What is an MBA

Administrative education has changed over the past decades. Previously, postgraduate degrees in business focused on the quantitative analysis of the areas of finance and operations; However, today they combine aspects of organizational life so that future entrepreneurs have tools that result in efficient solutions to problems presented by the globalized world and international companies. With that in mind, in this blog post we will address relevant information about MBAs, the profile of candidates to apply for a competitive business graduate degree, and the benefits it can offer you after graduation.

The Master of Business Administration (or MBA as noted by abbreviationfinder) is a postgraduate degree that extends your knowledge in the branch of business and develops your business profile, mainly focused on skills such as leadership, organization, analysis and decision-making, with the aim of be able to face the challenges of a competitive world of work . Business schools emphasize that a graduate of the Master of Business Administration seeks teamwork and demonstrates growth opportunities to achieve objectives and overcome challenges in a company.

What is an MBA

 

Most universities offer 3 types of programs: the traditional full-time MBA, part-time MBA and executive MBA program, these programs are options to consider depending on your job position and availability. That is, you should take into account if you are a recent university graduate, if you have work experience or if you are already part of the executive positions of a company. In addition, the time in which you want to take this postgraduate degree in business should be considered. There are also masters in management, which give flexibility to complete studies in one year, allowing specialization in a specific area of ​​leadership, such as finance, supply chain management, operations or marketing.

Commonly, the Master of Business Administration is a way to project in business areas of C-Suite (most important senior executives of organizations). According to the Association of International Graduate Admissions Consultants (AIGAC), 57% of prospects to study an MBA decide on this postgraduate degree to acquire new skills and knowledge about business, 49% want to study this degree to have access to new opportunities work and change their career path, 48% of prospects hope to advance their career within the industry in which they work, 38% want to increase their salary and 35% wanted to opt for an MBA to create a positive impact on the society.

If you have already made the decision to do an MBA it is important to familiarize yourself with the requirements that are requested to carry out an adequate application such as the score of standardized tests such as GRE / GMAT, CV profile, academic trajectory, essays and letters of recommendation. Some applicants who are young and do not have as extensive work experience as other candidates, the main recommendation is to establish concrete long-term plans to demonstrate the areas of opportunity that will be developed in the studies and that these generate a positive impact on society. Bruce Delmonico, Assistant Dean of Admissions at Yale School of Management mentions that all applicants to a master have strengths and weaknesses and the best way to generate a competitive profile is to compensate for the deficits that exist among all students.

Speaking specifically of improving your profile to correctly enhance your application to a competitive MBA, you should consider the following factors.

  1. Define correctly what your plans for the future are: This is important so that you can know specifically what field of work you want to focus on and what new knowledge you need to develop or acquire to reach those objectives.
  2. Make a list of business schools whose candidates resemble the profile you want to develop: Segmenting universities is a very useful tool to channel efforts according to your strengths and realities. That is, to be able to work correctly on your profile you have to know your trajectory and transmit it to a university that specializes in what you want to develop, a university specializing in MBA consulting is not the same as a university in finance, private equity or care of the Health.
  3. LinkedIn and your profile: Just as you have to update your profile data since some universities look for this information, you should consider searching, analyzing and, possibly, even contacting current students or graduates of the business schools you want. This search can give you an idea of ​​the gaps that you have to start covering with skills and knowledge that make you stand out from the rest of the applicants.
  4. Balance between your life habits and work well-being: Being responsible for making decisions that will determine the success or failure of organizations you need to have a healthy body and mind.

Other complementary recommendations to highlight your profile is to have a high score in standardized tests, develop leadership skills that can be demonstrated, negotiation skills, take certifications or complementary courses to your career, generate online credibility, learn languages, travel, international work experience , volunteering, generating social impact projects, leading projects or important work teams in a company and managing digital technological tools, such as Excel.

Having a master’s degree in business administration can be a determining factor that directs you directly to executive positions that require critical and analytical thinking skills essential to an organization. Elissa Sangster, CEO of Forté Foundation, mentions that an MBA from a good business school can help graduates enter highly competitive sectors such as Silicon Valley in technology companies or the Wall Street financial industry; Other examples of people who went through this Master are Doug McMillon, the president and CEO of Walmart and Sheryl Sandberg COO of Facebook.

In conclusion, studying a Master in Business Administration can generate substantial benefits, based on the fact that, having a postgraduate degree in business, your schooling becomes more relevant for a globalized market. Also your business profile and your credibility are factors that determine job growth opportunities, for example: A promotion in a company can result in a salary increase that could not be obtained without an MBA. In addition, studies in the area of ​​consulting, finance or operations can make you creditor to projects that significantly influence a company, and the relationships that were made in the studies can positively influence the way you perform at work, including starting your own business. Thus,If your dream area is business administration, an MBA is a great opportunity to get there. Go ahead and study it!