What is an MBA program?

An MBA is a type of master’s degree. But unlike business-oriented master’s degrees that focus on a single subject, such as a master’s in management or finance, an MBA covers multiple areas of business for a comprehensive understanding of operations. Knowing what is in an MBA degree can help a prospective student decide if it’s a good fit.

MBA coursework is designed to prepare students to manage business operations effectively and successfully by emphasizing strategic planning, marketing analysis, entrepreneurship and more. Students gain an overview of each function as well as how they work together to develop strategic leadership skills. 

An MBA is often a stepping stone to managerial and leadership roles. It may even be required for executive-level jobs.

The job outlook for these kinds of positions is promising: The U.S. Bureau of Labor Statistics (BLS) has projected more than 1.1 million openings in management occupations each year from 2025 through 2035. This can include positions such as business manager, general manager (GM), operations director and administrative director. Employers may prefer an MBA for some positions.

An MBA on a resumé may enhance career opportunities by showing proof of business expertise and an ability to handle critical business decisions and planning. Knowing what a graduate can do with an MBA may help those considering an MBA decide if it’s the right degree for them. 

BLS Occupational Employment Projections, 2025-2035 is published by the U.S. Bureau of Labor Statistics. This data reflects BLS’ projections of national (not local) conditions. These data points are not specific to University of Phoenix students or graduates.

Pursuing an MBA is a personal decision. If someone wants a leadership position in a business, an MBA can be a good investment. But it’s important to consider several factors first.

For example, MBA tuition can be significant, and students must decide if that investment in their education is worth it to them in terms of career goals and personal fulfillment. Earning an MBA enhances a student's practical and theoretical knowledge in the field of business and can be useful to various career paths. A student has to make time in their schedule to focus on coursework, however, even for a limited time while earning a degree, and this may be difficult if they also work a full-time job. This could impact time with family and other personal obligations.

Some people may decide they will benefit more from an MBA with a few years of work experience, while others may want to start a program right after earning a bachelor’s degree.

Consider the application process as well. Some programs require applicants to take the Graduate Management Admission Test (GMAT) or the Graduate Record Examinations (GRE) and submit a personal essay and letters of recommendation. 

Many people have concerns and misconceptions about how hard it is to earn an MBA. Consider that the MBA is the most popular graduate degree in the United States, based on 2024 studies. While coursework is designed to be challenging, it may not be as demanding as specialized degrees in science or engineering, for example. However, students do have to analyze and synthesize information, conduct research, write papers and collaborate on projects.

Perhaps one of the biggest concerns about earning an MBA is managing the time requirements. Students need to be able to meet deadlines for studying and assignments while also finding time for family and other responsibilities, such as work.

Here are some tips to help navigate this balancing act:

• Professionals already working in the business field can choose a self-led or flexible program
• Block out time every week for studying and homework.
• Talk to a partner or family members about how they could help, such as by taking on more household tasks.
• See where to temporarily cut back on social or volunteer commitments.

It’s also important to take time to relax. Managing stress effectively is essential to quality learning and getting the most out of an MBA program.

An MBA’s cost depends on a number of factors, such as the type of institution, whether it is private, public or online, and whether students have to pay out-of-state tuition fees. Consider the opportunity cost when looking at tuition and fees.

An MBA can help prepare graduates to pursue management and leadership positions. For example, according to BLS, the median annual wage range for all management occupations, such as business manager, occupational manager and sales manager, in May 2025 was $126,520, higher than the $50,980 median for all occupations. Of course, salary ranges vary by occupation and other factors, such as location, experience and company, among others. Also note that, according to BLS, "the median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less."

In general, research shows that higher levels of education translate to higher pay. Workers with more education are also less likely to face unemployment.

Salary ranges are not specific to students or graduates of University of Phoenix. Actual outcomes vary based on multiple factors, including prior work experience, geographic location and other factors specific to the individual. University of Phoenix does not guarantee employment, salary level or career advancement. BLS data is geographically based. Information for a specific state/city can be researched on the BLS website.

The first step to pursuing an MBA is earning a bachelor’s degree. Individuals whose undergraduate degrees are not in business-related fields may benefit from having at least a few years of work experience. Before selecting an MBA school and program, prospective students should research the available programs, curricula and costs. The following checklist can help when comparing programs:

• Program format — Determine whether an online or in-person program is the best fit.
• Enrollment status — Consider whether part-time or full-time study aligns with personal and professional commitments.
• Course structure — Explore standard, accelerated and self-paced programs.
• Competency-based options — Determine whether competency-based degree programs are available for individuals with several years of business experience.
• Credit requirements and completion times — Compare the number of required credits and average time needed to complete each program.
• Admission requirements — Review application and admission criteria, including whether the GMAT or GRE is required.

After selecting a program, prospective students can complete the application, which may require academic records, work history and an explanation of their reasons for pursuing an MBA. Once all application materials have been gathered, they can be submitted according to the institution’s instructions.

MBA curricula provide a well-rounded business education that prepares students to tackle the challenges of business leadership. Their structure usually includes a core curriculum course of study and may have electives. MBA programs may also include optional specializations.

Core courses focus on fundamental business areas as well as topics like statistics, economics and quantitative analysis. If electives are provided in a specific program, they provide the option to explore areas of particular interest in more depth, such as international business, entrepreneurship or digital marketing.

Many classes in master's business degree programs offer hands-on learning by incorporating real-world business cases and projects into coursework. Coursework often culminates in a major project, which may be a written report, thesis or presentation. Although this may vary depending on the specific program.

Many prospective students ask, “How long does it take to get an MBA?” Depending on the type of Master of Business Administration program and the number of classes they take, an MBA usually takes about two years.

At some schools, some students may be permitted to complete the degree faster by taking an accelerated program, doubling up on classes or being a full-time student.

Take a look at the facts about the MBA program at University of Phoenix:

• Students do not need to take pre-requisite courses if they hold a bachelor’s degree with a minimum 2.5 cumulative GPA.
• No GMAT, GRE, recommendation letters or essays are needed for the standard MBA.
• The standard MBA can be completed in as little as 16 months, and the MBA-CB in less than 12 months.

If you’re ready to take the next step, get started by learning more about your MBA options at University of Phoenix.

Watch more about What You Can Do With an MBA on YouTube.