Archive for November, 2009
What is an MBA or a Master of Business Administration degree? Why do people take it? To answer the first question, a Master of Business Administration degree is a professional degree in business. Typically, a Master of Business Administration degree takes two years to complete. Courses also include accounting, business law, ethics, information technology, international business, finance, and others.
As to why people take it, there are many reasons. The most obvious, of course, is that they want to experience career advancement. A Master of Business Administration degree is often needed in order to climb the corporate ladder. If you want to specialize in a certain area, change career, or open your own business, a Master of Business Administration degree will also be helpful. This degree is also essential if you want to compete in the global market or have more contacts who also share your interest and can possibly help you in your career.
With the number of specializations available, there are many avenues where an MBA can take you. Depending on your expertise, you can work on finance, accounting, sales, marketing, or human resources. You can even take up a position in information management. And because you have an MBA, you will have a middle management position in any of these fields.
MBA holders, upon experiencing career growth, also experience a 25% to 30% increase in pay. Typically, they will be earning a yearly salary that ranges from $40,000 to more than $65,000. If you proceed to take up a PhD, your salary will increase for up to $100,000 or more. Of course, pay will depend on the kind of company you work for and the number of hours you work.
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