How to find the best MBA program for you
Have you ever wondered about getting a Master’s degree in Business Administration, but failed to find the right course? With the advent of Web 2.0, there’s just too much information out there which can befuddle you outright. So many institutes, so many courses, so little time!
So, what do you do?
Break it Down
The most helpful thing for you to do at first is to perform a step-by-step analysis. Start thinking systematically about the choice of your school. Choosing the right school depends on many factors. So, start with the obvious.
Are you willing to enroll in a full-time course, part-time course or do you prefer distance learning? There are different sources for finding suitable full-time or part-time courses, scattered all over the internet. If distance learning is your choice, you need to find the institute which offers an online MBA course. So, you will have to search for these schools on various authoritative websites like MBA.com. Make a list of all institutes which fit this criterion.
Next, filter out the institutions based on their accreditation by Financial times, Business week, The Economist, Us News World Report, or Association of Advanced Collegiate School of Business AACSB, AMBA and EQUIS. You can opt for Canada’s accredited online MBA program if your interests align with distance learning and if you think your future lies in Canada. Out of 42 B-schools, there are a few good institutes like the Dalhousie school which offers online MBA programs.
Check for Specialization
Now that you have shortlisted the schools based on their ranking and capability to cater to an online MBA program, take your filter to the next level. Start finding out if these institutes have the faculty or subject of your interest. Before joining an MBA program, you must either have experience in an industry or prove your skills in certain areas of business such as finance, administration, marketing, project management, financial analysis, fund management, executive operations, sales, etc. Employment chances vary according to your choice of program.
Check if your chosen institute offers a double degree. The additional benefits are worth it from the perspective of employment. Specializations like Health Management are a bit rare in the pot, which makes your search easier if you have that background.
Narrow it Down to finances
What would an MBA be without thinking about finances? Full-time and part-time courses are quite costly, especially if you wish to gain entry in the top schools situated in the US and Europe. There are costs of accommodation, learning resources, and loss of working hours to consider before you jump in.
Although many on-site and online programs have similar fee structures, you can save a truckload of money with distance learning. With online MBAs, you can study at your convenience. If you are currently employed, you will not bear much financial loss.
Some public schools charge less, although the average course costs lie between $7710 which is the least expensive to about $115000 which can induce internal hemorrhage in your account. Some schools charge as low as $4410 for their programs but are on the lookout for dodgy stuff and ‘fishy’ business.
Many colleges offer scholarships and studentships for the most qualified candidates and diligent researchers. So, check if your chosen institute has anything on those lines to make your financial life a bit easier.
If you want a truly bright future, consider the addition of job placement to your criteria. Some institutes have tie-ins with reputed business establishment. This fact reverberates with the accreditation process.
Last but not the least, check the graduation rate of the business school. If you get lower numbers, it means that the school does not provide ample academic opportunities.
You can also check for some additional things such as the study structure. Synchronous structures allow you to meet other participants, receive URLs and connect through backboard. For a distance learning course, you should be able to avail irrespective of your location.
Even if you have found an institute which fulfills all your requirements, try to get multiple opinions. Speak to alumni and seniors through Facebook, LinkedIn and ask about their experiences as well.