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How to Study for the GRE Exam

The Graduate Record Examination is a test most prospective graduate students must endure before moving onto their new program, whether it be at the same institution as their undergraduate degree program or a different one. The GRE is meant to function as the college-level SAT, where colleges use your test scores as a baseline to measure your academic ability. Augsburg MBA student

Avoid falling into a pattern of asking, “Can I pass the GRE without studying?” The answer may be yes or it may be no, but one thing is for sure: You should not sell yourself short of the opportunity to do well on such a life- and career-altering test.

Passing the GRE without studying is not a legitimate plan, so here is a brief guide to some of the best GRE study tips and how to study for the GRE on your own.

How Hard Is the GRE Exam?

The difficulty of the GRE is dependent on the type of GRE test that you have to take. Your field of study and the program for which you are applying will determine this. The GRE is not a “difficult” test in the sense that it will challenge you to think critically and solve problems in the same way a midterm will test you on concepts you are newly grasping. Rather, the GRE is meant to prompt you to think in the manner required by your field.

For instance, individuals who are studying animal science may find the GRE is harder in terms of mathematics or critical thinking of data interpretation, whereas someone in the field of psychology may be challenged by interpreting symptoms or recalling nervous system physiology.

How Long Is the Exam?

The structure of the GRE and whether you are taking the General Exam alone or with an additional specialized exam determines the length of the test. The GRE General Test takes about three hours and 45 minutes and is divided into three sections: Verbal Reasoning, Quantitative Reasoning, and Analytical Writing.

The length of your test may slightly vary depending on whether you take a computer versus paper test, but any difference will likely be negligible.

How Long Does it Take to Study for the GRE?

The length of time it takes to study for the GRE is completely dependent on you. You can begin studying months ahead of time, or you could wait until a few days before. Here are a few examples of GRE study plans for those who want to start early and even those people who are pressed for time.

Creating a GRE Study Schedule

How long should you study for the GRE? Every individual’s time for when to start studying for the GRE will be different, but the ideal average study time for the GRE is between four and 12 weeks. These plans can be lengthened or shortened to work best for you. If you’re wondering how long to study for the GRE on a daily basis, we have that information here for you, too.

The most important thing to keep in mind is that no one should wait until the very last minute to study for the GRE. Although none of the topics on the GRE should be new to you, you need ample time to practice and perfect your knowledge and test-taking skills. This means using the best GRE study guide available to you, reviewing concepts on your own, and taking the GRE practice test.

Two-Month Study Plan

It is ideal to start early with your GRE study prep, but not so early that you lose any structure to your study plan or so far ahead of the test that you no longer remember the review material. Starting two months ahead of your test date is by far the best way to study for the GRE, as you have ample time to determine your strengths and weaknesses and sculpt your GRE exam study plan around them.

Where do you begin? Your first step, especially when starting early, is to take the full-length GRE practice test in order to create a “baseline” for your study plan. What was your score for the practice test? Is there room for improvement? What question types did you struggle with? Having this understanding of your test-taking ability and appreciation for your strengths will help you to know what to spend time on during your study period.

Once you have this foundation, dedicate a few (three to four) hours of your day a few times a week to studying. Try to get your study environment as similar to test conditions as you can.

Another way to maximize your studies for the GRE in two months is by having someone else plan your studies for you. Perhaps you can enroll in a class. There are classes available to help you develop a structured study strategy and to work on your test-taking techniques. These courses are available in person or online; it may be best to enroll in a course type that is most similar to your future test-taking conditions (i.e., online class for an online GRE test).

One-Month Study Plan

Although you may have slightly fewer ways you can approach studying (meaning you may not have the option of taking certain GRE courses), one month is still plenty of time. How to study for the GRE in a month looks quite similar to the two-month plan with only a few adjustments.

With the one-month plan, you still have ample time to identify your academic problem areas and determine the specific subject areas you need to improve on. This said, you will need to start your one-month study plan with taking a practice test as well.

Instead of just a few times a week, you will need to practice every day on a one-month study schedule.

Two-Week Study Plan

First of all, don’t worry. No, it isn’t ideal that you have to study for the GRE in only two weeks, but you are not alone. Many people have found themselves in this position, and some even prefer it this way.

Your best option for studying when pressed for time is to use the official guide to the GRE general test. This is ideal because you have all of the practice and study materials in one compact item that you can take along with you to work and school.

Because a lot of people struggle with mathematics under test conditions, especially when being timed, it is highly recommended that you practice solving mathematics and quantitative data questions in conditions similar to that of the formal test. Alternate topics by day to make sure you get as much time with each one as possible. This way, you will have given yourself as much time as possible with each topic to be fully prepared.

If you are confident in your preparation for one topic versus another, feel free to give yourself more time with the topic that gives you the most trouble.

Strategies for Studying

There are several different aspects to developing a thorough strategy for studying for the GRE.  These strategy aspects may differ based on your individual study methods and the amount of time you have available to dedicate.

Build Vocabulary With Flashcards

Sure, it may make you feel like you’re back in grade school, but making flashcards when studying vocabulary for the GRE is one of the best methods to commit the words and definitions to memory.

How do you study GRE vocabulary when you have no clue what the words will be? There are many online resources that provide vocabulary lists of some of the most-seen words on the GRE general test. Kaplan is one of the most reliable sources, as they also offer the GRE test prep class.

Take Full-Length Practice Tests

Making the full-length GRE practice exam the first step to your study plan is essential to ensuring that you work on the GRE topics for which you need the most refinement. Of course, it’s important to prepare for each section of the test, including the analytical writing section. Many people find that they struggle with mathematics questions especially, so this is a great way to have some GRE math prep and determine the precise GRE math topics to study throughout your schedule.

Gauge Your Strengths and Weaknesses Early

This goes along with the need to take the full-length practice test at the beginning of your study plan. Determining your strengths and weaknesses early can be accomplished also through enrolling in a GRE prep course, as instructors and assistants will happily help you identify the areas you may find most challenging.

Enroll in a Prep Class

With the GRE test prep course, you’ll be given a personalized study plan with regular practice, study material on verbal and quantitative reasoning, along with the chance to do a full test run of the GRE general test in an actual test facility. Those are just a few of the many benefits that come along with enrolling in a GRE prep course.

Consider Prep Books

If you are able, take advantage of all the test materials available to you through the Educational Testing Service, especially if you are starting your preparation early! There are books available on single subjects, or you can prepare for the general test entirely.

If you don’t have the funds to purchase a GRE study guide, don’t worry! ETS offers a handful of free or low-priced materials to test-takers, including a downloadable study book. For those who struggle with mathematics especially, you can find the GRE math test prep separate from vocabulary and verbal reasoning in GRE math study guides.

Test Day Tips

Now that you’ve done all the heavy lifting, it’s time to bring this process to a close and take that test. Here are a few tips to make sure you are in your best frame of mind when you walk into that test center.

The Night Before

Do not cram. This is possibly one of the worst things you can do before any test, especially one as major as the GRE. Trying to cram too much information into your brain the night before your test will not likely help you remember anything. It will only increase your stress and anxiety levels.

What to Bring

You don’t have to bring much at all to the GRE general test.

The few things you do need to bring are:

  • Your photo ID
  • Water
  • Light snacks
  • Email or printed confirmation of your GRE registration from ETS
  • Pencils (Just in case, as most test centers will provide the pencils and scratch paper for you)

You will also need to know ahead of time what schools you wish to send your GRE score to. You will not be able to write them down and take that note in with you; going through a list ahead of time will ensure you get those scores sent to the right place(s).

Stay Relaxed

The best thing you can do for yourself, no matter how much you’ve prepared or how confident you may feel, is to stay relaxed before and during the test. A stressed and scattered mind is a guarantee that the test will not go your way since you will not be able to think clearly.

Getting some light exercise, like a short walk, and a full breakfast with plenty of water will help you to relax.

What If I Don’t Pass?

Many people struggle with this test, and it is not necessarily reflective of your academic capabilities. If you were not happy with your performance on the GRE, you can retake the test once every 21 days within one calendar year.

Next Steps

The question of How long should I study for the GRE? should now be gone from your mind, making you ready for the next steps.

Now that you have a plan for studying for the GRE, visit the ETS website to begin looking at dates to register for your test. Make sure to check if there are additional tests you need to take alongside the general test (for example, a student of zoological sciences may want to take the biology test).

Relax, breathe, study hard, and do your best to earn a GRE score that reflects your academic abilities and goals.

If you have more questions about MBA program requirements, request information from Augsburg University today.

GMAT Study Plan Tips and Best Strategies

Most business schools require applicants to take the Graduate Management Admission Test in order to be considered for admission. It’s true—another standardized test is required for further education, and your score is important in deciding your fate. However, as long as you study and prepare to the best of your ability, there’s no reason to go into the exam fearful of the end result or of the testing process, for that matter.Augsburg MBA student

Before committing to the exam, you should make sure you’re set on attending an MBA program, because the GMAT is specific to business school and it’s not cheap; it costs $250. Given the price of the exam, studying hard and getting your desired score the first time around is ideal.

The exam is meant to test how quickly you can think, so if you plan on acing the GMAT, you’ll need to learn how to create an effective study schedule, be strategic, and develop a solid toolkit of test-day tips. This guide includes GMAT exam tips and strategies for sticking to your GMAT MBA preparations.

How Hard Is the GMAT Exam?

If you’re asking yourself, “Is the GMAT hard?” and, “How do I even prepare for this?” don’t worry; these are common questions. The GMAT is meant to be challenging, as it is made to predict your performance in business school. Don’t let this deter you from performing well in business school and working to fulfill your dreams.

None of the information on the test is based on knowledge of business. Instead, it’s based on critical thinking, writing, logic, and high school-level math concepts. Because the GMAT is standardized, it’s easily learnable and the most difficult parts for a majority of test-takers—timing and format—can easily be studied ahead of time.

How Long Is the GMAT Exam?

The GMAT test length is 3 ½ hours; it takes some endurance. This time estimate includes two optional eight-minute breaks that you’ll certainly want to take advantage of. Even if you can only get a few minutes to rest and recharge your brain, it can really make a difference in performance.

How Long Does it Take to Study for the GMAT?

How long to study for the GMAT is a very important question, and the answer can differ greatly between people. The best GMAT test prep for you requires that you have an idea of your goal GMAT score. To figure this out, simply sit down, nail down your top programs, look at their desired scores, and base your goal on that.

This will determine when you should start studying for the GMAT. Depending on your schedule and how much time you have to dedicate to GMAT prep in your daily schedule, you will want to spend somewhere between one and three months preparing.

How Many Hours to Study for the GMAT

How long does it take to prepare for the GMAT? Most people spend at least 50 hours studying for the GMAT. However, this doesn’t mean that you should scramble to study for as long as you can without making a plan. Creating a GMAT study plan will help maximize your score while making sure you don’t waste time over-studying. Fifteen study hours in a week or less allows you to leave time for your other responsibilities and won’t let you cram, which can be counterproductive.

Creating a GMAT Study Schedule

Making a GMAT study plan keeps you organized, ensures you cover all the right concepts, and helps track your progress. There are three primary factors to consider in a GMAT study schedule: your goal score, the amount of time until you take the test, and your strengths and weaknesses as a student.

Let’s break down the differences between a three-month study plan, two-month study plan, and one-month study plan. In the first example there’s an actual outline of a study plan so you can see what one can look like.

Three-Month Study Plan

The three-month study plan is the most common and the best way to prepare for the GMAT. You’re able to put in far more than 50 hours of study over a long period of time, which likely means a higher score. You don’t need to cram; instead, you can work at your own pace.

  • Week 1: Get Familiar With GMAT
    • Learn about the test, the format, questions, and scoring.
    • Take a GMAT practice test and make it as real as possible. Then review your results and note your strengths and weaknesses.
  • Week 2: Quantitative Section
    • Review this section of the test: math strategies, formulas, basic algebra, geometry, and word problems.
    • Don’t be afraid to make flash cards to help your memory; they could be your ticket for how to ace GMAT math.
  • Week 3: Verbal Section
    • Review this section of the test. Research GMAT reading strategies to find your best fit.
    • Practice sentence corrections and make flashcards to brush up on your grammar fluency.
  • Week 4: Practice Test
    • Take another practice test. Again, make it as real as possible.
    • Review your results and examine what went wrong.
    • Practice the question types that you struggled with most.
  • Weeks 5 and 6: Quantitative and Verbal Review
    • In these weeks, really dig into your GMAT study resources and get deep into these subjects.
    • For math, do practice drills, data sufficiency questions, and problem-solving questions.
    • For verbal, work on reading comprehension, critical reasoning questions, and verbal questions.
  • Week 7: Practice Test
    • Repeat the practice test and review process from Week 4.
  • Week 8: Analytical Writing Assessment and Integrative Reasoning Practice
    • Review Analytical Writing Assessment strategies and practice writing prompts.
    • Practicing IR questions is the best way to prepare for the section. It will give you a sense of the data analysis you’ll be expected to perform.
  • Week 9: Review Quantitative and Verbal Sections
    • Review your weakest sections from the practice test in Week 7.
  • Week 10: Practice Test
    • Take another practice test and do exactly what you did in Weeks 4 and 7.
    • Take note of your progress and celebrate your hard work.
  • Week 11: Review
    • Review your weakest sections from last week’s practice test.
  • Week 12: Light Review
    • Lightly review whatever may need a little more attention, but for the most part, rest your mind and body. That is an integral part of preparation for the test.

Although three months of studying produces the best scores, dedicating that amount of time simply doesn’t work for many people who have busy lives and families.

Two-Month Study Plan

The two-month guide is the recommended GMAT prep for working professionals. The benefit of this schedule is flexibility. It’s spread out over a period of time that allows someone to get 50 hours in at the very least without having to spend hours studying every single day.

  • Days 1–2: Build Your Base
    • On these first days, familiarize yourself with the test, what each section covers, and how it’s scored.
    • Take a GMAT practice test. Take the test in a quiet place where you won’t be interrupted for the full 3 ½ hours. Review your results and identify your strengths and weaknesses.
  • Weeks 1 and 2: Strengths
    • In these weeks, work on your strongest sections. Use the guides and resources you have to get used to the format of the sections and wording of the questions.
  • Weeks 3–5: Weaknesses
    • Take this time to work on your weaker sections. Whatever your strengths or weaknesses, make sure you review different testing strategies during these weeks to find what works best for you.
  • Week 6: Mixed Practice
    • This week, hone in on what needs attention. Practice some questions from a section within a timed limit and then move on to another. Once you’ve done a mix of timed practices, go through and analyze your mistakes.
    • At the end of this week take another practice test and make the conditions as realistic as you can.
  • Week 7: Identify Remaining Weaknesses
    • Go through your last practice test and analyze your results. Figure out where you struggled the most and spend your time working on those concepts.
    • Use your study resources to review and practice the Analytical Writing Assessment and Integrative Reasoning portions of the test.
  • Week 8: Ease Up
    • Take another practice test and analyze it just like you did last week.
    • One or two days before the test, lay off the studies and relax. It is important to give yourself a break and rest up for the big day.

The drawback of this schedule is that if you’re looking for the highest score possible, beginning your studies three months out is still the best way to study for the GMAT.

One-Month Study Plan

The benefit of a one-month study plan is that it allows you to get down to business. However, if you don’t have a lot of extra lead time, getting those 50 hours of study time in can quickly become a challenge.

The first step in this plan is to take practice tests to identify what you absolutely must master in the next four weeks.

  • Days 1–2: Familiarize Yourself (5 hours)
    • In the first couple of days, familiarize yourself with the test; how it’s scored, the format, and types of questions.
    • Take a GMAT practice test and take it seriously. This will help you identify strengths and weaknesses. Review your test results and use them to decide where you’ll need the most practice.
  • Days 3–7: Quantitative Section (10 hours)
    • Focus on the quantitative portion of the test. Review algebra, geometry, word problems, and number properties.
    • GMAT math practice tests are available for each topic, as well as resources to guide you on the formulas and strategies to use.
  • Days 8–12: Verbal Section (8 hours)
    • Familiarize yourself with the content covered in this section. Make sure to practice sentence corrections.
    • Read up on GMAT verbal study plans and reading strategies to find the one that works best for you.
  • Day 13: Practice Test (4 hours)
    • Take another practice test. Afterwards, review your results to know what needs attention.
  • Days 14–18: Quantitative Section (10 hours)
    • Keep reviewing your math skills and practicing GMAT quantitative questions. If there are parts you struggle with, make flashcards and review them whenever you have time.
  • Days 19–23: Verbal Section (12 hours)
    • Review the types of questions you struggle with and find reading strategies that work for you.
    • Flashcards can be helpful for grammar and other concepts that you’re likely to see on the sentence correction section.
  • Day 24: Practice Test (4 hours)
    • Take another practice test and review your results again to hone in on what needs extra practice in the final days before the test.
  • Day 25: Analytical Writing Assessment (3 hours)
    • Use your GMAT resources to review strategies and practice writing prompts.
  • Day 26: Integrated Reasoning (3 hours)
    • Use your resources to learn about the questions, structure, and general make up of this part. Practice test questions.
  • Day 27: Practice Test (4 hours)
    • Take another practice test and do your best to simulate the real thing. Still review your results to note what you can lightly review in the days leading up to the test.
  • Days 28–30: Light Prepping (5 hours)
    • Do minimum review and maximum resting. Do some light review if you feel you need to, but otherwise, just rest so you can bring your best on test day.

This plan has recommended time allotments to help you make sure you log enough study hours. Studying for one month probably won’t result in as high of a score as two or three months of studying, but you’ll at least be able to cover the basics required for passing the GMAT.

Strategies for Studying

The best GMAT test strategies depend on what type of student you are, but there are some tips for studying for the GMAT that will help you navigate this process and improve your score no matter what. Additionally, these GMAT tips will help you parse out the strategy that will work best to your advantage.

Study the GMAT Handbook

The GMAT Handbook is an excellent resource, especially if you don’t know others who have taken this test before. It contains advice on how to sign up for a test, what to do before and after the exam, and everything in between. It is the No. 1 go-to for all things GMAT.

Gauge Your Strengths and Weaknesses Early

Standardized tests aren’t intuitive for everyone, but you can still learn how to ace the GMAT. Identifying early on which elements of the test (i.e., format, content, timing) are your strengths and weaknesses can help you get the most out of your prep time.

Take Full-Length Practice Tests

Full practice tests are the best aid for GMAT strategy. Take them seriously. Do them in one sitting with no interruptions. Try to be consistent with this as you progress in your study schedule to track your progress. If you take test prep courses seriously, you’ll be able to pace yourself, know how questions are phrased, know the focus of each section, and be able to develop strategies.

Enroll in a GMAT Prep Class

If managing your studies all on your own seems too daunting, or you know that you won’t stay on track without extra guidance, enroll in a GMAT prep course.

Consider Prep Books and Software

GMAT prep books and software are necessary to study on your own. They contain top-notch GMAT advice. Here are some places for you to start:

Test Day Tips

Once all the preparation comes to a close and test day actually arrives, some last minute jitters and worries tend to crop up. Here are a few more GMAT test-taking tips to help you prepare and stay calm on the big day.

The Night Before

Rest well the night before the test. If you study at all the day before, don’t cram in extra practice tests at night. Your body and mind need a break, so close your books, do something relaxing, and get a good night’s sleep.

What to Bring to the GMAT

You’ll need a valid, government-issued photo ID and, if you would like, bring the details of up to five MBA programs to send your scores. You’re certainly not required to do this, but it’s included in the $250 for the test.

You might not like the score you get and won’t want to send it to your top-choice schools. Just know that it’s an option that can save you money so you don’t have to pay to have your scores sent again.

For your personal benefit, bring water and snacks to eat during the breaks.

Remember to Relax

Try not to get too worked up about the test. Don’t rush yourself; if you get caught up on a question, do your best to find the right answer but keep moving along.

What If I Don’t Pass?

If you don’t pass, don’t be discouraged. There are still options. You can take the test again. Standardized testing doesn’t always come easy and it can take a few tries to adjust to it.

Additionally, knowing which MBA program is the right fit can be a tough decision. There are countless options to consider.

There are even MBA programs like Augsburg’s that don’t require the GMAT to apply.

Next Steps

The GMAT can seem daunting, but it doesn’t need to be. Take the time to study and prepare so you can open doors to a bright future with an MBA degree. If you have more questions about MBA program requirements, request information from Augsburg University admissions today.

Complete Guide to Getting an MBA in Leadership

Are you considering getting a Master of Business Administration with a leadership focus? If so, you’ve probably started your initial research and are realizing how much there is to consider. Is a master’s degree in leadership or an MBA right for you? What are your career goals? Are you looking to fine-tune skills for a promotion or do you want greater flexibility in your professional life? Taking into account your career goals is one of the most important factors to account for.Augsburg MBA student

Once you’re ready to enroll in a master’s or MBA program, your first step will be the application process. Planning and preparation can help ensure the admissions process runs smoothly from the time you submit your application materials through the interview with the admissions committee.

Upon completion of the program, you’ll need to determine if an internship or additional certifications are worthwhile. This guide covers what to expect from admissions, the program itself, and insights for what follows the completion of your MBA.

What is an MBA Concentration in Leadership?

An MBA in leadership is valuable in the business world. Top MBA leadership development programs grow both interpersonal and business skills that are necessary to be successful in leadership roles. Communication, coaching and consultation, and decision-making are a few essential skills that will be gained through an MBA program.

While working toward an MBA in business leadership, students will learn how to be effective in business whether it be a small company or global corporation. Graduate students in an MBA program with a leadership concentration often plan to work in management and even executive roles. Students admitted to an MBA program typically already have a few years of work experience in their field, usually in a management capacity.

Master’s in Leadership vs. MBA in Leadership

Is an MBA with a leadership concentration or a master’s degree in leadership right for you? While both can be beneficial in developing your career, there are a few key differences that should be taken into account when choosing a program.

A master’s in leadership is better suited for those planning to move through the ranks within their company into a leadership position or are current leaders wanting to strengthen their skills. Master’s programs in leadership have a focus on techniques and skills such as human resources, project management, and communication. A master’s in leadership is typically completed in less than two years.

An MBA concentration in leadership covers a variety of business topics including marketing, HR, and finance. The leadership concentration allows for leadership-focused electives to be taken in addition to the core curriculum. An MBA program takes longer to complete—26 months—than a master’s but is geared toward professionals who want greater flexibility in their careers.

Core Curriculum for an MBA in Leadership

A leadership MBA takes 26 months to complete at Augsburg University. Throughout the program, students will complete 42 credits. Students should expect to spend about 28 to 32 hours each week in a classroom and an additional five to nine hours in an online classroom environment.

Augsburg Syllabus for an MBA in Leadership

The Augsburg MBA leadership syllabus requires that 14 courses be successfully completed. Twelve of these courses are core requirements for the MBA program. The other two courses should be electives that are specific to the leadership concentration. Any two leadership electives can be chosen from the Master of Arts in Leadership program.

MBA in Leadership Requirements

Once you’ve chosen to obtain an MBA with a concentration in leadership, next you’ll need to begin the admissions process. Be sure to review application requirements carefully to ensure you complete all admissions tasks. Common admissions requirements are:

  • GMAT, GRE, or an alternative with MBA math modules
  • Work experience
  • Letters of recommendation
  • Essay questions
  • Admissions interview

GMAT or GRE

Students will need to take either the GMAT or GRE for admittance into the MBA program. Either exam is accepted though there are differences between the two. The GMAT is specific to MBA programs whereas the GRE is accepted across many other programs. If applying for an executive MBA leadership program, some universities may waive exam requirements if specific qualifications are met. Some MBA programs, like Augsburg University, do not require the GMAT for admission.

Work Experience

Work experience is often a requirement when applying for an MBA program. At Augsburg, a minimum of two years of relevant work experience is preferred, though previous academic achievements are also taken into account. At many graduate schools, students seeking an executive MBA are often required to have at least five years of managerial work experience.

Letters of Recommendation

Letters of recommendation are required during the admissions process. These letters should be from your current or past employers and detail your professional achievements. For the leadership concentration, the letters should highlight any projects or teams you’ve successfully led. Two letters of recommendation should be included with your application to Augsburg.

Essay Questions

Augsburg requires applicants to respond to two essay questions. Responses to MBA leadership essay questions should exhibit the applicant’s strengths and tell the admissions committee more about them. Applicants should showcase their leadership skills in their responses by detailing projects and work experiences where they have demonstrated leadership qualities.

Admissions Interview

Upon the approval of your application, the next step is an interview with the director of the program. For the interview, the applicant will need to meet with the director on campus or, in some cases, via Skype or Zoom video conferencing, or a telephone interview. While interviews may seem daunting, there are plenty of resources available to help you prepare for questions that may be asked and questions you should consider asking.

While questions that may be asked during the admissions interview will vary from school to school, there are many common questions. A few questions to be prepared to respond to are:

  • Why do you want to pursue an MBA in Leadership?
  • What work or academic qualifications do you have that will contribute to the program?
  • How will the MBA program help in reaching your goals?

Once the director has finished asking interview questions relevant to your application and MBA goals, it’s your turn to ask the committee questions. Below are some questions you should ask the interviewers:

  • Do you have a study abroad program that may be beneficial to an MBA global leadership graduate student?
  • Do you have a field study course to apply the knowledge gained in the program?
  • What are my choices for MBA concentrations?
  • Are there any organizations you’d recommend a student in this concentration should join?
  • What advice do you have for incoming MBA students?

After an MBA in Leadership, What Can I Do Next?

Decision-making, strategy, and communication are senior leadership skills that companies value. These are just a few traits you’ll develop and grow in the best MBA for leadership programs. What should you do once you’ve earned your MBA? Should you put what you’ve learned to use in an internship or should you take additional courses to continue building these skills?

Pursue an MBA Internship in Leadership

Internships are a great way to put to use your knowledge and skills after earning your MBA in leadership and management. Not only will you be gaining hands-on experience and have the opportunity to apply your skills in the workplace, but it’s a great way to scope out different industries to see which is most appealing to you.

MBA students can take internships before or after completing their degrees. These internships may be at large corporations in industries such as finance, IT, health care, or consulting. MBA medical leadership graduate students may prefer to find an internship in the health sector. Those using their MBA in education management and leadership fields may look to intern at schools and education-focused foundations.

Certification Courses After an MBA in Leadership

Many students seek leadership development programs after earning their MBA. A graduate certificate in leadership at Augsburg will fine-tune and build skills acquired from the MBA program. By taking additional leadership courses, recent MBA grads can continue to grow both personally and professionally.

MBA in Leadership Careers

What can you do with a leadership degree? There are many different career paths that a recent MBA grad may pursue. Whether you’re looking to work in a global corporation, a small company, or start your own business, a leadership and management degree is an asset.

HR Manager

Human resource managers plan and manage decisions, policies, and processes that impact employees. They oversee hiring and recruiting and often assist leadership in strategic planning for growth and employee programs. The job outlook for HR managers is favorable, growing faster than average over the next several years according to the Bureau of Labor Statistics.

Median salary: $113,300

Management Analyst

An MBA in leadership management is beneficial for management analysts. These analysts, also known as management consultants, work within the business of their clients to make the business more efficient. Often working with upper management on strategies to increase profits and reduce costs, strong leadership skills such as communication and empathy will come in handy when interviewing employees and presenting proposed changes. This often travel-heavy job is growing in demand much faster than average.

Median salary: $83,610

Top Executive

Top business executives are involved in important strategic planning and decision-making. In addition to several years of experience, these individuals must display strong executive leadership qualities for working with employees at all levels within an organization. The demand for top executives is expected to continue growing at an average pace.

Median salary: $189,600

MBA in Leadership Salary

Earning an MBA in project leadership and management sets you up for success and financial security. An MBA in organizational leadership salary will vary due to a number of factors. The type of industry, company size, work experience, and location can all impact the salary earned.

Analysts make a median salary of more than $83,000 per year. Someone with several years of experience working as a top executive typically makes upwards of $105,000 annually.

Resources and Books

Many resources are available to professionals and grad students considering an MBA in leadership. It’s encouraged for students to review admissions requirements, course details, and course materials.

In addition to course requirements, the college bookstore is a great place to get a head start on reading and also pick up other suggested texts. All of these tools will help students gain a better understanding of what the program and courses entail.

Ready to Apply?

Once you’ve determined that an MBA in leadership is the right path for you and your career goals, it’s time to get started on the application process. Don’t forget to take a look at admissions requirements.

What are your next steps? Get in touch with admissions to request additional information and to address any other questions.

Can You Get an MBA Without Taking the GMAT Exam?

Can you attend a Master of Business Administration degree program without providing your Graduate Management Admission Test scores? For a variety of reasons, many MBA applicants prefer not to take the GMAT. The registration cost may be prohibitive, exam locations may be impractical, or work schedules may interfere with study time.Augsburg MBA student

Regardless of the particular circumstances, there are many students who seek MBA programs that do not require the GMAT. The good news? Many universities accept alternatives to the GMAT or waive the exam requirement altogether. In fact, Augsburg University offers MBAs that don’t require GMAT results.

What are GMAT alternatives? Under what circumstances might the requirement be waived entirely? Accepted alternatives vary from school to school, but most programs require applicants to have strong academic backgrounds and at least a few years of relevant work experience.

So, is the GMAT the smarter choice for you, or should you explore other options? Keep reading to learn more about the GMAT and its alternatives.

Can You Apply to an MBA Program Without GMAT Scores?

There are many MBA programs without GMAT requirements. Some programs waive the GMAT requirement entirely if the applicant has enough relevant work experience and satisfactory academic performance. Other programs accept a GRE score in place of the GMAT.

Executive MBA programs often do not require the GMAT because they’re designed for professionals who have several years of managerial experience. There are countless alternatives out there; getting an MBA without GMAT scores is possible!

Universities That Don’t Require GMAT for MBA

There are many MBA universities in the United States without GMAT requirements. Augsburg University is one of them. The best MBA without GMAT universities evaluate the applicant’s previous academic performance and relevant work experience during the admissions process. The GMAT or an alternative test may be beneficial; however, a strong background in business can outweigh standardized test scores.

Augsburg University works with students who do not have a strong quantitative background by enabling them to take MBA math modules online. The online modules are self-guided tutorials that help students become familiar with key accounting, finance, economics, and statistical terms that help pave the way to a successful MBA experience.

Applying to Executive MBA Programs Without GMAT Scores

Executive MBA programs with no GMAT required appeal specifically to those who have been working in a managerial or executive role for at least a few years. Since EMBA students have prior work experience, the GMAT requirement is often waived. If transcripts from previous studies indicate any reason for concern, some colleges may still require that the GMAT or another exam be taken prior to admittance.

Why Do MBA Programs Require GMAT?

Many MBA programs have a GMAT requirement. Several of these schools have found that the exam accurately assesses the student’s success in the MBA program. Some schools prefer to base admission on GMAT scores because the exam is standardized. This means that the content of the exam is fair, and it is taken in the same format by all students, leaving little room for bias or skewed judgement.

Pros of the GMAT

Though the standardized GMAT test does have some critics, there are several reasons why a school may be in favor of using GMAT scores during the admissions process. A few benefits of the GMAT are:

  • Everyone takes the test in the same format and within the same time frame.
  • The GMAT accurately assesses a student’s comprehension and analytical skills.
  • Completion of the GMAT shows that a student is committed to a career in business.

Cons of the GMAT

Many universities recognize some of the limitations of the GMAT exam. Some universities will accept GMAT alternatives or even waive the requirement for professionals. Some limitations of the GMAT exam are:

  • High test scores do not necessarily indicate a student will be successful in business.
  • The prioritization of test scores over relevant work experience and previous academic success hampers the admissions process.
  • Many test-takers receive scores that differ significantly from one attempt to another.

Reasons to Skip the GMAT

There are many reasons why graduate students may opt to join an MBA program without GMAT requirements. Skipping the GMAT may be a reasonable choice for some due to the exam’s difficulty, cost, and prep time.

It’s Difficult (Low Score)

The GMAT is challenging. It focuses heavily on mathematics and analytics. The majority of students who take the standardized exam receive scores between 400 and 600. Only a small percentage of students score higher than 700.

It’s Expensive (High Cost)

The GMAT is a costly exam. It costs $250 to register for the exam. Rescheduling or canceling after registration results in additional fees. Transportation and hotel expenses may be incurred if one must travel to the GMAT exam location.

It Takes Time

The GMAT is time-consuming. You must register for the exam well in advance and study for at least three months prior to the exam. The time it takes to prepare for the GMAT may be a burden for full-time professionals. It isn’t uncommon for students to retake the exam if they are dissatisfied with their scores, necessitating additional time and money.

Alternatives to the GMAT

Taking the GMAT isn’t the only way to be admitted to an MBA program. There are other testing alternatives to the GMAT exam. Some may opt to take the GRE instead of the GMAT. Others may be better suited for an EMBA program.

Opt for the GRE Exam

Students seeking an MBA with no GMAT required may consider taking the GRE exam instead. The GRE exam can be used in place of the GMAT and is widely accepted by many graduate programs.

The GRE is similar to the GMAT, but it is structured differently and focuses more on reasoning skills instead of analytical skills. The GRE is an attractive option for prospective students due to the lower registration fee.

Apply for an EMBA

An executive MBA without GMAT requirements is a great alternative to consider. EMBAs are ideal for those who have been working in the business world for some time. These applicants generally have at least five to 10 years of work experience in mid-level or senior roles. Executive MBA admission without GMAT scores stresses previous work experience over GMAT scores.

Consider a Program That Doesn’t Require GMAT

MBA programs that do not require GMAT scores are becoming more common. Many universities, including Augsburg, examine other factors during the admissions process. They look at past academic performance and work experience instead of GMAT test scores.

Some graduate programs that don’t require GMAT (or even GRE) scores may ask that you complete specific math modules in place of a standardized exam.

Next Steps

Understanding the benefits and limitations of the GMAT and its alternatives is important when beginning the admissions process for an MBA program. Now that you know the GMAT is not required by all universities, it’s time for you to determine your next step.

Is the GMAT or GRE right for you? Once you have decided your plan of action, it’s time to hit the books or get busy applying to an MBA program.

Get in touch with admissions to request additional information and to address any other questions.

How to Get Your Company to Pay for Your MBA

You have worked in your chosen field for some time, and something has whet your appetite for some higher education. You’ve decided the time has come to head back to school and get your Master of Business Administration, but the cost of an MBA has put a damper on your academic zeal. Is there a way to have your cake and eat it too? Yes, there absolutely is. Fortunately, many employers offer assistance to cover the cost of an MBA. Your next step is to determine how to get a company to pay for your MBA.Augsburg MBA student

First, you will need to discover whether your company has a sponsorship program. If they do, it is wise to familiarize yourself with the policies and requirements. If your company doesn’t have a specified, official process for tuition reimbursement, do not despair! It is still likely that your employer will offer some form of support.

This guide explains how to ask your company to pay for a portion of your MBA regardless of the existence of an outlined sponsorship program.

Do Companies Pay for MBA Degrees?

Why would a company offer to pay for an MBA? There are many companies that offer employer assistance for completing an MBA program. Aside from benefiting the employee, company-sponsored MBA programs benefit the company as a whole.

Students earning their MBA acquire valuable skills that are relevant to their roles and will enhance their job performance. Covering tuition costs will also increase employee retention and company loyalty.

So, how can you get your job to help pay for graduate school? There are two primary ways that companies pay for master’s degrees. One method is via fellowship programs. The other system is through tuition reimbursement.

Fellowship Programs

A fellowship program is another option to consider when determining how to get a company to pay for your master’s. Fellowships are similar to scholarships; however, they are often merit-based. Funds usually come from a private foundation that the company created. A fellowship will typically be offered to high-performing employees who excel in their field.

Tuition Reimbursement

A tuition reimbursement program is a more common MBA sponsorship method that employers offer. Depending on the employer’s policies, tuition reimbursement programs may cover the cost of an MBA fully or partially. There are often specific requirements that must be met in order for an employee to be reimbursed. Typically, an employee must remain at or above a specific academic level in their courses. Employers also usually require that employees stay with the company for a specified amount of time, a year or two, upon completing their MBA.

How to Find Out If Your Company Offers MBA Sponsorship Programs

How can you find out if you can get study support from employer-sponsored MBA programs? Your first resource will be the company’s employee handbook. If you still have questions regarding programs your employer offers, your next step will be to speak with Human Resources. Coworkers who have an MBA are also an excellent resource when it comes to corporate-sponsored MBA degrees, especially if your company doesn’t have a formal process.

How to Ask Your Boss to Pay for a Course

How do you ask for tuition reimbursement? When asking your manager or company to assist with the cost of an MBA, it is a good idea to anticipate any questions or concerns they may have. It’s also important to ensure that you specify other potential necessities you may require while pursuing an MBA, such as a flexible work schedule or financial reimbursement for textbooks or software.

Know What You’re Asking For

When deliberating over how to get your MBA paid for by your employer, it’s important to take into account other needs you may have as a student and employee. Will you require a more flexible work schedule to accommodate classes or seminars? Additionally, will you need assistance with other MBA-related costs? These other costs may include:

  • Deposits
  • Registration fees
  • Textbooks
  • Software
  • Technology fees

Understand Your Company’s MBA Sponsorship Policies

Before asking your employer to sponsor your MBA, you should have a thorough understanding of the sponsorship policies your employer may already have in place. The employee handbook or your HR department are both useful resources when researching the requirements and processes pertaining to an industry-sponsored MBA.

Sample Proposal for Employer to Pay for Education

What comes next? You now understand your company’s policies regarding covering MBA costs. You also are aware of your other needs to be accommodated. The next step is to create a strong proposal for your employer to pay for your education. You should treat the proposal like a business pitch. It should be professional and concise. Prior to composing the proposal, it would be prudent for you to glance at sample proposals.

These are the elements that comprise a successful proposal:

  • Your accomplishments at the company
  • The total cost you expect your company to pay or reimburse
  • If you will need time off for classes, seminars, and projects
  • An explanation of how the MBA program is relevant to your work and to the company
  • A specific length of time you commit to staying at the company after you complete your MBA

Tips for Getting Support 

In order to get support from your employer, you will need to prove your dedication to the company and detail the benefits your MBA would provide the company. You should be prepared to enumerate your accomplishments at the company and discuss how they impacted the company positively. Additionally, you should express how an MBA will be an asset to the company.

Be Ready To Highlight Your Performance

You should be prepared to demonstrate your worth to the company. At this juncture it is sensible to highlight the major accomplishments you achieved during your time with the company.

  • Have you closed a business deal that brought significant revenue?
  • Do you support a major customer of the company?
  • Did you discover an area where costs could be reduced significantly? How much money has this saved the company?
  • Discuss a project you led, any obstacles you encountered, and the project outcome.

Prepare to Pitch the Program Benefits

Asking for sponsorship necessitates the use of your powers of persuasion to argue for tuition reimbursement. When asking your employer for MBA sponsorship, it’s imperative to stress how the company will benefit. You should take into consideration the value an MBA can add to the company and the employee loyalty it inspires.

During an MBA program, employees hone existing skills and acquire new abilities. This often results in a fresh business perspective and enhanced decision-making skills. Aside from benefitting the employee, an MBA ultimately is an asset to the business that can impact processes and profits favorably.

Employer sponsorship can also increase company loyalty and employee retention. Employees often commit to remain at the company for at least two years after completing an MBA program.

Focus on the ROI

When asking for support from an employer sponsorship master’s program, you’ll need to focus on the return on investment, or ROI, for your employer. Your employer will want to see how you will use your new skills and knowledge to promote the welfare of the company. During your pitch or any discussions that may follow, be sure to specify the areas where your degree will be an asset, such as:

  • Improving your leadership, ethical, and organizational skills
  • Mentoring junior-level employees
  • Strengthening business skills like data analysis, decision-making, finance, and conflict resolution
  • Networking opportunities that may result from access to new clients or partnerships

How to Get Started

When learning how to get a company to pay for your MBA, it will take research and clear communication to get your employer to cover your MBA costs.

Do Your Research

Learn about your company’s policies on tuition reimbursement and fellowships. It’s also a good idea to find out whether the funding is coming from the company itself or the department budget.

Network With Your Coworkers (Especially the Ones With MBAs)

Before starting the process, it’s wise to connect with coworkers who have an MBA. They can support you throughout the process and answer any questions you may have about employer sponsorship or the MBA program itself. A few good questions to ask are:

  • What was your experience with the reimbursement process?
  • What other costs may the company cover?
  • How has your degree benefited the company?

Talk to Your Manager

Speak with your manager about the employer-sponsored MBA program at your company. Your manager may be a great resource for finding out about programs offered by the company. After the initial meeting with your manager, you will likely have follow-up meetings to discuss your proposal and any additional questions or concerns.

Be Ready for a Backup Plan

There is a chance that your proposal may not be approved. Your company may not have a sponsorship program and may not have the funds available to cover the cost of your MBA. If your request for financial support from sponsored MBA programs isn’t approved, that doesn’t necessarily mean you won’t get any assistance.

You may ask for or be offered support in non-monetary ways. Some employers may offer flexible work hours to accommodate classes and other MBA program requirements. Other employers provide additional time off or compensation for the time you spend in class.

It’s no secret that the tuition for an MBA is not cheap, often exceeding $50,000. If you’re unable to get financial support from your employer, consider alternative funding options.

If you have more questions about MBA program requirements, request information from Augsburg University today.

How to Ask for an MBA Recommendation Letter

Asking for a letter of recommendation for a university academic program can be an intimidating and bewildering endeavor. You may find yourself floating in a sea of questions, wondering who to get letters of recommendation from, or how to ask someone to write a letter of recommendation.Augsburg MBA student

To help you plan your strategy for requesting a reference letter for Master of Business Administration program admission, we’ve crafted a comprehensive guide with tips and strategies so you can obtain a strong professional recommendation.

What is a Letter of Recommendation?

A letter of recommendation typically is a one- or two-page letter written by an individual who has a professional relationship with you. The letter can be from a work supervisor, director, vice president, or CEO in addition to a former faculty member, such as a business professor or instructor with whom you have developed a relationship. The letter should describe the aspects of your character that pertain to the job or opportunity that you’re seeking.

Why Do MBA Programs Require Recommendation Letters?

MBA programs require several years of work experience and the appropriate level of education to demonstrate your ability to contribute to classroom discussions, commitment to the program and your interest in the specified field of study. A letter of recommendation aids universities by affording a glimpse of your character. A character sketch in a letter of recommendation, as brief and biased as it is, still allows the college admissions team to obtain a more comprehensive idea of who you are and how you will contribute to the body of knowledge in the program.

How to Find Out If You Need a Letter of Recommendation

When applying to any college program, you need to adhere to all application requirements. To find out if you need one or more letters of recommendation, visit the program’s website and take a look at the admissions process.

If a letter of recommendation is part of the requirements, you may want to begin the process by looking at sample letters of recommendation from students who were accepted into the program.

Who to Ask for a Letter of Recommendation

Who can write a letter of recommendation? You may be stressed about who to ask for a letter of recommendation. The best individuals to ask for an MBA recommendation letter are:

  • Vice presidents, directors, managers, and supervisors
  • Professors
  • Mentors
  • Colleagues

Anyone you have worked with in a professional or academic setting and with whom you have developed a relationship is a good candidate to write your letter of recommendation. Relatives, friends, and peers are generally not the individuals who should write a letter of recommendation for an MBA applicant.

Asking a Supervisor for a Letter of Recommendation

A manager, supervisor, or other authority in the workplace is an ideal individual to write your letter of recommendation. They have the appropriate knowledge of your attributes and behavior to be able to provide an overview of  your professional character.

If you regularly report to the individual who is writing a recommendation on your behalf, they will be able to paint an accurate depiction of your composure in the workplace, your ability to follow directions in a professional setting, and your success with achieving professional goals. For these reasons, a reference letter for an MBA program from an employer can be a strong asset to your application.

A recommendation letter for an MBA student from an employer is essential for providing an accurate representation of your persona. A letter of recommendation for an MBA from a manager or supervisor can enhance your overall application. Continue on to find out how to ask a teacher for a letter of recommendation.

Asking a Professor for a Letter of Recommendation

Faculty members can provide a reliable depiction of your academic performance. Who better to vouch for your academic capabilities than the individual who has guided and graded your work? Be sure that the professor you select has had the chance to develop a meaningful relationship with you and will portray your character in the best light.

It is wise to choose a professor you’ve spent many office hours with or a professor who you’ve worked for in an internship or volunteer capacity. If you have had the chance to demonstrate the application of, understanding, and appreciation for discipline-specific work under the supervision of a professor,  then they are well-equipped to recommend your acceptance to an MBA program.

Recommendation Letter From Mentor

Since this is an informal relationship, you should specify which characteristics you want your mentor to vouch for. When requesting a letter of recommendation from a mentor, make sure the  mentor is not a family member or relative. Due to the informal nature of the relationship, you will need to justify your decision to choose this individual.

Make it clear why you believe this mentor is an ideal candidate to write your recommendation letter. Despite this caveat, having a mentor who can provide reliable commentary on your growth as an individual both professionally and personally can boost your image.

Recommendation Letter for MBA From Colleague

When asking for a recommendation letter for an MBA program from a colleague,  you need to understand which aspects of your character you are would like to highlight. A colleague will likely not be able to stress your professional or academic growth in a way that someone in a leadership role could.

Despite this potential downside, a colleague can potentially enhance your application by providing a solid recommendation as to your ability to develop healthy academic relationships. This is vital in industries that require stakeholder communication, group work, or other significant social interaction.

When to Ask for Letters of Recommendation

Always ask for letters of recommendation a few months before the deadline. Never wait until the last minute to request a letter of recommendation from anyone, regardless of whether they are an authority figure. Not only will it backfire as you may receive your requested letter late or not at all, but it is also inconsiderate of the person’s time. You also don’t want to ask someone too early to write you a letter since they are likely to forget about it.

Typically, a good time to request a letter is two to three months in advance. This gives the writer ample time to consider what they want to write and to complete the letter at their own pace.

How to Ask for a Recommendation Letter

How do you go about asking someone for a letter of recommendation?  It is an honor to write a letter of recommendation for someone you respect. The individual you ask will likely be eager to offer their support. You may want to vary your method of requesting the letter based on the individual.

Here are some examples of how to structure your request for a letter of recommendation.

How to Ask for a Letter of Recommendation in Person

Allow yourself time to think about the following points:

  • A letter of recommendation communicates to your manager that you are serious about a career with the company. You are helping them identify you as a high-potential candidate who could be a future leader for the organization.
  • Why is this individual the ideal candidate to write my letter of recommendation? Choose wisely and thoughtfully.
  • What are my career goals? Make sure the content of the letter is in line with your goals.
  • What would I like the letter to contain? Some possibilities are academic goals, a character sketch, and an overview of your work ethic.

You need to provide as much information as possible to the individuals writing your letters so they are fully aware of your expectations. If you choose to request a letter of recommendation in person, be sure to do so during office hours or at a time set aside specifically for discussing your application package and why you need their support. This way, the candidate’s decision to participate and any necessary discussion are not rushed or pressured.

How to Ask for a Letter of Recommendation Via Email

When writing an email asking for a letter of recommendation, it is necessary to be professional. It is best to reserve this method for individuals who are particularly busy, are unavailable through other means, or individuals for whom this is their preferred method of communication.

It’s important to make it clear that your request is based on the requirements from the university and the professional or academic relationship you share with this individual. Try to avoid language that may imply that this is an inquiry for your personal benefit. You may be anxious that requesting help is selfish in some way. Don’t worry! An experienced manager has most likely written letters of recommendation in the past and would welcome the opportunity to do so for you. With appropriate, accurate language, the individual will understand your need for support and be happy to help you.

It is wise to attach any publications, significant works, or academic accomplishments you would like to be noted in the letter. Attaching essays you’ve written, transcripts, and other documents or projects integral to your field may be of great assistance to the letter writer.

What to Provide When Asking for a Letter of Recommendation

After your candidate has agreed to lend you support, you will need to provide them with all the information they will need.

The most important information to give someone writing a recommendation letter for you is:

  • What you want them to cover in the letter: professional and academic work ethic, professional and academic performance, your ability to achieve goals and follow directions
  • The name of the university and specific program that you are applying for
  • The industry/discipline you wish to work/study in
  • The due date for the application
  • Where to mail or email the letter

To ensure that the process is smooth and that you obtain a letter that will enhance your application, you need to be clear about your expectations and desires. Be sure to mention any  specific goals you achieved that you would like the letter writer to include, and remember to be clear about any formatting requirements.

Tips for Getting a Great Letter of Recommendation

Requesting a letter of recommendation without proper etiquette can hamper your relationship with the letter writer and even damage your reputation with other colleagues or faculty members.

Do Don’t
Set aside a few minutes to explain everything you need for the letter of recommendation. Rush anyone to make a decision about whether they can write you a letter of recommendation.
Thank them in advance for their support. Give vague information regarding where and when to submit the letter.
Give as much information as possible regarding the letter requirements and formatting. Offer to write the letter yourself and obtain their signature.
Request the letter early, about one to three months in advance. Request a letter less than three weeks before the deadline.
Tell them why you need their support. Make anyone feel as if they are dispensable.

How to Follow Up on a Letter of Recommendation Request

Since the best time to request a letter of recommendation is about one to three months before the deadline, you should give your letter writers at least a full month before following up with them. When following up, keep it straightforward and simply remind them you are checking in to see if they need any further information. Politely offering assistance instead of demanding a complete letter will benefit your relationship and alleviate stresses involved.

You now have a practical understanding of how to get letters of recommendation. You may also find it useful to view these sample templates as you seek letters of recommendation, apply to your MBA program, and prepare for growth in your career with an MBA degree.

If you have more questions about MBA program requirements, request information from Augsburg University today.

Complete Guide to Getting an MBA in Data Analytics

Big data is ubiquitous in the business world. Big data refers to enormous sets of data that can be analyzed for insights, visuals, patterns, and trends. In business, studying big data is the precursor to forming sound business decisions. Due to the prevalence of big data in business, an MBA in data analytics is an extremely useful concentration for today’s business climate. Data analytics professionals analyze data to arrive at solid business solutions and projections.

MBA students in classroomIf you’ve chosen data analytics for your MBA concentration, you’ll find that there are a multitude of career opportunities available to you. Data analytics is a great field to enter as a recent graduate diving into the data analytics sphere or as a seasoned professional looking to fine-tune your skills to advance your career. Once the program has been completed, students will be greeted with a favorable job market. Job demand has grown over the years and is projected to continue growing at a faster than average pace over the next decade.

What does an MBA in data analytics program entail? In this guide, we’ll cover the different types of degrees, the admissions process, and the type of job and salary that you can expect after graduation.

What is an MBA Concentration in Data Analytics?

What are MBA analytics and decision science? An MBA in this concentration prepares students to use analysis of large data sets to improve the efficiency of a business.

How can an MBA in data analytics help your career? An MBA concentration in data analytics has become valuable in business. Since the rise of big data, job demand within this specialty has increased significantly. Through case studies and projects, you’ll amass valuable information regarding the analysis of data. You will also acquire important skills such as decision-making and query languages. An MBA program also provides an opportunity for networking with other professionals from diverse backgrounds.

Which is the best MBA for data analytics? When choosing to pursue a degree in this concentration, students will have the option for an MBA or an executive MBA data analytics program. An executive MBA in data analytics may be a good option for those with managerial work experience, typically at an executive level. Often, employers may cover or reimburse the cost of an executive MBA.

Master’s in Data Analytics vs. MBA in Data Analytics

When choosing to pursue a degree in data analytics, you will need to decide whether an MBA in data analytics or a master’s in data analytics is right for you. A master’s in data analytics is more hands-on, with specific courses geared toward a career in data analytics. This path may be appropriate for someone planning to pursue a job as a data scientist or other analytics-heavy occupation.

On the other hand, an MBA in data analytics provides a broader course of study that prepares students for a career in many different areas of a business. While typically not as hands-on as a master’s program, MBA students who complete the program will find there are more job opportunities available to them. In addition to data science positions, they often find jobs in areas such as accounting, marketing, or strategy.

Core Curriculum for an MBA in Data Analytics

Students pursuing an MBA with a data analytics focus will follow a structured syllabus designed to prepare them for the business world. The MBA program at Augsburg University requires 42 credits to complete. While many students work on their MBA full time, some opt to enroll in the program part time.

Augsburg Syllabus for an MBA in Data Analytics

The Augsburg MBA program requires the completion of 14 courses. The MBA data analytics syllabus includes 12 core courses covering a variety of business topics such as leadership, strategy, finance, and marketing. Two electives focused on the data analytics concentration must also be taken. Data analytics MBA courses include data programming and predictive analytics. Students will also become familiar with the software analytics program, Tableau. Tableau software helps users interpret big data through an analytics platform that aids in key management decisions. A significant number of companies use Tableau for the accounting, finance, marketing, and management departments.

MBA in Data Analytics Requirements

When researching institutions, online MBA programs in data analytics are often considered. Online programs can provide more flexibility, and they’re becoming increasingly accepted by employers. However, there are many benefits to in-person classes that one would miss out on in online degree programs, such as networking opportunities and face-to-face interactions. The best analytics MBA programs are often in bricks-and-mortar institutions.

When preparing to pursue an MBA analytics concentration, the first step is the admissions process. It’s important that you become familiar with the application requirements and guidelines to ensure that your application is complete. Common application requirements are:

  • GMAT, GRE, or MBA math modules
  • Work experience
  • Letters of recommendation
  • Essay questions
  • Interview

GMAT or GRE

Students must take either the GMAT or GRE to be accepted into an MBA program. The GRE is more widely used across graduate programs and focuses on reasoning skills. The GMAT is specifically used by business schools and has a heavier focus on analytics. Though both are accepted, the GMAT is most often taken when applying to colleges offering an MBA in data analytics. Students are not required to take the GMAT or GRE. They may be required to complete five MBA math modules online at their own pace.

Work Experience

Relevant work experience is required by most MBA programs. Augsburg prefers that students have a minimum of two years of experience. Relevant work experience includes jobs that focus on analytics such as finance or marketing. Internships don’t always count as work experience due to the short duration and the fact that they’re typically unpaid.

Letters of Recommendation

Augsburg requires two letters of recommendation from professional work references. The letters of recommendation should highlight your accomplishments and work experience. They should also contain testaments to your skill and character.

Essay Questions

Essay questions are an important part of the application process. Your responses to these questions are a great way for the admissions committee to learn more about you and what you can bring to the program. Augsburg requires responses to two essay questions. There are often formatting and word requirements. Make sure you pay careful attention to these requirements when crafting your responses.

Admissions Interview

After your application has been reviewed, the final step is an interview with the admissions committee. While the interview may seem daunting, advance preparation can help you feel confident. Here are a few common questions to prepare for:

  • Why are you interested in pursuing an MBA in data analytics?
  • Why are you interested in this program?
  • Tell us about a challenging situation you encountered and describe the outcome.

Once the committee finishes asking you interview questions, you will have the chance to ask any questions you may have regarding the school or program. It’s important to be equipped with a handful of questions to ask, which shows you’re engaged and interested. A few questions to ask are:

  • What groups are recommended for students in this concentration to join?
  • Do you have any advice for incoming students?
  • Does the data analytics concentration have any limitations?

After an MBA in Data Analytics, What Can I Do Next?

What can you expect after completing the MBA data analytics program? Should you pursue an internship to put your new skills to use? Are there additional certifications you can take to enhance your new degree?

Pursue an MBA Internship in Data Analytics

Students and recent graduates often take on internships for opportunities to apply their skills and knowledge from the MBA program in real life. Many corporations have internship slots available in various departments, such as marketing or finance. Internships afford students the opportunity to work with big data while gaining valuable experience that looks great on a résumé.

Certification Courses After an MBA in Data Analytics

After completing the MBA program, graduates often consider taking certification courses to increase their knowledge. At Augsburg, a certificate of leadership studies is often considered. This leadership program is an attractive option for those pursuing management or executive positions.

MBA in Data Analytics Careers

Is a data analytics degree worth it? Graduates starting their career in data analytics after MBA completion will find job opportunities in many different domains. The job outlook for careers in this field is positive and demand is growing rapidly. An MBA in data analytics is attractive to many employers, especially as big data continues to be a valuable tool in today’s business world. Below are just a few of the opportunities awaiting graduates in small and large businesses.

Data Scientist

Using math skills and various querying and coding languages, data scientists discover and analyze business trends and issues. Those with a data analyst MBA have many of the required skills that they can apply in this role. According to the Bureau of Labor Statistics, the demand for data scientists is growing faster than average.

Management Analyst

Management analysts have the challenging task of finding and proposing ways to improve the processes of a business. By studying historical data, these analysts can make informed decisions and projections to improve the company’s overall efficiency. New graduates can expect a positive job market for this type of role as it is in growing demand.

Operations Research Analyst

Advanced math and analysis are used by operations research analysts. Through their insights and data visualization tools, they create and recommend solutions to complex problems in the business. The job demand is projected by the BLS to grow by 26% between 2018 and 2028.

MBA in Data Analytics Salary

The growing demand for data analytics professionals has made the job market favorable. The master’s degree in analytics salary will vary. Salary is dependent on the type of role, company, amount of work experience, and job location. When just starting out, a data analytics MBA salary is typically at least $80,000 annually, and some jobs may pay upwards of $100,000.

Resources and Books

There are many resources available for students entering the MBA program with a data analytics concentration. Students may want to read up on some query languages such as Python, R, and SQL to get a head start. Textbooks and other resources are available at the college bookstore.

Ready to apply?

Now that you are familiar with the difference between an MBA in Data Analytics vs Data Analytics master’s programs, it’s time to take the next step. We’ve covered many pieces of the admissions process and what you can expect when entering the program and upon graduation. Are you ready to submit your application? Get in touch with Augsburg admissions today!

Complete Guide to Getting an MBA in Entrepreneurship

Do you have an undergraduate degree and have a desire to pursue a career in business, perhaps by starting your own company or being involved in the start-up process? Or, maybe you already have an established business career but would like to earn a higher salary or climb further up the corporate ladder? You may be wondering how you can shine in a competitive industry full of eager entrepreneurs. MBA students in classroom

One of the best ways to stand out and prepare for a successful future is to acquire an MBA in entrepreneurship from Augsburg University, one of the three top MBA programs for entrepreneurship in the Twin Cities.

The Augsburg MBA program is designed to equip students for the fast-paced and ever-evolving business world that we live in today. This program creates critically and ethically minded citizens who are eager to tackle the challenges inherent in the global business environment.

What is an MBA Concentration in Entrepreneurship?

In order to discover if a concentration in entrepreneurship is suitable for you, you should familiarize yourself with the program details and explore how graduates stand to gain from it. This particular concentration targets risk assessment, business ethics, social responsibility, and new product and service development. It will also enable you to transform your theoretical business ideas into realistic business proposals.

One of the most valuable aspects of this program is the real-world experience we offer our students to ensure that their educational frame of reference is the real world and not confined to unrealistic textbook examples. Beyond the stimulating coursework, this program offers a huge boost for your career. Completing this program makes you more marketable than someone with a business degree. Your larger knowledge base will allow you to begin your career on a higher level and earn a higher salary.

Master’s in Entrepreneurship vs. MBA in Entrepreneurship

What degree does an entrepreneur need? A master’s degree in entrepreneurship is often confused with a Master of Business Administration in entrepreneurship. The more fitting degree choice largely depends on your personal career trajectory. At an elementary level both degrees are intended to provide advanced learning opportunities for ambitious and driven entrepreneurs, yet there are some significant but subtle differences between the two.

An entrepreneurship master’s degree is a science degree. As the Master’s in Business Degree Guide states, “The curriculum teaches the fundamentals of a specific science while applying business applications related to the science.” A master’s in entrepreneurship teaches students the intricacies involved in applying scientific methods to starting and running a business.

In contrast, an MBA in entrepreneurship is a well-rounded degree with an emphasis on leadership, data analytics, finance, and accounting. It balances a creative approach to business that stresses innovation and resourcefulness. MBA in entrepreneurship subjects include business ethics and social responsibility with a healthy dose of the quantitative skills needed to run a successful business.

Entrepreneurship Master’s Degree: Pros and Cons

The benefits of obtaining a master’s degree in entrepreneurship are mostly related to the acquisition of a PhD. Due to the more scientific nature of the master’s curriculum, someone with this degree is better suited to continue on the research path. On the other hand, a master’s degree doesn’t have as strong of an experiential learning component and isn’t as well-rounded or as comprehensive as an MBA program.

MBA in Entrepreneurship: Pros and Cons

The benefits of an MBA in entrepreneurship are plentiful. Those who have established business careers and choose to obtain an MBA in entrepreneurship set themselves up to earn a higher salary and be excellent leaders. The education involved in earning this degree is more well-rounded, involving a liberal arts education.

Core Curriculum for an MBA in Entrepreneurship 

The core curriculum for an MBA in entrepreneurship is comprised of a year-round accelerated program that is completed in 26 months, with classes in the evening. We have structured it this way so that both students and working professionals can obtain an entrepreneurship MBA without having to compromise their current careers or internships.

This is accomplished using a cohort model in which students follow a predetermined schedule with classes meeting only night per week.  In this model, students learn in a continually collaborative environment and remain in the same group for the entire program. The actual curriculum requires 12 core courses and two entrepreneur concentration courses.

Augsburg’s MBA in Entrepreneurship Syllabus

To get an idea of what the actual classes and schedule look like, here is a sample MBA entrepreneurship syllabus:

  • Semester 1:
    • MBA 592 – Leadership: Ethics, Vision, Transformation
    • MBA 545 – Organizational Behavior
  • Semester 2:
    • MBA 540 – Business and Professional Ethics
    • MBA 570 – Quantitative Decision-Making for Managers
  • Semester 3:
    • MBA 571 – Data Analytics for Managers
    • MBA 520 – Accounting for Business Managers
  • Semester 4:
    • MBA 510 – Applied Managerial Economics
    • MBA 530 – Managerial Finance
  • Semester 5:
    • MBA 550 – Marketing Management
    • MBA 595 – Strategic Management
  • Semester 6:
    • MBA 565 – Managing in a Global Environment
    • MBA 580 – Management Consulting Project
    • Entrepreneurship Course 1
  • Semester 7:
    • MBA 580 – Management Consulting Project (began in Semester 6)
    • Entrepreneurship Course 2

This entrepreneurship program requires students to complete an MBA research topic in entrepreneurship to earn a degree. The concentration courses where this will be worked on are:

  • MBA 596 – Managing Innovation
  • MBA 583 – Entrepreneurship: Execution, Planning, and Strategy

MBA Entrepreneurship Requirements

As an award-winning MBA program, Augsburg University requires certain materials from program applicants to ensure specific standards are met. Here is a brief overview of the requirements:

  • Fill out an application. You will need to include transcripts from the college or university where you earned your bachelor’s degree, two letters of recommendation, and a current resume.
  • The GRE or GMAT are optional, but you may be required to complete online MBA math modules.
  • Undertake two years of professional experience prior to application.
  • Complete two essay questions.
  • If your application is approved, you will be invited to campus for an interview.

Test Requirements

Almost all entrepreneurship MBA programs require that students take either the GRE or GMAT. These tests are similar but each is more suited to different programs. However, at Augsburg, if you don’t take one of these tests, we simply require that you complete MBA math modules in its place.

Work Experience

The best MBA programs for entrepreneurship consider academic performance an important factor in the admissions process, but it certainly isn’t the only factor. Admission is also based on your professional experience. At Augsburg, we require two years of professional experience that can be backed up with good references.

Letters of Recommendation

Two letters of recommendation are required. It is expected that you will have professional relationships with these individuals. It’s critical to use your strongest and closest professional relationships. Include their names and email addresses on the application so they can receive the email inviting them to submit their recommendations online.

Admissions Interview

If your application is approved, you will be invited to campus for an on-site interview so the admissions team can determine whether you are an appropriate candidate for the program. This interview is an important step in the admissions process. To prepare adequately, review the following questions and prepare your responses. This will bolster your confidence and enable you to present a favorable impression.

  • Why do you want to pursue an MBA in entrepreneurship?
  • What qualifications or experiences do you have that will contribute to the program?
  • Tell us about a challenging situation, how you resolved it, and what you learned.

Aside from giving thoughtful responses to the questions posed to you, asking questions of your own is important to demonstrate your interest and analytical skills. The admissions team wants to see that you have done your research and you are committed to your chosen career path. Some insightful questions you can ask include:

  • Is there an opportunity to complete a study abroad program?
  • What groups or organizations can students in this program access or join?
  • How does this program use business simulations and experiential learning?

To give you an idea of what interviewers are looking for in your answers and questions, explore more information regarding the interview process.

After an MBA Entrepreneurship, What Can I Do Next?

What is an MBA in innovation and entrepreneurship going to do for you in the future? What does an entrepreneur do? These are important questions to ask yourself before diving headfirst into this program. The value of an MBA in entrepreneurship cannot be understated. This is bolstered by the fact that an MBA is one of the most common graduate degrees earned.

As long as your interests lie in furthering your business career, acquiring this degree accelerates your career. It opens up more opportunities in your current career and makes you more marketable, giving you a leg up on your competition.

Pursue an MBA Internship in Entrepreneurship

Top entrepreneurship MBA programs like Augsburg’s make students excellent candidates for internships. Unlike many fields, entrepreneur-related internships with big businesses pay well and offer exciting networking opportunities while simultaneously providing you with valuable experience. MBA students often choose to do this during the summer, when some have a break and the widest variety of internships are available.

Certification Courses After an MBA in Entrepreneurship

After earning an MBA in entrepreneurship, there is more that you can do to make yourself even more marketable. Graduates should take these courses if they want to delve deeper into a specialized area. Here are a couple of certification examples:

  • Project Management Professionalism: This is recommended for those going into project management. It shows elevated commitment to the field.
  • Certification in Business Analytics: This is recommended for those seeking to pursue a career in data analytics, operations, or supply chain.
  • Certification in Leadership: This is recommended for aspiring leaders in the nonprofit market.

MBA in Entrepreneurship Careers

Jobs you can get with an entrepreneurship degree vary widely. An MBA in entrepreneurship is incredibly attractive to businesses. Profitable companies are generally starting new endeavors and looking for someone with an eye for innovation and entrepreneurial talent. Even if your entrepreneurial spirit takes a back seat in your vision of your career path, there are still a number of exciting job opportunities available after acquiring an MBA in entrepreneurship.

Job Opportunities After an MBA in Entrepreneurship

Senior Product Manager

This is one of the job opportunities for someone whose entrepreneurial spirit isn’t a key player in their career goals. This job requires excellent communication skills and an ability to take feedback from customers, partners, and in-house teams and incorporate it into product strategy.

Average salary: $135,000

Research and Development Manager

Leadership, management, communication, and presentation skills are all integral to this position. The ability to budget and an affinity for ingenuity and creativity are also important. A research and development manager is usually responsible for overseeing the entire development process of a new product.

Average salary: $139,000

Not-for-Profit Fundraiser 

Organizational abilities and superb communication skills are essential for this type of work. Organizing activities to raise funds and creating and maintaining relationships are vital in the not-for-profit world. If you are full of entrepreneurial spirit and have a desire to assist others, this is an excellent path for you.

Average salary: $73,000

MBA in Entrepreneurship Salary

Simply having this degree in your pocket generally means that you’ll be offered a higher salary than someone with an undergraduate degree. It shows that you know how to work hard and should be compensated for the time, money, and effort you invested to further your career. The average salary for an MBA in entrepreneurship is $106,000, which means you can likely repay your student loans fairly quickly.

Resources and Books

There are some remaining tidbits of advice for those considering this concentration for an MBA. If you’re still completing your undergrad, the best degrees for entrepreneurs are business, communications, finance, and marketing. For some extracurricular reading to help you understand the business world, consider this list of recommendations from top business professionals and academics. Additionally, Forbes published a list of five lessons for those considering this path.

Ready to Apply?

Augsburg offers a top MBA for entrepreneurship. Individuals who are globally minded, innovative, and want to further their career would thrive in this program and reap its benefits for the rest of their lives. If your interest is piqued, reach out to admissions for more information or get started and apply today!

Complete Guide to Getting an MBA in Finance

If you have an affinity for numbers and an appreciation for money management, a Master of Business Administration degree in finance is something you may want to seriously contemplate. There is a growing demand in the job market for graduates with an MBA in finance, making it an optimal concentration to consider.

MBA students in classroomThere are diverse paths you can pursue upon obtaining an MBA in finance; you are not constrained to one career trajectory. You can opt to work for a small firm or a large corporation, to deal with personal investments, or even to take on large projects analyzing and forecasting financial trends. In this guide, we’ll discuss everything from admissions to what can be expected post-graduation.

What is an MBA Concentration in Finance?

An MBA with a specialization in finance will give you a strong education in finance while simultaneously honing your business skills. This makes it a fantastic option for professionals who have some work experience under their belts and would like to further their careers.

A finance MBA can help professionals expedite their careers by providing a foundation in areas such as accounting, statistics, and communications. Often, obtaining an MBA in finance can launch your career by accelerating the climb up the corporate ladder and landing you a managerial or executive position.

Professionals with a finance MBA will find that the job market is more favorable and will typically enjoy a higher employment rate. An MBA in finance is also a wise choice for students who are planning to start their own businesses. If you have an entrepreneurial spirit, an MBA in finance can help make your dream a reality.

Masters in Finance vs. MBA in Finance

There are many factors to evaluate before enrolling in a post-graduate program. You may face some quandaries such as: Should I enroll full-time or part-time? Is there a difference between an MBA and a master’s in finance? Will a master’s in finance suit my needs, or is an MBA the better option for me?

There are differences between an MBA in finance and a master’s in finance. The primary difference between the two is that a master’s in finance takes several years to complete, while an MBA with a  finance concentration takes a minimum of 26 months. Aside from the length of schooling, another consideration is the cost differential between the two options. Two years of tuition certainly costs less than three or more!

In addition to time and cost, it’s important to assess how you will be using the degree. While both types of degrees will benefit a career, a master’s in finance is primarily geared toward those looking to secure a position in a specific field, typically accounting or management.

Those with an MBA and a concentration in finance have more flexibility regarding their career paths and can pursue careers in economics, management, statistics, and communications. An MBA in finance also offers the added flexibility of part-time programs, while a master of finance degree can be a full-time, one-year commitment.

So, is an MBA in finance worth it? 

Though it takes a minimum of three years instead of just a one-year commitment, it may be worth the extra time and money for the increased career flexibility it yields.

Core Curriculum for an MBA in Finance

Students enrolled in the Master of Business of Administration program will be provided with a curriculum to prepare them for the challenging and often competitive business world. The MBA finance course structure can be completed in 26 months with the exception of those enrolled as part-time students.

Augsburg Syllabus for an MBA in Finance

The syllabus for an MBA in finance includes 12 required courses. In addition to the core requirements, MBA students must also take two electives geared toward a finance concentration. Electives related to finance include investment theory, portfolio management, and international finance.

MBA in Finance Requirements

After choosing to pursue an MBA with a specialization in finance, what comes next? The admissions process may seem daunting, especially when it is time to interview with the admissions committee. With adequate research and preparation, your interaction with admissions can go smoothly.

When submitting an application for an MBA program in finance, it’s important to research admission requirements to understand what is necessary for eligibility for MBA finance programs. Requirements typically include:

  • GMAT or GRE
  • Work experience
  • Letters of recommendation
  • Responses to essay questions
  • Admissions interview

GMAT or GRE

Sometimes the GMAT or GRE is required to be accepted into an MBA program (Augsburg University does not require the GMAT or GRE but does require two years of work experience). Both are accepted; however, it’s important to consider which one is more beneficial. The GRE focuses on reasoning and analytical skills. It is more broadly accepted across graduate schools, including business schools. The GMAT has more of a focus on data analysis and is specific to business schools.

Work Experience

Work experience is preferred when applying to an MBA program. At Augsburg, at least two years of experience is desired. During the admissions process, both academic and professional experiences are taken into account. Applicants who have had strong and positive performances in both areas are likely to be admitted.

Letters of Recommendation

Another application requirement is a letter of recommendation. Admissions at Augsburg requires two letters of recommendation from professional work references. Once the names and email addresses of your references have been entered on your application, they will receive an email address where they can submit their recommendations.

Essay Questions

There are typically two essay questions required by Augsburg during the application process. The responses to the questions are used to learn more about each applicant. This is an excellent place for you to detail the reasons why you wish to pursue an MBA in finance. When writing responses to the essay questions, pay particular attention to word count and formatting requirements.

Admissions Interview

If your application is approved, the next step is to attend an on-site interview with the MBA director or admissions committee. There are several common interview questions for MBA finance students. There may also be some finance-related interview questions for MBA students. Here are some common questions to prepare for:

  • Describe a challenging situation and how you overcame it.
  • Why are you interested in this MBA program?
  • If admitted, what skills or experiences will you bring to the program?

In addition to answering questions, be prepared to ask some questions of your own. Asking smart questions shows the committee that you’re invested in the program. Some important questions to ask include:

  • Is there an opportunity to study abroad in the MBA Program?
  • Are there networking opportunities to meet with MBA graduates?
  • Can you tell me more about the concentrations offered at this university?

After an MBA in Finance, What Can I Do Next?

You may be wondering: What can I do with an MBA in finance? There are numerous options that a recent graduate can pursue. When determining what is right for you, it’s important to consider which MBA finance careers interest you.

Pursue an MBA Internship in Finance

One option recent MBA graduates may want to consider is an internship in MBA finance. An internship is a great way to develop skills and gain professional work experience. Internships provide an ideal way for you to get your feet wet in the wide wild world of finance. Some MBA students pursue internships while still in the program; others prefer to wait until after completion of their degree.

Interning at an investment firm is a wonderful way to gain valuable skills and knowledge about finance. You will have the opportunity to learn more about the market as you manage stocks for clients. For those interested in global business or investments, many large corporations offer internships within various departments. It’s important to pursue these internships early as programs and positions fill up quickly.

Certification Courses After an MBA in Finance

Students may also take certification courses after MBA finance completion. These courses can be used to sharpen specific skills or show employers that you are knowledgeable in a specific area. A few beneficial certifications or short-term courses after MBA finance completion include:

MBA in Finance Careers

What jobs can I get with an MBA in finance? The career path after MBA finance completion will vary. Careers aren’t restricted to MBA finance jobs in banks. Graduates may work in investment firms, small businesses, corporations, or even opt to be self-employed.

Financial Analyst

A financial analyst is a common starting point for a recent MBA graduate. Financial analysts assess benefits, risks, and financial trends to provide informed advice to clients to guide their investment decisions. The demand for a financial analyst is growing faster than average. Analysts can expect an average salary of $85,660 per year.

Financial Manager

Financial managers often oversee a team of analysts. They review and analyze trends and investments in order to make long-term financial projections for a business. According to the Bureau of Labor Statistics, financial managers earn an average annual salary of $127,990. The job market is favorable for this role, with the job demand expected to grow much faster than average.

Personal Financial Advisors

A personal financial advisor works with individuals on investments, mortgages, and other financial decisions. They advise their clients regarding these decisions or manage their finances for them by guiding their financial choices. With increasing demand, financial advisors will find an opportunistic job market and can expect an average annual salary of $88,890.

MBA in Finance Salary

Overall, there is an increasing demand for financial jobs. Graduates entering the job market can expect an average salary of more than $80,000 per year. The MBA finance pay scale may fluctuate due to several factors. Job location is one factor that affects salary.

Finance jobs in metropolitan areas will typically pay more than in rural areas. Another element that impacts salary is the type of establishment you work for. Large corporations will often offer higher wages than small firms. Whether it’s a contributor or managerial role, the type of job you have—as well as the degree of work experience you have—will also influence your salary.

Resources and Books

There are many materials and MBA finance textbooks that are handy resources when considering a concentration in finance. An important resource is the course catalog, where you can find a description of each of the required courses. You’ll also want to explore the college bookstore to find required finance MBA books as well as other suggested texts.

Ready to Begin Your Career in Finance?

In this guide, we’ve covered a plethora of information. We’ve touched on the difference between an MBA and a master’s in finance, the admissions process, and what to expect post-graduation. Now that you know why an MBA in finance is valuable, are you ready to get started? Get in touch with admissions today!

How Much Experience Is Required for an MBA?

Deciding to pursue a Master of Business Administration degree is a big step! Once you’ve made this decision, keep in mind that it is better to complete your MBA after you have acquired relevant experience. How many years of experience you need before that MBA varies, though, so here are a few tips to guide you in figuring out what type and how much work experience you need for an MBA.

Do You Need Work Experience to Get an MBA?

You will need at least two years of work experience for an MBA program. Most MBA programs typically require between two to four years of work experience in order to apply (the average student enters with about five years of professional experience). Some of the top business schools can even require up to seven years.

Why Do MBA Programs Require Work Experience?

This type of on-the-job experience is important because students with relevant professional experience are typically better prepared for the curriculum, more confident, and more proactive in their academic experience.

Occasionally,  applicants in the accelerated MBA program at Augsburg University may petition to waive the MBA 520 accounting course if they have passed the Certified Public Accountants (CPA) and Certified Management Accountants (CMA). Having prior work experience also helps MBA applicants develop clear expectations on what they need out of the program.

Especially in a program such as ours, which takes only 26 months, there isn’t a lot of time for students to waste in exploring their aspirations like they might’ve during undergraduate studies. Incoming MBA students are focused and enjoy the cohort model because of the interaction between students based on their work experience. Being equipped with relevant experience will also enhance the program experience, providing the student with the appropriate knowledge to actively participate in course discussions, enabling real-world applications, and guiding smarter choices in electives and other program requirements.

How Much Work Experience Do You Need for an MBA?

Although there are specialized programs that do not require it, it is better to have work experience for MBA admissions. How many years of experience do you need before an MBA? The average expectation is about two to three years, but there are people who have been accepted to MBA programs with little work experience. The specific amount of time varies by school and program.

  • MBA with two years of work experience: Being admitted to an MBA with two years of experience represents the minimum work experience for many MBA programs. There are some specialized programs for newly graduated students with at least two years of work experience under their belt. These will be some of the most basic (i.e., not highly specialized) MBA degrees.
  • MBA with three years of work experience: Applying for an MBA after three years of experience can open up more opportunities for specialized coursework like finance, marketing, and entrepreneurship.
  • MBA with five years of work experience: Pursuing an MBA after five years of experience allows for a much stronger chance of being admitted to a specialized MBA program. If your professional experience is in managerial work, then you become eligible for executive MBA (EMBA) programs, which can offer greater flexibility in workload and allow for full-time work during the program.
  • MBA with eight years of work experience: This may seem like a lot, but an MBA after eight years of experience is ideal for the highest-caliber business schools, specifically for full-time programs. Many people worry that eight to 10 years is too much to be an appealing applicant to MBA programs, but do not fret—this is exceptional business school work experience! You will have greater access to highly specialized, accelerated programs that can be finished in as little as one year.

How Much Work Experience Is Required for an Executive MBA?

Executive MBA work experience requirements will typically be five or more years—but not just any kind of work experience. Having a professional role in managerial work is ideal for admission into an MBA program. Although an EMBA program is not dramatically different from an MBA, an EMBA student will likely be able to maintain a full-time job during the program and may even be able to work at a faster pace than they would in a typical MBA program. Are you interested in this? Learn more about the differences between standard MBAs and executive MBA programs.

What Kind of Work Experience Is Required for an MBA?

The quality of your work experience is just as important as the quantity, if not more so. The best work experience for your MBA depends on your particular career interests and aspirations. Does part time count as work experience for an MBA? It’s possible; however, experience as an accountant, for example, will carry a heavier weight in the admission process than a part time job like cashiering at a mom-and-pop business.

Does an Internship Count As Work Experience for an MBA?

Important things to keep in mind about potentially using your internship as your work experience when applying for an MBA are that, generally, many internships are unpaid positions and so may not qualify for formal, professional experience. (You can expect the same when planning to apply for an MBA with volunteer experience.) They are also typically short-lived, so you will have to rack up more than one internship experience to meet the average minimum work experience for MBA requirements.

Assuming that your position was in a reputable institution, or at least one that is directly relevant to your career goals, a part-time position does count as work experience. However, using a part-time role as your MBA work experience means that you may need more years under your belt to match that of a full-time position.

The bottom line is: Don’t get caught up in an extended internship commitment before you start wondering, Should I get work experience before applying to an MBA? Get started and complete it as early as you can. The sooner, the better.

Best Work Experience for an MBA

The best work experience for your MBA is that which is directly related to your projected curriculum. If you are aiming for an MBA program in finance, you may want to have experience as an accountant, finance manager, or analyst. Additionally, you want to make sure that your work experience is in a reputable institution so that you have strong references and a quality start to your professional reputation.

A few examples of some of the most promising fields to get involved in for your MBA education are finance, marketing, and data analytics.

Before you begin the process of applying to an MBA program, make sure to organize your business and academic goals to compose the best application you can. Do as much research in advance as you can to prepare your professional route and then narrow down what type of work experience will be best for the program you choose.

Lastly, remember that you can begin planning to apply to an MBA program after two years of work experience, but your chances of acceptance will increase with more work experience.

Explore Augsburg University’s MBA program or contact mbainfo@augsburg.edu to talk with MBA experts today.