Although there is no such thing as an all-purpose degree track when it comes to postsecondary education, a Master of Business Administration (MBA) program can come close in many respects. This extremely versatile degree can be a great way to prepare for a broad array of career paths with an emphasis on operations management, organizational oversight and the business market.
The extreme flexibility and adaptability of an MBA degree may account for its remarkable popularity. According to recent analysis by the National Center for Education Statistics (NCES), U.S. students earned more MBAs from 2018-2019 than any other master’s degree. In fact, only healthcare-related master’s programs come anywhere close to MBA programs in terms of total student enrollment. To understand these trends, University of Phoenix took a closer look at MBA degree programs and their practicality for professionals.
Understanding an MBA Degree
Management training serves as a solid anchor for the MBA curriculum, but the typical MBA program also includes coursework in areas or specializations such as finance, healthcare administration and business law. NCES data showed that master’s degrees in business spanned subjects in business as well as related disciplines in management, marketing, support and personal services.
A practical MBA program can instill well-rounded management and general business skills in students regardless of their plans for after graduation. But these students can also come away with elevated general critical thinking, decision-making and leadership abilities that can be put to use in the workforce. This can help anyone who holds an MBA enhance their career opportunities whether looking to climb the administrative ladder or run a business of their own.
Depending on their particular areas of business interest, students can pursue an MBA with one or more distinct concentrations. Programs are also often offered with full-time or part-time options where students can work toward specific degrees such as an Executive MBA (for working senior administrators) or a Competency-Based MBA (for people who can demonstrate existing business leadership skills).
Common Professional Tracks for MBA Graduates
An MBA can pave the way for any number of unique career paths that span the full spectrum of markets and industries. To make their experience substantially smoother, students can choose to focus their studies in a particular area of focus.
At University of Phoenix, students can pursue one of five graduate certificate concentrations to augment their final MBA degree.
- Finance: Involves preparing students to solve financial challenges, manage financial risk and employ financial techniques to manage company funds and make investment decisions.
- Marketing: Involves preparing students to further market outreach and through initiatives such as boosting product awareness and developing effective e-marketing strategies.
- Healthcare Management: Involves preparing students to overcome common challenges in the healthcare field and address evolving issues in health law and ethics.
- Human Resource Management: Involves preparing students to recruit employees, develop compensation or benefits packages and address other key human resource administration issues.
- Project Management: Involves preparing students to plan, institute, oversee and evaluate business projects including cost projection, budgeting, leadership and benchmark analysis.
Whether or not an MBA includes a certificate of focus, the degree program can prepare professionals for a number of roles. The MBA degree program at University of Phoenix specifically strives to produce the next generation of business, general, operations, and facilities managers as well as administrative directors.
The employment projections for all of these careers are positive. According to the U.S. Bureau of Labor Statistics, “Employment in management occupations is projected to grow 9 percent from 2020 to 2030, about as fast as the average for all occupations, and will result in about 906,800 new jobs.”
University of Phoenix Master of Management Program
Choosing the right business school is a crucial and foundational step to finding success in the business world with an MBA. In addition to assessing the relative quality of various MBA programs, prospective students must find one that fits into their lives including all work, family and personal demands.
The University of Phoenix Master of Business Administration program was designed to meet the rapidly changing demands of the current business market. The responsibilities of the working adult were foremost in mind during curricula development. The degree program can be completed entirely online in a few weeks. And thanks to the University’s convenient staggered course schedule, students can start working toward their MBA when it works best for their needs.
Experienced professionals can secure their MBA even faster thanks to the University of Phoenix Competency-Based Master of Business Administration degree (MBA-CB). This unique program allows students to transform their on-the-job experience into viable college credits while earning others by completing coursework.
About University of Phoenix
University of Phoenix introduced a novel approach to postsecondary education when it first opened its doors in 1976. The University offers opportunities to help students foster their knowledge and skills while supporting them in pursuit of their professional goals with flexible schedules and online learning.
The courses offered by the University can help students from every background pursue their goals. Coursework is interactive and designed to help adult learners absorb the material with an emphasis on doing. University of Phoenix is proud to serve a diverse student population and help them overcome any obstacles that may be standing in the way of their education.