MBA


What is Business Administration

Masters of Business Administration (MBA) includes an array of subjects and careers. This is probably the most fancied course among students who aspire to become top tier executives in corporations. Also one of the most expensive and sought after courses, management is fancied for its excellent ROI and relevance in a globalised world. But management courses are no more restricted only to business administration. They also comprise of non-profit management, advisory, academia and public management.

For those who wish to get back to their working life soon, the 1 - year program offered by many European universities would be ideal. On the other hand, most of the US universities offer the traditional 2- year program. Depending on the convenience and affordability of the students to stay away from the job market, MBA is divided into different categories such as -

  • Full-time MBA : It is for the students who are willing to leave their job and dedicate their full time to the week day classes and studying.
  • Part-time MBA : It is for those who wish to enhance their career by acquiring managerial skills while still being employed. It is also known as Evening or Weekend MBA program as the classes are held during the weekends.
  • Executive MBA : It is designed for the experienced and working executives, managers, entrepreneurs, and other business leaders.
  • Global MBA : It aims at providing international business experience to its students. The classes are conducted in different classroom environment, at times different countries and cultures too.
  • Dual MBA : It involves adding an additional Masters degree to the MBA course


Requirements to Study Business Administration

Basic requirements include:

  • GMAT score
  • TOEFL/IELTS/PTE
  • Work experience (2-3 years; higher for Executive MBA)
  • Good communication skills are a plus point


Core Subjects in Business Administration

The main purpose of MBA is to enlighten students in the fields of Accounting, Marketing, Human Resources and Operations Management. Various subjects include:

  • Accounting
  • Introduction to finance
  • Operations and Information management
  • Human resource management
  • Introduction to marketing
  • Micro Economics
  • Organizational Behaviour
  • Business Law

Specialisations in Business Administration

Specialization Topics include:

  • Finance
  • Accounting
  • Marketing
  • Human Resource Management
  • International Business
  • Operation Management
  • Supply Chain Management


Cost of Studying Business Administration

Although the fees vary from university to university, the average tuition fees and monthly cost of living for MBA in different countries are:

MBA in USA: $100,000 ; $1,000

MBA in UK: £18,000 (one year; higher for Oxford or Cambridge) ; £1,500

MBA in Canada: CA$50,000 ; CA$1,500

MBA in Australia: AU$60,000 ; AU$2,000


Job Prospects after MBA

These are just some examples of what jobs you can get after doing an MBA abroad:

  • Financial Manager
  • Financial Advisor
  • Investment Banker
  • Operations Manager
  • Marketing Manager
  • Management Consultant,

The average salary for different countries for the same job profile is:

Country

Average Salary for an Investment Banker

USA

$97,029

Canada

CA$75,000

UK

£55,740

Australia

AU$76,290


2019 Top Universities for MBA

The University of Chicago
Stanford University
University of Pennsylvania
INSEAD Asia Campus
University of St. Gallen
University of California – Berkeley
Harvard University
University of Oxford
Babson College
The University of British Columbia, Vancouver
Carnegie Mellon University


More Universities to target for Business Administration in 2019