By DeVry University
The acronym MBA stands for Master of Business Administration. This type of versatile graduate-degree primarily focuses on helping you build business skills, but it may also incorporate classes in other disciplines if you choose to add a specialization to your MBA degree. An MBA program can also help you develop leadership skills, which tend to be geared toward the world of business management but can still prove helpful in other fields.
In this article we'll explore the different applications of an MBA and how you can prepare to start earning one through an MBA degree program. You'll learn about these topics and more as we explore the following sections:
Preparing for an MBA Degree Program
Preparing for an MBA degree program is fairly straightforward. Typically, you need a bachelor's degree from a university-recognized institution and will likely need to meet other graduate admissions requirements as well, such as having a minimum undergraduate GPA. You should also plan to complete an application process for graduate school in order to be admitted into an MBA degree program, even if you attended the same institution for your undergraduate degree.
Beyond applying and making sure you meet the requirements, it's good practice to brush up on any business skills you’ve picked up during your career or in your undergrad program, especially if it’s been some time since you finished your bachelor's degree.
Pros & Cons of Earning an MBA Degree
Depending on the career path you have in mind, earning an MBA degree can prepare you to pursue a variety of roles, as well as hone your business skills. Compared to specialized master’s degrees, such as a Master’s in Accounting, an MBA degree takes a more generalized approach to business education. This means that it covers a wide range of business concepts and skills, making it easier for you to apply these concepts across many different business career paths.
Those who already have a particular career path in mind may want to add a specialization to their MBA degree. A specialization gives you the opportunity to broaden your understanding of a specific discipline while still retaining the core business curriculum that makes an MBA what it is. By earning an MBA with a specialization, you can advance your skills in a niche area of study. For instance, you could earn an MBA with a Specialization in Finance, which would give you the chance to develop business skills in addition to high-level finance skills.
In general, there are not many cons to earning an MBA degree. Advancing your education is a great way to gain new insights, explore current technologies and network within your industry.
You should, of course, consider whether an MBA is a better fit for your career goals compared to a more specialized master's degree in your chosen field. For instance, if you earn an MBA with a Specialization in Finance, you are choosing a program with a blend of business and finance classes over a Master's Degree in Finance, which would be more exclusively geared toward that discipline.
Cost of an MBA Degree Program at DeVry
The cost of earning an MBA degree can vary depending on the school you attend, and whether or not you have incoming transfer credits, scholarships or grants. To learn more about the cost of earning an MBA degree at DeVry and to gain more insight into our scholarship offerings, visit our tuition and financial aid page.
Alternatives to an MBA Degree
An MBA isn't your only option if you're interested in business or a related field. Some other alternatives to an MBA include master's degrees in specific fields such as accounting, project management or marketing. At DeVry, we offer MBA degree specializations in each of those fields, and more.
Here are some degree paths that you might consider in lieu of an MBA degree:
Earn Your MBA Degree at DeVry
Interested in earning your MBA? At DeVry, you may be able to earn your MBA in as few as 10 courses*. We also offer 10 different MBA specializations to help you expand your skills in business while learning additional tools that can help you as you prepare to pursue the career you want. Classes start every 8 weeks.