MBA

·                     Why Get An MBA?

Here are some common reasons:

1) for advancement in a career in business

2) career change from one business field to another or into management or administrative position in another field (such as engineering, arts, nursing)

3) obtain skills and credibility for starting own business

4) specific career goal that "requires" an MBA (such as investment banking or management consulting)

5) specific management training

6) higher salary potential

·                     How Long Does It Take?

Two full academic years, usually with an internship between the first and second years. Many schools have created more flexible and part-time options to accommodate the schedules of working students.

·                     Curriculum
The traditional model consists of a first year of core general business classes and a second year of electives allowing specialization. Some schools offer a two-tier model, in which the core classes can be waived so that students can focus more on advanced classes. Some students with a business background can enter these programs in the second half. Also, there are both national and regional schools. National schools admit students from all over the U.S. They are more visible, offer more prestigious contacts, and are often more competitive. Regional schools recruit students from their geographic region and have strong ties with local employers. When researching programs, you may want to decide which is most important for you.

·                     Factors to Consider When Researching Schools
Do advanced study courses fit your academic/career goals?
Can you take courses outside the business school?
What kinds of special programs are available (internships, entrepreneurship, projects with local companies)
What teaching method is used (lecture, case study, projects)?
Does teaching philosophy lean more toward theory or application?
Quality of faculty (research interests, areas of expertise)
Class profile (age, diversity, etc.)
Class size
Career and job search services
Location
Relationship with real-world employers
Cooperative vs. competitive environment
Financial aid

·                     Entrance Requirements
1) Academic RecordThere is no particular undergraduate degree required. Only about half of MBA students nationwide have a business or economics degree. At UT's McComb's School of Business, 34% of last year's entering class had business degrees, 24% had liberal arts degree, and 42% had technical or science degrees. Many programs require calculus or statistics as evidence of quantitative skills.

2) GMAT - Graduate Management Admission TestThis exam includes verbal, qualitative, and analytical writing sections. It is a timed test given on computer. The score is reported on a 200 to 800 scale with an average score on 500. For more information, see the GMAT website. At UT, the average GMAT score for those who were accepted for 2006 was 673.

3) Work ExperienceIt is standard for many schools to require two years of work experience prior to admission. More competitive schools may even require more years of work. For example, last year's entering class at UT's McComb's School of Business had an average of five years of experience.