MBA degrees have become the gold standard of the business world. More than 62 percent of all CEOs hold a MBA or higher from an accredited program. Why? An MBA opens up more doors in the business world than any other type of degree. Not only this, but an MBA fetches higher salaries, excellent advancement opportunities, and a chance to become an entrepreneur. Its no wonder an MBA is one of the most attractive degrees in the world.

An MBA (Master of Business Administration) can prepare you for a lucrative career in upper management, portfolio management, or consulting. You can also establish a career as a marketing director, human resources manager or CEO. In an average market, an MBA holder has the potential to earn $100,000+ per year working in just about any industry. At the highest levels, a Fortune 500 CEO earns an average of $800,000 per year, plus bonuses and other perks.

Top executives are everywhere. In fact, there are more than 2,133,500 million in the business and management field today. This includes 400,400 chief executives and 1,733,100 general and operations managers.

To become a member of the top executive club, it takes dedication and hard work. It takes a minimum of six years to earn an MBA, beginning as an undergraduate. A traditional MBA degree program requires successful completion of:

• -Accounting
• -Business Strategy
• -Economics
• -Finance
• -Human Resources
• -Marketing Management
• -Manufacturing and Production
• -Operations Management
• -Statistics
• -Technology and Information Systems

The core curriculum accounts for 40 percent of the degree requirement. Specific course may include leadership development, global economic environment, social networks and social capital, managerial statistics, operations strategy, financial planning and analysis, strategy structure and incentives, financial accounting, marketing strategy, and managerial economics. 

Most undergraduates interested in pursuing an MBA typically earn a Bachelor of Business Administration (BBA), a Bachelor of Science in Business (BSBA), or a Bachelor of Management Studies (BMS).

An MBA program should include the classes listed above, along with an internship. Most MBA programs follow the traditional curriculum, while some programs, such as online programs, may differ slightly. The best thing to do when searching for a quality MBA program is to make sure the program is accredited by a recognized agency such as the Association to Advance Collegiate Schools of Business (AACSB). You should also compare the curriculum to a top ten MBA program such as:

1. 1. Harvard Business School 
2. 2. INSEAD (France)
3. 3. IMD (Switzerland.)
4. 4. MIT: Sloan School of Management 
5. 5. Stanford University Graduate School of Business  
6. 6. University of Pennsylvania: Wharton Business School
7. 7. University of Chicago Graduate School of Business  
8. 8. Columbia University Graduate School of Business
9. 9. London Business School   (UK)  
10. 10. Northwestern University: Kellogg Business School   

There are hundreds of quality MBA programs in the U.S. and abroad, so just because you didn’t graduate from a top ten program doesn’t mean your chances of making it are any less. Most MBA programs are challenging, competitive and rewarding, so give it your all and you’ll go far.

To review a list of recognized accrediting agencies visit the U.S. Department of Education website at www.ed.gov for details.

Bright, eager—and unwanted. While unemployment is ravaging just about every part of the global workforce, the most enduring harm is being done to young people who can’t grab onto the first rung of the career ladder.

Affected are a range of young people, from high school dropouts, to college grads, to newly minted lawyers and MBAs across the developed world from Britain to Japan. One indication: In the U.S., the unemployment rate for 16- to 24-year-olds has climbed to more than 18%, from 13% a year ago.

For people just starting their careers, the damage may be deep and long-lasting, potentially creating a kind of “lost generation.” Studies suggest that an extended period of youthful joblessness can significantly depress lifetime income as people get stuck in jobs that are beneath their capabilities, or come to be seen by employers as damaged goods.

Equally important, employers are likely to suffer from the scarring of a generation.

This danger of “scarring” seems real, but if you find yourself in this group you have to be proactive and NOT let this hurt you. That may sound easy, as options are now clearly limited. However, on the other hand, the dire condition of the economy can also be used to alter your perceptions of what you need at this time in your life. Many graduates expected to get a high-paying job immediately upon graduation, and now many of those job aren’t available. Yet is that what you really need RIGHT NOW?

In many cases the answer is no. Maybe you can now consider a cool internship that pays little but offers an incredible experience. Perhaps you can take a much-needed break and go on that backpacking trip that you dreamed of doing after college. This of course depends on your funds, though the cost of travel has plummeted.

Alternatively, you can be aggressive about doing something entrepreneurial or contracting out services online.

We know if sucks out there, but you have to make the best of the situation you’re facing. Get motivated, and good things will happen!