The Master of Business Administration (MBA) is one of the most popular and advantageous graduate degrees in the United States for good reason. MBA degree programs teach a broad set of skills and validate a versatile knowledge base. Business school graduates have a mix of business, technology and interpersonal soft skills that make them effective and adaptable. The traditional MBA curriculum is versatile and covers concepts and practices useful in the for-profit and non-profit sectors and in government.
Given the ROI of the MBA, you may be wondering why aspiring business professionals don’t enter top MBA programs immediately after earning a bachelor’s degree. The answer lies in the MBA work experience requirement. Most MBA programs require applicants to accrue some business experience before they enroll, and MBA admissions committees scrutinize applicants’ work histories carefully when reviewing applications. Many waive GMAT score requirements or other admissions requirements if students have adequate work experience.
While some graduate school of business programs such as The SMU Cox School’s MBA Direct admit early-career MBA applicants, programs that accept students fresh out of undergraduate degree programs are not the norm. At the other end of the scale, there are MBA programs that cater to later-career professionals with significant leadership experience. The SMU Cox School of Business online MBA program’s work experience requirements exist in the sweet spot in between. Applicants typically have about eight years of professional experience and are looking to move into leadership positions. Many professionals choose this option because they want to continue working full-time while studying.
Finding an MBA pathway and an MBA program that aligns with your professional experience is a matter of looking critically at your career goals and experience, researching your options and making sure you understand the application requirements at the schools you’re considering.
Why Do Most MBA Programs Require Work Experience?
Unlike bachelor’s programs, which provide students with foundational knowledge to enter the working world, accredited MBA programs teach already-qualified business professionals skills they need to advance in their careers. Graduate business schools have work experience requirements because students need that experience to handle the rigors of the typical MBA curriculum.
Real-world experience gives MBA students the time management skills they’ll need to balance their professional, academic and personal responsibilities. More importantly, it gives them a framework in which to navigate the advanced coursework in most programs.
Classes in on-campus and online MBA programs cover advanced competencies and leadership theory. For example, a core course in the online MBA program at SMU Cox covers managing and leading people. The coursework is geared toward business professionals who already understand concepts like workplace engagement and the importance of teamwork. MBA students never have to ask, ‘When will I use this?’ because they know exactly how the skills they are building in graduate school apply in business. Real-world experiences such as immersions and career coaching reinforce classroom learning and improve comprehension.
Another reason admissions committees for MBA programs prefer or require that applicants have work experience is because these programs incorporate peer-to-peer learning. Cohorts made up of experienced professionals learn not just from the MBA faculty but also from one another when they share what they’ve learned over the course of their careers.
Do You Need Work Experience for the SMU Cox MBA Program?
Most business schools prefer to admit MBA applicants with at least five years of work experience. The SMU Cox MBA Direct program is one of the few graduate business programs that admit students with less than three years of work experience. In fact, most MBA Direct students have just over one year of work experience.
Leadership at the SMU Cox School of Business created the MBA Direct program during the COVID-19 pandemic because they saw a need for a new generation of crisis-ready, emboldened leaders who could respond to change. Shane Goodwin, Associate Dean, Executive Education and Graduate Programs, said that “Cox recognized the need to exercise bold, agile leadership” and that it was “time to throw out yesterday’s playbook – encourage experimentation, embrace action and adapt quickly to get ahead of the changing circumstances.”
Students can enter the program directly out of college, provided they secure full-time employment. This is important because over the three years it takes to earn a master’s degree, SMU Cox MBA students apply what they learn in the workplace as part of the learning experience. The online MBA Direct program combines theory and practice, supporting career advancement.
What Online MBA Programs for Working Professionals are Like
Mid-career MBA programs at top business schools stand out because their classes represent a diversity of backgrounds and experiences. Students come from banking and finance, healthcare, technology, retail sales, the non-profit sector, the service industry and even the military. Their combined experience enriches the on-campus and virtual learning environments.
The core classes in the online MBA program teach advanced concepts related to mergers and acquisition, negotiation and leadership – all of which pave the way for success at the executive level. Online MBA students participate in real-world immersions in partnership with established organizations. They also receive personalized career coaching with an experienced mentor who guides them as they work toward short- and long-term goals and make professional development decisions.
Mid-career MBA programs for working professionals attract students who have a clear vision of the future but need to develop leadership skills. According to a U.S. News & World Report survey of 124 ranked online business school programs, 91 percent of online MBA students worked full-time while enrolled. Employers provided tuition assistance for more than one-third of these students, who could learn, grow their professional networks and hone their skills for a smaller financial investment.
How Much Work Experience Should You Accrue Before Getting an MBA?
There is no one correct answer to this question. Choosing the right MBA program involves assessing fit. Look at the below summaries of three MBA options offered by SMU Cox and choose the pathway that best aligns with your qualifications and ambitions.
The MBA Direct
If you are an early career professional with limited full-time work experience who wants to jump-start a future in entrepreneurship or business administration, the MBA Direct program is the ideal choice. You can earn this degree in just under three years while attending live online sessions and on-campus elective classes, studying under world-renowned faculty and taking part in a global immersion experience that will challenge you to tackle corporate obstacles in a fluid international market.
MBA Direct students work with mentors who offer feedback and advice on managing a career alongside the demands of a busy personal life. This MBA program is a good fit for proactive early-career business professionals like current SMU Cox student Nia Henson, who said she enrolled in the program so she would be ready to take advantage of advancement opportunities as soon as possible.
The Online MBA
If you are four to six years into your career and looking to grow into management and leadership roles without sacrificing income or opportunities for advancement, enrolling in an online, part-time MBA makes sense. Distance learners receive all the benefits of a full-time MBA program with the added flexibility of a virtual curriculum. At The Cox School, online learning is “flipped,” so faculty deliver pre-produced online classes and content asynchronously, which students review before each live, 90-minute interactive learning session.
MBA students in the online program do not miss out on the immersive, hands-on experiences renowned at SMU Cox. You will still be matched with a Career Coach who will help you define your goals and set a trajectory for the future. Additionally, the benefits of SMU Cox’s networking opportunities are unmatched. SMU Cox alumni, MBA graduates and faculty frequently mentor and advise current MBA students and open doors in their industries to new graduates.
Once you have learned all you can about the various graduate degree programs for business professionals, the next step is working your way through the MBA application. Whether you’re a relatively recent undergrad or an accomplished business leader, now is the right time to start working toward the career of your dreams.