<p>Lately I've been heavily researching information on business administration. A lot of sources say that acquiring a masters in business administration is a waste of time and money. At the moment I'm a high school graduate. I've been really interested in getting an M.B.A. and I heard nothing but good things about it. I wanted to concentrate in either marketing or finance. Would someone shed some light on this major for me? Would an M.B.A. eventually lead me to having a 150-200k a year salary?</p>
<p>Lol, I’m a high school senior who was in the same position. </p>
<p>From what I’ve read (and heard), the utility of an MBA is heavily dependent on what field of business you want to enter. If you plan to become a trader, there’s no reason to get an MBA or an MFE if you get a trading job out of college. Those degrees will only be useful if you’re trying to break into trading. If you want to go into PE or VC, an MBA is almost a requirement as its almost impossible to get those jobs out of undergrad. For investment banking, see this very informative post: [Will</a> an MBA Get You Into Investment Banking? | M&I](<a href=“http://www.mergersandinquisitions.com/mba-investment-banking/]Will”>MBA Investment Banking Recruiting: The Comprehensive Guide).</p>
<p>To answer your last question, an MBA won’t guarantee you a high salary. While a prestigious MBA definitely boosts your application, your prior work experience will still be more important than the degree. The people who get such salaries out of grad school are probably working for the top companies in the world. Competition for those positions is extremely intense so your education can’t be the only strong part of your resume.</p>
<p>Don’t worry about an MBA degree before you have your first degree and several years of post grad work experience. Most MBA students are 25-29 years old and have 3-5 years of work experience prior to business school. You will be competing with those pool of candidates for spots in top MBA schools and later for jobs.</p>
<p>Thank you for your replies. Fate, the link that you provided was really helpful. What I’m understanding is that I should first acquire a BS, get experience, and than go back to a prestigious university for the M.B.A. Is there a specific career that you guys would recommend. I wanted to purse a career in business, but I realize that the “business” field is very broad.</p>
<p>No degree can guarantee a six-figure salary, but an MBA is a good start towards one, especially if you are interested in business. It is true that there are a lot more MBA’s popping up out there, but that doesn’t mean the degree isn’t still very valuable.</p>
<p>The most useful MBA degrees in today’s economic climate are those that give you good practical experience and academic knowledge. If the program only stresses theory and doesn’t dive into how to practice the things you are learning, it probably isn’t worth earning that degree. You should find a degree program that is big on balancing theory and practice.</p>
<p>Another aspect of a quality MBA degree is specialized tracks. A run-of-the-mill MBA degree just isn’t going to make you stand out in today’s business world, so you should find a program that will allow you to earn a degree with a track such as marketing, finance, accounting or human resource management. Having a specialization will make you more attractive to prospective employers and give you a more defined career path.</p>
<p>Finding an [MBA</a> degree](<a href=“Degrees & Programs | Columbia College”>Degrees & Programs | Columbia College) that fits these criteria is important. Good luck in your search!</p>
<p>A lot has been cleared up for me. The only thing that I’m confused about at the moment is if I should major in business administration or finance. I heard of people getting enrolled in M.B.A. courses without any prior business administration courses taken. How does that work? For example, can you get a bachelors in finance, work around 4 years to get experience, and than enroll in an M.B.A. course? Wouldn’t you need to have a bachelors in business administration before you could enroll into attaining a masters?</p>
<p>No, the MBA programs are actually looking for people who didn’t major in Business Admin as an undergrad.</p>
<p>So I’d be able to attain a bachelors in finance, work, and than go back for an M.B.A.?</p>
<p>Yes, you would.</p>
<p>I see. What’s the major difference between majoring in finance and majoring in business administration with a concentration in finance? I understand that a finance major will be more in-depth on just that; finance, but opportunity wise and job outlook, what’s the better path to take? Also I appreciate everybody answering my questions. I understand that I may be asking a lot of questions, but I’m just trying to understand exactly what I have to do to have a successful future doing something that I like. At the moment I’m kind of leaning towards getting a masters in finance, and than returning for an M.B.A. If I’m going to end up eventually pursuing an M.B.A. though, would a masters in finance still look much better on my resume that just a bachelors?</p>
<p>I think they are just different labels for the same thing</p>
<p>Some schools you can major in finance
Other schools have only a business admin major where you do a concentration in a field of study (finance, accounting etc)</p>
<p>That makes sense. I actually looked up if a major in finance is offered at a few universities. I noticed that many of them that provide business administration, don’t provide finance.</p>
<p>Go to the best university regardless of whether they have a finance/business major. Many of the Ivy’s don’t have business programs and students study economics instead.</p>
<p>^ Exactly. Only 2 of the top 10 US college have an undergraduate major in business or finance. An economics degree at a top 25 college that doesn’t have a business major is equivalent to a business degree at a top 25 college that does have a business major. Although the two degrees have different curriculum’s, they will prepare you the exact same opportunities in business and position to acquire a prestigious MBA.</p>