What Are Questions to Ask in an MBA Interview?

When applying for entry to a Master of Business Administration program, many candidates get nervous about the interview. You may have considered how to answer the questions the interviewer will ask. But what are the best graduate program interview questions to ask when the script is flipped? Knowing the questions to ask in this interview can help you get the information that equips you to make the best decision for your education and career plans.

What to Expect During the Interview

If you’ve gotten to the interview portion of the MBA admission process, you’ve reached the final step of the process. The university has determined you’re a prime candidate for the program based on your transcripts, essays, and test scores.

Now, they want to know a little more about you. This is also your chance to get to know more about them and show that you’re an inquisitive and motivated student.

The interview may be 20 to 60 minutes long. Make sure you’re punctual and allow yourself extra time at the end of the meeting. You want to be completely present, mentally and physically. If you appear rushed, you might give the impression that the interview isn’t important to you.

You may be required to visit the school for the interview. If you don’t live nearby, a faculty member, alum, or program director may interview you over the phone or online video conference.

Sometimes, there is more than one step required to complete the interview process. Some schools ask standard questions you can answer in a video recording before conducting an in-person dialogue.

You may even have to prepare a project or presentation for the day of the interview. Make sure you read all the requirements so you follow the interview process seamlessly.

What Questions Will They Ask You?

You’ll likely be asked questions similar to those you answered in the essays you already submitted for the application. Typical MBA interview questions include:

  • Why are you interested in continuing your education?
  • Why do you want to pursue an MBA?
  • What types of MBA are you interested in?
  • Why are you interested in this MBA program or university?
  • What skills do you hope to obtain?
  • What qualifications or experiences do you have that will contribute to the program?
  • How will this program help you reach your goals?
  • Tell us about a challenging situation, how you resolved it, and what you learned.

You might be asked some offbeat questions that force you to think critically. These questions—which differentiate the people who are willing to identify crucial issues and look at multiple factors to determine a solution—may catch you off guard:

  • Why are manhole covers round?
  • Why is the bus door located next to the driver?
  • How many airplanes are flying over the United States right now?
  • Do you consider yourself an ethical person?
  • What are your New Year’s resolutions?

Even if you don’t know the answer to these questions, indicate that you understand how to find out the solution by asking strategic questions.

If you’re applying for an EMBA program, you will be evaluated differently than someone who is coming straight from college graduation. You’ll be asked questions about your résumé and career. Tell a brief story about yourself that summarizes your career trajectory, emphasizing recent positions. Include one or two points that demonstrate your strategic thinking or problem-solving abilities.

Interviewers also want to know how you’ll balance school with your job and personal life. Acknowledge that this can be a challenge, and give examples that demonstrate you can handle pressure and take on the additional demands.

Questions to Ask During an MBA Interview

The final question MBA interviewers usually ask is, “Do you have any questions for us?”

The MBA interview questions to ask your interviewer are just as important as your responses to their queries. Graduate schools want to know that you’re committed to this path. It helps when they see you’ve researched their school or program. They will also assess your level of curiosity and analytical skills based on the questions you ask during the interview.

The best MBA questions to ask can set you apart from other candidates who have skills and qualifications similar to yours. Your questions should:

  • Highlight your strengths
  • Demonstrate your career goals
  • Show that you’ve looked into what the university has to offer
  • Establish that you consider an MBA worth your time and effort
  • Exhibit your passion for this program

Some of the best graduate school questions to ask include:

  • What were some of your favorite classes?
  • Can you tell me more about the specific program and concentrations available at this institution?
  • What is the program’s biggest limitation?
  • What groups or organizations can students in this program access or join?
  • Do you have a study abroad program?
  • Does your program use business simulations and experiential learning?
  • What is the best advice you would give to an incoming student?

When applying for an EMBA, you’ve already been in the workforce for a while; you need to demonstrate the strengths and interpersonal skills you’ve gained. Don’t neglect to prepare EMBA interview questions to ask just because you have confidence and experience in an established job.

The Worst Questions to Ask in a Graduate School Interview

There are some graduate school interview questions you should never ask. Don’t waste the interviewer’s time by asking logistical questions already addressed on the school’s website.

These questions should be considered well before you start applying to business schools:

Tips for Acing the MBA Interview

  1. Preparation is key. Go to the school’s website to find out if they tell you what to expect or what MBA-specific questions they will ask you. You might also search online for articles or forum posts written by previous candidates, which can give you an idea of what the process will be like.
  2. Be authentic and honest. The school has already deemed that you look good on paper. Now, they want to see what sets you apart from everyone else.
  3. Don’t lie or pretend to be perfect. Show you have an open mind and a willingness to learn.
  4. Prepare personal examples to reference during the interview. Schools want to see you can apply in practical ways the knowledge you gain.
  5. A strong first impression is crucial to succeeding during the interview process. Show you are unique, you will contribute, and you can adapt to a changing environment. Interviewers want to know about your strengths, weaknesses, and personal and professional accomplishments.
  6. With this knowledge and confidence, you are prepared to make your mark in an MBA interview and advance your career.

Still unsure about your upcoming MBA program interview? Contact mbainfo@augsburg.edu to talk with Augsburg University’s MBA professionals who can offer advice from years of experience.

How Can an MBA Help My Career?

An Master of Business Administration is the most popular master’s degree in the United States. Whether you already have a solid career, you’re searching for a job, or you consider yourself an entrepreneur, you might wonder about getting an MBA.

Why earn an MBA? The degree is widely accepted by employers and opens doors to future advancement and promotional opportunities. Business education has adapted to stay relevant to current trends, including the globalization of business and the drive for innovation.

Why an MBA Is Important for Your Career

One of the best reasons to get an MBA is that you become more marketable to employers. Just scroll through the job listings on Monster to see how many have an “MBA preferred” indication.

It used to be that MBAs were the degree of choice for people going into finance. Today, all types of industries are hiring people with these degrees. Tech companies are getting business school graduates on board in order to stay competitive. Hot jobs for MBA graduates include mid-level management and executive positions.

Companies prefer hiring people who have earned MBAs because these students are usually better educated and positioned for roles in strategic thinking, problem-solving, and ambiguity management. An MBA program does more than give you specific knowledge; it provides experiential learning opportunities to help prepare and train students for the rigors and processes necessary to lead successful businesses.

How will the MBA help you in developing your skills? When you’re working toward this degree, you don’t just learn; you consistently use your knowledge. This is a vital characteristic of any leader, manager, or entrepreneur. You need to apply and interpret the data analytics in order to quickly transform ideas into profitable action.

From an employer’s perspective, an MBA graduate is likely to have the following qualities:

  • Commitment
  • Work ethic
  • Critical thinking
  • Business analytical experience
  • Collaboration and a love of learning

Will an MBA Help My Career?

Many people ask, “Is an MBA worth it even if I’m already established at a successful organization?” We’ve examined how corporations benefit from hiring employees with MBAs. What are the advantages of an MBA for you?

Gain Knowledge, Skills, and Experience

On the most basic level, you will learn more with an MBA than someone who enters the workforce after getting a bachelor’s degree. Those students may gain real-world experience, but the entry-level positions they take don’t give them the advanced knowledge they need to understand the subtle nuances of business.

Move Up the Career Ladder

Continuing your education after an undergraduate degree prepares you to start at a higher level when you do get a job. MBA graduates often move into more challenging and prominent positions at an accelerated rate.

At the same time, many MBA programs look at applicants’ work experience during the admission process. Therefore, you might want to consider getting that entry-level position while you’re earning your bachelor’s degree to gain a competitive advantage.

Earn a Higher Salary

Why get an MBA if you already have a job and have started your career?

MBA graduates are often offered a higher salary than direct-from-industry hires and students who have just graduated with an undergraduate degree. Therefore, if you’re considering employment elsewhere, you’ll be likely to get a pay boost. Even if you stay at the same organization, you may see a salary increase after earning an MBA.

The average salary for MBA alumni is $142,000 per year. Depending on your lifestyle, you can pay off your student loans fairly quickly at that rate, making the investment financially lucrative. The average payback for an MBA is about four years. Plus, unemployment rates for these graduates are low.

Network

An MBA program gives you ample networking opportunities. This can help you make connections that will allow you to grow your current business. It can also give you the security of knowing you’ll have help and connections to a variety of companies and industries if you want to change careers.

Types of MBAs

A Master of Business Administration is not just a generic term for a business degree. There are a few different types of MBA and distinct concentrations to choose from.

The types of MBA differ based on the class format. Students can take MBA courses:

  • Online
  • On campus
  • Full-time (completed in two years)
  • Part-time (completed in two to five years)

An executive MBA, or EMBA, is typically a two-year program that’s directed at people with at least five years of managerial experience. This is ideal for people who have already started their careers.

A global or international MBA has a diverse student body. It exposes students to global policies and considerations and is ideal for people who want to work outside of the United States.

The most popular MBA concentrations include:

  • Strategy – Explore a general knowledge base surrounding business theory and the factors that affect a company’s success or failure. This can help your career if you want a big-picture focus, have ambitious goals, and desire a versatile degree that can be used in many industries. People with a strategy MBA degree often go on to become executives, entrepreneurs, supervisors, and analysts.
  • Corporate finance – Learn to maximize the value of an organization by understanding objective function, investments, financing, dividends, and valuation.
  • Operations – Gain knowledge and experience in supply chain management or logistics. This involves facilitating production and manufacturing, managing company resources, and mediating relations with everyone involved in the process.
  • Entrepreneurship – Prepare to develop and lead your own businesses. Students learn strategy, business ethics, social responsibility, and problem-solving.
  • Management – Focus on allocating resources, solving problems, and working with people on various projects.

Careers for MBA Graduates

What can you do with an MBA? Graduates with this degree can get a variety of high-ranking positions in almost any industry.

People with a corporate finance MBA may pursue careers in venture capital firms, in commercial banks, and as chief financial officers at Fortune 500 companies. After earning an MBA in operations, many graduates get jobs as operations, supply chain, or logistics managers; consultants; and inventory control managers.

An entrepreneurship MBA can help you launch your own organizations or work in a leadership or management role within a company. Graduates with a management MBA can pursue positions as management consultants or managers or supervisors in any industry.

The only question remaining is: Where will you go and what will you do with an MBA?

Have questions about how an MBA can help your career? Explore Augsburg University’s MBA program or contact mbainfo@augsburg.edu to talk with MBA professionals today.

Your Guide to MBA Application Requirements

When it comes to business credentials, one of the most desirable is the Master of Business Administration. As an MBA student at a strong program like Augsburg University’s, you’ll learn the nuances of finance, management, marketing, leadership, strategy, and more from top professors in your field, putting you in a position to conquer the 21st-century business landscape.

Learn how to graduate with an MBA, what the MBA requirements are, and all the particulars you’ll need to know for admission to a leading program.

Basic Requirements for MBA Programs

Regardless of the institution you’re hoping to attend, the basic MBA requirements are similar. Here’s what you’ll need to be admitted:

Undergraduate degree

First, you’ll need your undergraduate degree. The institution you attended must be accredited. While your undergraduate degree can be in any major, it would be helpful to have a degree in a business-related field such as business management, marketing, or finance.

Your transcripts

You’ll also need transcripts from the college or university where you earned your undergraduate degree. You can obtain a copy of your transcripts easily by contacting the registrar’s office at your former school.

GRE or GMAT

Another MBA degree prerequisite is the completion of the Graduate Management Admission Test or Graduate Record Examination within the past five years. While each school holds applicants to different score requirements, most schools require a GMAT score of 600 or more, or a GRE score of more than 150. Many institutions, like Augsburg University, do not require the GMAT or GRE, but they may require you to complete MBA math modules in its place.

Application

You’ll also need to complete your application to the university and pay any appropriate fees associated with the application process. Keep in mind that your graduate school application will be extensive and include several important components:

  • Statement of interest (cover letter)
  • Application form
  • Responses to application essay questions
  • Two letters of recommendation
  • Current résumé

In addition, most institutions prioritize admissions for students who have already gained at least two years of hands-on experience in the business world.

Tips for Gaining Admission

While each school’s requirements are different, there are some useful tips that can help separate you from the countless other students also applying for their MBA.

Research each school

To understand which university is the best fit for you, you’ll need to understand what separates them. Pay close attention to the mission of each school and the clubs, organizations, and faculty at each school. Focus on schools that align with your goals and will help you reach those goals.

If possible, take the time to visit the top schools you’re considering. Most have programs in place that will expose you to life as an MBA student so you can make an informed decision about whether that school is best for you.

Display a global flair

In an increasingly global economy, admissions departments prioritize applicants who have some degree of exposure to the world on a global level. If possible, gain international work experience and knowledge. If that’s not possible, plan a trip abroad before applying for your MBA. Anything you can do to show admissions staff that you’re a member of the world on a global scale will be helpful.

Curate your references

Take special care when deciding whom to ask for references. Of course, your goal is to receive a glowing recommendation. But, you should also consider the impression your reference will have on admissions staff who review your application materials.

If possible, seek references from professional contacts who can speak to your business acumen and work ethic, and don’t reach too far back to get them. In other words, a reference from your current manager holds much more weight than a reference from a friend or old acquaintance.

Ace your interview

When it comes to the interview, admissions departments are looking for relaxed and confident people who can not only speak to the information on their application, but also to information not found in an application. This includes personal experiences, anecdotes, and knowledge of the school and its MBA program.

Don’t lose focus

The competition for admission to an MBA program is extremely stiff across every university in the country. If you’ve been wait-listed by your top school or you suspect you may be wait-listed, don’t lose hope or focus.

Instead, take this as an opportunity to learn and improve. Speak with the admissions department about why you were wait-listed or denied, and use that information to improve your application.

MBA Program FAQs

Who makes a good applicant?

In addition to ensuring you meet the requirements for an MBA program, most institutions favor applicants who demonstrate strong character and intelligence beyond the basic MBA degree prerequisite courses and requirements.

Meeting the MBA requirements and possessing a strong and diverse range of educational and extracurricular activities is the best way to distance yourself from the competition.

Can I apply without taking the GMAT or GRE?

Yes; while some MBA programs in the country require prospective students to have taken one of these entrance prerequisites, many institutions have other criteria to weigh your application. While the scores are self-reported, the university will confirm your scores before granting admission to the program.

Can I apply with a three-year undergraduate degree?

Most universities are happy to accept qualified applicants who received accelerated degrees. While you may occasionally encounter a school that requires a four-year undergraduate degree, most have no issue accepting qualified applicants with three-year degrees. If you have a three-year degree, having at least two years of work experience will enhance your chances of being accepted into the program.

When will I receive a decision?

While each school is different, most schools strive to review applications and decide on admission within six weeks of receiving your completed application.

How can I schedule an interview?

Admissions interviews are typically given on an invite-only basis. These interviews represent the final step in the admissions process before you’re accepted to a program. If you’re contacted for an interview, it’s usually an indication that you’re strongly considered for admission into the program.

Conclusion

When it comes to how to get an MBA, there are several important factors to consider. While the requirements for MBA programs differ for each university, the minimum requirements are similar across the board.

If you’re hoping to receive your MBA qualification, a strong application, work experience, and a four-year degree are the basic prerequisites.

While a strong educational and extracurricular foundation is a major factor for admission, prospective applicants should also approach the process with a measure of determination and an understanding that it’s common for many students to not receive admission into the program of their choice on the first application.

Remember, if at first you don’t succeed, learn from your shortcomings and continue seeking admission into the MBA program that’s right for you.

Have other questions? Contact staff and faculty in the business department at Augsburg University. If you’re ready to take your next step, request specific MBA program information to determine which program is best for you.

How Long Does It Take to Get an MBA Degree?

A Master of Business Administration (MBA) is a highly prized graduate degree. It offers a wide range of knowledge and skills that are helpful in many industries. There’s a lot to look at, from accreditation to admissions criteria for an MBA. You may wonder if getting an MBA is worth it. The answer is different for everyone, but those who decide to earn one gain a competitive advantage. Whether you are a few years out of college or have been working for 10 years, an MBA degree will help hone your skills.

The course duration of an MBA depends on the type of program you attend. There are different types of MBA degree programs, and they all have varying lengths.

How long does it take to get a traditional MBA?

A traditional full-time MBA program length is about two years. The program usually starts in either late August or early September with a couple of short breaks and a longer two- to three-month break during the summer between the first and second year. Most students opt to do an internship during the summer break.

As a full-time student, you can expect to take classes throughout most the day during your first year. After you finish class, expect a few hours of homework and other activities. During your MBA years, homework may include reading textbooks and case studies, working on projects, and writing essays.

Many students go to class activities such as bar nights, dinner parties, and other social gatherings. Many schools offer presentations from successful business people as well. Days off may include comprehensive studying for the coming week.

Things change a bit the second year, when the focus is all about specialization. Students choose electives from broad fields to customize their education. These fields include:

  • Accounting
  • Finance
  • Entrepreneurship
  • Leadership
  • Marketing
  • Sustainability
  • Real Estate

Some universities specialize in other fields. Besides the time commitment, the average cost of a two-year MBA is $130,000.

How long does it take to get an MBA degree online?

An online MBA may not have a defined length of time. Some online MBA programs are self-paced learning and can take as little as nine months to complete, while others can take multiple years to finish. Most people take about two years to complete an online MBA. Universities all around the country offer online MBAs to students who choose to study off-campus.

These programs typically require about half of the credits that a full-time MBA requires. They’re an excellent choice for working professionals and business owners who want an advanced degree but don’t have time or flexibility to go to a campus for classes. Students spend an average of 10 to 15 hours a week outside of class doing work.

Online MBAs cost significantly less than a traditional MBA. The average cost ranges from about $35,000 to a little more than $39,000. An online MBA cuts down on costs like transportation and living expenses because students don’t have to worry about commuting to class or staying close to a particular university or college.

How long does it take to get an MBA degree if you go to school part-time?

Part-time MBA students take classes at night and on the weekends. They’re popular among working professionals working to change careers or improve their prospects. The part-time MBA program can be completed in about a year, or up to five years depending on the program. The shorter programs are accelerated, which means they move faster and require more rigorous studying.

These programs can be less of a financial burden than full-time programs, because you can still work while attending them. Expect to spend seven to eight hours a week doing homework on top of any work you may have for your job. The time commitment may make it hard to spend time with family or go out with friends.

Many top-tier part-time MBA programs aren’t cheap. The average cost is about $110,000, slightly less than a full-time MBA. However, a part-time MBA may spread the cost over an extended period, and you have the advantage of the income from a full-time job while completing it.

How long does an accelerated MBA take to complete?

And accelerated MBA is an excellent option for people who want the benefits of an MBA but don’t have two to three years to earn the degree. An accelerated MBA takes between 10 and 24 months to complete, depending on the program. This makes an accelerated MBA an attractive option for someone who has a year to dedicate to education.

The work is rigorous for an accelerated MBA. Universities cram in two years’ worth of learning in a single year. Expect to study all the time and give up your free time if you decide to get an accelerated MBA. Break times are shorter, lasting about a week instead of a few weeks in a traditional MBA.

The price is significantly lower than a traditional MBA. Some programs from state universities start in the tens of thousands of dollars, while you’re looking at about $100,000 at an elite school—that might sound like a lot, but it’s roughly $40,000–60,000 less than a two-year program.

How long does it take to get an executive MBA?

An executive MBA is a great way for entrepreneurs, people in middle management, and executives to learn the necessary skills to take their career to the next level. It can take anywhere from a year to three or four years to get an executive MBA. Each program is different, and there are online and on-campus programs available.

They’re designed for individuals who are already employed. Typically, classes meet at night a couple times a week or on weekends. The executive MBA works around the busy schedule of a high-level working professional.

An executive MBA isn’t cheap; many programs cost over $100,000. Though that’s a large number, it shouldn’t be out of reach for most people interested in getting one. Many are already making six figures a year and continue to work while they get their degree. Some employers offer financial assistance for executive MBAs, because the companies reap the benefits as well when that employee grows in business savvy and skills.

The bottom line

If you are considering pursuing an MBA, you will likely need to devote a large amount of time to complete the program, typically one to two years. Expect to spend multiple hours dedicated to schoolwork each week in addition to class time. Additionally, if your college or university offers networking events for MBA students outside of the classroom, it would greatly benefit you to attend them.

The decision to continue your business education and attend graduate school is an important one that requires the consideration of many different factors. How long does an MBA take to complete? The answer is entirely dependent on which degree program you choose to enroll in.

Request specific MBA program information or contact the business professionals at Augsburg University to find out which program is best suited for you.

What Can You Do With an MBA?

The Master of Business Administration (MBA) is a widespread post-graduate program. It is a versatile master’s degree that offers extensive value. One of the greatest questions to ask when considering any prospective program is wondering where it will lead you.

The MBA is no exception. If you’re asking yourself, “What can I do with an MBA?” consider the skills you’ll learn with an MBA, the benefits of obtaining an MBA, and what post-MBA career paths are available.

MBA Skills

An MBA program offers many skills that can open opportunities in the future. Different programs will emphasize different skill sets. However, there is a general focus that many MBA programs share. An MBA addresses a broad spectrum of topics related to business. An MBA covers quantitative topics like economics, statistics, data analytics, finance, and accounting, and qualitative business areas like leadership, organizational behavior, ethics, communication, and management, as well as entrepreneurship.

Along with practical knowledge in a wide variety of business fields, MBAs provide an assortment of soft skills, sometimes called “people skills.” Enhancing your business knowledge is powerful, but many employers seek more than just a knowledgeable applicant. Matriculating in MBA courses develops leadership, critical thinking, and analytic abilities. These courses also help build communication and teamwork. All of these talents will help you become a better leader and advance your career goals after obtaining an MBA.

Benefits of an MBA

There is one crucial question to ask before delving into the options of an MBA: is an MBA Worth it? Evaluate the benefits of an MBA and the options that an MBA can open for you. Now that you know some of the skills taught by MBA programs, consider how those skills can be used and what you gain by obtaining an MBA.

One of the most influential purposes of pursuing higher education is to advance your career. An MBA degree helps you advance your job prospects and opportunities. Having an MBA increases the appeal of your resume and increases the ability to market yourself. Additionally, the skills you learn in an MBA program can increase your confidence in a job interview, giving you an advantage over other applicants.

Where you get your MBA matters. The number of people getting an MBA is increasing. To stand out from the crowd, recognize your potential school’s standing and what level of name recognition it offers. Obtaining an MBA from a top-rated institution will provide you with better opportunities than obtaining one from an online-only institution.

What Can I Do After Obtaining an MBA?

With the knowledge gained from the rigor of an MBA degree, return to the question at hand: “What can I do with an MBA?” An MBA is a flexible degree path. There are many things you can do with an MBA, and there are many MBA career options that are often taken by MBA graduates.

Management Consultant/Management Analyst:

The job of a management consultant is to analyze the managerial practices and procedures of a company. The consultant will then advise the company on strategies to improve their management systems and processes. Additionally, management consultants detect potential issues within a company’s infrastructure and provide consultation on how to reduce those problems.

Management consultants must have a firm understanding of the principles of business management. They must have strong analytical skills to deconstruct the practices of a firm and detect issues in those practices. This career is a great fit for MBA graduates.

  • Median Salary: $81,330 (Applicants with an MBA are typically offered a higher initial salary over $100,000)
  • Expected Growth Potential (2014–24): 14%

Marketing Manager:

A marketing manager oversees the overarching marketing plan for a product line, division, or company. Marketing managers are in charge of organizing, forecasting, and planning the marketing plan and bringing the plan to fruition. This process includes setting budgets, conducting market research, designing and enacting marketing campaigns, and managing the company’s marketing team to achieve these tasks.

MBA recipients learn the fundamentals of business, and marketing is a key area on that list. They gain skills in leadership, ethics, finance, communication, and management, all of which are essential skills in leading a marketing team.

  • Median Salary: $131,180
  • Expected Growth Potential (2014–24): 9%

Operations Manager:

The MBA is a multifaceted program, and the responsibilities of an operations manager are similarly varied. An operations manager oversees the day-to-day operations of a company to ensure that everything runs smoothly and corporate goals are met. These duties may include policy creation, logistics, data analytics, ethics, production, forecasting inventory, assisting in marketing, setting and reviewing budgets, and managing aspects of employment for your personnel, like scheduling and performance reviews.

Operations managers must be flexible; they require diverse knowledge and skills. This vital adaptability and preparation for a variety of tasks and situations are gained through MBA programs.

  • Median Salary: $99,310
  • Expected Growth Potential (2012–22): 7%

Investment Banker:

Investment bankers provide leaders with investment advice to grow their capital and increase the value of the organization. They do this by providing insight into the purchasing and managing of debt and assisting in the transition during mergers or acquisitions. Investment bankers ensure that all paperwork is in order and all regulations have been met.

An investment banker requires a combination of economic and business expertise to navigate the complexity of financial deals being made. They must be adept at critical thinking, finance, data analytics, and possess distinct attention to detail. This specific knowledge and skill set are foundational in MBA programs.

  • Median Salary: $258,000 (The salary of an investment banker has a wide range. It is typical to start out closer to $100,000 with high potential for increases.)
  • Expected Growth Potential (2014–24): 10%

Financial Advisor:

Unlike the other fields we have been discussing, a financial advisor doesn’t necessarily work with businesses. Instead, a financial advisors typically deal with individuals. They offer financial advice and financial planning for people’s future. Financial advisors may help someone plan for retirement or simply offer investment advice to increase individual wealth. It is the job of a financial advisor to ensure their clients make good investments and create plans to ensure their client’s future.

As you can imagine, a financial advisor must have a strong understanding of finances and the economy. Additionally, a financial advisor must be good at analysis to determine the best plans for their clients and the communication skills to articulate those plans to their clients. These skills are core features of an MBA.

  • Median Salary: $90,530
  • Expected Growth Potential (2014–24): 30%

So, What Can You Do With an MBA?

You began by asking, “What can I do with an MBA?” Now you have some specific examples of what’s available to MBA graduates. The Master of Business Administration enhances your knowledge of common business principles and areas. It boosts your skills for working in a business, making you the type of candidate that businesses are looking to hire for their top positions. An MBA opens a plethora of post-MBA career paths to consider, offering you a diverse path forward.

Take a step closer to the career you want. Contact business professionals at Augsburg University or request specific MBA program information.

Difference Between Executive MBA vs. Traditional MBA

The Master of Business Administration (MBA) program is a popular master’s degree. It is a great program for advancing your opportunities in the business world. However, when looking to advance your education and expand your possibilities, it is important to understand which MBA program is right for you.

There are different types of MBA programs, such as full-time, part-time, online, executive, and global MBA varieties. Each MBA program has a purpose, but we will focus on the full-time (traditional) MBA and the executive MBA. To know which program is the right fit, it’s important to describe each program along with the differences between the MBA and EMBA.

Traditional MBA

The traditional MBA is an advanced degree focused on teaching the knowledge necessary for high-level corporate management. Typically, people pursuing a Master of Business Administration are seeking to improve their job prospects for the future.

There are numerous business-related areas in which an MBA focuses, including accounting, business management, economics, entrepreneurship, finance, leadership, marketing, and operations management. Because of this versatility, the MBA is an overarching business degree that covers the topics needed to operate in top-tier corporate environments.

The typical MBA program can take anywhere from two to four years to complete. The course load for an MBA is dense, as the MBA is one of the most extensive master’s programs. Due to this demanding amount of material, it is often difficult to continue working while taking the courses.

For this reason, MBA students are typically fresh graduates who are looking to pursue advanced degrees or young professionals who have only been in their career for a few years. Some programs estimate the average age of MBA students is 31 years old with six years of experience in their field.

Executive MBA

So, is an executive MBA the same as an MBA? The simple answer is no. However, the executive MBA (EMBA) does cover some of the same topics as a traditional MBA. Executive MBAs are designed for mid-career executive professionals. Students pursuing an executive MBA generally have a significant amount of experience in their current field and are looking to advance their station in that field.

The executive MBA is a focused program with an emphasis on executive level management. It covers topics like financing, marketing, accounting, and management. These classes are often focused on a specific area of study as well. This focus allows prospective students to tailor the executive MBA program they take to their desired field.

The standard time frame for an EMBA program is approximately two years. This is the same amount of time as some traditional MBA courses; however, the coursework is generally taken part-time and is less rigorous. Typically, students enrolled in an EMBA program are also maintaining a full-time job.

Classes in EMBA programs are often only a couple days a week or are offered on nights and weekends to accommodate the work schedules of their students. This makes the EMBA perfect for individuals currently in the workforce that are looking to advance to the higher levels of their managerial structure. Some estimate the average EMBA student is 37 years old with 14 years of professional experience.

Difference Between MBA and EMBA

Now that we have outlined the basic structure of the MBA and executive MBA, we can proceed to more specific differences between the MBA and the EMBA. Both the MBA and executive MBA are programs designed to increase their students’ knowledge and skills in upper-level business management. They both cover a wide variety of areas of business and are used to boost the potential job prospects of prospective students.

However, MBA programs are far-reaching and cover a large variety of topics. They require a full-time commitment and take years to complete. The executive MBA is a much less immersive program. This does not mean that an EMBA is a watered-down version of the MBA. Rather, the executive MBA is a more specific form of the traditional MBA. It offers less elective courses, allowing students to focus on specific areas of study.

The makeup of the student body in MBA courses compared to EMBA is significantly different. The MBA requires a considerable time commitment, so it is better suited to younger professionals that can commit the time. MBA students generally don’t work full-time and can engage in the larger program.

The executive MBA is more geared towards older professionals. The EMBA is only a part-time investment specifically structured around the standard work week. Those taking EMBA courses are likely already executives looking to improve their standing further.

As with the variation in job experience, the average age of students taking an MBA versus an executive MBA is different. MBA students are typically younger, in their late 20s to early 30s. Executive MBA students are older, averaging in the late 30s, and are more invested in their current field.

Does an EMBA Have the Same Value as a Full-Time MBA?

When deciding between an MBA and an EMBA, there are many variables to consider. Two considerations to address are the inherent value of each program, and if one program is better than the other.

It’s essential to discuss the cost of each program and how that correlates to your return on investment. MBA programs generally cost less than an EMBA. With that lower cost, you are also covering a more extensive branch of topics.

While EMBAs cost more, there is often more financial assistance available to EMBA students. EMBA students are typically already employed, and many companies will often offer partial or full tuition assistance. After all, they are also benefiting from the education being received.

However, the current employment of EMBA students may impose a limitation. EMBA students are usually limited in where they can attend EMBA programs. If they are tied to a specific employer, there is a geographic restriction on where they can receive an EMBA. MBA students do not have this limiting factor, allowing a much wider scope of institutions offering MBA programs.

The final variable to consider is job prospects. MBAs offer a wider variety of knowledge and thus have a wider availability of job prospects. If you’re looking to change careers down the line, having an MBA increases your marketability across more potential careers. Executive MBAs are more focused and can help you increase your standing in your current career, but may not be as well-suited towards switching careers.

The Bottom Line about MBAs versus EMBAs

When comparing the MBA versus the EMBA, the context and intention of your career can help determine which is a better fit for you. If you’re aiming to improve your overall job prospects and open the most opportunities, the MBA is likely the best fit. If you’re currently employed and hope to move up in your current position and field, an executive MBA is a strong choice. A program’s practical value to you is based upon your career goals.

Contact business professionals at Augsburg University or request specific MBA program information to determine which program is best for you.