Looking at graduate programs in business can be confusing as there are myriad choices. Options range from programs designed for students who have just completed their undergraduate programs to those for professionals interested in enhancing their career. Depending on your educational background, professional experiences, and the industry you are working in, it is important to do your research to see if this investment is necessary.
Masters in Accounting (MAcc)
If you are interested in becoming a CPA, you will need to complete a MAcc program. For admission, programs typically require 3-5 classes and either the GRE or GMAT. For the University of Michigan MAcc program, students need: Principles of Financial Accounting (ACC 300); Principles of Managerial Accounting (ACC 301); Intermediate Financial Accounting (ACC 312) ; Principles of Microeconomics (ECON 101); and Statistics (STATS 250).
Master of Business Administration (MBA)
A Master of Business Administration (MBA) degree provides a graduate education in core business areas, including accounting, finance, marketing, and management. For most programs, previous experience and the potential to succeed in a career path are key elements of the admission process. As a result, many candidates who apply to MBA programs have substantial professional experience. The GMAT will be integral in selecting appropriate schools. For admission it is important to explain why you need an MBA and why this year is the key time for matriculation. When considering an MBA, you should check target schools for specific academic, co-curricular, and professional admission requirements.
Depending upon your educational background, professional experience, and ambitions, there are numerous other business degrees on offer. These vary from giving recent graduates business coursework to programs designed for advancement within a specific business industry. The potential professional value of these degrees varies and it is important to research what jobs might be available to graduates of potential programs.
Options include: There are a variety of one year programs designed to add business coursework to a liberal arts undergraduate degree. Depending upon your own individual background, this type of program may not be necessary for entry into your chosen business field.
Industry-specific options include Masters in Management, Masters in Supply Chain, Masters in Entrepreneurship, Masters of Science in Finance, etc. Choosing between these programs depends upon your longer-term interests, target schools, and desire to work within a specific subfield of business. The entry requirements for these programs vary, but typically include the GMAT and directly-related professional experience. For the options available on the University of Michigan’s campus, have a look at the Stephen M. Ross School of Business.