stmWould you like to obtain an MBA? How about doing it with a Scholarship? Sounds good and attractive right? In this article, you are going to be learning about how to study MBA in USA with scholarship.
An MBA as it is popularly called is a Master’s in Business Administration or a Masters of Business Administration. It is a graduate degree that focused on Fields like investment management and business administration.
MBA is both a professional and a terminal degree. In the United States, MBA programs require completion of about 40 to 60 credits, and about 60 to 90 in a quarter system.
MBA program core courses covers Business Administration areas such as; business strategy, business ethics, managerial economics, business communication, marketing, entrepreneurship, strategic management, human resources, operations management, applied statistics and so on.
Benefits Of Studying MBA In The US
Is it worth it going for an MBA? Are there benefits getting an MBA offers to one’s career, business, and life in the long run. The answer is an emphatic yes without an iota of doubt.
Having an. MBA offers quite a whole lot of benefits. It is worth all the time, energy and attention it needs, especially if your plan is to work in a business related field. In this part of the article, we are going to be looking into the benefits of having an MBA in your kitty. You are going to see that obtaining an MBA is a journey that is worth embarking upon. Let’s go there, shall we?
- Increase In Your Earning Potential
We sometimes work for fulfilment, purpose and interest, good, but primarily, the goal for many is to make money, and good at that. Having an MBA improves your Earning Potential. Study shows recently that employee’s earning is 50% higher after obtaining an MBA as opposed to the time before obtaining. In other words, if you want a fatter paycheck, MBA can get you that.
- Greater Job Security
With an MBA in the bag, your job security level increases. You become someone that gets more difficult to just ditch aside with a slip of the finger. An MBA fetches a sort of prestige and honor that makes you a force to be reckon with on the corporate world
- Your Perspective about the World Expands
Going through the process of getting an MBA will greatly broaden your enterprise knowledge and give you a better understanding of the nuances of the global market place operations. It gives you a better perspective, better view of the global market.
- You Develop Advanced Level Management Skill
With an MBA, your management skills is surely not at the level it used to be before it anymore. Now it’s better advanced and you are better ready to handle management situations that might be classified as being beyond your pay grade before you got an MBA.
You would have developed skills to make the company successful. Such skills may include but not limited to leadership skills, crisis management skills, company image maintenance skills, setting up efficient hierarchical structure and so on.
- Access To Networking Opportunities
During the course of your MBA, unprecedented doors of networking opportunities can be opened for you. Business people with great experience, fellow students, professors, and so on are some of the caliber of people you will be fortunate to meet with during your MBA. This people can really impact and expand well your business management capabilities.
- MBA Even Though Challenging Is Not Difficult To Graduate
Even though the process of obtaining an MBA can be somehow challenging, graduating in the discipline is not that a difficult task to do. MBA can even be taken online part time and completed successfully.
These are some of the benefits of obtaining an MBA. If these benefits look attractive to you, then you should think about obtaining an MBA I’m case you have not done so yet.
These are some of the benefits of obtaining an MBA. If these benefits look attractive to you, then you should think about obtaining an MBA I’m case you have not done so yet.
Requirements, Eligibility Criteria For Studying MBA In USA
Having found obtaining an MBA attractive, the next thing that may come to mind is how you can obtain one. You sure know there are rivers to cross on your way to adding an MBA to your CV.
One of those rivers to cross is the eligibility requirement that you must meet in order to qualify for studying to obtain an MBA. If you are planning to obtain an MBA in the US, you are going to get information about the requirements and qualification demand of the program in this section:
- You must possess a 4 year bachelor’s degree from an accredited institution in the US or its international equivalent of you are an international student possibly
- A working experience that spans between minimum of 1 to 2 years. This is dependent on your responsibilities
- Two letters of professional recommendation are required
- You must submit personal statement
- You must submit your resume
- You need to supply Proof of English proficiency. The most commonly required ones are Test of English as a Foreign Language (TOEFL) with minimum score of 550 to 600 for paper based, 213 to 250 for computer based test, and International English Language Test (IELTS).
- GMAT is also required and is probably the most important. Score must be over 600
- Note; some of the business schools available in the nation may accept candidates that has no work experience. However, they will first give priority to those with work experience first, even interns.
These are the requirements and eligibility criteria needed to qualify to study to obtain MBA in most schools in the US and even in Europe.
How About The Financial Cost Of Obtaining An MBA?
We are getting close to the main purpose of this piece now. Having known this much about the MBA and the benefits it offers, the next possible source of worry or roadblock on your part to the program can be the issue of finances.
Perhaps you are thinking of your inability to be able to finance the program. Perhaps you are thinking of how deep it would eat into your pocket and worrying about it even though you can be able to carry the programs financial burden by yourself. Perhaps you detest obtaining student loans and wouldn’t want the debt sword of Damocles hanging around your neck.
There is a way out for you, and the way is Scholarship. A scholarship can totally erase all the financial issue that may want to rear its head on your journey to your MBA.
How Do I Obtain A Scholarship To Study For My MBA In The US?
Scholarships for studying in the US are not scanty for any type of discipline. There are numerous options available, both for resident and for international students, depending on the one that applies to you
So what are the steps to be taken to obtain a scholarship with which to complete your MBA?
Here are the steps;
Read about the Scholarship offers/ options Available
First step is to research around, especially online about the available scholarship offers for MBA applicants. Some examples of the best available Scholarship openings for MBA seekers in the US includes;
- Forté Fellowship Women MBA scholarship
- NBMBAA Graduate Scholarship Program
- Scholarships at INSEAD
- NBMBAA Graduate Scholarship Program
- Prospanica – The Association of Hispanic Professionals Foundation Scholarship Program
- Women MBA scholarships at Esade
These are a few of the scholarship options available online for MBA students. Some of these Scholarships are for the general public, while some are segregated for some set of people.
Apply for them
The next step after you have researched about available MBA Scholarship options is to apply and follow the necessary directions, make sure the requirements of the scholarship(s) for which you are applying are fulfilled. Do not put in for scholarships whose requirements you did not meet up with.
There are many options open for you than to waste time and energy on one that has no chance of working out at all.
Final Words
These are the steps to take to obtain a scholarship with which to study MBA in the US. And this is where we call it a day in this piece. Sure you have a grasp of how to study MBA in USA with a scholarship now.
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