Should You Get a General or Specialized MBA?

If you feel a Master of Business Administration (MBA) is right for you, you’ll have to think about whether you want a generalized or specialized one. While each has its advantages, the right one will depend on your goals once you graduate.

Preparing for a Program

Regardless of the area you decide to specialize in, it’s essential to think about how you will pay for it. Some schools offer a graduate student assistant (GSA) program where you can assist in teaching undergraduate classes. In exchange, you might get all or part of the cost of tuition covered. Some programs also offer a living stipend. However, you might want to consider taking out student loans with a private lender in order to pay for your graduate degree. That way, you will not have to get a job to cover the cost of school. And you do not have to worry about saving money to cover your living expenses.

About General MBAs

You might choose a general MBA if you want to learn about management and business in more general terms. The program allows you to gain skills in many areas, and you can apply them to many types of jobs in a range of industries. Besides learning about management and business, a general program will also allow you to learn about communication, leadership, and creativity. Plus, you will learn how to think critically and solve problems. These skills are the key to success, no matter what your field.

Another reason many applicants like general programs is that they do not need to have specific experience. You will likely have to take an exam to show that you’re a good fit for school, and then you can create your applications. Of course, there are a few cons of getting a general degree. It will not point you toward the right industry or job after graduation. You’re on your own when it comes to looking at your options and deciding what the best fit is.

About Specialized MBAs

When you get this degree, you’ll get in-depth training in an area such as entrepreneurship, finance, accounting, or another area. If you have a specific career in mind after graduation, choosing a specialized degree might be for you. A specialized degree can give you a leg up since you will already have industry training. Often, this type of MBA only lasts for a year, so you might be able to work during school or have a flexible schedule.

On the other hand, there can be a few negative aspects of the degree. For instance, you will only receive training in one area. That means you’ll want to be certain about your goals before choosing the program. Plus, if you only have training in one area, it will be harder to get a new job later. For instance, let’s say you get a degree in finance. If you want to move to marketing later, it’ll often be harder than if you had a general degree. Plus, many specialized programs require that you have the right experience before you apply. If you don’t have much work experience, it can be harder to get into a program.