Does a business career with high employment rates and a six-figure starting salary sound good? If the answer is "Yes," a Master of Business Administration (MBA) may be the way to get there.
The value of an MBA is well-established. In fact, according to Poets & Quants, the job outlook in 2017 for MBAs is "better than ever." This leading business education resource reports that both job opportunities and salaries are "on the rise for new MBA hires in 2017."
Northwest Missouri State University offers an online MBA in management with beneficial options for both applicants and students. Students can complete their coursework in as few as 12-18 months to prepare for high-level careers across diverse industries.
What Options Are Available to Applicants?
Anyone thinking about applying to an MBA program has probably heard of the GMAT (Graduate Management Admission Test). According to the Graduate Management Admission Council (GMAC), more than 6,000 graduate programs worldwide use the GMAT exam as part of the admission process. The GRE (Graduate Record Examinations) is another widely accepted test.
It's important to note the fees associated with both the GMAT and the GRE. For example, as of June 2018, the GMAT exam fee was $250. Need to reschedule within seven days of the test date? Plan on paying an extra $250! Then there are the fees for score reports. Overall, the GRE is somewhat less expensive. But the test costs still add up. And test prep courses can add hundreds more.
It's easy to see why the GMAT and GRE may be a dreaded first step in the MBA application process. Fortunately, Northwest waives the GMAT/GRE requirement for applicants who meet a few basic requirements. Applicants who do not meet the GMAT/GRE waiver requirements have the option of submitting either GMAT or GRE scores.
What Options Are Available to Students?
Interested in starting a business and being your own boss? Northwest's MBA in General Management allows students to choose electives that provide the background and training to succeed in a business startup. Particular focus is placed on funding entrepreneurial ventures.
Students also have the option to choose electives that focus on other popular areas of interest, including:
- Human resource management.
- International business.
Salaries in these careers may vary depending on the industry and other factors. However, the U.S. Bureau of Labor Statistics (BLS) reports that management salaries in general are higher than in other occupations. In 2016, for example, human resource managers earned a median annual wage of $106,910. Those in the top 10 percent earned more than $190,000.
Northwest's MBA in General Management program provides additional options that many students find helpful:
- Multiple start dates throughout the year allow students to choose the most convenient time for them.
- Students also have the option of paying for each course as they enroll, which may make financing an MBA less stressful (also potentially saving money on loans).
Earning an MBA may be a salary-boosting move. But it can be much more. At Northwest Missouri State University, an MBA in management can prepare students for careers that are a match for individual areas of interest. Whether turning a great idea into a successful business or taking a leadership role in an international environment, MBA graduates have a world of options.
Learn more about Northwest Missouri State University's MBA in General Management Online.
Sources:U.S. Bureau of Labor Statistics: Management Occupations
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