Giving up full-time work for 18 months of hard study isn't easy, especially if you've enjoyed the comforts of the corporate world for the past few years. But many companies are now looking for those magical three letters on your CV before they will even consider you for a top management position.

Many others who come from a technical background see the Master of Business Administration (MBA) as vital in order to step into business management. But is it worth all the effort and expense in order to further your career.

Here we take a complete look at which MBA would be best for you, if at all, how much it will cost, how to finance it, where to study, which business schools are the best and ultimately what you can expect during and at the end of it all.

What is an MBA?
The MBA is a postgraduate and post-experience qualification designed for people with work experience looking to develop as professional managers or progress in their management roles. It is also a considered a 'must have' among ambitious business consultants and investment bankers.

MBA students are often looking to acquire the relevant skills, and broaden their business and commercial knowledge. Some are sponsored by their companies, others prefer to do the course independently, affording them more freedom to increase their salary afterward. Many go on to launch their own business or run successful companies, but in all cases the earning potential of graduates leaps up significantly.

The difference between a top-ranking business school and a non-accredited programme can be vast. The name that comes after the title is almost more important than the MBA itself, but MBA students unanimously agree that whichever course you eventually chose it widens horizons and delivers an understanding of all the major functions of a business.

The networking opportunities gained from working with other professionals on your course is also considered to be a huge advantage.

Not everyone automatically qualifies to study an MBA. In Europe, especially, a tertiary education and a significant amount of work experience are a prerequisite. You can study part-time, by correspondence, over the internet, or full time over one or two years, but not all schools are accredited by the Association of MBAs.

The length and quality of your experience, together with your personal motivation, are extremely important in securing admission to a good business school.

Why an MBA?
Since it's inception in the US in the 1960s the MBA has become a truly global benchmark qualification in the business world, with more than 20,000 graduates in Europe alone each year.

Although an MBA doesn't guarantee a giant leap up the career ladder and isn't suited to everyone, it is widely respected and offered by thousands of institutes and business schools around the world.

Contents
Everything you need to know about MBAs
A thorough guide to planning your MBA; when, where, how and whether or not it really will help your career.

The MBA maze
A practical guide to help chose where to study your MBA, whether to take a full or part time course, which continent is best, and which schools offer accredited courses.

Institute rankings
Hundreds of institutes worldwide offer MBAs. Not all are properly accredited, while others fiercely maintain top-notch reputations. Several lists are published annually; here's a popular selection.

Is an MBA worth it?
We assess the opinions and advice of business leaders and experts who take an objective look at how MBAs benefit different professionals.