For maximum students an MBA from a satisfactory college is a great investment. Although expensive, the payback period on the top 50 global schools is predicted to be less than 5 years. What is an MBA? A Master of Business Administration, normally referred MBA in Hong Kong to as an MBA, is a graduate-level diploma that covers a extensive range of enterprise fields, inclusive of advertising and marketing, accounting, operations management, finance and human resources. Students making use of for an MBA programme are generally required to have a Bachelor’s diploma ideally inside the associated discipline and are expected to excel in entrepreneurship, control and consultancy before and all through the direction. Admission Requirements The necessities for MBA programmes may differ from school to highschool within the UK, US and Australia, but we've compiled a listing of the maximum commonplace documents you want to put up for a hit admission: Proof of your previous stages Academic transcript English take a look at ratings CV detailing a giant work experience (from five to ten years relying on the MBA kind) Essays Letters of advice Volunteer work and network carrier activities GMAT (Graduate Management Admission Test) or GRE (Graduate Record Examination) Interview with an MBA programme representative In the UK holders of an Upper Second Class (2:1) bachelor degree from a recognized Nigerian college and at least three years applicable submit-commencement work enjoy could be frequently taken into consideration for direct admission. Applicants need to be at the least 25 years old by the point the programme begins. Tip: Applicants with a Lower Second Class (2:2) diploma and huge paintings experience can be taken into consideration if you may show sufficient expert engagement. Course Length The length of the route depends on the focal point and length of your MBA. There are complete-time (two years), component-time (3 years), elevated (completed in twelve months), executive (ten years enjoy inside the commercial enterprise global) and dual (mixed with every other diploma) MBA programmes to be had throughout 3 popular study locations - the United States, Australia and the United Kingdom. Cost An MBA direction is one of the most high-priced but rewarding examine alternatives, with tuition prices beginning from £15,000 to £seventy five,000 on common within the UK, from $60,000 inside the US up to $170,000 at pinnacle universities including Columbia, Harvard and MIT (Sloan) and as low as $7,000 in line with yr at some much less excessive-ranked institutions within the US. In Australia your MBA plan may be probable to price round AUS$22,000 minimum and approximately AUS$95,000 if the school is in the top ranking. Pros An MBA is one of the maximum prestigious management programmes and drastically increases your earning ability globally. Employers recognise MBAs as a signal of nice enterprise control education mixed with revel in within the international market. Most of the United Kingdom, US and Australian universities have a scholarship scheme which allows global college students reduce part of the excessive MBA prices and hold their pocket secure. MBA networking along with your class individuals often results in lifelong relationships, new thrilling activity opportunities and commercial enterprise partnerships. Cons With marvelous training expenses, MBA is arguably the simplest manner to a happy career if searching at different extra low priced possibilities which include MSc or MA in numerous enterprise fields. Consider that expertise also ‘ages’ and at 45 your MBA can be as valued as a BA at 25. The programme’s pedigree and college’s brand and rating rely. You may also have pay ten times extra for such guides. Job Prospects According to Forbes, submit-MBA salary is up 50% over pre-MBA pay and through the end of 5 years in paintings upon commencement, the earnings increases at eighty% over the beginning publish-MBA pay for complete-time students. Let’s say, you had been paid $75,000 at commencement and after 5 years at the task this is possibly to growth to $a hundred thirty five,000. In addition to supplying a theoretical educational framework MBA programmes will regularly location you to work as a consultant in a client organization and introduce to a number global clients that will help you set up a splendid career. Differences among USA, UK and Australia for an MBA Generally Australian MBA programmes are much less expensive than inside the US, with the UK topping the list. All MBAs are across the world acknowledged with college ranking being a decisive factor in future career fulfilment. Application Deadlines MBA packages require a thorough evaluation of the files and a face-to-face interview which can be conducted through Skype in some cases. It is high-quality to use early within the year in January or February for publications that begin inside the autumn, September or October, so one can be ordinary and follow for a visa earlier. Once regular you may be issued a CAS variety which will be part of your visa application from Nigeria. Motivation For many college students the motivation for pursuing an MBA is rooted inside the status and ability of increasing one’s annual income. A Master of Business Administration degree is a completely aware choice that drives a expert Nigerian to go back to high school after at least one degree and may open up numerous career development doorways.