Going to a business school, or B school, provides you with the education needed to build a successful business career. Thriving as a business professional involves developing the right set of skills and understanding business concepts. While you might pick up a bit of this knowledge and build a few skills working in business, having a B school degree can help you excel. Learn more about B school, including how it can help you build your business career.
What Is Business School (B-School)?
What is B school? A B school, or business school, refers to colleges and universities specializing in business education, including graduate schools and undergraduate schools. Students who apply to B schools typically face a lot of competition, since rejection rates can be high. Going to a business school offers a solid education in different business concepts and skills.
Topics of Study at Business School
When you go to business school, you can expect to study the basics of business and finance, such as accounting, entrepreneurship, human resources, business ethics, and marketing. From communication and critical thinking to problem solving and decision making, your classes can help you develop skills that are important for a business career, as well. You’ll also gain leadership skills through classes focusing specifically on management and leadership. Some business schools have concentrations available to provide students with a specialized education in a particular area, such as healthcare administration, business analytics, or finance.
Pros and Cons of Business School
Going to business school might seem like the best way to ensure a successful business career. However, it’s important to weigh the pros and cons before making this decision. Business school can be costly to attend, especially at the most prestigious institutions. If you’re considering going this route, you should compare the costs of different B schools and their potential earnings after graduation. This can help prevent you from ending up with a high debt level. Keep in mind that you can find business schools that offer a high-quality education at a lower cost compared to the most well-known schools.
While cost is a potential drawback, you should consider the knowledge and skills you’ll gain with a B school degree. With this kind of education, you’ll have the training needed for taking on a leadership or management position in your company or starting your own business as an entrepreneur. This can help offset the cost of going to B school.
B School Degrees
B school degrees can help you build a satisfying career in the business world. Undergraduate degrees in business can get you started on the training needed for success. Graduate degrees provide an even deeper exploration of business concepts and help you build new skills and strengthen your existing skills.
Bachelor’s in Business Administration. A bachelor’s in business administration is an undergraduate degree you can earn in business school. This kind of degree program introduces you to business concepts and skills, such as strategic problem solving and effective communication. When you go to business school for a bachelor’s in business administration, you might have the option to specialize in a certain area, such as accounting or marketing. You might also decide to move on to a graduate degree after earning your undergraduate business degree.
Master’s in Business Administration. A master’s in business administration (MBA) is a graduate degree. This degree program includes classes that can help you learn new skills and improve your current skills while also studying business concepts in more depth. You might have the option to choose a concentration when you’re in a master’s in business administration program, such as business analytics, finance or healthcare administration. In order to get into one of these programs, many business schools require students to have a certain amount of work experience. Most MBA programs require applicants to have a bachelor’s degree, but often any major is accepted.
How Long Does Business School Take?
The amount of time you’ll spend in B school depends on the type of degree program you choose. A bachelor’s in business administration typically takes four years to complete. A master’s in business administration usually takes around 2 years to complete, although some business schools offer accelerated options that allow you to earn your degree in a shorter amount of time.
Is Business School Hard?
Business school can be challenging, especially when you’re learning new concepts or working on developing new skills. Keep in mind that getting into B school can also be difficult, especially at schools that are more competitive. When you’re in a business school degree program, developing good study habits can help you do well on projects, exams, and other assignments. While you might need to put in a lot of effort to earn your degree, you’ll be rewarded with a quality education and the skills needed to become a business leader.
How Much Does Business School Cost?
The cost of business school can vary considerably depending on the school you attend and the kind of degree program you’re in. According to MBA Today, for example, tuition costs for an MBA degree program can range from $55,000 to over $161,000. An undergraduate degree might cost less than a graduate degree, and you might pay less when you choose an online or accelerated program compared to a traditional MBA program. Keep in mind that there are several ways to pay for business school if you choose to earn a business degree.
Other Tips Toward Building a Successful Business Career
Going to B school for your undergraduate or graduate degree is just one way to thrive in the business world as a leader or entrepreneur. The following tips can also help you build a rewarding business career.
Learn Your Strengths and Weaknesses
Knowing what your strengths and weaknesses are can help you become a more successful business professional. Identify your strongest skills, so you can put those to use when needed, such as teamwork skills when you need to collaborate on a project. You should also determine what your weaknesses are so you can work on improving those areas. For example, you might need to improve your communication or decision-making skills if you struggle with these.
Build Your Professional Community
Your professional community can play a big role in helping you achieve success in business. You should surround yourself with people who will challenge you. These individuals can help you develop stronger skills and work on becoming a more effective business professional or business leader. Networking is also an important part of building your professional community. Attending conferences and other events in your field, for example, can help you meet or network with other professionals who can become part of your community.
Find Passion or Purpose in What You Are Doing
When you discover your purpose or have a passion for what you’re doing, you’ll be on the path to success. Being passionate about your work or having a sense of purpose can provide you with encouragement that keeps you motivated and focused on reaching your goals. Think about what you want to achieve in your career and how you’ll get there.
Get Leadership Experience
B school can provide you with a way to learn about leadership and develop leadership skills, but you’ll also need actual experience. Look for ways to gain this kind of experience at school, at work, or in other areas of your life, such as leading a community group. Gaining leadership experience helps you improve your management or leadership skills, so you can become a successful business professional.
Develop a Growth Mindset
Having a growth mindset means your mind is focused on improving your skills instead of feeling as though there’s no room for improvement. With a growth mindset, you can also learn new skills that you’ll need to thrive in your business career. Focusing on the process of accomplishing your goals, rewiring your brain, using encouraging words rather than negative ones when thinking about your goals, and embracing imperfections are all ways that you can work on developing a growth mindset.
Continue Your Education
Earning a graduate degree is a great way to build a successful business career. If you’ve earned your undergraduate degree or are graduating soon and you’re interested in learning about MBA degree options, contact the Gary W. Rollins College of Business at The University of Tennessee at Chattanooga. At UTC, our MBA programs include a Flexible MBA program with online and in-person classes as well as a 100% Online MBA program. We also offer MBA specializations.