The Master of Business Administration or MBA is a master's degree in business administration/management.
The degree was originated in the United States in the early 20th century when the country industrialized and companies sought scientific approaches to management. The core courses in an MBA program cover various areas of business such as accounting, finance, marketing, human resources, and operations in a manner most relevant to management analysis and strategy. Most programs also include elective courses.
The Economist has been published a list of valuable MBA programmes across the world.
According to the Economist, Chicago retains its place at the top ranking of full-time MBAs. It is the sixth time in seven years that it has taken first place.
Like most of Chicago's peers, nearly all of its MBA class can expect to find a job immediately after graduation, with a basic salary well in excess of $100,000. Such degrees do not come cheap. The average cost of tuition at the top 15 schools is $112,000.
America, the spiritual home of the MBA, dominates the list, accounting for 11 of the top 15 schools. The ranking is based on a mix of hard data and subjective marks given by students. It weights data according to what students tell us is important. The four categories covered are: opening new career opportunities (35% weighting), personal development and educational experience (35%), increasing salary (20%) and the potential to network (10%).
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