Mba School |BEST|
Chicago Booth is a global business school with a strong, collaborative, and impactful alumni network. Our alumni are leading businesses across the world. In addition to hosting global events such as Global Booth Night, alumni have access to supportive alumni clubs and organizations.
Each semester, you have the flexibility to choose from fully online asynchronous courses, in-person evening classes at Miami's Voice of America Learning Center in West Chester, or a hybrid option that combines both formats. The delivery format you choose will provide you with the flexibility you need to create a balance between work, school, and personal obligations. This ensures you stay on track to quickly earn your MBA even if your schedule or life circumstances change. You can earn your MBA part-time in as little as two years or take up to five years if you want more time.
There are a number of factors that can influence the amount of money you can anticipate earning after getting your MBA, including area of industry, job location, the school you graduate from, and years of experience.
It was a good opportunity to create a school-wide association - not just within the MBA - and offer a new perspective for classmatesMost students only know Emric Navarre from the way he led the class through the first months of the COVID-19...
The MBA is a terminal degree, and a professional degree. Accreditation bodies specifically for MBA programs ensure consistency and quality of education. Business schools in many countries offer programs tailored to full-time, part-time, executive (abridged coursework typically occurring on nights or weekends) and distance learning students, many with specialized concentrations.
The first school of business in the United States was The Wharton School of the University of Pennsylvania established in 1881 through a donation from Joseph Wharton. In 1900, the Tuck School of Business was founded at Dartmouth College conferring the first advanced degree in business, specifically, a Master of Science in Commerce, the predecessor to the MBA.
Business school or MBA program accreditation by external agencies provides students and employers with an independent view of the school or program's quality, as well as whether the curriculum meets specific quality standards. Currently the three major accrediting bodies in the United States are:
All of these groups also accredit schools outside the US. The ACBSP and the IACBE are themselves recognized in the United States by the Council for Higher Education Accreditation (CHEA). MBA programs with specializations for students pursuing careers in healthcare management also eligible for accreditation by the Commission on the Accreditation of Healthcare Management Education (CAHME).
Accreditation agencies outside the United States include the Association of MBAs (AMBA), a UK-based organization that accredits MBA, DBA, and MBM programs worldwide, government accreditation bodies such as the All India Council for Technical Education (AICTE), which accredits MBA and Postgraduate Diploma in Management (PGDM) programs across India. Some of the leading bodies in India that certify MBA institutions and their programs are the All India Council for Technical Education (AICTE) and the University Grants Commission (UGC). A distance MBA program needs to be accredited by the Distance Education Council (DEC) in India. The Council on Higher Education (CHE) in South Africa, the European Foundation for Management Development operates the European Quality Improvement System (EQUIS) for mostly European, Australian, New Zealand and Asian schools, the Foundation for International Business Administration Accreditation (FIBAA), and Central and East European Management Development Association (CEEMAN) in Europe.
Full-time executive MBA programs are a new category of full-time one year MBA programs aimed at professionals with approximately five years or more. They are primarily offered in countries like India where the two-year MBA program is targeted at fresh graduates with no experience or minimal experience. These full-time executive MBA programs are similar to one year MBA programs offered by schools like Insead and IMD.
Distance learning MBA programs hold classes off-campus. These programs can be offered in a number of different formats: correspondence courses by postal mail or email, non-interactive broadcast video, pre-recorded video, live teleconference or videoconference, offline or online computer courses. Many schools offer these programs.
MBA dual degree programs combine an MBA with others (such as an MS, MA, MEng, or a JD, etc.) to let students cut costs (dual programs usually cost less than pursuing two degrees separately), save time on education and to tailor the business education courses to their needs. This is generally achieved by allowing core courses of one program to count as electives in the other. Some business schools offer programs in which students can earn both a bachelor's degree in business administration and an MBA in five years.
Mini-MBA is a term used by many non-profit and for-profit institutions to describe a training regimen focused on the fundamentals of business. In the past, Mini-MBA programs have typically been offered as non-credit bearing courses that require less than 100 hours of total learning. However, due to the criticisms of these certificates, many schools have now shifted their programs to offer courses for full credit so that they may be applied towards a complete traditional MBA degree. This is to allow students to verify business-related coursework for employment purposes and still allow the option to complete a full-time MBA degree program at a later period if they elect to do so.
Many programs base their admission decisions on a combination of undergraduate grade point average, academic transcripts, entrance exam scores (for example, the GMAT or the GRE test score), a résumé containing significant work experience, essays, letters of recommendation, group discussions, and personal interviews. Some schools are also interested in extracurricular activities, community service activities, or volunteer work and how the student can improve the school's diversity and contribute to the student body as a whole.
The Graduate Management Admission Test (GMAT) is the most prominently used entrance exam for admissions into MBA programs. The Graduate Record Examination (GRE) is also accepted by almost all MBA programs in order to fulfill any entrance exam requirement they may have. Some schools do not weigh entrance exam scores as heavily as other criteria, and some programs do not require entrance exam scores for admission. In order to achieve a diverse class, business schools also consider the target male-female ratio and local-international student ratios. In rare cases, some MBA degrees do not require students to have an undergraduate degree and will accept significant management experience in lieu of an undergraduate degree. In the UK, for example, an HND (Higher National Diploma) or even HNC (Higher National Certificate) is acceptable in some programs.
MBA admissions consulting services exist to counsel MBA applicants to improve their chances of getting admission to their desired Business Schools. These services range from evaluating a candidate's profile, GMAT preparation, suggesting the schools to which they can apply, writing and editing essays, conducting mock interviews as preparation for MBA admission interviews, as well as post-MBA career counseling.
In 1957, INSEAD (French name "Institut Européen d'Administration des Affaires", or European Institute of Business Administration) became the first European university offering the MBA degree, followed by EDHEC Business School and Antwerp Management School in 1959 and ICADE in 1960 (who had started offering in 1956 a "Technical Seminary for Business Administration"), ESADE and IESE Business School (first two-year program in Europe) in 1964, UCD Smurfit Business School and Cranfield School of Management in 1964, Manchester Business School and London Business School in 1965, Trinity College Dublin, the Rotterdam School of Management in 1966, the Vlerick Business School in 1968 and in 1969 by the HEC School of Management (in French, the École des Hautes Études Commerciales) and the Institut d'Etudes Politiques de Paris. In 1972, Swiss business school IMEDE (now IMD) began offering a full-time MBA program, followed by IE Business School (in Spanish, Instituto de Empresas) in 1973, and AGH University of Science and Technology in Cracow, Poland in 1974. In 1991, IEDC-Bled School of Management became the first school in the ex-socialist bloc of the Central and Eastern to offer an MBA degree.
Accreditation standards are not uniform in Europe. Some countries have legal requirements for accreditation (e.g. most German states), in some, there is a legal requirement only for universities of a certain type (e.g. Austria), and others have no accreditation law at all. Even where there is no legal requirement, many business schools are accredited by independent bodies voluntarily to ensure quality standards.
In Austria, MBA programs of private universities have to be accredited by the Austrian Accreditation Council (Österreichischer Akkreditierungsrat). State-run universities have no accreditation requirements, however, some of them voluntarily undergo accreditation procedures by independent bodies. There are also MBA programs of non-academic business schools, who are entitled by the Austrian government to offer these programs until the end of 2012 (Lehrgang universitären Charakters). Some non-academic institutions cooperate with state-run universities to ensure the legality of their degrees.
In Finland, Master of Business Administration degrees are awarded by business schools of Aalto University, Hanken, University of Turku, University of Vaasa and University of Oulu. In Finnish this degree is called kauppatieteiden maisteri. Universities of applied sciences award degrees which in Finnish are called tradenomi (YAMK) but use the same English title "Master of Business Administration" as the ones awarded by business schools. Both degrees are recognized as higher education degrees in Finland, yet only the business school graduates are typically referred as "masters". 041b061a72