{"id":22279,"date":"2021-11-25T09:55:15","date_gmt":"2021-11-25T07:55:15","guid":{"rendered":"https:\/\/www.getsmarter.com\/blog\/?p=22279"},"modified":"2025-08-21T16:17:34","modified_gmt":"2025-08-21T14:17:34","slug":"8-essential-facts-about-what-you-gain-through-an-mba","status":"publish","type":"post","link":"https:\/\/www.getsmarter.com\/blog\/8-essential-facts-about-what-you-gain-through-an-mba\/","title":{"rendered":"8 Essential Facts About an MBA"},"content":{"rendered":"\n

Are you interested in pursuing a Master of Business Administration (MBA) degree? As an internationally recognized degree, focused on business and management knowledge, an MBA provides transferable, critical skills for any company.1<\/sup><\/p>\n

As for what you can do with an MBA, its value isn\u2019t strictly limited to the business world. An MBA can be useful if you\u2019re working toward a managerial career in the public sector, government, or private industry. Common positions sought with an MBA include accountant, commercial banker, marketing manager, business operations manager, chief executive officer, human resources manager, financial officer, and operations analyst.2<\/sup><\/p>\n

Harvard Business School was the first institution to offer an MBA degree, responding to demand from businesses around the United States.3<\/sup><\/p>\n

But Harvard wasn\u2019t the world\u2019s first business school. This was the \u00c9cole Sup\u00e9rieure de Commerce de Paris (ESCP), founded in 1819 \u2013 making it the oldest establishment dedicated to business and finance teaching in the world. Today, the school is still in existence and offers a full-time MBA in International Management and a part-time Executive MBA. Last year it placed eighth in the Financial Times<\/em>\u2019 European Business Schools 2020 rankings.<\/p>\n

Here are eight essential facts worth knowing about an MBA:<\/p>\n\n\n\n

1. The demand for MBA graduates is at an all-time high<\/h2>\n\n\n\n

Completing an MBA degree increases your career prospects. Among recruiters, 92 percent expect demand for MBA graduates to increase or remain stable over the next five years. The greatest rise in optimism is in Europe, where 54 percent of recruiters anticipate an increase in demand for employees with MBAs in 2021, compared with 36 percent in 2020.4<\/sup><\/p>\n

Demand varies across different industries. Those wishing to pursue a business management career in the aviation or tourism industries, for example, should bear in mind that these have been negatively affected by the COVID-19 pandemic. On the other hand, the technology, pharmaceutical, and data analysis sectors have seen new opportunities arise for MBA graduates.5<\/sup><\/p>\n\n\n\n

2. The different MBA formats<\/h2>\n\n\n\n

Several business schools are adapting or considering an adaptation of their curriculums to meet changing market demands. Although there\u2019s a huge range of programs from which to choose, MBAs generally fall into seven main categories:6<\/sup><\/p>\n\n\n\n

Full-time MBA<\/h3>\n\n\n\n

These programs typically last two years. They tend to attract high-quality applicants and are well suited to those considering a major career change. Unsurprisingly, networking with other top-level professionals is a significant component of a full-time MBA. <\/p>\n\n\n\n

Part-time MBA (in person or online)<\/h3>\n\n\n\n

Appealing to career climbers more than career changers, the part-time MBA offers greater flexibility, with students able to vary their course load each term. In-person students attend lectures at night and on weekends, while online students complete coursework remotely and attend classes through video conferencing. <\/p>\n\n\n\n

Executive MBA<\/h3>\n\n\n\n

With in-person classes usually held twice a month (or online, potentially more regularly), this MBA option is of interest to professionals with more than 10 years\u2019 experience who are keen to increase their managerial knowledge. <\/p>\n\n\n\n

Specialized MBA<\/h3>\n\n\n\n

An increasing number of graduate business schools offer specialized MBA programs that impart deep management expertise in a specific industry. Management, accounting, finance, and data analytics all experienced significant growth in specialized MBA applications from 2019 to 2020.7<\/sup><\/p>\n\n\n\n

Global MBA<\/h3>\n\n\n\n

A global MBA is aimed at those wishing to work in an overseas office or for a multinational company. This MBA is usually offered as a full-time course that examines how functional business areas are experienced in different institutional contexts.<\/p>\n\n\n\n

Accelerated MBA<\/h3>\n\n\n\n

For those with less time or who don\u2019t wish to take a career break, an accelerated MBA condenses studies into a one-year program. Costs are also likely to be lower. <\/p>\n\n\n\n

MBA dual and joint degrees<\/h3>\n\n\n\n

These degrees vary in structure, requirements, and length, but generally enable students to study business alongside a second degree, with separate coursework. Typically, some course credits can be applied to both degrees. Dual and joint degrees are a good choice for those whose interests or career meet at the intersection between business and other fields. <\/p>\n\n\n\n

3. Hard skills vs soft skills taught during an MBA<\/h2>\n\n\n\n

An MBA program teaches hard skills \u2013 the relevant practical knowledge that enables you to work in a specific field. These are, of course, a prerequisite for most jobs, but they\u2019re inherently teachable.<\/p>\n

On the other hand, soft skills relate to interpersonal relationships, leadership, project management, problem-solving, communication, and teamwork. These are acquired through work experience, and trial and error.<\/p>\n

While the necessary hard skills are a prerequisite for working in a particular field, MBA employers rate soft skills more important than hard ones. The 10 top-rated skills are:<\/p>\n