Should I get an MBA degree?

An MBA (Master of Business Administration) is a commonly sought out degree for those in the management and business sectors. Many students wonder whether an MBA is right for them, and this article will discuss this question in greater detail.

Firstly, it is important to understand when most students enroll in MBA programs. While many MBA programs offer deferred admissions (i.e. either directly after graduation or after 2-4 years of work experience), most students apply to MBA programs after they have at least 2 years of work experience. Most top MBA programs usually accept candidates with 4-6 years of work experience (excluding deferred admissions). 

Students can enroll in an MBA program either as a full time student or as a part time student. The two common forms of part time MBAs are as follows:

• EMBAs (Executive MBA) - these are MBA programs designed for students in executive positions with many years of work experience. People enrolled in such programs are usually between 30 to 50 years of age. EMBas are usually paid for by the student’s employer.
• Part time MBA - these are for students who are not yet in a leadership position who want to obtain their MBA and work simultaneously. Students enrolled in such programs are usually 25 to 35 years of age. Classes are after work hours and/or during the weekends.

MBAs from top business schools require a lot of time, effort and money. Therefore, it is critical to know whether an MBA is right for you. The following items are required for an MBA application:

• Essays 
• GMAT score (more and more business schools are also starting to accept the GRE)
• Interview (depends on the business school)
• Letter(s) of recommendation 
• University GPA and transcript 
• Resume 

It therefore boils down to the three aspects mentioned above: time, effort and money. MBAs, unless paid for by your employer, can be very expensive and may require months of practice and preparation. It is also important to realize that most employers are only interested in MBA degrees from certain schools, and therefore earning an MBA just for the sake of it may not help you develop your career.