The Master of Business Administration (MBA) is a particularly well-known master's degree. In principle, this is nothing more than the classic Anglo-Saxon master's degree in business management. Business-related qualifications and management skills are an integral part of all aspects of working life. No other building studies have such a high reputation:
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A global survey by the Graduate Management Admission Council among 6.223 MBA students from 107 states revealed that 77% of them expect the MBA to improve their career opportunities. In times of globalization, the good reputation is just as much an advantage as the language skills and intercultural competence provided here.
It qualifies for demanding activities and, thanks to its generalist orientation, increases the flexibility to switch between individual companies, fields of activity and branches of industry. Finally, an international network of contacts is also beneficial, the greater the benefit the more renowned and successful the graduates are. However, the MBA is no longer a guarantee for a top position with a corresponding salary. The reasons for this are mainly the inflationary growth of partly dubious programs as well as the content that does not always meet the quality requirements. As a result, many companies are now distrustful.
Graduates of two-year programs receive the highest salaries, according to a survey by the British accreditation body AMBA, followed by graduates of a one-year full-time study. On the other hand, part-time students have to accept a slight drop in salary. The graduates of the Fernstudien MBA programs formed the final light. The salary of graduates of leading business schools in Europe is currently between 95.000 and 145.000 US dollars. The highest salaries are paid by the financial services sector, followed by business consultancy, the computer industry and industry. The annual average salary of American Top School graduates is slightly above the European level. The annual MBA ranking of the Financial Times provides information on how many students of each school tested had found a job after three months.
If you want to make an MBA, you usually need to complete a course of study in any discipline. The subject matter of an MBA program usually covers all the areas of responsibility that are relevant to a management position. These include micro- and macroeconomics, finance, accounting, marketing, production, logistics and human resources. In addition, management techniques, statistics, mathematics or decision theory are taught, but also integrative courses such as project management or communication are on the curriculum. In addition to these compulsory courses, the students can choose between different specializations courses (electives), which often incorporate current developments that deal with specific topics or specific economic regions and sectors. Practice reference and interactivity are emphasized.
However, especially for the more prestigious programs, the requirements on the applicants are high, a cancellation rate of 50% is the rule. Access requirements are an optimal presentation of the Application, very good academic achievements as well as the personal suitability of the prospective buyer. In addition, special emphasis is placed on professional experience, some Executive MBA programs even require long-term management experience. However, there are also MBA programs, which are mainly aimed at university graduates (junior MBA programs).
In exceptional cases, deficits in academic education can be compensated for by a particularly qualified professional experience, or, conversely, excellent studies can compensate for a lack of professional experience, especially if the applicant has already completed an apprenticeship or carried out company-related projects and internships. Important access requirements are also good results at GMAT and the TOEFL test, as MBA programs usually take place in English.
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