Especially for you – the eager, ambitious professional who’s hesitating about whether taking an MBA is the move that’ll propel your professional ambitions, today we’ve compiled a list of the questions we get the most about MBAs. Enjoy!
1. Is an MBA worth it?
It depends. Taking an MBA will help you make more money and will pay off in terms of personal and professional growth if – and only if – you choose a recognized program at a renowned institution that doesn’t saddle you with an impossible debt and if you make the most of every single opportunity to learn, develop your soft skills, network, and implement your post-graduation life plans.
2. How much does an MBA cost?
MBA price tags vary widely across the globe: such a program is clearly much more expensive in the US than in Europe, where even postgraduate education tends to be somehow subsidized by taxpayers. The most expensive MBA programs in the market can reach almost 200.000 USD in tuition fees alone. In Europe, tuition fees average somewhere between 20.000 and 80.000 euros.
Recommended: How to approach your employer to finance your MBA
3. Can someone who never studied Management get an MBA?
MBAs are open to applicants with all kinds of academic backgrounds. However, since an MBA is a Master’s degree program, you must have a Bachelor’s degree in any area to apply.
4. Is it possible to get an MBA without the GMAT?
Mastering Mathematics applied to Management is a non-negotiable MBA entry requirement. In Europe, you’ll be asked to take the GMAT and obtain a minimum score that varies from business school to business school. As an alternative, especially in the US, you can take the GRE or sit for an admissions test. For more experienced professionals, schools also accept the relatively recent (and easier) Executive Assessment.
5. I’m an entrepreneur. Should I get an MBA?
Unlike consultants or advisors, whose work is ultimately vouched by others, entrepreneurs must create business plans and practices, teams, and partnerships from scratch. If they aren’t investing their own money in their ideas, they must also find investors who believe in them. The contacts and experience they may get through an MBA may be precious, as may the knowledge and skills entrepreneurs need to become businessmen and women. There are MBA programs more suited to entrepreneurs than others, and you should check them out to verify that they make sense for you at this particular point in your life.
Recommended: Meet three classical types of MBA applicants
6. Does an MBA guarantee employment?
No. In today’s market, nothing guarantees employment. But it does help, especially if you don’t rely exclusively on the MBA brand to land that dream job. You should pay attention to geographic trends: employers look for MBAs more in certain regions of the globe at any given moment, and these trends shift according to economic cycles. Finally, be mindful that most experts agree that an MBA is a particularly effective route towards fulfilling employment for those who wish to hold managerial positions (regardless of industry or sector).
7. Are all MBAs in English?
No. Most European countries have MBA programs in their national languages. Yet you should be aware that you must be proficient in English if you wish to succeed in the business world, so if the language poses problems for you, consider taking an intensive business English course even if you choose a program lectured in your native language.
Recommended: English language tests for MBA applicants
8. What is the best MBA?
While the lingering power of brands such as HBS is undeniable, our advice is that you focus on the MBA that’s right for you; shop around and think about what you need and want!
More questions? Feel free to download our free ebook below.
