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Master of Business Administration

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Master of Business Administration (MBA) is a tertiary degree in business management. It is one of the few master's degrees where some top programs have more prestige than the associated doctor's degree.

In the USA, Chicago, Kellogg, Harvard and Wharton (among others) are usually seen as the top MBA programs. In the UK, London Business School has been the top even after both Oxford and Cambridge joined FT ranking. Even in China, they established uniform MBA examinations for nationwide admission to business schools. China's top MBA program is Tsinghua. CEIB and other top tiers, HKUST and CUHK in Hong Kong are ranked in Financial Times.

Given the recent interest in the MBA degree and its huge population around the world with the same designation, there have been growing concerns about the hype it has generated. There are accredited and non-accredited classification. Not all MBA programs meet all employers' requirements. However, MBA is at the moment one of the most relevant global business qualification for CEOs/CFOs (if in accounting & finance) or senior executives which can be clearly distinguished by business schools from other schools such as JD.

The MBA designation originated in the USA. EMBA (Executive Master of Business Administration) programs were first established for senior executives by the University of Chicago in 1943. Both MBA and EMBA are now global qualifications in above global league table with salary ranges. EMBA attaches selection of right candidates from competitive executives. An important admission criterion to most MBA/EMBA programs is the GMAT test. Schools that offer the MBA are usually known as either management or business schools. The first two American business schools (Wharton and Chicago) were established in the 1890s.

An MBA is considered a professional Master's degree rather than a traditional or academic Master's degree. However, completion of a professional MBA does not usually preclude admission to a Ph.D. program for research oriented engagements. Exceptions are, for instance for college professors where a top tier MBA in accounting/finance may be more practical and relevant, say for teaching accounting/finance and for CFO appointments in the USA.

MBA programs require students to master a variety of subjects, including economics, organizational behaviour, marketing, accounting, finance, strategy, international business, information technology management, and government policy. Many programs allow students to specialize in a particular area, but completion of the core breadth requirements is still necessary. For MBA's strengths in individual areas such as in Accounting and or finance, please refer [U.S. News & World Reports] or others for top tiers.

Under globalization, MBA/DBA designations can be found anywhere. Mode of deliveries can be in whatever ways or 100% on-line or by distance learning. Receivers/employers should accept the fact that top MBAs are always short in supply for certain reasons. The value/contributions of others (either accredited or non-accredited) should not be ignored. Even top MBAs, may vary considerably in their programs. For instance, in U.K. we easily find MBA can be completed within one year and or with further exemption. Having part of or close to half of a MBA being exempted by an professional designation, such as chartered accountant may bring us further confusion. Are these in fact equivalent to Mini MBA being offered by top schools?

The UK Government announced in its April 2004 budget that persons holding an MBA degree from the world's top fifty business schools will be entitled to work in the UK for one year. After this year has elapsed, they are likely to qualify for the UK's Highly Skilled Migrant Programme. This, in effect, means that an MBA from one of the top schools is a ticket to UK residency status. Similar flexible policies are found in China for talent admission.

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