What is an MBA?

Learning, studying, training, consolidating skills, and acquiring new ones. Today, developing in the working world means embracing the concept of lifelong learning. The MBA is the best vehicle to meet this need. According to the latest available figures from AACSB (Association to Advance Collegiate Schools of Business), the main accrediting body for business schools, 250,389 students pursued an MBA worldwide during the 2020–2021 academic year. But, exactly, what is an MBA?

What does MBA mean?

MBA stands for ‘Master in Business Administration’ in English, and it is a somewhat different type of postgraduate degree compared to traditional programs. In fact, it is a prestigious qualification that provides high-level managerial training. It offers a wide range of tools needed for organization, strategy, finance, marketing, and human resource management, but it also focuses on developing transversal leadership skills necessary to become a leader. 

In addition, unlike other master’s degrees, an MBA provides practical learning through the analysis of real-life case studies, allowing students to gain a solid foundation of experience that they can apply once they enter the professional world. In short, the best answer to the question “what is an MBA?” is: the program for future leaders. 

What distinguishes a good leader from a simple manager is not only the level of preparation and skills acquired, but also (and above all) the way they communicate, engage in dialogue, and interact both with their team and the outside world. Thus, in addition to communication skills, public speaking techniques, and body language, an MBA teaches networking skills—that is, how to build a professional network that lasts over time and is based on mutual trust.

What is an MBA and a Master’s degree? Main differences

Once we understand what an MBA is, the next questions for interested individuals are: how do you start a business? how do you sustain it? how do you create and defend the value created in a market against competitors? The MBA helps answer these questions. In fact, it has always been clear that this type of education requires a different effort from both teacher and student. The lesson cannot be delivered top-down, but through interaction, which must be encouraged through case studies and projects designed to stimulate problem-solving.

The MBA was born in the United States in the early 20th century to address the lack of specialization in Anglo-Saxon universities. Its success quickly led to global adoption. Europe introduced the MBA in the 1960s and 1970s. However, it was during the 1980s, coinciding with the first wave of economic globalization, that the MBA became a benchmark for graduates worldwide seeking specialization, differentiation, and career advancement. This also led to a wide range of different formats.

Business schools began offering Executive MBA programs, which allowed both in-person and remote learning thanks to new technologies, Specialized MBA programs focused on finance, marketing, and strategy, and Part-time MBAs designed for local audiences. All of these were tailored to specific markets, attracting participants with different levels of experience and availability. The Full-Time MBA, meanwhile, has kept its original name and remains the benchmark in business education. Discover the types of MBA available.

In fact, the MBA is EAE Barcelona’s flagship program, designed to boost and transform students’ professional careers, projecting them toward a global vision and fostering their curiosity and critical thinking.

What is an MBA and what is it for?

For those still wondering why study an MBA, the answer is that it is a master’s degree designed specifically to deepen knowledge in business organization and management and to reach leadership positions. It is intended for those who work (or aspire to work) in consulting and business management and want to grow and be promoted within a company.

Obtaining this certification means reaching the highest level in business economics, organization, and management, regardless of the sector in which companies operate. However, it should be noted that an MBA is not exclusively intended for those with an economics background, but is accessible to everyone, including those who have studied engineering or architecture.

Typically, the program lasts two years, although there are also shorter options (18 months) and longer ones (28 months). The historically distinctive feature of what defines an MBA, especially in the European market, is its focus on applied knowledge. In fact, many people choose to pursue an MBA not immediately after graduating, but a few years after entering the workforce, having grown professionally and gained experience.

Why study an MBA?

Studying an MBA is an option available to those who have obtained a bachelor’s degree, but an admission test is required. The GMAT (Graduate Management Admission Test) is an integral part of the application process. It is a test of approximately three hours, taken on a computer, and divided into four sections:

• Quantitative reasoning
• Verbal reasoning
• Integrated reasoning
• Analytical writing

Many universities accept only the GMAT, while others also accept the GRE (Graduate Record Examination), a more general test. In fact, while the GMAT places greater emphasis on mathematical skills, the GRE focuses more on problem-solving abilities (covering subjects such as biology, chemistry, English literature, mathematics, physics, and psychology).

Top business schools, including EAE Barcelona, usually require very high GMAT scores (720/730 out of 800). A large part of success in this test depends on critical thinking, communication, and reasoning, which are just as important as mathematical skills. This is because it is not only a test that certifies candidates’ competencies, but also evaluates how they handle business cases and make decisions.

In any case, in addition to the selection test, candidates are usually required to submit a cover letter along with references (for example, from employers). Very often, MBA admission requirements also include additional steps such as proof of English proficiency (usually TOEFL, IELTS, or PTE).

Studying an MBA opens the door to a world of opportunities, whether to start a business after gaining the ability to write a business plan and manage employees across various industries, or to work for a large corporation. Ultimately, it is a crucial investment in shaping a successful career.