For students and professionals seeking to advance their business careers, an mba often seems like the next logical step. But it’s not for everyone, and some wonder whether the degree is worth the time and expense.
The answer depends on career goals, and an MBA may be particularly useful for people who want to work in a management capacity or at financial institutions or as company founders. Many MBA programs are also designed to meet the needs of specific industries or jobs, with new specializations in emerging areas such as sustainability and AI being added to the mix.
Applicants to MBA programs usually need relevant job experience and a high GMAT score. But some programs are moving toward a test-optional policy for their online MBA programs, and for students with strong employment histories who wish to pursue executive MBAs, it is possible to be admitted without taking the GMAT or GRE at all.
Once accepted, students immerse themselves in business theory and case studies to learn the skills needed to succeed as managers or company founders. They participate in team-based case study competitions and interact with peers, professors, and seasoned businesspeople who provide insight into the evolving challenges companies face in today’s fast-changing world of commerce.
In the long run, an MBA degree can increase a graduate’s earning potential and provide a valuable network of contacts. But it’s important for those considering an MBA to understand the full cost and benefits of pursuing one before embarking on this significant professional journey.