GRADUATE
STUDIES
Graduate business degrees advance careers. Even people whose undergraduate degrees are in fields other than business, often enroll in graduate business programs because they find that the path to advancement is through management.
Graduate degrees may serve as springboards for careers for several reasons. First students may acquire skills needed for a new position. Also a graduate degree may overshadow poor undergraduate performance. In addition, accountants may apply graduate courses to meet the 150 hours requirement.
Masters of Science (MS) degrees in business offer specialized study. Some popular examples include finance, information systems, taxes, and accounting. MS degrees generally require a thesis and comprehensive exams. However six hours of additional courses often can substitute for the thesis. Oral and/or written comprehensive exams take one or two days. The exams cover any topic related to the subject.
Masters of Art (MA) degrees are offered in liberal arts such as economics. In addition to comprehensive exams and a thesis, MA degrees often require a foreign language.
MA applicants often need two semesters of a foreign language for admission, and two more semesters of foreign language are often required during graduate studies. Then in some programs, MA candidates must also pass a foreign language competency exam. The reasoning is that students should learn a foreign language in order to read scientific papers in the original language. Foreign languages are considered even more critical in the current global business environment. However some programs allow students to substitute computer programming languages for foreign languages.
Masters in Business Administration (MBA) degrees are very popular with graduates from a wide range of undergraduate disciplines. The MBA degree is relatively easy to earn because usually there is no foreign language requirement, no comprehensive exams, and no thesis.
Graduate business programs generally include 30 semester hours of "foundation" courses and 30 semester hours of required courses. The foundation courses correspond roughly to courses required for a bachelor's degree in business. If an applicant has earned a grade of "A" or "B" in a listed undergraduate course, the corresponding foundation course will usually be waived.
The foundation courses include calculus, statistics, and computer courses as well as business courses. Students may earn a MBA degree with as few as 30 semester hours, but even a student with a bachelor's degree in business will be generally required to take a few foundation courses. However students with other majors may need all foundation courses to complete a MBA program for a total of 60 semester hours.
Graduate courses require roughly twice as much effort as undergraduate courses. For example a graduate principles of accounting foundation course covers as much material as two undergraduate principles of accounting courses. Term papers or presentations may be required weekly, and courses may require extensive readings.
Graduate programs follow strict rules. The five year deadline for finishing the degree begins with the first required course, so the best strategy is to complete the common body courses BEFORE beginning the required courses.
Also very few graduate hours may be transferred from another school, so students should finish the graduate program where they begin. Many graduate business programs do not have residency requirements, but some require two consecutive semesters of full-time enrollment.
Graduate programs demand higher grades than undergraduate programs. Students may earn a minimum grade of "C" on only ten percent of the courses.
Graduate classes require many hours of hard work including group projects and presentations. Personal computer skills and research skills are essential. Usually one or two Economics courses are calculus based, and statistics underlie finance and management science courses. However, only a few graduate business courses are math intensive.
The emphasis in undergraduate courses is in basic technical skills which are generally explained in the textbooks. However new ideas take several years to appear in textbooks. In contrast, graduate courses emphasize current topics. While graduate courses generally use textbooks, they also use periodicals (magazines or journals). Faculty often share the results of their own original research and may even allow students to participate in the research. However secondary research and preparing research papers predominate in graduate studies of all disciplines.
The normal full-time load in graduate school is twelve semester hours. The maximum load is fifteen hours and the minimum full-time load is nine hours. Most part-time graduate students enroll in six semester hours.
Admission to graduate programs usually require entrance exams. The Graduate Management Aptitude Exam (GMAT), the Graduate Records Exam (GRE) or the Millers Analogies Exam may be required. Entrance exams must be taken by the middle of the semester before the desired date of admission so that the scores are available in time.
Admission to a MBA program is relatively easy because there are many competing programs. Usually a formula is used for admission(200*GPA + GMAT >= cutoff value). Cutoff values range from 1,000 up. Higher scores improve an applicant's bargaining position because schools are more likely to waive courses if applicants score well.
Also graduate school applications require faculty recommendations. If the application package includes a reference form, students should fill out and sign their portion of the form before asking faculty to complete the form.
The application packet may also include envelopes that faculty "seal" by writing their name across the flap. Any request for a recommendation should include a stamped/addressed envelope. Students should ask faculty BEFORE sending them a referral form. Keep in touch until admissions verify receipt of the form.
Many prestigious business schools serve full-time students who enter graduate programs directly after completing their undergraduate program. These prestigious programs often include highly recommended summer programs such as internships or foreign study.
However universities offer several types of other graduate business programs. For example, night programs offer opportunities to part-time students with full-time jobs. Many offer courses during the summer as well.
Executive MBAs require applicants to have many years of management experience. Basically the experience substitutes for the common body of knowledge. Executive programs generally offer courses during weekends.
Alternatives to traditional programs exist, such as open campus schools and Internet based education. Most students earn a degree from a conveniently located school, but in some circumstances only alternative programs are feasible. Before considering an alternative programs, students should explore the attitude of their employer or probable employers. The most widely accepted alternative programs are those which have grown from respected traditional programs.
A masters degree is the next step towards earning a PhD, which is usually required to teach in a college or university. While it is possible to earn a PhD without first earning a masters degree, it is not a good plan. The difficulty lies in the time limits.
PhD programs have a five year time limit for completing all coursework and passing all comprehensive exams. Then PhD candidates must complete a dissertation in the next two years because PhD programs have an overall seven year limit.
Students who pursue a PhD without first earning a masters degree still must take all of the same courses required for the masters degree. Therefore it is more prudent to complete a masters degree BEFORE entering a PhD program. The five year limit on masters degrees plus the five year limit on PhD coursework equals ten years. It is possible to complete all of the PhD coursework within the five year limit without completing a masters degree first, but unforeseen circumstances, such as illness, may interfere.
Ask faculty members for guidance regarding graduate school. College teachers are often willing to share their experiences of graduate school.
Apply for fellowships (grants) or research assistantships (RAs). RAs generally work about twenty hours per week for a little more than minimum wage (much like workstudy). However, schools waive tution for RAs, not a insignificant amount especially for out-of-state students or at a private university. On the other hand, RAs are generally limited to taking nine semester hours of coursework per semester. (Twelve hours is full-time and fifteen hours is the limit.) Professional organizations offer much financial assistance, especially for minority students and PhD candidates.
GMAT, GRE, and LSAT Information
