their comprehensive knowledge of these disciplines and learn how to apply them to business specific practices such as operations management, accounting, finance, marketing, and human resources.
Essentially, the difference between an MBA and a typical master's program is that one provides a broad range of education that is relevant but not unique to business professions, while the other allows one to further specialize in their field of choice, usually related to one's undergraduate education. Therefore, it is not necessary a degree created as a "next step" for anyone whose undergraduate education was business related, in fact, an MBA is a degree that is suitable for a diverse range of academic backgrounds. Although those without and business education may be required to complete a few prerequisite courses before enrolling in graduate courses within an MBA program.
An MBA can be a very beneficial in terms of career mobility and advancement. Those with MBA degrees are more likely to qualify for higher up positions in management, consulting, finance, operations, and human resources. Often continuing education is necessary to move up the corporate ladder and justify one's ability to handle greater responsibilities in the workplace. Common titles of MBA graduates include Chief Executive Officer, Senior Analysts, Operations Director, Financial Controller, or Project Manager. Earning an MBA can also provide someone with the credentials necessary to qualify them for a higher income. According the College Board's study "Education Pays 2010," of full-time workers over the age of 25, those with professional degrees, such as MBA or law degrees, made more on average than those with bachelor's, master's, or doctoral degrees. Professional degree holders had a median earning of $100,000 annually, which was about 80 percent more than those with bachelor's, 49 percent more than those with master's, and 9 percent more than those with doctoral degrees.