Financial Definition of MBA
What It Is
A Master of Business Administration (MBA) is a graduate degree in business.
How It Works
An MBA typically involves the study of accounting, financial markets and instruments, corporate strategy, negotiation, business ethics, statistical analysis, marketing and management. Most full-time MBA programs take two years, though many "executive MBA" programs can take as little as nine months. MBA programs are also available online.
Some business schools are very difficult to get into, and the starting salaries for graduates from those programs are typically higher than the starting salaries for graduates from other business schools. Many schools allow students to specialize in certain areas, such as securities analysis, accounting, sports marketing, information management, tourism, health care, marketing, etc.
Why It Matters
Obtaining an MBA can propel a career significantly and make a person more employable, depending on when and how it is applied and the industry in which a person works. Traditionally, an MBA is most useful in management or financial positions. It is important to note, however, that most of the most successful people in the business world do not have MBAs, and there is no substitute for hard work or a willingness to take risks.
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