Top Online MBA Degree Programs

What is MBA?

MBA/ M.B.A - Master of Business Administration
The full form or widely known is MBA – Master of business in administration. A degree program originally invented or originated since 19the century in the United States of America. A varied range of people from all walks of life, attempt to attain this degree. Main motto of this degree program is to establish a co relation between the degree holder and the various aspects of business including:

• Accounting
• Finance
• Marketing
• Human Resources
• Operations Management and many more

These programs are flexible enough in offering the students; general business courses during the entire program tenure. At times the students also select and focus probably one fourth of their study tenure on the selected subject.
Accreditation process is followed religiously by authorities keeping a tab on the services and operations of institutes and the programs offered. Evaluations are conducted by external entities for determining the requisite standard. On clearing this process the accredited status is been bestowed by the agency.

Evolution of a professional through the MBA degree:

1. Which are the basic types of MBA programs?

   The modern business schools nowadays are equipped enough to offer MBA degree programs which are crafted to suit requirements of students from all walks of life including; Full time, Part time, Executive and Online or distance learning – with specialized subjects.
   MBA Full time - Two-year

   These programs have tenure of two academic years/18 months of terms. Students here are a bit different as compared to other classes. It is so because they are the ones with considerable prior hand on work experience. They also attend classes in a regular manner in the weekdays like any other university students.

   MBA - Accelerated

   These programs are different from two-year programs. One can consider them to be one degree higher than the crash courses. Here the load of syllabus, classes and examination is far more intense than regular MBA classes. It is so because they practice fewer intervals in the program tenure and also amidst semesters as well. They do not observe three to four months summer breaks. They have seven to ten days off instead of the luxury of three to five weeks vacation between two semesters as compared to a regular curriculum.

   MBA - Part-time

   These programs are known and widely popular amongst working professionals who choose light course load; though it may last for a longer period. These programs usually have classes on weekday evenings, or post routine working hours during week days. Three years or more is the tenure for such part time programs.

   MBA – Modular

   Syllabus is similar to that of part time programs. They are usually use lock step method or set of courses where coursework is packaged together in slabs ranging from one to three weeks.

   MBA - Executive Programs (EMBA)

   Specially crafted and designed syllabus helps to meet learning requirements; especially for professionals at managerial and executives levels. The beauty of the program is that it allows students to attain an MBA or other business related graduate degree in a span of two years or less and that too while these professionals are employed full time. Applicants here hail from varied type and size of organization, profit and nonprofit, government and non government. These students here are the only lot who usually carry more than 8-10 years of working experience as compared to regular MBA students. Considering the popularity of the EMBA programs, the Executive MBA council came into existence in 1981 for enhancing executive education.

   Distance Learning MBA – Online MBA

   This the most widely acclaimed, popular and flexible program. Here the classes are conducted off campus. A variety of learning patterns and formats make it more famous. Enlisted are some of them:

   • Correspondence courses by postal mail or email
   • Live teleconference or videoconference
   • Non-interactive broadcast video
   • Pre-recorded video

   Blended Education - MBA

   It is one of its kind education system where the distance learning and face to face learning are blended in a manner which meets the syllabus requirements; keeping the time line in mind. There programs are opted majorly by working professionals who face time constrains for attending regular full time or part time programs.

   Dual Degree - MBA

   These are the programs offering combined degrees. I.e. MBA combined with maybe a MA, MS or a Juris Doctor. Dual programs are known for its cost effectiveness. They considerably cost less as compared to attaining 2 degrees. The basic idea here is to save time and cost involved while attaining two separate degrees.

2. What are the admissions criterions?

   Usually MBA programs check for eligibility of students before admissions based on all, some or any of the following performances of the applicant:
   • Graduate Management Admission Test(GMAT)
   • Significant work experience as mentioned in the resume of the applicant
   • Educational records
   • Essays
   • References
   • Letters of recommendation.
   • Graduate Record Examination(GRE)

   Few schools might also show interest in knowing the interest and involvement at extracurricular activities in order to assess the applicant’s contribution in future to develop the school's diversity and do value addition to the student body as a whole. The process and belief of consideration and prioritizing the aforesaid qualifications tend to vary from institute to institute. One may come across schools which do not pay due regards to GMAT scores and some online MBA programs which do not require GMAT as eligibility for getting admission. Some schools show the tendency of accepting work experience instead of undergraduate degree.
   
   Institutes too have their own set targets for balancing the crowd and managing the funds. This leads them to make decisions with regards to male-female ratio and local-international student ratios.
   
   Program dynamics like type and length of work experience may prove to be crucial aspects for admissions. A few of the programs demand five or more years of work experience to be eligible to get admissions.
   
   Recent mantra which has flourished is Do MBA without GMAT. Students have started looking out for MBA universities in USA without GMAT or best online MBA no GMAT required. This happens to be a revolutionary decision by the authorities and stake holders in education filed.

3. What are MBA Program components?

   Any of the MBA program has two main components. Core courses in the initial days of the program and elective courses which allows subject specialty or focused approach of students.
   Core courses are fundamentally regular. Further assignments in research methodology are lead by a dissertation or thesis. Some programs show the flexibility and allow students to take up Major Projects.
   1. First Year
      • Students obtain analytical tools required for educational learning pertaining to key management functions
      • Operational awareness of these functions.
   2. Second Year
      • In this phase students learn a specialized syllabus. “Business stratagem”; here the key factors are combined and included and presented as a thesis course. It has been observed that syllabus on topics covering business ethics is included at institutes in the first, second or both the years.

   Analytical	Functional	Specialization
   Accounting	Financial management	Entrepreneurship
   Economics,	Human resource management	Finance : Corporate finance and investment management
   Operations Research	Marketing management	International business
   Organizational behavior	Operations management	Management information systems
   Statistics		Management science
   		Marketing
   		Operations management
   		Organizational design
   		Project management
   		Real estate
   		Risk management and strategy

4. Various types of MBA degree titles with description

   Widely known graduate business degree titles with description

   GRADUATE BUSINESS DEGREE
   Title	Description
   Master of Accountancy (MAcc or MAcy)	Postgraduate degree in accounting
   Master of Professional Accountancy (MPA, or MPAcc)	Postgraduate degree in accounting
   Master of Bioscience Enterprise (MBioEnt)	Postgraduate degree focussed on the commercialisation of biotechnology
   Master of Commerce (MCom or MComm)	Postgraduate business degree usually focused on a particular area
   Master of Economics (M.Econ.)/M.Ec.)	Postgraduate degree in Economics
   Master of Enterprise (MEnt)	Postgraduate, technology & enterprise-based qualification
   Master of Finance (MFin)	Postgraduate degree in finance
   Master of Health Administration (MHA)	Postgraduate health administration degree
   Master of International Business (MIB)	Postgraduate degree focused on International Business
   Master of Management (MM)	Postgraduate business degree
   Master of Marketing Research (MMR)	Postgraduate degree focusing on research in the field of marketing
   Master of Nonprofit Organizations (MNO or MNPO)	Postgraduate degree for philanthropy and voluntary sector professionals
   Master of Project Management (MSPM or MPM)	Postgraduate project management degree
   Master of Public Administration (MPA)	Postgraduate public administration degree
   Master of Real Estate (MScRE)	Postgraduate degree focusing on real estate
   Master of Science in Management	Postgraduate business degree
   Master of Social Science (MSS)	Postgraduate degree
   Masters of Management: Co-operatives and Credit Unions	Postgraduate degree for co-operative and credit union managers
   Technology Management Masters of Business Administration (TMMBA)	Postgraduate degree for managing technology businesses
   EXECUTIVE
   Title	Description
   Executive Master of Science in Business Administration (Executive MScBA)	postgraduate degree focusing advanced-level conceptual foundation in a student’s chosen field such as operational excellence in the biotech/pharma industry.
   DOCTORAL
   Title	Description
   Doctor of Business Administration (DBA)	Doctorate in business administration
   Doctor of Education (EdD)	A PhD equivalent doctorate program
   Doctor of Management (D.M.)	Doctorate in business management
   PhD in Management (PhD)	Business doctoral degree
   D.Phil in Management (D.Phil)	Doctorate in business

How to choose the appropriate MBA program?

• Select may be a full-time, part time or an online program which fits your timetable. Individuals who are looking forwards to work full-time and pursue an MBA degree hand in hand – part time programs or evening programs may be the right fit. Executive MBA programs also serve well but do not comprehend as regular MBA programs. A few of the online programs are designed for those who are not able to attend regular classes physically.
• Specialization in finance, Marketing or Entrepreneurship; happens to be the next step. It will need additional classes offering all rounder education for that particular subject. Visualizing your future goals and deciding on the work of interest also is crucial. Individuals inclined towards numbers may opt for finance, candidates interested in owning a business may go for entrepreneurship.
  
  Career seeking post a graduate degree should be envisaged. Marketing executives need to select specialization in marketing, whereas specialization in Finance or Management would lead you to becoming a CEO or a CFO.
• Students are advised to look out for schools offering programs which are strong enough to give your specialty a boost. All the MBA programs are not designed to provide specialization to all your subjects. Health care admin happens to be a specialization not been entertained by lot of schools.
  1. Intense research of the MBA programs is suggested. One may consider picking up programs which are highly ranked and termed prestigious; leading to considerable number of graduates in top management companies in the U.S. Cost of attendance and fitment in your budget should be given adequate importance before making a decision. Most of the private schools may cost more as compared to public universities.
  2. Location preference also needs to be factored in. One may find at least one school with all your prerequisites in near vicinity. While one selects a school; the city of the school should be considered. Individuals planning to study finance followed with internship at Wall Street…Yes…New York City would be the best option.
  3. The detailed description about the size of class, incoming median GPA – GRE- GMAT scores, range of student age and sex is called Class profile which is normally published online for aspiring students as a component of MBA program description. Advice is to select minimum one MBA program where your scores of GMAT and GPA, meet or are above the requirements and one program in the school you are seeking where your scores either meet or are lower than the requirements. This will help one assess the scopes of getting into a program and school of choice.
  4. Visiting the school admission counselor helps as a great idea. Feeling the campus atmosphere, knowhow of the neighborhood and surroundings would help you make a decision. Checking out dorms in the hostel and rented facilities is a good option for those who are moving away to attend school. A thought process which can help your Career Research, Career Development and Career advancement is the need of the hour.

What are the advantages of MBA?

We were been taught in the school “Look before you leap” and if that was for small causes; this happens to be the decisive moment of an individual’s future. Considering the advantages and disadvantages of getting into a MBA program is a better idea.

How to Get an MBA Degree?

Word "Common" is frequently used for MBA as a prefix. Common fix for all requirements, common for all fields, common for all industries and so on. But attaining the MBA degree is not a common man’s goal; instead it happens to be a very important and crucial decision of an individual’s life. A degree program offered that is offered by a lot of universities and colleges across country. The process may tend to differ slightly from institute to institute.

1. Completion of undergraduate education is mandatory but taking up a business degree at undergraduate level is not mandatory in order to get admission for MBA degree. Usually MBA programs seek students from diverse backgrounds and varied work experience. This helps the institutes in providing versatile degree holders to the market increasing their credibility and success ratio. For traditional business degree routes.
2. A few of the business schools have two years of work experience as a prerequisite for admissions. Hence it is advisable to check out on such requirements well in advance and start working towards gaining experience for two or more years. This ensures the successful consideration of your application by business schools.
3. Sincerely study and take the GMAT – Graduate Management Admissions Test as this is one of the factors considered by MBA programs while considering individuals for admissions.
4. Evaluate and give a thought to your so called reasons for selecting a MBA degree. The careers thought of and life goals can act as motivators and help you in deciding the schools you would want to apply for the admission. Business schools may have their own designed subject specialties or it may be a general business management.
5. A predefined approach towards the concentration or specialization will help you to apply.

How to prepare for MBA entrance exam?

Graduate Management Admission Test is the exam considered as admission test for nearly all MBA institutes in the United States of America. It is one of the renowned best forecaster of success for graduate business programs. This entrance exam mainly evaluates logical and reasoning subjects, organized forecast and groundwork; of course. Well prepared candidates with a knowhow on handling verbal, mathematical and analytical writing questions tend to score more as these are the basics on which they are tested on.

1. Regularly studying preparation materials will lead you to the exam date. Try and attend study groups and taking up prep courses. One can also take assistance from official MBA exam preparation books. Cramming up will not be a good idea; instead studying consistently over a period of time will enhance your remembrance skills to help you do better at the exam.
2. Downloading the free of cost training software from MBA.com is also a useful idea. It comprises of two full-length test and assessment segments to test your skills.
3. Get well acquainted with the test format of GMAT. The test is one of its kinds and is computer adaptive. Here the questions will tend to be a bit difficult initially followed by easier ones if you answer wrong and tough if you answer correctly. Tough question are ranked high if answered correctly. Randomly asked questions will not allow you to rectify the answers once submitted.
4. Self assessment also helps. Creating a test taking surrounding and writing up a full length trial test in an isolated location free of diversion would give you the correct picture of the areas of improvement. Go to the extent of avoiding food breaks and talking to anyone till the time you finish your paper. Coach yourself and your mind to attain the timelines in which the question paper needs to be concluded.
5. The examination tenure is of 03 hours and 40 minutes which includes a five minute optional break. There is a penalty for incomplete papers and hence it is advisable to answer incorrectly instead of not answering.
6. Arithmetic, Algebra and Geometry – solve the questions at maybe a free online open source or with the help of a review guide at the official website may do lot more help than anything else. Practice using the scrap paper as you will be doing on the day of exam and also make sure to practice more and more objective questions; yes..It is more likely that you would get objective questions at your GMAT exams and not lengthy questions. Graphs – Line, circle and Bar graphs as these are amongst the usually asked questions in the exam paper.
7. One can conduct analysis of argument and issue questions from the official MBA website as they are amongst the weighted components of the exam paper. Smart work here would be to think and get mentally prepared for answering the type of questions and not trying to attempt all the questions. This exercise would helps to get a fair idea of the type of questions one may encounter in the GMAT exam paper.
8. Practice grammar for the enlisted through a online open source resource or GMAT prep guide:
   • Among versus Between
   • Elliptical verb phrases
   • Fewer versus less
   • Misplaced modifiers
   • Parallel sentences
   • Pronoun-subject
   • Run-on sentences
   • Subject-verb agreement
   • Uses of adverbs and semi-colons
   • Verb tenses
   • Who versus Whom
9. Ensure to understand the question appropriately before answering and for this if required; read the question twice, but keeping in mind the timelines.
10. Conceptual reading may comprise of three main subjects; Business, Social Science and Science and will be mainly in the form of tone, factual, main idea or inference. This the segment where one is supposed to read an essay and answer the questions related. Preparing notes on the scrap paper while reading the essay is recommended which will help you with details while answering the questions and you do not waste time reading the essay finding for particular details while answering particular questions.

How to Calculate the ROI on MBA Program?

To reemphasize on the fact stated above; that taking up an MBA program from an appropriately reputed and accredited institute may cost a fortune. Now once the initial formalities is done; it would be a smart move to calculate the ROI – Return on investment. This is done in order to assess the break even and also to make sure that your income is more than what you have invested in making yourself sellable and skilled.

• Cost of degree: Calculate your total expenses for a year on tuition fees and book. Multiply it with the number of years it took to get you the degree.
  ($15000 per year * 2 years = $30,000)
  * Do not consider food and boarding charges. One would end up paying for it even though he/she is not taking up the degree.
  
• Loss of Pay: For professional’s continuing their education may have incurred a loss by leaving their jobs for going back to school
  ($40,000 per year salary * 2 years = $ 80,000)
  
• Add A + B; which will give you your total investment to attain the degree.
  ($ 30,000 + $ 80,000 = $ 110,000)
  
  
• Salary Hike: On completion of the MBA; you may get a salary hike. I.e. your MBA degree fetches you a $110,000 profession then you might end up making $ 70,000 extra earning per year than your previous employment.
  ($ 110,000 - $ 40,000)
  
  
• Investment Tenure: Establish the tenure of investment. Say if you have been working since 5 years then take in consideration this tenure to be 5 years.
• Calculate Salary: Count the number of years you have been working and the salary you could make with the MBA Degree, a total of $ 350,000 in 5 years.
  (Working since 5 years * $ 70,000 per year)
• Deduct the Investment: In order to assess profits made due to the MBA degree; deduct the total investment from the total expected gain which equals $ 240,000 in this case.
  ($ 350,000 - $ 110,000 = $ 240,000)
  
  
• To attain ROI percentage one needs to divide the total profit (G) by total investment (C). The result needs to be multiplied with 100 to get % which is more than 200% in this case.
  ($ 240,000/$ 110,000 * 100)

* This is an illustrated calculation which may tend to change on the basis of state, Institute, degree program selected and Job market scenario.