What is an MBA?
The acronym MBA refers to Master in Business Administration, in Spanish Master in Business Administration, a degree of postgraduate specialized in business management and administration that provides the necessary knowledge to run a company.
The MBA it can be taken all over the world and is part of the training offer of universities and business schools.
They consist of a minimum of 30 credits (Each credit supposes 10 hours of lectures, theory or practice), but they usually have 50 to 100 credits, which represents a duration of 500 to 1000 hours.
There are different types of MBAs, but most of them have a number of common subjects related to accounting, organization, business strategies, statistical methods, economics, finance and marketing. And they usually use different teaching methodologies: continuous evaluation, case method, role playing, etc.
Goals of an MBA
An MBA aims to provide the necessary tools that will allow you to carry out the management and direction of a company from a global perspective. You will know all the areas involved in the effective operation of a business and the functions to be carried out in each of them.
The competencies Fundamentals that an MBA should help you develop are: leadership, planning and management skills, team motivation, verbal and written communication, strategic vision and adaptability to change.
Types of MBA
- Full-time MBA: it requires full-time dedication, it is usually done in person and for a year.
- Part-time MBA: part-time modality that allows you to combine with work or other studies. It usually lasts for two years.
- Online MBA: It is taught through the internet and is generally taught by business schools.
- International MBA: consists of taking the training program of the master (subjects or practices) in different countries. Admission requirements tend to be more demanding. For example, accredit an advanced level in languages, specifically, in English.
- Executive MBA: program for executives who want to expand knowledge or assume positions of greater responsibility. They are carried out part-time and require a minimum previous managerial experience of between 2 and 5 years.
- MBA Specialist: modality focused on a specific specialty: marketing, human resources, finance, etc.
Who is an MBA for?
An MBA is aimed at graduates university students and active professionals of any sector or branch of knowledge. There is no specific entry profile, but people with different academic or professional backgrounds can access it.
However, the recipients may vary depending on the type of MBA. For example, the Executive MBA (MBA for executives) is aimed at people who already hold positions of responsibility but want to improve their skills in management.
Pathways and admission process for an MBA
In order to access this training, you usually need to have a University degree (degree or equivalent). In the case of official master’s degrees, which will allow you to access a doctorate, the access title must be issued by a center belonging to the European Higher Education Area (EHEA).
Also, some centers may require other requirements What professional experience, academic record or letters of recommendation.
most of business schools carry out a strict admission process which can last months, or even years, if you also want to apply for a scholarship or have to pass the GMAT (Graduate Management Admission Test) tests.
To be able to take one of the best MBAs in the world, it is not only necessary that you have a good basic training and predisposition, but also that you properly prepare all the selection processes that you will have to face.
Characteristics of the admission process:
- Before starting the selection process, you must inform yourself of the requirements and deadlines for submitting documentation. You also need advice on whether you need letters of recommendation, certificates, etc.
- Some of the most important business schools in the world demand that the GMAT as one of the admission criteria to their master’s degrees. The Graduate Management Admission Test (GMAT) is an exam that is administered in English and measures the analytical, verbal and mathematical abilities of the candidates. The GMAT is an international test, you can take it in any country in the world. Many international business schools include it among their entry requirements, others admit this exam as a complement to their own selection tests.
- Master english It is essential for an MBA, which is why some centers require the Test of English as a Foreign Language (TOEFL). This test is used to assess your knowledge of English as a non-native candidate in this language. You can take the exam in language schools and online.
- Some Spanish centers require the Business School Admission test (ADEN). It is a test in Spanish, aimed at Spanish-speaking students, which consists of 4 sections: verbal and numerical reasoning, personality, skills and professional style, and language level.
- Finally possibly do an interview. In this, the information on the application is contrasted with the details of your professional career, at the same time as it is analyzed if you meet the appropriate profile for that specific MBA. Some of the questions they can ask are: What are your short-term and long-term goals? What other schools have you applied to?, etc.
Career opportunities of an MBA
The professional future of graduates is increasingly important for business schools. Centers are paying increasing attention to their job placement results, which is why many centers are recruiting expert job counseling staff to evaluate male and female candidates upon admission and set future and future expectations. students.
Despite the economic situation and the difficulties in finding employment in all sectors, human resources specialists continue to see the MBA as the best guarantee to access the labor market, since some of the most prestigious schools boast of placing 92% of their students in less than three months.
Know the rankings of the master’s studies.