Business Schools Key Terms

Study common business school key terms

Business schools offer various degrees to take the business professional from competent employee to top-notch talent. Business schools vary according to the quality and types of programming offered. While many people opt for a master of business administration (MBA), there are other degree options within most business schools. In addition, business schools have adjusted the structure of their programs such that part-time or accelerated programming is available. If you're considering entering business school here are a few terms to keep in mind.

Graduate management admission test (GMAT)

The Graduate Management Admission Test (GMAT) is a standardized exam that enables business schools to evaluate a candidate's qualifications for advanced study in the field of business management. The GMAT measures a candidates verbal mathematical and analytical writing skills.

Master of business administration (MBA)

The master of business administration is a professional degree that focuses on business communication. An MBA offers the business professional business knowledge, leadership abilities and networking. Specifically, students learn about business strategies and concepts through direct education and hands-on activities. In addition, an MBA provides students with leadership training and a basic network of fellow students to build upon.

Professional master of business administration (PMBA)

The PMBA is considered to be a part-time program, which allows business professionals to advance their career while still maintaining their full-time jobs. PMBA classes are frequently offered on nights and weekends. Some programs have a strictly weekend option. Like other MBA programs, students enroll with a group of students or cohort and continue through to graduation with that same group of students.

One-year MBA

One-year MBA's are offered by four of the top-rated business schools in the United States, including Columbia Business School, Cornell University, Emory University and Northwestern University. These programs last approximately one-year to 16 months in length. They are designed for professionals who are willing to go to school full-time, already have a business or management background, and do not need an internship to break into the field.
Emory University Goizueta Business School provides specific details about the one-year MBA, including information about the ideal candidate, the structure of the program, student profile and program benefits.

Executive master of business of administration (EMBA)

EMBA programs meet the educational needs of business leaders, managers and other executives in the business field. Students enter the program with a cohort of students and typically complete classes within two years or less. Many EMBA students are older and have more experience than other business school students. Specifically, the average age of an EMBA student is 36 years, with approximately 12.7 years of executive experience. Some of the most recognized EMBA programs in the country include the Wharton School at the University of Pennsylvania, Northwestern University, Kellog School, University of Chicago, New York University, Duke University, Columbia University, University of Michigan and UCLA.

B-school profiles and rankings

Business schools are not all created the same. While some business schools have excellent reputations, others won't exactly help you get a job. Most b-school profiles and rankings are done on several factors, such as corporate recruiter scores, mean post-graduate starting salary and bonus, employment rates for graduates, student selectivity, peer assessment scores, placement success, mean undergraduate GPA, mean GMAT scores, overall rank, specialty rankings and acceptance rate.