An MBA certification is one of the essential degrees to have if you seek to improve your career prospects. It has global recognition and opens up a world of opportunities in the business sector for you. For this reason, many people go above and beyond to ensure they get into one of the elite business schools in the U.S. However, getting an MBA admission isn’t a walk in the park. The entry criteria and eligibility for MBA entrance exams are pretty steep. Only a few applicants get selected.
Fulfilling all the requirements for the entrance exams is usually the first step towards getting an MBA admission. This includes finding out all there is to know about applying for an MBA.
Fortunately, this article covers all that and more.
- Fundamental Things To Know About MBA
- What are MBA Entrance Exams?
- Factors that Determine Eligibility for MBA Entrance Exams
- Benefits of Studying an MBA program
Read on to find out if you are eligible for any of the MBA entrance exams.
Fundamental Things To Know About MBA
The Master of Business Administration degree or MBA is a professional certification that prepares an individual for managerial positions in any business industry. It offers in-depth knowledge in various fields such as Marketing, Human Resource Management, Economics, Technology Management, and many more.
MBA is the most sought-after master’s degree because of how versatile it is. It allows for specialization in any of the programs offered, separate from the general knowledge of business administration you will get. There are currently over 30 MBA specializations to select from.
Notable among these specializations are
- MBA in Human Resources: Human Resources offers the skills necessary for a manager to recruit the best employees that fit the organizational culture. Students in this specialization are typically suitable for top managerial or developmental positions.
- MBA Operations Management: This involves in-depth training on the management of products manufactured and services offered. It teaches various strategies that you can use to solve operational issues in the company.
- MBA in International Business: Those looking for a career in multinational corporations find this specialization most valuable. It prepares them for dealing with global marketing problems that affect the company.
- MBA in Marketing: Students taking an MBA marketing program undertake training in modern-day marketing practices and how best to utilize the three fundamental marketing skills: Creating, Understanding, and Delivering value to the customers.
Each of these programs offers a wide variety of job opportunities such as Financial Analyst, Financial Consultant, Human Resource Manager, Portfolio Manager, Director of Operations, and many more.
MBA courses differ for various universities, and so does the eligibility for MBA entrance exams. Be sure to do your due diligence and find out what courses are available in your prospective Business School.
Types of MBA
Different types of MBA programs are available to cater to the students’ needs while pursuing their degrees. They include:
- Executive MBA (EMBA): The Executive MBA program is mainly for working-class professionals who intend to improve their career prospects and gain more knowledge in their field. Classes are usually held during the weekends for convenience, and the program could last up to two years.
The curriculum used for EMBA is tweaked towards the needs of the executives. As such, the students are not required to go on internships, and there are almost no MBA specializations. They are simply taught in Business Administration courses across the board.
- General MBA: General MBA is suitable for aspiring MBA students looking for ways to kick-start their careers and land a managerial position. This type of program is available to both full-time and part-time students.
- Online MBA: Also known as distance learning, this type of MBA is most appropriate for students who cannot attend the regular program or working-class professionals with limited time.
Due to its flexible schedule, many prospective MBA students opt for distance learning. The classes and assignments are all done virtually, and it is less demanding than the full-time program. It is also a very affordable method of getting an MBA degree.
- MBA Part-time Program: Individuals seeking a comprehensive MBA program that is somewhat flexible would find the MBA part-time program most suitable. Classes are typically held in the evenings, so those in the working class can still attend.
Although the program may take longer, the students have almost the same privilege as full-time students in terms of MBA specializations.
What are MBA Entrance Exams?
MBA entrance exams are a set of exams that test you on specific skills such as Quantitative Ability, Verbal Ability, and Reasoning Ability to find out if you are eligible for an MBA Admission.
The section on Quantitative ability tests your mathematical skills. Questions are drawn from Probability, Number system, Percentage, Ratio and Proportion, Simple Interest, and Compound Interest.
Verbal ability tests your capacity in the English language. Subjects like Grammar, tenses, Reading, Sentence correction, and the likes are used in quizzing the candidates.
While reasoning ability has to do with your ability to think analytically, logically, and critically.
Eligibility for MBA entrance exams varies from school to school. Some business schools accept only specific entrance exam scores like the GMAT and the GRE. Ensure you research your prospective school and find out which entrance exams they accept.
MBA Entrance Exams Requirements
There are two major MBA entrance exams accepted by most Business schools in the U.S.: GMAT and IELTS/TOEFL.
The Graduate Management Admission Test is the most popular and acceptable entrance exam for many MBA programs. Therefore, individuals seeking an MBA admission in the U.S. have to ensure they score really high on their GMAT exam.
The cutoff mark differs for various schools, but an average score of 720 is typically acceptable for elite schools. Other schools admit students with scores less than that.
The GMAT exam has four sections: Quantitative Reasoning, Verbal Reasoning, Integrated Reasoning, and Analytical Writing Assessment. The quantitative section is majority mathematical, and it contains both data sufficiency and problem-solving questions. The verbal section tests your Sentence Correction, Grammar, Reading Comprehension, and Critical reasoning ability.
The integrated reasoning section measures your ability to solve real-life problems in the business world. It makes use of tables and graphic representations such as Venn diagrams and charts to supply information.
Analytical Writing Assessment (AWA) requires you to analyze a specific argument and write a critique of it. This section is quite tasking and is typically marked by the computer and a human reader.
International students aspiring for an MBA Admission in the U.S. need to take one of these two exams to test for English language proficiency. Both exams have four sections, which are Reading, Writing, Listening, and Speaking.
The average acceptable score for most schools is 6.5 for IELTS and 80+ for TOEFL exams. However, upper-class business schools do not accept IELTS scores less than 7.5 and TOEFL scores of 100.
Graduate Record Examination (GRE) is another MBA entrance exam that you can use to gain admission to a business school. Although not all schools accept it, some still give students admission based on their GRE scores. The GRE is similar in structure to the GMAT and requires an average score of 320
Some schools waiver the MBA entrance exam criteria for prospective students. This is so as these students already have a prior professional degree or have gathered enough work experience.
Factors that Determine Eligibility for MBA Entrance Exams
Various criteria determine if an individual is eligible to take the NBA entrance exams. Here are some of the requirements that determine eligibility for MBA entrance exams;
- A minimum of four years Bachelor’s degree from an accredited university.
- Work experience of at least 2-3 years. Those with no work experience could also apply. However, they would have no competitive edge over those who do.
- GMAT score of about 600 and above.
- Application essay.
- Letter of Recommendation (preferably from an employer).
- Proof of proficiency in English Language (IELTS/ TOEFL).
Benefits of Attaining an MBA Program
There are numerous advantages to getting your MBA, some of which include:
- It enhances your Career Prospects: An MBA certification is globally relevant and allows you to get a managerial position in your organization easily.
- It increases your knowledge: Studying an MBA program increases your knowledge base and helps you develop other skills.
- Creates room for Networking: Studying for your MBA provides you with the opportunity to meet other like minds and build lasting connections.
- Facilitates Growth and Personal Development: The process of seeking an MBA degree will help you grow personally and develop life skills such as Leadership, Critical thinking, Listening, and Communication skills.
As one of the most sought-after degrees, MBA admissions are not easy to come by. Eligibility for MBA entrance exams is typically dependent on the school, which means you will need to research properly what your preferred school requires. An MBA certification provides numerous benefits, and so, getting one is essential if you want to build your career.