Find a Job

The MBA is well established, having been introduced by Harvard long ago in 1908. It has certainly changed with the times. It now offers a number of specializations, and one can find the program being taught both at night and online.

These days, many people's under grad and post grad degrees are separated by some work experience. So, now, a number of students are adults working full time. In response, the program in now also offered in a variety of flex plans, including online classes, night classes and accelerated programs.

Core classes (business operations, strategy, accounting, marketing, negotiation and capital markets) happen in the first half of the program. Then, in the second part, the student broadens their knowledge of a specialty area. There are a good number of specialties including subjects for example global business, advertising, economics and accounting.

It can sometimes be tough to track the difference between a specialized MBA and other Master's level business degrees. For example, what's the difference between a MBA with a Healthcare Specialization and a Masters of Healthcare Administration? Two main factors differentiate them. One, the MHA focuses much more on healthcare policy compared to the broader business focus of the MBA. Two, the MBA is more flexible than the MHA. The MHA provides no added value outside of healthcare. A broad based business degree, like the MBA, can offer value in virtually any venture. That versatility is valuable in a changing workplace and economy.

That Harvard MBA can run you up to $200,000 today, however the average program runs $60,000. Beyond just money, there is also a vast amount of time and energy invested. Some no-name online schools offer the program for as little as $7,000. Other online schools get away with charging a premium. They have a firm grasp of the market value of the convenience of online classes.

Getting a MBA is rewarding, both in the sense of accomplishment as well as monetarily. For example, a professional with a MBA can make significantly more than a professional of the same experience who only has a Bachelor of Business Administration (BBA). For example, a BBA with 5-9 years of experience commands a median salary of $51,376 compared to a MBA with 5-9 years of experience who earns a median salary of $68,989.

Ultimately, there are a number of ways to go with an advanced business degree, both in the choice of degree and the speed and style of achieving it. Either way, it's a lot of money and time. However, in the final analysis, the MBA provides a broad scope of applications that the more sector specific degrees do not. Having more options is valuable by itself. So, unless a person can be absolutely certain that they will never get tired of a career, the MBA is probably the better path over a something like an MHA.