CHOOSING THE RIGHT B-SCHOOL
How do you choose from the top MBA schools to find the
school that best matches your own aspirations and requirements? The
following checklist, as we think, details all the factors that you need to
consider:
1. Where do you want to study?
2. What are the admission requirements?
3. What is the graduation rate?
4. Is the MBA school or MBA program accredited?
5. What is the ranking of the MBA school or the MBA program?
6. What student support services are available?
1. Where do you want to study?
One important factor is the geographic location of the business school. Do
you want to study nearby or are you able to travel nationally or
internationally? This can have a major effect on the cost of your MBA
program and also on your admission requirements so you do need to choose
carefully.
2. What are the admission requirements?
If you are aiming to be admitted onto the program at one of the top MBA
schools, you need to be sure that you can meet the admission requirements.
Be honest with yourself and assess what your own abilities are.
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We know from feedback from our visitors that one of the
most daunting aspects of the admission process is the MBA admission essay,
particularly as you need to make the admissions officer or committee aware
that you are not just another 'standard' applicant.
In addition, one of the best books available to help you get into the top
MBA schools is ABC of Getting the MBA Admissions Edge which is officially
supported by McKinsey and Goldman Sachs.
3. What is the graduation rate?
One of your main objectives when choosing to study for an MBA is that you
need to be sure that you are going to be able to graduate. Otherwise, the
investment of time and cost will be wasted. Find out from the business
schools that you are applying to what the graduation rates are for their
MBA programs.
If there seem to be a lot of students dropping out of the program or if
the graduation rate is very low, find out why. Similarly, if the
graduation rate seems very high, ask more questions until you are
comfortable with the answers.
4. Is the MBA school or MBA program accredited?
Accreditation is really an independent review of the MBA program offered,
or of the MBA school offering it. It is an indication that the content and
academic level of the MBA programs offered meet the standards or
requirements of the accrediting body.
The issue of accreditation is interesting in respect of the MBA, as there
is no universal governing body to control the award of the MBA. However,
there are three main independent organizations that accredit the MBA
programs or the MBA schools.
The accreditation of the MBA program or the MBA school undoubtedly helps
to increase the reputation of the MBA gained and you should certainly do
further investigation if there is no accreditation of either the MBA
school or its MBA program. Whilst there may be a reason behind this, it is
a fair assumption that employers are more likely to be interested in MBA
graduates from accredited programs or top MBA schools than ones who are
not.
5. What is the ranking of the MBA school or the MBA program?
Rankings of top MBA schools generate a lot of interest and are a
subjective assessment of the quality of the school or the program offered.
They are based on questionnaire answers and there are many criticisms of
the methodologies used. However, they do provide another tool to help you
to select the right business school for you.
For full details, please click here for MBA rankings.
Remember that whilst business school ranking is one factor in your overall
decision, the best determinant of whether the business school can be
considered to be one of the top MBA schools for you is how it will help
you to achieve your goals.
6. What student support services are available?
You need to evaluate the services that you need to help you to reach your
own goals. Firstly, what support services are available to you when you
are studying and secondly, what support is there in terms of career
counseling and support?
When you are studying is there sufficient support available, such as
libraries and computer labs if you are on-site or access to course
materials if you are off-site?
Also, how much support will the business school offer to help you land the
job or internship that you are aiming for? You will need to know what
career services are provided and how successful these have been for
previous students and graduates of that particular MBA school.
Once you have decided what business school you are going to apply to, you
need to make certain that you are prepared to pass all aspects of the
admission process.