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What is an MBA?
What Is an MBA?
The Master of Business Administration (MBA), one of the most sought-after postgraduate degrees in the U.S., shows employers that you have an expert-level knowledge of how to be an effective leader and strategist in businesses across all industries.
This advanced degree provides theoretical and practical training in business principles, marketing, finance, accounting, and leadership skills. Business professionals obtain this postgraduate degree to deepen their education in areas such as leadership, economics, communication, marketing, and data-driven decision-making and increase their marketability as a professional.
Keep reading to learn everything you need to know to take the first steps towards your master’s degree, including how to choose the type of MBA that is best for you, reasons to pursue this degree, what you’ll learn in the curriculum, the necessary prerequisites, salary information, job security forecasts, and more.
Business
Master of Business Administration
The flexible MBA program you need, focused on business management,...
The flexible MBA program you need, focused on business management, strategy, and leading teams:
- Time: Graduates can finish in 12 months
- Tuition: $4,755 per 6-month term
- Courses: 11 total courses in this program
Skills for your résumé you will learn in this program include:
- Leadership strategies
- Talent management
- Communication
- Data collection and interpretation
- Financial statements
Our competency-based model gives you an innovative learning experience you won't find anywhere else—and our MBA grads tell us they loved accelerating their program to see a faster ROI.
Business
MBA Information Technology Management
Earn the online college degree that can move your career into IT upper...
Earn the online college degree that can move your career into IT upper management:
- Time: Graduates can finish in 12 months
- Tuition: $4,755 per 6-month term
- Courses: 11 total courses in this program
Sample careers and jobs this business degree will prepare you for:
- Management
- Project Management
- Leadership
- Innovation
- Communications
- Information Systems Security
Learn to navigate emergencies, execute strategies, and optimize systems with the competencies within this specialty MBA.
Business
MBA Healthcare Management
Prepare for a career leading private or public healthcare organizations....
Prepare for a career leading private or public healthcare organizations.
- Time: WGU lets you set a schedule so you can finish your MBA in just one year.
- Tuition: $4,755 per 6-month term.
- Courses: 11 total courses in this program.
Skills for your résumé you will learn in this program include:
- Regulatory compliance
- Patient care improvement
- Service line development
- Healthcare trends
- Health policy and legislation
Healthcare is big business in today's complex economy. Steer your career with this specialty MBA.
Compare online business degrees
This program is not the only online business degree WGU offers that is designed to create leaders in the field of healthcare. Compare our health leadership degrees.
What Kind of MBAs Are There?
While it’s a common misconception that there is only one type of MBA, you can actually choose from several different programs of study, depending on your interests. In addition to the general MBA program, two very popular options are MBA Healthcare Management and MBA Information Technology Management.
Beyond areas of study, there are also different formats for learning. Do you want to pursue a full-time or part-time program? A traditional or accelerated program? An in-person or online program? There are many other factors to consider when choosing a degree program including overall cost, academic support, and career goals.
What Is Included In An MBA?
MBA programs typically include core classes in accounting, management, finance, marketing, and business law. The goal of these programs and the curriculum is to transform workers into confident, experienced leaders. The management training includes courses in planning, business strategy, leadership, and soft skills necessary to run a large or small business. In WGU’s Master of Business Administration program, which was developed with input from experts and business leaders to include today’s most relevant subjects, you’ll take courses such as:
- Managing Organizations and Leading People
- Managing Human Capital
- Management Communication
- Operations Management
- Marketing
- Global Economics for Managers
- Accounting for Decision Makers
- Ethical Leadership
- Financial Management
- Data-Driven Decision-Making
Why Would You Want To Get an MBA?
An MBA has two primary purposes. First, students that obtain an MBA complete a comprehensive set of classes that expand their business and leadership skill set. expanded their network, gained a better understanding of how to strategically approach problems in business, and be a more competent professional.
Other major benefits of holding an MBA include its positive impact on a candidate’s desirability, credibility, and negotiating power within the job market. Professionals with an MBA signal to employers that they have honed the skills necessary to thrive in a business environment. With these advantages come higher starting salaries, higher positions within a company, and more competitive bonus packages.
How Much Does an MBA Cost?
An MBA is one of the most popular post graduate programs and often comes with a sizable ticket price. Earning your MBA will typically cost you between $20,000 and $100,000 when all is said and done. Luckily, there are more affordable options.
WGU's unique, competency-based model, for example, charges a flat fee and allows you to move through your MBA degree program at your own pace. With no set class times or required log-in times, you can complete assessments and assignments day or night, finishing your degree on your schedule and potentially saving time and money. While most MBAs take two or even three years, WGU's one-year program allows you to earn your degree in only 12 months and for just $9,460.
What Degree Is Required to Get an MBA?
While no specific business experience or undergraduate degree is required to apply to an MBA program, most universities only consider prospective students who have a bachelor's degree. Some schools also require students to have passed the Graduate Management Admissions Test (GMAT) or Graduate Record Examinations (GRE), although many schools—including WGU—do not.
Is an MBA a Higher Degree than a Masters?
A Master of Business (MBA) is just one type of master's degree that covers everything you could know about general business administration and prepares you to be a leader in any industry. Most MBA programs feature core classes that help students grasp skills in management, economics, leadership, and finance within the broader context of business administration.
Is an MBA Worth It?
The financial return on investment you get by earning an MBA is strong. In fact, MBAs are universally considered to be one of the most useful and lucrative masters degrees you can get. Multiple sources report that business school graduates see an average salary bump of 119% just three years after graduation. A recent study from the Forté Foundation found that the average salary for MBAs within two years of graduating was between $133,511 and $144,956.
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Programs Begin the 1st of any Month
WGU enrolls new students at the beginning of each month, launching a new term for those students. A term at WGU is 6 months long. What does this mean for you? You can start when you’re ready, rather than rushing (or waiting) for fall or spring enrollment. So, it’s back-to-school time year-round at WGU!
