A Master of Business Administration (MBA) is a graduate degree that covers a range of topics in business management. This professional master’s degree equips students with the skills to become effective leaders and managers who can address complex business challenges in a wide range of industries. The online Master of Business Administration (MBA) program at Youngstown State University (YSU) features coursework that incorporates real-world applications, enabling students to apply the skills they learn to their future careers.
Prospective students interested in earning an MBA often ask a variety of questions, including what this degree teaches, what earning potential graduates have, the different types of MBA programs available and more. This guide features seven of the most frequently Googled questions that students ask about MBAs and the answers to help you determine whether the degree is right for you.
What Is an MBA?
The acronym MBA stands for Master of Business Administration. This graduate-level degree focuses on business management and leadership, enabling students to fill high-level roles in a range of industries and business sectors.
Core coursework encompasses several essential business topics, including finance, marketing, business operations, accounting and economics. Students also participate in skills-based training to develop crucial skills such as strategic planning, decision-making and critical thinking. The online MBA program at YSU includes in-depth learning through practical projects, case studies and group work.
What Does an MBA Teach You?
As you participate in YSU’s online MBA program, you’ll develop a variety of essential skills designed to help you advance in your career, whether that means stepping into leadership positions or transitioning into a different industry. Some core topics include foundational aspects of business, like business policy, marketing strategy, operations, talent management and leadership. Along with these core fundamentals, you’ll learn to implement strategic and analytical skills like forecasting and planning, problem-solving, networking and decision-making, all of which are essential traits of successful leaders.
Students also learn how to integrate vital problem-solving applications throughout this online graduate degree program. Possessing and knowing how to implement these strong problem-solving skills helps you tackle issues in the workplace and throughout your career. YSU’s program integrates practical case studies and real-world situations that engage and challenge you. As a result, you’ll learn how to address and apply complex business scenarios in a variety of settings and industries.
How Much Do MBA Graduates Earn?
The average salary for MBA graduates varies based on several factors, including your location, the company you work for and your position. According to the U.S. Bureau of Labor Statistics (BLS), the average annual salary for those in business management positions was $122,090 in May 2024. However, it’s important to note that students who graduate from specialized MBA programs, like healthcare management, may earn significantly more.
Salaries for MBA graduates vary across different industries and positions. For example, BLS data shows that human resources managers earned an average of $140,030 per year in 2024. Students should consider their ROI, or return on investment, when working toward an MBA degree. An immediate salary increase due to a higher-level position, better benefits, signing bonuses and stock options are just part of the return that many graduates receive.
What Are the Different Types of MBA Programs?
Several MBA programs are available to students, including full-time, part-time and 100% online options. The online programs at YSU help you learn on your own schedule, providing the ultimate flexibility for busy working professionals. A general MBA program covers the fundamental aspects of business management and leadership, enabling the implementation of practical, real-world strategies to address complex issues. YSU also offers several specialized MBA concentrations, tailored to your individual interests and career goals.
- Organizational leadership: This specialized program teaches you how to become a trusted, respected leader in any field as you learn new skills and gain the experience required to advance within your industry or prepare for a new high-level role.
- Healthcare management: Students enrolled in this specialized MBA program acquire a holistic understanding of healthcare systems as they learn to develop skills and strategies relevant to management in the field.
- Marketing: An MBA in marketing deepens your understanding of consumer behaviors and trends, enhances your ability to evaluate consumer decisions and helps you develop successful marketing plans for a variety of industries and business niches.
- Human resources: The MBA with a specialization in human resources program focuses on applying skills such as collaboration, communication and conflict management to support employees and advance their organization’s workforce goals.
Is an MBA Worth It?
One of the most common questions prospective students search for is whether getting an MBA is worth the time and effort. Graduates with an MBA receive a much greater range of career advancement opportunities and better access to important leadership roles. Earning your MBA may also enhance your marketability and lend you more credibility with current and potential employers.
Although a short-term, upfront investment, such as the cost of books and tuition, is required, an MBA provides graduates with many lasting career benefits. Some of those benefits include earning a higher annual salary than those with a bachelor’s degree and the ability to make a specific career pivot, such as transitioning from a lower-level accounting role to a higher-level finance management or consulting position.
Consider a few factors when you’re evaluating the value of an MBA. First, consider the program’s tuition and the time required to complete it to determine whether it aligns with your current budget and lifestyle. Next, consider whether an MBA aligns with your long-term career goals. It’s also a good idea to talk to your peers, MBA degree holders and members in your network to find out whether they agree that an MBA is worth it over the long run.
What Are the Requirements for an MBA?
Typical admission requirements for an MBA include having a bachelor’s degree from an accredited institution. The degree does not have to be business-related; any relevant field is acceptable. Having full-time professional work experience is also helpful, and most higher learning institutions require you to include your resume.
When applying for an MBA program, remember that you may need to provide additional supplemental components, such as your official college transcripts, personal and/or professional recommendations and essays, if necessary. Strong candidates should also have a competitive undergraduate GPA (usually 3.0 or higher) and high Graduate Management Admission Test (GMAT) or Graduate Record Exam (GRE) scores. YSU does offer GMAT/GRE waivers for hassle-free admission.
How Long Does It Take to Complete an MBA?
Another oft-Googled question is how long it takes to complete an MBA. Most traditional full-time programs take approximately two years to complete. Part-time programs usually take between three and five years to complete.
Fortunately, there are alternative ways to complete your MBA more quickly. Accelerated programs can be completed within just 12 to 18 months. The online MBA programs at YSU provide flexibility that allows you to learn at your own pace and on your own schedule. You’ll be able to continue your current career while earning your degree, and most programs are as short as 12 months.
Start Earning Your MBA Today
With incredible growth opportunities, the chance to fill leadership roles and higher annual incomes, enrolling in the online MBA program at YSU is a smart move for many career-minded students. Earning this degree provides graduates with the much–needed, in-demand skills designed to prepare them for high-level management and leadership roles.
Explore more of the YSU website for more details about our general and specialized MBA programs. If you’re ready to get started, apply online today.
