What is an MBA degree: Everything you should know

A Master’s in Business Administration (MBA) is highly pursued by international students with a sense of interest and passion for business studies. Hundreds and thousands of students travel to different parts of the globe to study the course. With the higher education sector growing rapidly, many students consider pursuing their MBA in top study destinations. This article will give you in-depth knowledge and understanding of an MBA degree, its perks, eligibility criteria, top universities, courses, job opportunities, and so on.

Your dream to pursue an MBA abroad is just a click away! Explore opportunities today!

Studying MBA courses abroad: Key highlights

Course type - Full-time, online, flexible

Program type - Full-time, part-time, executive

Course duration - 1-5 years (Depending on the program type)

Course requirements - A student with an undergraduate degree in business administration or any related business courses.

Also read: Best study abroad destinations for international students

What is an MBA degree?

A business administration degree includes the study of the entire management of an organisation, helping students learn to manage a company’s workforce, time and resources and maintain smooth functioning.

Here are some factors you should know about an MBA degree.

• Business administration programs include a thorough understanding of different business operations.
• Students familiarise themselves with key areas like accounting, finance, business operations, marketing, HR, and others that assist in managing a company.
• Students learn about business functions and also improve their managerial skills. Some common skills include critical and strategic thinking, problem-solving, organisation, leadership, and others.
• An MBA degree levels up your profile during job hunts, attracting employers, and improving your chances of landing a high-paying job in the global market.
• An MBA degree in your desired destination helps you connect with peers and professors from various parts of the world.
• The international connections and exposure aid you in building a professional network with similar interests, adding value to your career.

Types of MBA programs

There are three types of MBA programs in the higher education sector. These courses are crafted to fit international students’ needs and interests. Here’s a detailed view of these courses.

Full-time MBA

• A full-time MBA lasts two years, spanning four semesters; year one includes the core subjects, while the final year focuses on the specialised topics students choose to pursue.
• This general business management degree is suitable for students who dedicate their time to pursuing higher education. They usually forgo their jobs to pursue a full-time MBA program.

Part-time MBA

• A part-time MBA program is similar to a full-time course, but students have a more flexible study schedule.
• These courses fit best for working professionals who cannot leave their jobs to pursue higher education. A part-time MBA helps students focus equally on their educational, professional, and personal lives.

Executive MBA

• An executive MBA program offers in-depth knowledge and education to people with managerial-level experience. The course curriculum and structure are similar to full-time and part-time MBAs, but the courses are offered in a condensed way.
• An executive MBA is structured for professionals with 10-15 years of management experience.

Also read: Best Countries for Students to Study and Work

Common MBA coursework

A general MBA degree has different management, business, and other subjects that equip students with knowledge and skills. Here are the common MBA courses and curriculum:

• Entrepreneurship
• Financial Management
• Operations Management
• Sustainability
• Human Resources Management
• Digital Transformation
• Business Communication
• Information Technology Management
• Management Science
• Marketing Research
• Economic Environment of Business
• Management Accounting
• The science of decision-making
• Marketing in a global environment
• Macroeconomics in a global context
• Corporate Governance
• Strategic Management
• Business Ethics & Corporate Social Responsibility

Also read: Which MBA specialisation is the best in the world?

Top MBA specialisations

Here’s a walkthrough of the top MBA specialisations international students prefer to choose while studying abroad.

• General Management
• Human Resource Management
• Entrepreneurship
• Business Analytics
• International Marketing
• International Business
• Financial Management
• Healthcare Management

Also Read: MBA in Canada for Indian Students

MBA General Management

General management includes the functioning, accounting, finance, marketing, human resource, and operational management of a business. Hands-on training and many other resources are part of these courses to upgrade students' skill sets and experiences to kick-start their careers.

MBA Human Resource Management

HR management is highly pursued by international students. They learn the essential components of an MBA HR through subjects like recruitment, employee relations, and organisational functioning within a company. Students also get an opportunity to develop their skills in human resource planning, management, relations, information systems, organisational behaviour, and others.

MBA Entrepreneurship

An MBA in Entrepreneurship explains the process of planning, starting, managing, maintaining, and growing a business by an individual or a small group of individuals. The courses help budding entrepreneurs understand the business process and work on their passions with ease.

MBA Business Analytics

An MBA in business analytics teaches students to utilise data, analyse, manage and develop business decisions suitable for the company’s growth. The courses portray businesses from a data-driven perspective. The course program includes various subjects like statistical analysis, operations management, and others for better understanding.

MBA International Marketing

International students passionate about marketing and business-related components choose to pursue an MBA in international marketing. Students learn about the principles, laws, and statistics of international marketing management, market research, consumer behaviour, and other aspects.

MBA International Business

International business involves a business’ study, analysis, and management in different markets. The courses help students develop creative ideas and strategies to enhance a business. They also track and adapt global trends, and explore different marketing areas.

MBA Financial Management

Financial management dives deep into a company's finance and management components. Students get to enhance their analytical, managerial, and statistical skills in business disciplines. Many universities also offer hands-on training, preparing students for a competitive business career.

MBA Healthcare Management

Healthcare management is an academic blend of business and healthcare studies. Throughout the course, students learn about the healthcare industry's structure, rules and regulations, finances, and other business aspects.

Also read: Study MBA in Finance in the UK

Eligibility criteria for international students pursuing MBA abroad

MBA programs abroad are highly competitive for international students to get admission to. Universities and business schools have pre-determined requirements to deem a student’s profile eligible. International students should remember the requirements and criteria vary with the study destinations, universities, and even course programs. Here are the common eligibility requirements to pursue MBA courses abroad.

MBA application requirements

• Education qualification: An undergraduate degree in BBA, a business-related, or other course.
• Work experience: Minimum two years in a relevant business field.

In addition to the common criteria, institutions also require scores in competitive and English proficiency tests. These scores are considered a mandatory requirement for international students. While the score requirement varies with every study destination and university, here are the common scores required to study MBA abroad.

Also Read: MBA in France | Best MBA Universities in USA

Best MBA colleges in the world

International students seek educational institutions abroad as studying MBA courses abroad comes with great perks.

Here are the top MBA colleges for international students to kick-start their academic journey abroad.

Top business school abroad

Data updated as of May 2024 | Source: QS

Best MBA colleges in the world: A detailed walkthrough

Stanford Graduate School of Business

QS Global MBA Rankings 2024 - 01

Acceptance rate - 4%

Average annual fees - USD $44,000

Stanford’s MBA program broadens your knowledge and mindset and aids in discovering your passion. The course encourages you to think boldly, learn creatively, and seek the finest opportunities in the job market. Stanford’s exceptional MBA program promises to redefine your career, equipping students with everything they expect from a course abroad.

University of Pennsylvania (Wharton)

QS Global MBA Rankings 2024 - 02

Acceptance rate - 7%

Average annual fees - Around USD $127,000

Wharton’s MBA programs are well-known for their unique course structure and flexibility. Students learn and understand the fundamentals of management, communication, leadership, and many others from a business perspective. International students prefer the Wharton Business School as the institution helps them realise their goals and passion and also boasts a high employment rate.

Harvard Business School

QS Global MBA Rankings 2024 - 03

Acceptance rate - 3%

Average annual fees - Around USD $75,000

Harvard’s MBA gives students a realistic perspective of general management. The course enhances your international exposure and boosts your peer network, along with offering world-class education. The courses also pave the way for fantastic job opportunities, and over 50% of Harvard’s MBA graduates become entrepreneurs.

London Business School

QS Global MBA Rankings 2024 - 04

Acceptance rate - 25%

Average annual fees - Around USD $145,000

London Business School’s MBA program helps in obtaining a global peer and faculty network, enhancing your thinking and problem-solving skills, and preparing you for a challenging business career ahead. London is a business hub, increasing your chances to dive deep and gain experience in the sector and learn more about the specialisation that suits your interests.

HEC Paris

QS Global MBA Rankings 2024 - 05 

Acceptance rate - 11% 

Average annual fees - Around USD $106,000 HEC (Hautes Etudes Commerciales)

Paris is praised as one of the “four aces” in French Higher Education. The courses enhance your analytical and critical thinking and equip you with the knowledge to become tomorrow’s business leaders. HEC Paris’ MBA program has specialisations and students also have the liberty to craft their coursework to some extent for better academic experience.

Massachusetts Institute of Technology (Sloan)

QS Global MBA Rankings 2024 - 06

Acceptance rate - 4%

Average annual fees - Around USD $152,000

MIT is one of the top and most prestigious business schools across the globe, and the courses come with various perks. Sloan’s MBA program aims to make students learn about the essential aspects of business including, general management, human resources management, accounting, business analytics, economics, entrepreneurship, finance, international business, leadership, and organisational behaviour.

Columbia Business School

QS Global MBA Rankings 2024 - 07

Acceptance rate - 4%

Average annual fees - Over USD $84,000

Columbia Business School is considered to be a step ahead in the academic game, preparing students to join and lead the rapidly evolving business sector. Its MBA program is praised for its comprehensive, unmatched curriculum, and the access to resources and facilities for international students.

IE Business School

QS Global MBA Rankings 2024 - 08

Acceptance rate - 32%

Average annual fees - Over USD $89,000

IE (Instituto de Empresa) Business School is a frontrunner in business studies in Spain. The institution hosts international students from over 140 countries from all over the world! IE’s MBA programs provide the best resources to fuel students’ ambition and passion, help them discover their potential and enhance their business knowledge and skills.

University of Cambridge - Cambridge Judge Business School

QS Global MBA Rankings 2024 - 09

Acceptance rate - 21%

Average annual fees - USD $87,000

A degree from the University of Cambridge’s Judge Business School is a remarkable boost to an international student’s profile. The MBA programs give access to world-class education, shape your skills with a rigorous curriculum, and pave the way for a path of opportunities.

IESE Business School

QS Global MBA Rankings 2024 - 09

Acceptance rate - 26%

Average program fees - Around USD $114,000

The IESE (Instituto de Estudios Superiores de la Empresa) Business School is considered a prestigious educational institution in Spain. The business school’s MBA program was ranked the third-best MBA in the world in 2023 by the Financial Times. The MBA programs develop your skills and knowledge, enhancing your business perspective and ensuring you unlock your full potential for a bright career.

Your timeline to apply for an MBA abroad

International students should start their course hunt for an MBA in their preferred destination months before. They must do ahead of the planned intake due to the long admission process to study abroad. Students should have a thorough checklist including getting the documents ready, checking eligibility, ensuring their profile meets them, completing admission tests, and sending the application. So they should apply early to get through the extensive, complicated admission process. International students should prepare to pursue an MBA at least ten months to one year before the application deadline. Here’s how you can plan to apply for an MBA.

• Before 6-12 months - Start preparing for admission tests like the GRE, GMAT, and English proficiency tests.
• Before 3-6 months - Choose the course and university that suit your interests.
• Before 3 months - Prepare your documents like your SOP and LOR, and send the application.

Don't miss these proven Statement of Purpose (SOP) templates. Download now for free!

MBA jobs: What can you do with an MBA?

Pursuing an MBA abroad comes with high-paying employment opportunities in different sectors across the global market.

According to talent.com, the average annual salary of a Human Resources Officer is over $123,000 in the USA alone.

Here are some top job prospects for MBA graduates abroad.

• Human Resource Officer
• Business Analyst
• Finance Analyst
• Brand Manager
• Business Intelligence Manager
• Marketing Research Director
• Research Economist
• Business Systems Analyst
• Finance Consulting Manager

Kick-start your MBA journey with Edvoy. Explore and apply for the upcoming intake today!

Frequently asked questions

What is an MBA degree?

A Masters in Business Administration is a 2-year graduate program. Here, the students learn about business and management-related factors like leadership, organisational behaviour, accounting and finance, economics, and so on.

What is the qualification for an MBA?

The eligibility requirement for an MBA abroad varies with every location and university. Here are the common criteria for international students to pursue the course.

• Education qualification: An undergraduate degree in BBA, a business-related, or other course.
• Work experience: Minimum two years in a relevant business field.
• Admission tests like GMAT, GRE, IELTS, TOEFL, PTE, and Duolingo.

Which MBA course is the best?

Some of the top MBA courses abroad include.

• MBA General Management
• MBA Human Resource Management
• MBA Entrepreneurship
• MBA Business Analytics
• MBA International Marketing
• MBA International Business
• MBA Financial Management
• MBA Healthcare Management

Which is better MBA or MSc?

An MBA and MSc are two different graduate programs. A Master’s in Business Administration aligns more with business, its functions, leadership, entrepreneurship, and others. A Master of Science dives deep into a specialisation related to science, medicine, and other disciplines.

Does an MBA require Class 12 marks?

Your class 12 score is not a mandatory requirement to pursue an MBA abroad, but in some instances, certain universities might demand it. So ensure you have the documents ready while preparing your application.

What is the MBA age limit?

There is no maximum age limit for international students to pursue an MBA abroad.

What is the full form for an MBA?

MBA full form is a Masters in Business Administration.

In MBA, what is it that attracts international students?

Pursuing an MBA comes with various perks for international students. The courses offer international exposure, helping students form professional connections and enhance peer networks. MBA courses also aid their personal growth, boost their academic profile, and pave the way for high-paying job opportunities.