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April 7, 1999

Wall Street Credentials

MBA
Master of Business Administration

Overview -- In the world of business and investing, an MBA may be one of the most ubiquitous credentials around. Unlike some of the other credentials listed here, the MBA degree is obviously an academic degree and not a professional designation.

MBAs work in a dazzling variety of capacities, and the number of academic specializations is practically unlimited. For instance, some folks with MBAs may have taken special courses in marketing while others have a concentration in international finance.

Those wishing to climb the traditional career ladder to middle and eventually upper management almost need an MBA to start that trek. Most analysts and a small fraction of brokers on Wall Street have MBAs, but it's far from a required degree to work in the investment field.

Requirements -- To get into a business school, a bachelor's degree from an accredited university plus an appropriate score on the Graduate Management Admissions Test (GMAT) is needed. After acceptance, approximately sixty semester hours of graduate-level work are required to complete any given program.

Every school has its own unique curriculum, but all MBA candidates will take courses covering accounting and finance, marketing, management/human resources, as well as completing a capstone business plan.

Time Needed To Fulfill Requirements -- The amount of time needed to complete an MBA program varies widely by school. A full-time student can get an MBA in as little as one-and-a-half years. A part-time student may take five or more years to complete the requirements for the degree.

Next -- Registered Investment Advisor (RIA)

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