Job prospects for all areas of business and administration are bright, but competition is keen for the best careers. An advanced degree in business puts the competition far behind and gives you the freedom to pursue high salaries, management responsibility, or even your own business as a consultant or entrepreneur. Whether you like working with numbers, working with technology, or working with people, an MBA, master of business, or PhD degree in business gives you the educational background you need to succeed.
It's important to request information from four or five graduate schools of business before making your final decision. If you'll be living near campus, community becomes a top priority—job prospects for adults in the family, schools for the kids, even the climate can affect your graduate school experience. If you'll be attending business school online, compare each college's support networks—career counseling, virtual library access, grading policies, accreditation, and faculty credentials. Either way, choosing the right business school to get your master's, MBA, or doctoral degree in business should involve some research and comparisons.
The most common graduate degree for business careers is the MBA. Nearly any type of undergraduate degree is complemented by a master's of business administration because you're well-equipped to handle the business side of your future career. A master's degree in business expands your education and enhances your career options because you're specializing in a particular field of business. For people interested in teaching business courses or conducting in-depth research for corporations or the government, a DBA (doctorate of business administration) or PhD is the top educational achievement. When you contact business colleges to request enrollment information, ask if your educational background and career experience would benefit from getting an advanced degree.
Most fields of business—especially accounting, banking and finance, management and marketing—are expecting much better than average job growth in the next ten years. Corporations and small businesses are stepping up their search for highly educated, certified professionals. An advanced degree in business prepares you for licensing exams, too. MBA degree graduates find that a variety of skills helps them search a broad job market. For graduate students who have been in the workforce for a while, going back to school to earn an MBA or master's degree updates their skills and may lead to promotions, higher salaries, or an entire career change. It's interesting to note that about one-quarter of business school graduates are self-employed as consultants and entrepreneurs—they set their own fees and manage workloads around other priorities in life. The job outlook for business school graduates is very bright.
If you're working on an MBA, you'll take a broad range of courses toward the degree before specializing in a particular branch of business. Accounting, entrepreneurship, business ethics, management, leadership and so on are taught in almost every business college. Master's degree and doctoral degree students conduct research and study their chosen fields intensively, often participating in internships and fellowships. Online business college students typically take one course at a time until they graduate with their degrees, and business courses are ideally suited to online learners. Expect to cover both broad topics and in-depth topics as you explore the fascinating world of business.