You may be considering advancing your knowledge base by getting into an MBA program. Earning an MBA is not easy, but it is likely one of the most valuable things you will do professionally. Are you ready to take on the time commitment and tough workload? If you’re not sure what it takes to earn an MBA and what the rewards will be, we are here to help! Since we value our students’ time and only want the most dedicated and earnest applicants, we have laid out the specifics below.
What You Need to Know about Earning an MBA
Pursuing an MBA degree is no simple task, and only the best and brightest will succeed. If you consider yourself up to the challenge, you should learn everything you can before beginning the admissions process. Here is what you need to know about an MBA (Masters of Business Administration):
- When is an MBA advantageous? It may not be for everyone, but here are some scenarios in which an MBA could be the right decision: when you wish to advance your current career or make yourself eligible for a leadership position, when you want to switch industries or make a career change, or when you are ready to extend your business knowledge and networking ability to start your own small business.
- When should I apply? Most graduate programs prefer three to seven years of work experience after a bachelor’s degree before they will admit you into an MBA program. Of course, the required work experience varies depending upon the program you apply to so make sure you scout out potential MBA programs well in advance so you know what to expect from your desired program.
- What should I do to prepare for admission? Most MBA programs require a GMAT score before admitting you into the program. Depending upon the rigors of the program, your GMAT score should be between 600 and 660. You also need letters of recommendation and a completed application. Once again, look into prospective business programs to learn more about the admissions process. To find out more about Daniels admissions process, go to: https://daniels.du.edu/graduate/full-time-mba/admissions/.
- How can I pay for my MBA? Since you may end up spending over $100,000 for an MBA degree, try to get your employer to pay all or part of the cost. Many employers see an MBA degree as an investment in their company’s future, and are happy to pay the tuition. You can also apply for financial aid in the form of student loans to cover costs.