A Masters in Business Administration is one of the most popular management degrees and students apply to different types of MBA programs each year. This degree gives students the fundamental knowledge of business across areas like finance and accounting, marketing, etc., along with the development of necessary leadership and soft skills.
The top career motivations for MBA students include salary increase, managing people, working internationally and promotion to senior positions. MBA empowers the students with various skills that are valuable and necessary if the candidates wish to start their own business, switch function, industry and location or progress within the company.
Pursuing an MBA abroad provides a lot of opportunities for the candidates to network with the teaching staff and past alumni. Moreover, the teaching style focuses on gaining practical knowledge and helps the students in learning the different ways to deal with new-age business problems and gain an edge on advanced business techniques.
An average MBA Class today is filled with candidates from a variety of professional backgrounds which makes the MBA a degree that is open to all. However, the students have to meet certain criteria to get admitted to top B schools.
The student must possess a strong academic background in both the higher secondary and higher education along with a high GMAT or GRE cutoff score which is higher than 600. Also, a good language test score is mandatory to prove the English proficiency of the candidate which can be supported by a high score in IELTS or TOEFL.
A good statement of purpose will help the candidate stand out from the crowd as this consists of pointers that highlight the reasons that state that the candidate is perfectly fit to study MBA from a specific college and how their studies will impact the world in the future. A CV and letters of recommendation are also a boon when applying to top MBA universities.
Having real work experience helps in understanding the course easier and provides a basis on which to learn more about management and business. Most accredited business schools will require a minimum of 2 or 3 years of work experience from the candidates who apply for an MBA.
However, ranked business schools in Canada, the USA and Europe require a minimum of 4 to 6 years of full-time work experience after the completion of the candidates’ bachelor’s degree. Early career MBA programs consider just 1 or 2 years of work experience from the candidates. Some schools offer deferred admissions which means that the candidate can apply without prior work experience.