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

Business schools require you to give the GMAT which forms the most important part of your application. Few universities also accept GRE scores in place of GMAT scores. They also require a minimum 2-3 years of work experience (depending on the program you intend to join). IELTS or TOEFL is compulsory for acquiring student visa and as a proof of English proficiency. However, for Executive MBA, only the students with high level of managerial experience (five years minimum; ten years total work experience on average) are eligible to apply.

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
  • Marketing
  • Human Resource Management
  • International Business
  • Operation Management
  • Supply Chain Management
  • Agri Business Management
  • Health Care Management
  • Rural Management
  • Information Technology

Cost of Studying Business Administration

Although the fees vary from university to university, the average tuition cost for MBA in the US are $30,000/year. Average living costs vary upto $8900/year. Tuition fees are around C$28000 in Canada. In Australia, average tuition costs are A$38000 / year and the average living costs are A$8,500/year. For Executive MBA students have some or all of their tuition covered by their current employers.

Job Prospects after MBA

United States$42,228 - $126,658$73,190
United Kingdom£25,120 - £68,948£38,904
SwitzerlandNACHF 137,569
SingaporeS$50,418 - S$202,304S$77,564
New ZealandNZ$56,394 - NZ$142,880NZ$80,314
Netherland€22,257 - €123,142€58,958
Ireland€35,802 - €88,232€54,963
Germany€34,905 - €110,126€63,285
CanadaC$44,252 - C$108,364C$72,251
AustraliaAU$58,155 - AU$146,553AU$90,377

Top Universities for Business Administration

Universities that Average Profiles can target