|
If you are considering an advanced business degree, there are a variety of options available. At the top of the list is the Master of Business Administration in all its various forms. It was the first advanced business degree when Harvard itroduced it in 1908, and it is still the most prominent. Today, the Master of Business Administration with its many specialization options is taught in a number of different forms from traditional to night classes to online learning. In the past, it was difficult to get an MBA with a normal work schedule as it was a normal college program requiring two years of daytime study. However, these days, more and more people are entering the workforce out of necessity or for experience between their Bachelor's and Master's. So, now, a good number of students are adults working full time. In response, the program in now also offered in a variety of flex plans, including online classes, night classes and accelerated programs. The program is broken into two parts. The first covers core subjects like accounting, economics, finance, operations, and corporate strategy. Following that, the student dives into a specialty like international business, real estate, or human resources. It can sometimes be hard to track the difference between a specialized MBA and other Master's level business degrees. For example, what's the difference between a MBA with a Healthcare Specilization and a Masters of Healthcare Administration? There are two key differences. One, the MBA Healthcare focuses on the business aspects of healthcare management like accounting, finance, and marketing, while the MHA empahsizes healthcare policy. More importantly, the MBA is more flexible than the narrowly focused MHA. A person with a MHA might have trouble getting value for that degree if they tried to work outside of healthcare. They MBA is a broad application business degree. That versatility is valuable in a changing workplace and economy. That Harvard MBA can run you up to $200,000 today, however the average program runs $60,000. Oh, and add on to that cost countless hours of the student's life. Some no-name online schools offer the program for as little as $7,000. Other online schools can charge weighty amounts. They understand the market value of the convenience. Beyond the pride of accomplishment in getting a Master’s degree, statistically, the MBA is financially rewarding. For example, a professional with a MBA can make significantly more than a professional of the same experience who only has a Bachelor of Business Administration (BBA). Statistics show that a BBA with 5-9 years of experience commands a median salary of $51,376 compared to a MBA with 5-9 years of experience who earns a median salary of $68,989. In the end, there are a number of strategies out there when it comes to education in business at the post graduate levels. They all require time and money. In terms of versatility the MBA outweighs other more specialized degrees. In an uncertain market with an uncertain future, that versatility makes the MBA the bust option out there. For more information on Business Administration Salary check out my blog.
Related Articles -
Master of Business Administration, MBA, Business Administration Salary, BBA, Business Administration,
|
