The array of education options for the business-oriented student is astounding. From traditional four-year college programs to on-line degree offerings and short training courses, higher-learning institutions have responded to the growing demand for business training with an abundance of options.
If a career in a business-related field is on your horizon, majoring in business through a bachelor of the arts program is a sure way to excel in the corporate world upon graduation. Masters of Business Administration (MBA) programs also offer a way to gain new expertise, connections, and increase your competitiveness for top positions.
The Benefits of a Business Major
A business major offers a comprehensive syllabus that touches on economics, accounting, statistics, and marketing. Business majors chose a specialty in an area like accounting, finance, or management by their junior year. Despite the structured curriculum, business majors still have the chance to pursue other interests through electives.
Most classes that are required for majors frequently ask students to analyze real-world problems and create solutions. Students work in teams, and present their case studies to the class for feedback and criticism. This interactive style of learning fosters critical thinking and communication skills. Classes also expose students to technological applications and methods applicable in many professional settings.
A business degree offers access to a host of job opportunities depending on your interests. Business majors typically flock to positions at corporations as financial analysts, market researchers, and public relations representatives. However, business majors also work for nonprofits, government agencies, and international institutions. The skills gleaned from a business major are needed around the world, for everything from market research on new products to managing an international development program.
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If an MBA is your ultimate goal, keep in mind a business major is not necessarily an acceptance clincher. MBA programs accept students based more on grades, experience, and test scores than their undergraduate major. However, a business degree can prepare you for the GMAT and provide a solid foundation on which to advance your expertise.
Calculating the Risks and Gains of Getting an MBA
Most people who graduate with a degree in business will inevitably broach the possibility of pursuing an MBA. There are many options to choose from; at present there are 2,600 MBA courses offered by approximately 1,400 universities in 125 countries.
The salary benefits of an MBA are dazzling. The average salary for MBA graduates in 2006 was $92,360 and the signing bonus was $17,603, according to an article in the Baltimore Sun. Salaries for MBA graduates rose by 27 percent during the past eight years, illustrating the increasing appeal MBA holders have to employers. Many firms recruit on campus, making the job search easier.
MBA programs tend to attract a broad range of students--from fresh-faced college graduates to mature professionals looking to revitalize their careers. The diversity of students ensures graduates have access to a far-reaching network they can draw upon after graduation. MBA schools also work to cultivate these relationships, holding regular networking sessions, keynote speeches from successful alumni, and on-line spaces where alumni exchange inside job information.
MBA students also graduate with international mobility. Armed with an MBA, graduates find it fairly easy to obtain high-level jobs overseas or to switch from one international employer to another.
There are risks involved with seeking an MBA, of course. A high tuition may not result in an immediate return on investment. Think of that status MBA as a long-term investment, not a short-term payoff. People in the midst of careers or raising families may also feel the time commitment is demanding. However, on-line programs offer one way to pursue an MBA part-time.
According to a poll conducted by the MBA Alliance, almost eighty percent of chief executives across the nation said earning a graduate degree in business is crucial to acquire key management positions in a typical U.S. company.
When deciding to pursue an MBA, it is important to see how the degree fits into your overall career goals. Whether you chose to pursue a business major, MBA degree or both, the right program will put you on the track for long-lasting career success.
Sources:
"Baltimore Sun""CNN.com"
"College Board"
"MBA Alliance"
