University Of Maryland Mba Ranking

Last Updated on January 19, 2023

To say the article below brings you the best information on  university of maryland mba acceptance rate & university of maryland mba requirements is an understatement as it brings you much more. Read on to discover the latest.

You will also find related posts on robert h smith school of business ranking, university of maryland undergraduate business school & university of maryland undergraduate business school ranking on infolearners.

About University Of Maryland Mba Acceptance Rate

The Robert H. Smith School of Business at University of Maryland–College Park (Smith) offers these departments and concentrations: accounting, consulting, e-commerce, entrepreneurship, finance, general management, international business, leadership, marketing, management information systems, production/operations management, organizational behavior, portfolio management, public policy, supply chain management/logistics, quantitative analysis/statistics and operations research, and technology. Its tuition is full-time: $92,232 total program (in-state); full-time: $113,292 total program (out-of-state); part-time: $90,828 total program (in-state); part-time: $90,828 total program (out-of-state); executive: $129,900 total program (in-state); executive: $129,900 total program (out-of-state); specialty master’s: $1,582 per credit (in-state); and specialty master’s: $2,015 per credit (out-of-state). At graduation, 73.50 percent of graduates of the full-time program are employed.

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At the University of Maryland’s Robert H. Smith School of Business, students can choose between full-time, part-time, and executive M.B.A. programs. Part-time students have the option of evening courses in Washington, D.C., and Baltimore, or weekend classes in D.C. The Executive M.B.A. track at the Robert H. Smith School of Business is a 19-month program at the College Park campus for applicants with significant management experience. The school also offers master of science in business degrees in finance, accounting, information systems, and supply chain management.

Students enrolled at the Robert H. Smith School of Business can get hands-on experience in financial trading and e-commerce at one of the schools Netcentricity Laboratories, or try their hands at securities analysis and portfolio management through the Mayer Fund.

University of Maryland’s Robert H. Smith School of Business is also one of only 31 business schools in the United States to house a Center for International Business Education and Research. Created by Congress, and funded by the Department of Education, the CIBER program at Smith focuses on research and experiential learning in global entrepreneurship, emerging markets, government policy, and sustainability. For addition global experience, the Robert H. Smith School of Business offers 10-day and semesterlong study abroad opportunities.

Master’s candidates studying at the College Park campus can unwind at the Adele H. Stamp Student Union, which is home to restaurants, cafes, a bowling alley, and a movie theater. The College Park campus is also a short train ride from the museums and monuments in D.C., and within driving range of Baltimore and Annapolis, Md. One famous alumna of the Robert H. Smith School of Business is Lorrie Norrington, on Fortune’s list of the 50 Most Powerful Women in Business in 2009. Norrington is the former president of eBay and sits on the board of directors for DirecTV; Lucasfilm Ltd.; and McAfee, Inc.

The Robert H. Smith School of Business is a school of business management within the University of Maryland, College Park. One of 12 colleges and schools at the university’s main campus, the Smith School offers programs at both the graduate and undergraduate levels, including bachelor’s degrees, full-time and part-time Master of Business Administration (MBA), online MBA, MS, MFin, Executive MBA, Ph.D.s, and executive education outreach programs to the corporate community. Undergraduate degrees are offered in accounting, finance, information systems, international business, supply chain management, marketing, general business and operations management. The University of Maryland’s Smith School of Business is accredited by AACSB International – The Association to Advance Collegiate Schools of Business, the premier accrediting agency for bachelor’s, master’s and doctoral degree programs in business administration and accounting.

Maryland Smith’s Online MBA and Full-Time MBA programs are among the best in the country, according to a new ranking published by Fortune Education.

Smith’s OMBA was listed as No. 6 in the United States in 2021. The highly acclaimed program also places among the top 10 in rankings from U.S. News & World Report and the Financial Times.

Meanwhile, Maryland Smith’s flagship Full-Time MBA program ranked as No. 26 in the country in 2021, according to Fortune Education.

It is the first-ever traditional MBA ranking from Fortune Education, part of the Fortune media organization.

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About the University of Maryland’s Robert H. Smith School of Business

The Robert H. Smith School of Business is an internationally recognized leader in management education and research. One of 12 colleges and schools at the University of Maryland, College Park, the Smith School offers undergraduate, full-time and part-time MBA, executive MBA, online MBA, specialty master’s, PhD and executive education programs, as well as outreach services to the corporate community. The school offers its degree, custom and certification programs in learning locations in North America and Asia.

Full Time MBAChange Course

About this course
Duration21 Months
LevelMasters Program

Course Description

  • The Robert H. Smith School of Business offers an MBA program designed to provide the educational foundation for those students with the potential to exhibit the highest degree of excellence in future careers as professional managers
  • The Full-Time MBA offers Various tracks: General Management/ Consulting, Finance, Marketing, Supply Chain/ Operations/ Logistics
  • The MBA program requires 54 credits of coursework, which is normally four semesters for a full-time student
  • Smith MBAs learn how to leverage big data to make better decisions, and explore their career options in a tight-knit community that encourages collaboration and intelligent risk-taking
  • Graduate students are able to demonstrate an understanding of the economic, political, technological, and social environments in which organizations operate

Fees & ExpensesUSDINR1st year tuition fees

Fees componentsAmount
Tuition & feesINR 41,75,405
Poets&Quants - The Top One-Year MBA Programs In The United States

Other expenses in 1st year

Fees componentsAmount
TransportationINR 2,39,228
Books & SuppliesINR 45,540
MBA FeesINR 1,72,233
International Student feeINR 18,245
Personal ExpensesINR 83,489
TotalINR 5,58,735

Calculated at the exchange rate of 1 USD = INR 72.98|

Tuition & expenses were last updated on 25ᵗʰ May 2020

Entry Requirements

Entry requirements for this course
Class 12thNo specific cutoff mentioned
BachelorsNo specific cutoff mentioned bachelor’s degree from an approved institution and who have demonstrated high academic achievement will be considered.
ExamsTOEFL : 100Reading: 26Listening: 24Writing: 24Speaking: 22IELTS : 7Reading: 7.0Listening: 7.0Writing: 7.0Speaking: 6.5PTE : 68Writing: 68GRE : AcceptedGMAT : Accepted

Profile

Average Class profile for this course
Work Experience5
Bachelors GPA / Percentage3.26
GMAT Score Average640
Student Age30 years
Percentage of International Students35%

An MBA can be expensive – that’s a true fact of life for anybody who wants to pursue a degree in business management. However, many organizations offer MBA scholarships to help offset tuition fees and other expenses.

MBA scholarships usually come in two ‘flavors;’ internal scholarships, which are offered by business schools themselves, as well as external scholarships, which are offered by other organizations, such as the Fulbright Program or the Chevening awards. MBA scholarships are awarded based on a variety of factors. For instance, merit scholarships are awarded to students who have performed well, in past academic settings, in the workforce, or on entrance exams like the GMAT. Need-based MBA scholarships are generally awarded to students who demonstrate that they cannot pay for the degree without additional help. Still other MBA scholarships are awarded to students who come from under-represented backgrounds.

Below you can search for MBA scholarships offered by business schools and other organizations. You can search by keyword, filter by MBA specialization, or find scholarships available for schools in specific locations or are available for residents from specific places.

The Master of Business Administration (MBA) is an internationally-recognized degree designed to develop the skills required for careers in business and management. The value of the MBA, however, is not limited strictly to the business world. An MBA can also be useful for those pursuing a managerial career in the public sector, government, private industry, and other areas.

Most MBA programs include a “core” curriculum of subjects, such as accounting, economics, marketing, and operations, as well as elective courses that allow participants to follow their own personal or professional interests. Some schools require that MBA candidates complete an internship at a company or organization, which can lead to concrete job opportunities after the program.

Quality business schools generally require that candidates have at least a few years of professional work experience before starting an MBA program. Applicants are also asked to submit Graduate Management Admission Test (GMAT) or Graduate Record Examinations (GRE) scores, academic transcripts, letters of reference, and an essay or statement of purpose that reflects why they want to pursue an MBA. Non-native English speakers usually have to prove adequate English skills with TOEFL or IELTS scores, or through previous academic experience.

The MBA is currently the most popular professional degree program in the world. Today there are over 2,500 MBA programs offered worldwide; most are offered in English. First introduced at universities in the United States around the turn of the 20th century, MBA programs have evolved to keep up with the demands of the times.

While traditional two-year MBA programs are still common, especially in the United States, one-year programs have become increasingly popular. Part-time and online programs are also widely available for professionals not willing or unable to take a year or two off to do a full-time program. Executive MBA (EMBA) programs are part-time programs targeted at professionals with more years of managerial experience than traditional MBA candidates.

If you’re thinking about doing an MBA program, you might ask yourself “am I a good candidate?” Of course, the answer depends on what schools you are applying to, and what these schools are looking for. However, most business schools will require for a few main things, such as a first degree, work experience, and a competitive GMAT score. Other aspects, such as extracurricular activities, can make you more attractive to a business school.

Work experience (important)
Most accredited MBA programs will require candidates to have at least two or three years of post-degree, full-time work experience. However, many applicants have more work experience than the bare minimum. Your competitiveness can be judged by comparing your work experience to the average of accepted students who enroll in the MBA programs you’re looking at. Many business schools disclose the average participant age (some profile listings at FIND MBA include this information, as well).

If you have significantly less work experience than the average, then the business school may look to other parts of your application, to see if you stand out in other ways.

Standardized test scores (important)
Although the GMAT is not required for admission to some MBA programs, the vast majority of accredited business schools will want you to take it. They will examine your score to see how well you will fit in their MBA programs, particularly the “core” classes. Some business schools will have a minimum GMAT score as a prerequisite to apply, but often, you can judge your competitiveness by comparing your GMAT score to the average score of accepted students, which is often found on the business school’s website (FIND MBA also provides this information for some business schools). If your GMAT score is significantly lower than the average, other parts of your application will need to be stronger to balance it out.

For some MBA programs, you can take the GRE instead of the GMAT, and some business schools provide their own admissions test.

Finally, if you are a non-native English speaker, you may be asked to take a language test, such as the TOEFL or IELTS (for English-language MBA programs).

Undergraduate performance (important)
Beyond work experience and standardized test scores, business schools will also examine your undergraduate GPA and other indicators, to see evidence of how well you can do in an academic setting. Some MBA programs will be looking for particular types of undergraduate degrees: some require four-year degrees, for instance.

Extracurriculars (helpful)
Although not usually required by business schools, anything you’ve done outside of work or school, such as volunteer work, club membership, or the like, can strengthen your application.

The interview (usually required)
After reviewing your application, most business schools will also require at least one interview to be admitted into an MBA program. These generally happen in-person, although some business schools will conduct these using the telephone or videoconferencing.

Qualities of a good MBA candidate:
Work experience: at least two to three years
GMAT or GRE score
Undergraduate degree with a good GPA
Extracurricular activities (helpful)

Choosing to take a year or two out to study for an MBA is a big commitment, made only bigger when you consider the costs.

But there are many situations where the benefits of an MBA will be worth your while. Here we list a few of the most common reasons professionals choose to study for an MBA.

You’re eyeing up the corner office
MBA programs can be expensive; it’s not just the fees that can drain your savings account, but the lost earnings for the time that you’re studying, too. However, professionals undertaking MBA programs do so with the expectation that their increased earnings following graduation will eventually outweigh the costs.

Indeed, graduates of the top MBA programs in the world often increase their annual pre-MBA earnings by at least 90 percent after they complete their studies, according to data from The Financial Times.

If you’re seeking a promotion, greater leadership responsibilities and higher earnings, an MBA is a tried-and-tested way to climb the career ladder.

You’d like to make some new connections
You know what they say: in business it’s not what you know, it’s who you know. Joining an MBA program will allow you to make connections with professionals from different sectors and likely different cultures as well. Getting to know your fellow classmates and the teaching staff will offer a wealth business connections, strengthened by the internship included in many MBA programs. You’ll graduate ready to impress your firm with your new-found connections, or even seek out a new role, using your expanded network. And indeed, in today’s globalized world, it’s great to connect with people from all around the world, and your MBA cohort will likely include participants from many different countries.

You’re looking to move into a new industry
An MBA program is a productive way to hone your professional skills while taking the opportunity to specialize in a new area.

Many programs offer concentrations or specializations that prepare graduates to move into specific industries. One of the most popular career steps for MBA graduates is the management consulting industry, for example; and indeed, many business schools offer MBA specializations in consulting for just this purpose. But many applicants plan to use their MBA to take the leap into other sectors, with MBAs focused on industries like oil and gas, healthcare, and retail, for example

Students will often find that MBA specialization classes are filled with a mix of students who have worked in the industry and those looking to move into it – in many cases both are welcome, and by the end of the MBA, industry newcomers should feel relatively caught-up and well-equipped to seek work in their chosen field.

You want to move into a new functional area
So there are students looking to break into a new industry, and then there are students wanting to develop skills in a new functional area.

MBA programs with concentrations in operations management, finance and marketing are just a few examples of programs where students can become experts in certain business functions.

These concentrations will help prepare students to make the jump into a different functional area. For example, many students with a background in information technology can leverage their tech skills to break into other quant-heavy areas such as supply chain management or business analytics, by pursuing MBA specializations in those areas.

You’re dreaming of work in a new country
For many MBA applicants, programs abroad offer the opportunity to practice business skills in a foreign language.

Programs in the US and UK, but also Canada, Australia and New Zealand are often made up of students from many different countries looking to improve their English skills.

Studying for an MBA abroad offers multiple benefits. The first is the chance to take honed business language skills back to your workplace after graduation, putting yourself in a better position for promotion as you now have a more internationally-focused set of skills.

But studying intensively in another language, like English, can help line you up for roles outside your home country: an internship during the MBA program can help you to seek out employment opportunities in a new setting.

Even if you choose to return home after graduation, the international network you build during your MBA will be with you for life, creating numerous opportunities for your future employment and your business.

If you’re looking to work in another country post-MBA, make sure you are aware of your chosen country’s visa rules.

You want to start your own business
Increasingly, MBA programs can also be ways to turn entrepreneurial ideas into reality.

Not all MBA students are interested in starting their own businesses. But for those who are, many b-schools now offer accelerator programs, startup competitions, and specialized curriculum in entrepreneurship. These MBA elements and other electives can help students develop their business ideas, and then nurture their startups with input from faculty members and entrepreneurs.

The Latest Rankings Of The World's Best Online MBA Programs

As well as the specialist skills and opportunities on offer, the diverse range of classmates on an MBA program makes it an excellent setting to make connections, especially if you plan on building a business with global reach.

There’s no way around it: an MBA is expensive. But it’s an investment: usually, the financial cost of undertaking an MBA is going to pay off throughout the rest of your career. But you still have to find a way to fund your MBA studies, not to mention living expenses and other costs.

Most MBA students end up cobbling together a combination of funds from various sources, including scholarships, loans, savings, and more. Here we cover the most common types of MBA funding.

MBA scholarships
Scholarships from universities and business schools tend to be based on one of two factors: academic excellence, financial need, or both.

For the scholarships based on academic performance, schools will often look at a combination of factors, including GMAT score and undergraduate GPA. For need-based scholarships, your profile will be evaluated based on your background, your financial situation, and what you can contribute to the MBA cohort.

Some business schools additionally offer scholarships for students pursuing particular subject areas or industries, often backed by alumni endowments.

Applications for program-specific scholarships usually run parallel to MBA applications, with the scholarship deadlines often coming a little earlier than the final program deadline. This is one reason it pays to get your MBA application in before one of the earlier deadlines: there can be a better chance at winning a scholarship.

Schools usually publish their available scholarships online. Some also share information about external scholarships relevant to their study programs; if you don’t fit into one of the scholarship categories above, then an external scholarship—funding offered by organizations outside of the business school—might be right for you.

But with such a myriad of external scholarships available, it can be hard for schools – let alone potential students – to keep on top of them all.

Creative MBA students have found funding from all corners of society, from the Fulbright Scholar program, to research institutes, to cultural institutions they’re connected to.

There are also scholarships for international students from particular countries, students from specific cities or states, students with disabilities and, increasingly, women in business.

Loans for MBA students
If you are privileged to have the option, then personal loans from family and friends can be a relatively affordable way to fund your MBA studies. The people who love you and care about your future are much more likely to offer favorable interest rates than the bank. Although the bank is still an option worth considering.

Many countries have student loan schemes, often funded through governmental organizations. In the US, schemes like the Stafford loans are designed with students in mind, and generally offer more lenient terms than private loan institutions.

State-backed loan schemes tend to only offer support to domestic students, or to international students who can have a resident co-sign for them. For international students without a resident co-signer, finding loans can be much tougher.

One organization that aims to make this easier is Prodigy Finance. Started by a group of MBA grads, Prodigy offers loans to international students who have been accepted to top MBA programs around the world.

Another is IEFA, which offers loans to international students in the US who are backed by a cosigner in the US.

Savings
If you’re fortunate to be able to save up the tens of thousands of dollars generally required to pay for an MBA, then congratulations! For most of the early-to-mid-career professionals looking to start an MBA program, they’re not yet at a place in their careers where this is an option.

However, saving up a smaller chunk of funds is still an option. Perhaps you can use your savings in combination with one or several of the other funding options to cover the study fees and supported costs of your MBA.

Employer sponsorship
An MBA won’t only add value to your résumé but also to your employer’s business.

If you are expecting to stay with your employer following graduation, then it could be worth asking your employer whether they would be willing to contribute to the costs of your study.

They will benefit from the connections – often international ones – you will make during the program, as well as your new skills. And if you are an international student wanting to use your study time to hone a second language, perhaps English or Mandarin, then it won’t only be you but also your employer who reaps the rewards of your increased ability to do business in another language.

Employers may agree to cover an employee’s tuition fees and perhaps also living costs with an expectation of loyalty: that the employee will stay with the firm for a certain amount of time following graduation. MBA students and their employers sometimes make agreements that if an employee leaves the company earlier than expected, they will pay back a portion of the MBA costs.

[See the Top 10 Business Schools for MBA Employer Funding]

Start early
In order to give yourself the best shot at gathering funding for your MBA, it pays to do your research and start early.

Financial aid offices within business schools often have tried and tested ideas for funding, so if you’re having difficulty, remember to make use of their support.

So you’ve decided it’s time to further your higher education and pursue an MBA. Maybe you want to network, maybe you want to acquire new business skills, maybe you want to redirect your already flourishing career towards start-ups, entrepreneurship, or some other area of business. Maybe you want to make more money once you graduate.

Now, it’s time to start the application process. You’ll need to spend a lot of time putting together your MBA applications and making sure you’re the best candidate you can be. But the good news is that many MBA programs, even programs that are located all over the world, are usually looking for similar application materials and have similar requirements. Read on to find out what those are.

What do I need to be a viable MBA candidate?
Business schools are looking for a certain set of baseline requirements from their MBA candidates. First of all, it’s essential that you have an undergraduate degree from an accredited university.

Second of all, you’ll need standardized test scores, either the GRE (Graduate Record Examinations, the standard test for a wide range of graduate school programs) or the GMAT (Graduate Management Admission Test, the test specifically geared towards business school applicants).

Most schools accept either the GRE or GMAT, but most require that you took the test within the last five years. Schools generally don’t require that you achieve a minimum GMAT or GRE score, but many schools publish the range of scores for their accepted classes.

Applicants who are not from an English-majority country usually must also complete a standardized test proving English proficiency, such as the TOEFL (Test of English as Foreign Language) or the IELTS (International English Language Testing System). Even schools outside of the English-speaking world, such as the University of Mannheim’s Mannheim Business School in Germany and China Europe International Business School in Shanghai, require English proficiency.

Finally, you’ll need work experience. Some MBA programs require two years of relevant work experience; other MBA programs, such as Stanford’s, don’t have any minimum work requirement, but even for these programs most accepted applicants still have at least two years of work experience. For college seniors who want to apply for an MBA, some schools will issue acceptances contingent on the applicant completing at least two years of work experience before matriculating at the MBA program.

Which materials do I need for my MBA application?
If you want to apply for an MBA program, you’ll need to gather a fair number of application materials. Many MBA programs require that you submit these materials online; you can find the place to do that at the various schools’ websites.

For your applications, you’ll usually need official test results from the GRE or GMAT, an official transcript, two to three letters of recommendations, a resume, answers to the school’s essay questions, and an application fee.

The application fee depends on the school.

The essay questions depend on the school. A recent Harvard MBA application essay prompt asked students to imagine that they are introducing themselves to their classmates on the first day of the MBA program. Oxford University’s Saïd Business School has asked students how they fit with Oxford’s mission, and whether there is anything not covered in the admission form that Oxford should know.

Other business schools want something more than just a written essay. Boston University’s Questrom School of Business, for instance, currently requires students to make three video essays when applying to the school’s MBA program.

Some business schools also ask shortlisted applicants to attend an application interview as part of the MBA application process. Many schools, however, now give the option for students to do the interview online, either through Skype or another platform.

When do I need to apply to an MBA?
Many business schools use the rounds system for application deadlines. That is, some schools have four or five application deadlines. For business schools in the US, these rounds generally start in October or November and continue through April or May (for fall intake). Students can apply for any of the four or five deadlines, and the school will accept students during each application round.

But other schools don’t use the rounds system, and instead require students to apply by one hard deadline. Make sure to check the deadlines for the schools on your list.

If you’re hoping to win a scholarship, keep in mind that some schools have special scholarship deadlines as well.

How do I choose which schools to apply to?
Choosing your schools is an integral part of the application process. Experts and officials often remind prospective students to avoid applying only to top-ranked programs. Every student has different needs, and it’s important to consider a variety of factors when you’re applying to schools, including cost, specializations, contacts and geographical location.

There are, however, many sources of funding that are worth exploring. Some students combine their own financial means (savings, family assistance, etc.) with outside sources of funding. Others have to rely entirely on a combination of grants, loans, and employment.

Grants & Scholarships
A good way to begin searching for financial support is by investigating what grants and scholarships are available from governments and private foundations. Grants and scholarships are awards that do not have to be repaid. Merit-based scholarships for MBA programs are prestigious and substantial awards given to applicants who can demonstrate an exceptional academic and professional record, and show potential for future success. Some scholarships, such as those offered by the US-based Fulbright Commission, are highly competitive.

There are also many other grants that are offered to a limited range of students – to students of a certain religion, ethnicity, nationality, or academic interest, for example. To see which scholarships you might be eligible for, please consult one of the many publications that provide extensive lists of scholarships and educational grants.

You can use FIND MBA’s MBA Scholarship directory to find scholarships.

Business School Resources
Business schools also frequently offer merit-based scholarships and grants to some of their top applicants. It is always a good idea to establish contact with the financial aid offices of business schools (if available). These offices can be valuable resources in the hunt for sources of financing, and they may be able to tell you about some of the more obscure grant and scholarship opportunities out there. Sometimes even a quick browse around a business school website can raise awareness about funding possibilities.

Corporate Sponsorship
Prospective MBA students already working in the business world may also be able to persuade their employer to finance part or all of their MBA program. Bigger companies will sometimes have assistance programs for their employees who seek to broaden their knowledge and skills. In return for sponsorship, the company might require the employee to commit to staying for a set number of years after they have finished the MBA. Before agreeing to such an arrangement, it is good to think about whether a binding employment contract fits with your long-term career objectives and personal ambitions.

Loans
Even after securing some assistance through scholarships, grants, and employer sponsorship, many MBA students will still find it necessary to take out a loan to finance their studies and living expenses. There are several banks, private institutions, and online lenders that offer student loans. It is important to recognize that the terms, conditions, and rates that apply to these loans will vary. Some loans, such as Stafford Loans in the United States or Career Development Loans in the United Kingdom, can be subsidized by the government if one can demonstrate financial need or eligibility for government assistance.

Online Resources
We have provided a list of links to English-language websites that might be of use to prospective MBA students. Please understand that this list is for reference purposes only. FIND MBA does not officially endorse any these institutions or creditors, nor can we vouch for the accuracy or quality of the information and/or services they provide.

  • Grants & Scholarships:
  • Fulbright Commission
  • British Council
  • British Foreign and Commonwealth Office
  • DAAD – German Academic Exchange Service
  • Nuffic (Netherlands)
  • Erasmus Mundus
  • educationUSA – United States State Department Guide for International Students
  • Institute of International Education (IIE)
  • Ford Foundation International Fellowship Program
  • Australian Department of Education Science & Training
  • American Association of University Women International Fellowships
  • www.finaid.org
  • www.fafsa.ed.gov
  • Loans:
  • Chase Student Loans
  • Sallie Mae Student Loans
  • National Education

Accreditation from a reputable organization is one good way to check the quality of a business school. Accreditation organizations evaluate the quality standards of a business school’s teaching, faculty, services, and students, among other things.

The three most-coveted, international accreditations for MBA programs are those awarded by AACSB, AMBA, and EQUIS; their methodologies and regional focuses are briefly described below. Note that while FIND MBA’s program listings only reference these three accreditation organization, it’s possible that a business school may be accredited by other institutions, including domestic accreditation bodies and other international organizations. Check with the schools you are interested in for more information.

In 2019, there were at least 90 business schools worldwide that were accredited by all three of the main international organizations—AMBA, EQUIS, and AACSB. This distinction is often referred to as the “triple crown.”

AACSB
The US- and Singapore-based Association to Advance Collegiate Schools of Business (AACSB) accredits business schools offering graduate and undergraduate business programs. It began doing this in 1919, and now accredits business schools in over 51 countries. It has also been accrediting accounting programs since 1980.

An AACSB accreditation in business represents a positive evaluation of a “school’s mission, operations, faculty qualifications and contributions, programs, and other critical areas.” Schools are reevaluated every five years.

As of 2019, over 800 institutions held an AACSB accreditation in business, of which about 75 percent were located in the United States. Other countries with high numbers of AACSB-accredited business schools include Britain, France, and Canada.

List of AACSB-accredited business schools

List of AACSB-accredited Online MBA programs

AMBA
The London-based Association of MBAs (AMBA) accredits MBA programs in around 70 countries. As of 2019, about 50 percent of all AMBA-accredited MBAs and other business programs were in Europe or the United Kingdom. Together, Latin America and Asia contained 33 percent of AMBA-accredited schools, with only two percent located in North America.

AMBA has been accrediting programs since the early 1980s. Along with MBAs, it also accredits Doctor of Business Administration (DBA) and Master of Business and Management (MBM) programs. It judges the quality of a business school’s strategy, mission, faculty, students, curriculum, and assessment. By AMBA standards, for example, students admitted onto an AMBA-accredited program must have at least three years of work experience. Three quarters of a business school’s faculty must have a Masters or Doctoral degree in a relevant discipline.

List of AMBA-accredited business schools

EQUIS
The European Quality Improvement System (EQUIS) is run by the Brussels-based EFMD Management Development Network. EFMD offers a number of accreditations, but EQUIS focuses on institutions that offer undergraduate, graduate, and doctoral business programs, including the MBA.

EQUIS evaluates a business school’s governance, strategy, programs, students, faculty, research and development, executive education, contribution to the community, resources and administration, internationalization, and corporate connections.

Over half of the more than 180 EQUIS-accredited business schools are located in Europe or the UK. As of 2019, some 15 US-based business schools had earned an EQUIS accreditation. The countries with the most EQUIS-accredited business schools include the UK (26), France (20), and China (23).

If you’ve applied for and accepted an offer to an MBA program, you may think that you don’t need to make any more decisions for the next two years. However, at many MBAs in the United States and elsewhere, you will need to make another choice: whether to specialize your MBA by choosing a concentration.

What is an MBA concentration or specialization?
Concentrations are akin to college majors. They usually consist of courses that a student takes in a specific subject on top of normal core MBA curriculum. Concentrations have grown in popularity in recent years in the United States, and some schools, such as Saunders College of Business at the Rochester Institute of Technology, require students to choose a concentration.

Other schools, such as Tepper School of Business at Carnegie Mellon University and the University of Chicago Business School, don’t require concentrations, but their students typically pursue at least one concentration, sometimes as many as four. Some schools, such as Saunders, allow students to design their own concentrations, which includes taking courses in other graduate school departments for students with interdisciplinary interests.

Other schools offer concentrations under a different name—Wharton refers to concentrations as “majors,” for example–and still other schools, such as Stanford Graduate School of Business, don’t offer concentrations, instead allowing students to take a series of electives in a variety of subjects during their second year.

Some schools don’t always state students’ concentrations on their diplomas, but concentrations usually appear on official transcripts.

Should I do an MBA concentration or specialization?
Concentrations and specializations are good for students who know exactly what they want to do in their career. A concentration can also help a resume stand out in the large pile of applications that companies invariably receive from MBA graduates.

Do I have to pick a concentration or specialization before I apply to an MBA?
No. For most two-year MBA programs, students focus on the core curriculum during their first year and pursue concentration requirements in their second year. This means that at many schools, such as California State University, Fullerton and Boston University’s Questrom School of Business, students must declare their intent to pursue a concentration by their first or second semester.

And for many career paths, pursuing a concentration isn’t always necessary.

What are the most popular MBA concentrations and specializations?
Most business schools offer a panoply of concentrations, but some of the most common ones are:

Consulting

A concentration in consulting can prepare MBA students for a career in a management consultancy, or as an internal consultant in a firm. Those students wishing to work in consulting roles in a specific industry—in information technology or healthcare, for instance—can choose to pursue a secondary concentration in that area.

See the Top 10 Business Schools for a Career in Consulting

Finance

Finance concentrations can help students enter careers in fields such as financial services, banking and risk management; or prepare students for corporate finance positions in other firms. This concentration is typically considered one of the most financially lucrative options.

See the Top 10 Business Schools for a Career in Finance or Financial Services

Marketing

A concentration in marketing can help a student build a career in marketing, either as a marketing manager at a company or at a specialized marketing firm. Marketing professionals are more in demand than ever these days, thanks to the increased competition created by the Internet and globalization.

See the Top 10 Business Schools for a Career in Marketing

Global/International Business

This concentration prepares students to lead globally by educating them on the international business environment and the role that government plays in business.

Technology or Information Technology

Students who choose one of these concentrations can pursue a career as a data manager, IT consultant, as a strategist who uses technology to improve a business, or to work in a technology firm like Apple, Google, Facebook, or Microsoft.

See the Top 10 Business Schools for a Career in Technology

Operations Management or Supply Chain Management

Concentrations in operations management or supply chain management can help students learn the ins-and-outs of logistics management and other operational and supply chain issues. Professionals with these skills are in high demand due to an increasingly complex international business system.

See the Top 10 Business Schools for a Career in Operations Management or Supply Chain Management.

Strategy

A concentration in strategy can help students find jobs as strategists in specific industries, or help them become general strategy consultants.

See the Top 10 Business Schools for a Career in Strategy or Business Development

Entrepreneurship

Entrepreneurship students will learn how to start a company or implement new initiatives in an existing company. This concentration can also be helpful for MBAs looking to get into related fields, such as venture capital.

See the Top 10 Business Schools for Entrepreneurs

Corporate Social Responsibility (CSR) or Sustainability

A concentration in CSR or sustainability can boost careers for students who want to work in nonprofits or sustainable companies, or for those who want to work in sustainability roles in other firms. In this concentration, students learn to work for the so-called “triple bottom line,” which prioritizes profit, the planet and employees.

See the Top 10 Business Schools for CSR/Sustainability/Social Entrepreneurship

How do I pick the right MBA concentration or specialization for me?
With so many different concentrations and specializations, choosing only one or two might seem like an impossible decision. But there are plenty of ways that you can figure out the right concentration or specialization for you. Talk to professionals at career fairs. Make a list of the aspects of your previous jobs and internships that you liked, and the aspects you disliked, and find out which concentrations emphasize the positive aspects. Take a Myers-Briggs Type Indicator test to find out your strengths.

Attend networking events, read job descriptions, research average salaries and job duties.

Do schools outside the US offer MBA concentrations and specializations as well?
Concentrations and specializations aren’t as common outside the United States. For example, British business schools such as London Business School and the University of Warwick offer plenty of electives, but no concentrations. However, schools in Asia, such as China Europe International Business School and the National University of Singapore, offer a handful of common concentrations, such as finance.

What is the GMAT? Why should I take it?
GMAT stands for “Graduate Management Admission Test.” The GMAT is a standardized test that is required to apply for many MBA programs and other masters-level management programs around the world. It assesses skills that are important to management, including analytical and quantitative skills, as well as the test-taker’s ability verbal, reading and writing ability. All else considered, a good score indicates strong management aptitude.

How does the GMAT work?
The GMAT is delivered entirely on a computer, at test centers all over the world. Currently, the GMAT is divided into four categories:

An analytical writing assessment
An integrated reasoning component
A quantitative component
A verbal assessment
The test is 3.5 hours long; individual sections range from 30 minutes to 75 minutes each.

The verbal and quantitive sections are 30 minutes each. These two sections consist solely of multiple-choice questions, which are computer adaptive, meaning if a test-taker gets one question right, the next question will be more difficult.

For the integrated reasoning section, test-takers are asked to analyze data that is presented in tables, graphs, or other sources. It is 75 minutes long.

For the analytical writing assessment, test-takers are asked to analyze reasoning in an argument. It is also 75 minutes long.

How is the GMAT scored?
After test-takers complete the GMAT, they will be given a score between 200 and 800, which is based on scoring on the verbal and quantitative portions of the test. The analytical writing and integrated reasoning sections are graded separately, on scales of 1-6 and 1-8, respectively.

On test day, test-takers can choose to have their GMAT scores automatically sent to up to five business schools. A fee is required to send the score to additional schools.

What GMAT score do I need to get into an MBA program?
It depends. Some MBA programs have minimum score requirements. Also, many business schools will provide information, such as the median GMAT score of accepted students, from which you can determine your competitiveness. You can find some of this information on individual business school profiles at FIND MBA.

Are there alternatives to the GMAT for MBA admission?
Yes. Some business schools will accept a Graduate Record Examination (GRE) score in lieu of a GMAT score. The GRE is another computer-adaptive test that is used when candidates apply to masters-level programs. Additionally, some business schools have their own admissions test.

Where should I do my MBA?” This is a question that many applicants ask themselves. For some, it makes sense to stay locally, while others might find better opportunities (or just a great adventure) somewhere else.

You can do your MBA locally
Many people decide to do their MBA where they are already living. This option is good for those who are generally happy where they are, and don’t need international experience. It can be also easier on the budget, as tuition for residents can be less expensive than for non-residents; for some there may not be the added expense of relocating.

People who are generally happy with their career or just want an edge in their current job might consider doing a part-time MBA or an online MBA program, which can be adapted to the needs to working professionals.

You can do your MBA to gain international experience
In an increasingly globalized world, many people find that having international experience gives them an edge in business. Doing an MBA in another country can help with this, in that students are able to spend a year or two abroad building their international business skills.

For example, non-native English speakers often decide to do their MBA in the UK or the USA to help with their language skills. And MBA programs which offer internships or consulting project components can allow students to experience the business world in another country first-hand.

You can do your MBA where you want to work
Some people use an MBA as leverage to move to a country where they want to live and work. For those who want to move elsewhere, an MBA can provide some of the necessary ingredients, such as networking opportunities, and connections to local businesses. However, people who want to move to another country need to be conscious of issues like language, visa availability, and culture, all of which can complicate the transition.

Some MBA rankings list schools in terms of “international mobility,” based on the percentage of graduates who end up in a different country from where they are from.

If you’ve decided to return to school for business, you’ll want to choose the program that best fits your career goals, experience, and the amount of time you want to put in. The classic two-year MBA is not the only option: schools offer plenty of different MBA programs based on your level of work experience, your geographical distance from the program and the amount of time you are able to devote to the program.

Full-time MBA
The full-time MBA is geared towards candidates with two to seven years of work experience, and usually requires students to quit their jobs and devote themselves completely to studying. In the United States, full-time MBA programs typically last for two years, although a growing number of US-based business schools are offering accelerated, one-year MBA programs.

Two-year, full-time MBA programs typically facilitate networking at the beginning of the first year by assigning students to cohorts who take the core classes together. Other schools call this the cluster system, while still others assign students to study groups with four to six other people.

Some full-time MBA programs require students to complete a summer internship between the two years of studying; sometimes, this internship will turn into a job for students after they graduate.

The second year of a full-time MBA program is often dedicated to elective courses or concentration options.

In Europe, as well as in the UK and some other parts of the world, full-time MBA programs typically last for only one year, not two. While these one-year programs usually don’t allow students to complete an internship, some offer consulting projects as an alternative to an internship.

Many students use full-time MBA programs to make substantial career shifts, such as from one industry to another or from one country to another.

Part-time MBA
The part-time MBA is intended for students who can’t or don’t want to leave their jobs. Students who pursue a part-time MBA can also work while pursuing their degree, meaning that this option is more flexible than a traditional two-year full-time MBA program. Some part-time MBA programs are flexible and can last anywhere from two years to seven years (or more), depending on how much time students devote to their studies. Many schools allow students the opportunity to take courses on weeknights or weekends, depending on their schedules.

Some schools try to recreate the camaraderie of a traditional full-time MBA by assigning part-time students to a cohort. Other schools allow part-time students the opportunity to pursue a specialization, such as marketing or finance.

Often, students will do part-time MBAs at local business schools. Graduates of part-time MBA programs usually can’t expect the same kind of career mobility that a full-time MBA program offers.

Executive MBA
Unlike the part-time MBA and the full-time MBA, the Executive MBA is geared towards a specific kind of professional: those with substantial leadership experience. Students at these programs typically have at least seven to ten years of work experience. EMBAs are also part-time, with a variety of different scheduling options. Some schools offer classes on weekends, others in the evenings, and still others offer modular scheduling options, such as one week per month. These programs typically last between 16 and 22 months.

Like many part-time MBAs, the EMBA often relies on the cluster or cohort system as well, creating the sense of community inherent in the full-time MBA.

Online MBA
The online MBA is an alternative for students who need flexibility, in terms of geography and scheduling. Not to fear, though: online MBAs are equivalent degrees to in-person MBAs; students’ diplomas usually do not indicate that they pursued their degrees online. Many online MBA allows students to complete their coursework on their own time, although some are structured in a cohort format. These programs typically take three to four years of part-time study, although some can be completed in a shorter amount of time. Online MBA programs also typically offer several intakes per year.

Many online programs deliver classes “asynchronously,” that is, through pre-recorded lectures and the like; although some programs offer real-time lectures. These “synchronous” classes require students to be online at specific times.

Although some online MBAs allow students to pursue their course of study at their own pace, some schools also offer community-building opportunities. Some schools require students to meet using webcams for an online discussion every week, while other schools offer periodic residencies to facilitate networking.

Blended MBA
The blended MBA can be thought of as a combination of the online MBA and part-time MBA, combining periods of online study with face-to-face sessions. Like the online MBA and part-time MBA, these programs are intended for working professionals who don’t have the resources or desire to quit their job to study. These programs often include several face-to-face workshops per semester, plus study-as-you-go online tasks and discussions in electronic forums.

Global/International MBA
The global/international MBA is not an official separate category, but it’s an increasingly common designation for many MBA programs. These programs tend to attract a higher percentage of international students and faculty than regular programs, and also don’t focus their discussions on any one country’s business practices. Several of these schools also offer students the opportunity to rotate between different business schools during their course of study; for example, a student might spend several months pursuing a consulting project in an emerging market, or spend a month in China, Japan or Korea. These programs are often geared towards students pursuing careers in international business.

Why do an MBA? Here are the five most common reasons why people do an MBA:

  1. An MBA can help with career advancement
    One of the most common reasons for doing an MBA is that, for many people, it can lead to the next step in their careers. Sometimes, after working for a certain amount of time, people find that they’ve reached a certain level in their careers, and they need something else to get to management-level positions. An MBA can add specific business skills to your toolkit, such as leadership or strategic thinking, that will be good firepower when applying for management-level positions or promotions.
  2. An MBA can help you meet people
    It’s said that it’s not what you know, it’s who you know. If you do an MBA, you can meet a lot of people: you’ll be surrounded by professors, faculty, and students from all over the world. Internships – which are a required component of many MBA programs – are a way to get a foot in the door into companies and industries you are interested in.

And beyond that, most business schools will sponsor events such as panels and mixers, where you can meet people from the business world and beyond. Additionally, many business schools’ career services departments will host networking events, where potential employers will come and introduce themselves to you and your fellow students. All of these will prove to be invaluable assets as you look for jobs after graduation.

  1. An MBA can help you learn about other functional areas and industries
    Students who want to shift from one industry to another will find that an MBA can help them with specific information that may be necessary for the new industry. For instance, changing from the retail sector to the energy sector might require specific knowledge about regulatory issues or energy policy.

Likewise, changing from one functional area, like information technology, to another, like marketing, might require a different way of thinking about business.

In either case, some students find that a specialized MBA program can help them bridge those gaps.

  1. An MBA program can help you move to a new place
    An MBA program can be a good way to move to another city, or even another country. Just being in a new place for one or two years can help you get the lay of the land, find companies that you want to work for, and arrange meetings with potential employers. In fact, many students choose their MBA program based on location — with a long-term view of staying and working after graduation.

Those who do want to move to a new country should be aware of visa regulations. Some MBA rankings rate school based on a metric called “international mobility,” meaning the number or percentage of graduates who end up working in a country that’s different from where they are from.

  1. An MBA can help you make more money
    The bottom line is that a good MBA program can provide a measurable increase in salary. In fact, for most of the trustworthy MBA rankings, post-MBA “salary increase” is one of the main metrics for judging a school’s quality in relation to others.

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