Are you considering pursuing a Master’s in Business Administration? Do you have an interest in multiple fields of study? Did you know you can study for two degrees at the same time? That is precisely what a dual MBA program allows you to do. Earning a dual MBA involves adding an additional master’s degree to an MBA to provide a graduate student with more skills and expertise in a particular area or multiple areas of interest.
A dual MBA is a fast track to completing two master’s programs. This is due to the fact that core courses in one degree program can actually double as electives in another, and you can complete two degrees in a shorter amount of time. It’s an excellent way to get an education in business that suits a graduate student’s needs, providing a more comprehensive and interdisciplinary education than would be provided with only an MBA. Regardless of what direction a business student takes, completing a dual MBA is the recommended method of creating an excellent resume.
MBA Specializations
When considering a dual MBA, it’s essential to choose an area of specialization in one’s MBA that is of interest, will be worthwhile, and will have the most positive impact to be more competitive upon graduation. Competition is fierce, and employers are looking for the cream of the crop. There are a substantial amount of specialization areas available out there. A few examples include human resources, marketing, finance, management information systems, information technology, innovation, entrepreneurship, agribusiness, international business, and more. No matter what second degree you choose to pursue, the firm foundation in general management you receive from an MBA will impress employers and equip you for management roles in any field.
Second Master’s Degree
The second master’s program requires due consideration. It should be a degree that will provide a graduate with more prospects after graduation. Upon completion, students will hold two master’s degrees, providing them with an advantage over the competition. Here are some popular options for the second degree within dual MBA programs:
- MBA/JD (Juris Doctor) – Professional Doctorate in Law
- MBA/MD – Doctor of Medicine
- MBA/MPH – Master of Public Health
- MBA/MPP – Master of Public Policy
- MBA/MSEd – Master of Science in Education
- MBA/MS in Journalism – Master of Science in Journalism
- MBA/MS in Healthcare Management – Master of Science in Healthcare Management
A great example of excellent dual MBA degree programs can be found at the University of Pennsylvania’s Wharton School. It offers 13 different options, including:
- MBA/Healthcare Management
- MBA/MSEd – Education
- MBA/MSE – Engineering
- MBA/MD – Doctor of Medicine
- MBA/MSN – Nursing
- MBA/MSW – Social Work
- MBA/VMD – Veterinary Medicine
Professional Advantages
Along with streamlining two graduate degree programs by taking them in sequence and saving time and money, a dual MBA provides an edge when it comes to entering the job market. Here are a few professional advantages that come with a dual MBA degree.
Skill Set
Graduate students will be highly qualified in their field. The growth obtained while completing two graduate degrees at one time is extraordinary. A broad skill set, including leadership, management, analytical, time management, decision-making, and strategic problem-solving skills, coupled with an in-depth wealth of specialized knowledge, equips students to succeed in their career endeavors.
Opportunities
Even though not guaranteed, dual MBA graduates have a higher possibility of securing more advanced jobs than those with just one graduate degree. The degree opens doors, improving the prospects of any graduate. The profitable opportunities are much more likely to start right off the bat, with a good benefits package and salary. Advancement opportunities are in abundance, as well. A dual MBA is a wise choice for those who want a better chance of breaking into higher management levels soon after graduation. The main goal is to become an expert in the field, a go-to guide who can handle various situations with ease.
Job Security
At a time when the economy is more unpredictable than ever, having a dual MBA provides protection against job cuts and the possibility of a recession. Students are equipped with a broader selection of skills and knowledge to handle a vast area of complex issues.
Versatility in Career Selection
Opting for a dual MBA means having more choices when it comes to obtaining a position. Students are better equipped to enter the job market and perform a variety of job responsibilities. This is especially beneficial for anyone who wants to try new things, always open to change.
Networking
Achieving a dual MBA makes it easier to begin networking during studies, internships, and the interview circuit. Once out in the field, it is vital to communicate and make as many valuable contacts as possible. The business world is fast-paced, and it pays to know the right people.
Entrepreneurship
With a dual MBA, it is much easier to get a leg up on starting a business. In a time when it is best to strike when the iron is hot, grabbing hold of an inspirational idea and running with it can be a smash. One never knows when the next great idea will come along, and a dual MBA can help graduates latch on to opportunities.
Having the Right Tools
For anyone wanting to be in the know in the world of business, having a dual MBA is the key to success. As with any job, the more knowledge and training an individual has, the better a chance at thriving. A dual MBA means having the whole package when it is time to get to work.
Next Steps
If you are contemplating pursuing a dual MBA degree, here are a few thoughts to mull over before you make your decision:
- Make sure you have the same passionate interest in both an MBA and a different field of study.
- Know for certain which career path you desire, so you can confidently know that a dual MBA is right for you.
- Studying two graduate degrees of this caliber takes an advanced level of focus, time management, management skills, problem-solving ability, and flexibility. Do you possess these qualities?
- Even though a dual MBA costs less than two separate graduate degree programs, it is still a costly venture. Find ways to secure funding for your education.
- Check to see if you have the available time to commit to a dual MBA. A dual MBA can take three or more years to complete as opposed to a typical two-year MBA program.