Everything you need to know about getting an MBA 

So, you’ve decided the time is right to pursue a Master of Business Administration (MBA). Whether you want to grow your earning potential, prepare for new opportunities or simply develop your skills as a leader or manager, an MBA can offer you opportunities that may not exist for those with only a bachelor’s degree.

There are multiple pathways to an MBA for professionals, from traditional tracks at “brick-and-mortar” universities to flexible, online MBA degree programs that allow you to balance work and life with your education. Let’s walk through everything you need to know as you explore this pathway.

What is an MBA? 

An MBA is a graduate degree that many professionals use to prepare them for career growth. The degree program typically emphasizes leadership, management and marketing skills, with courses in MBA programs focusing on critical thinking and effective management practices.

MBAs are valuable credentials that are often helpful to those who want to enhance their knowledge and potential. But what’s the best way to get an MBA, and how long does it take?

1. Earn your bachelor’s degree 

The first step toward an MBA is having an appropriate undergraduate degree. While most MBA programs don’t require a specified field of study for a bachelor's degree, backgrounds in business, finance or economics provide a solid foundation for further study. However, the MBA-competency based program at UOPX does require a business-related bachelor’s degree.

2. Gain relevant work experience 

Work experience isn’t just a crucial part of MBA admission, but a sign that you can fully engage with course content. Having at least two to five years of professional experience can help prospective MBA students better understand and interact with an MBA program, but that’s not necessarily a requirement unless pursuing a competency-based MBA program. For those who want to pursue a self-driven, competency-based MBA program, that preexisting experience is critical for demonstrating mastery.

3. Prepare for and take the GMAT or GRE 

While University of Phoenix does not require GMAT or GRE scores for admission, some MBA programs do. Preparation and scoring well on these tests can help you assess whether you’re ready for the rigors of a graduate program.

4. Research MBA programs 

Research potential MBA programs early to understand their requirements and how each program may fit within your priorities. Consider the following aspects:

• Program curriculum
• Faculty expertise
• Culture
• Location
• Alumni networks
• Career services support

When considering an MBA program within the context of your professional goals, think about whether you are pursuing it to meet a requirement for a specific position or for other reasons. Think about whether you plan on attending classes in person, or if an online degree program would make more sense for your lifestyle. Finally, decide whether you want to pursue your degree on a part- or full-time basis.

5. Obtain relevant documents 

What do MBA programs look for?

Depending on the institution, you’ll likely need to have several items in hand as you apply to MBA programs. These are:

• Official undergraduate transcripts
• Letters of recommendation
•  Application essays
• GMAT or GRE test scores

One school that won’t ask for test scores, letters of recommendation or application essays? University of Phoenix. 

6. Apply to appropriate MBA programs 

Once you have the required information in hand, it’s time to apply to the MBA program or programs of your choice. University of Phoenix offers a flexible, simple admissions process that doesn’t rely on test scores or application essays. Enrollment counselors will even help request your prior transcripts.

7. Choose a school and prepare for enrollment 

After you’ve applied and been accepted to the MBA programs of your choice, it’s time to decide. Complete the enrollment process at your chosen school and prepare for the experience by speaking with academic counselors.

8. Balance your coursework with your existing commitments 

Starting an MBA program is only one step. Whether you choose to go with a traditional MBA, pursue an online degree or tackle a competency-based program, you’ll need to balance your schoolwork with your existing commitments. 

How long does it take to get an MBA? 

How long it takes to earn your MBA largely depends on several factors, such as the type of degree you pursue. Traditional MBA degrees generally take up to two years. Competency-based programs can be completed in as little as 12 months. As always, your own experience will depend on the number of classes you’re able to take and how much time you can dedicate to your education.

Professionals who want to earn two master’s degrees at once may need more time. The MBA is sometimes combined with other relevant master’s programs for an enhanced experience, as with UOPX’s MHA/MBA dual degree program. This offering combines a Master of Health Administration with an MBA; students can complete it in as little as 27 months. This program can prepare individuals for a rewarding career in healthcare administration.

Benefits of earning an MBA 

Discovering the potential benefits of earning a graduate degree goes far beyond simply asking what you can do with an MBA. Key advantages for learners include:

• Increased salary potential
• Possible leadership opportunities
• An expanded professional network
• Improved communication skills
• Enhanced professional skills
• Increased credibility among peers and superiors
• Personal growth

Earning an MBA isn’t just about making more money or obtaining promotions, though. It’s also an excellent way to experience personal growth and meet new people. An MBA’s profound, far-reaching impact is one of the best investments you can make in your education, especially if you want to become a stronger manager or entrepreneur.