7 Things to Consider When Choosing an MBA Program
7 Things to Consider When Choosing an MBA Program
July 22, 2010
If you are looking into an online MBA program, there are probably a lot of people placing an emphasis on what school you will attend (your parents, professors, and advisors, for starters). However, you should stop for a moment before limiting yourself to the top tier schools. Certainly they may offer you some advantages over the others, but narrowing your field of opportunities is almost never your best bet. There are a lot of factors to consider before you choose an MBA program, so mull over the possibilities before you make a hard and fast decision.
- What are the advantages of a top school? There are many reasons to choose one of the top business schools. To begin with, it looks good on a résumé. The sad fact is that people are geared towards brand recognition, so having the name “Harvard” on your application may just put you at the top of the list for hire. In addition, many schools have programs that will help you get internships and even jobs. Plus, your networking opportunities will probably be a lot better at a top school.
- What are the disadvantages of a top school? Unfortunately, you’re not the only one who wants to attend the best universities. There is stiff competition for admission to these programs. They are also expensive and because scholarships are limited, you may have a lot harder time securing assistance for the outrageous price tag. Plus, you need to be realistic. Can you make enough money upon completion of the program to pay off your student loans?
- Is location an issue? This is an important question to answer before you get accepted into a school on the other side of the continent. Can you pay for school and living arrangements, or will it be more prudent to live with your parents while you attain your degree? Or there may be other things holding you close to home. In any case, you wouldn’t want to get accepted to the school of your dreams only to have to turn them down, so don’t waste the application fee if it’s not really an option.
- Is money an issue? This seems pretty self-explanatory, and yet you hear stories on the news about people who are suing their alma mater because they graduated, couldn’t get a job, and are now facing crippling debt due to biting off more than they could chew. Look at the big picture. If you don’t think you can pay your student loans without earning a 6-figure salary out of the starting gate, maybe you should consider a less expensive program.
- What are your interests? Your area of study could make a big difference in which school you choose to attend. If you’re interested in art, for example, you wouldn’t want to apply to a school that specializes in technology. So before you start sending in applications willy-nilly, think about what you want to focus on and find a school that fits the bill.
- What are your goals? If you want to become a CEO of a Fortune 500 company, you may not choose the same school as someone whose ultimate goal is to own a local diner. Ruminate on your ultimate career path before you choose a school so you don’t come out with a degree that is inadequate to suit your needs.
- What are your job prospects? Many schools aide graduating students in the area of job placement, and while some have enough influence to place you with top companies around the country, most operate locally. Each school may also have certain industries that they cater to. So if you’re interested in a particular location or field of study, choose a school that boasts high job placement in those areas in order to ensure that you start working as soon as you throw your mortarboard.
via onlinemba.com