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What is an MBA: meaning, what it does and why to study it

What is an MBA: meaning, what it does and why to study it

An MBA Master's degree is one of the most popular and most demanded masters in the world. Despite this, many people do not know what an MBA is, what it means, what it does and access requirements. Let's clear these common doubts below.

What is an MBA,MBA Master's degree, MBA,

What MBA means

The meaning of MBA comes from English. is an acronym for Master of Business Administration. In Spanish, it would be translated as Master in Business Administration, in Latin America, or master in administration and business management, in Spain.

Access requirements for an MBA master's degree

An MBA is a postgraduate study. This means that you need a previous university degree to be able to study an MBA, ie; You must have studied and completed a degree at any university in the world.

The degree does not have to be related to the business world. Although business schools and universities have the final say in this regard, in general, you will be able to pursue an MBA with any university degree.

Scoring in the GMAT exam

Another common access requirement in the most prestigious business schools is scoring on the GMAT exam. The GMAT (Graduate Management Admission Test) is a test in English that measures the knowledge and aptitude to pursue business and business studies. In Spain, the GMAT is necessary to study at IE Business School, IESE Business School, and ESADE Business School, among others.

Masters MBA types

MBA Full-time: aimed at recent graduates or workers with little work experience. It's the most common MBA program. It usually lasts two years and is full-time, ie; That you can't reconcile it to work. Although some schools also offer a part-time MBA, weekends or some loose days.

Executive MBA (EMBA): aimed at professionals with some years of experience (usually from 5 years). They tend to be part-time programs to be able to reconcile it with work.

Global Executive MBA: It is the same as the previous one but in an international environment. They usually include stays in several foreign cities.

How long an MBA lasts

The duration depends on the type of master you choose. Our listings are almost all full-time MBA's aimed at graduates. Its duration is usually between one and two years.

What is the purpose of studying an MBA?

The main function of an MBA master's degree is to teach to manage a company from all its aspects, ie; Form qualified executives with a global vision of the business.

We have already seen previously that the Spanish meaning of MBA is a master in Business Administration or master in business management. The subjects that are taught in these studies are varied and are directed to learn how to manage a business. They can be grouped into three blocks:

Analytical: Accounting, Business Economics, operations research, organizational behavior, economic policy, statistics and quantitative analysis.

Functional: Financial management, human resources management, marketing management, and operations management.

Ethics: Social and corporate responsibility, business ethics.

Some MBA masters have a program of internships in companies as part of the training, thus facilitating the incorporation of their students to the labor market.

Last but not least, a master of this type provides a great opportunity to meet people in the business world, make contacts, as they say. These contacts can be fundamental to your future professional career.

Why study a master MBA

A master MBA is a great disbursement, both in time and money. Deciding to study these studies should not be done lightly. In our view, you should study a master MBA if you want to dedicate to business management and if you have the money to pay for it. As simple as that. An MBA will improve your resume, but it does not guarantee that when you finish it you will have a job. Borrowing to take one is not the best idea.

If you do not have enough money but want to be an entrepreneur and your idea is to mount a small company, do not spend your money on a master, spend in your company. You'll learn a lot faster. Guaranteed. And if you need advanced knowledge, buy a good book. It's all in the books. It's a cliché, but that's not the least true.

The best business schools in Spain

If you are already determined to study a master MBA and have a budget, you should study it in a prestigious school, if possible. The better the school (and more expensive), the more chances you will have to take advantage of your master. In Spain, the most prestigious business schools are three: IESE Business School, IE Business School, and ESADE Business School.

Do not be discouraged if you do not have enough money to pay for your studies in the aforementioned schools. Fortunately, in Spain, we have many public universities that offer quality MBA programs at an affordable price, such as the Complutense University of Madrid (UCM) and the Carlos III University of Madrid (UC3M), among others.

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