Introduction to the MBA Degree
The Masters in Business Administration (MBA), degree program is a professional qualification in the field of business. It is a 2 year long program with 54 credits. The MBA degrees are offered in various combinations such as finance, marketing, human resources, entrepreneurship, risk management etc. Over the last 20 years, the MBA degree program has become a benchmark for other business qualifications and almost all of the entrepreneurial giants have MBA graduates working for them. These professionals have converted the normal businesses to corporations with household names.
Prerequisites and Course Structure
One of the most accepted prerequisites to an MBA degree program is a Bachelors degree in a similar denomination. However, this has significantly evolved and now even health science specialists and engineers can opt for many MBA degrees. Renowned universities require that you have an overall GPA of 3.0 to 4.0. International students are required to have good TOEFL scores and extracurricular achievements are always supported.
As far as the course structure is concerned, the first year for any MBA program is almost the same. The second year stresses on your majors and there is also a lot of research work involved. There is also a requirement of making a thesis on any given project.
Salaries for MBA Degree Holders
Since MBA is a vast field, the salary range also varies quite significantly. You can start off as a business executive with a salary of around $60,000 per annum and may go up to directorial posts with salaries of over a staggering $300,000 per annum. It should also be no surprise to find many MBA graduates at CEO and CFO positions. An MBA Degree from a renowned university also enhances the career prospects.