So, you’ve decided that you’re ready to earn an MBA. Now how do you choose the right program for your needs, goals, budget and lifestyle?
Here are 8 points of comparison that you can use to evaluate business schools and MBA programs:
1. Check accreditation
Accreditation is important because it ensures certain standards are met in the curriculum, faculty and campus life at your chosen school. In the U.S. there are six regional accrediting agencies. Check this list for the accrediting body in your area and make sure any school you consider – public or private - is accredited. You can also use the AACSB website to review a list of accredited business schools.
At the very least, any school you consider should be regionally accredited. Put schools with AACSB accreditation at the top of your list. Less than 10% of the world’s schools receive this designation, so you can be confident that your MBA will be respected around the world. You can also use the AACSB website to review a list of AACSB-accredited business schools.
2. Check the curriculum
Most MBA programs offer a generalists degree, meaning that you’ll study all the major areas of business – finance, accounting, marketing and management. If you have a special interest in an area, make sure there are opportunities to take elective courses in those areas to shore up your knowledge and experience. You should also inquire about international travel and learning opportunities. Do the programs you’re evaluating offer courses in international management, operations or marketing?
While you’re considering classes, think about how you prefer to take those courses. Do you travel so much for your work that only online classes will fit into your schedule? Can you afford to take 2-3 years away from work to be a full-time MBA student? Or, like most MBA candidates, do you find that a part-time schedule of evening classes will best fit your lifestyle and needs?
Do you prefer to meet people in person and work in teams to complete assignments and projects? Then a cohort-based program in which an entire class of students completes the program in lockstep might be better.
3. Faculty
No matter how you decide to take MBA classes – online or off – you’re going to want to learn from great professors. When you evaluate a program, speak with the professors to learn about their teaching styles, the research and writing they do, and to better understand their professional experience both in the classroom and in the field.
4. Location
If you’re planning to work all day and take classes in the evenings or on weekends, you don’t want a killer commute. Choose a school that is reasonably convenient to your home or office. You want to be studying, not sitting in traffic. If you’re not sure about drive times, test the route out on the days and times you’d be making the commute.
You should also attend and information session and tour the campus so you’ll know where all the classrooms are and how to get to the technology labs and library, without wasting time driving around lost or looking for a place to park.
5. Cost
Don’t think all MBA programs are expensive. Regional universities offer a wide range of programs that are priced lower than prestigious schools, so you can find creative ways to fit an MBA into your budget without breaking the bank.
Compare tuition, fees, books and other expenses (like gas for your commute!), then investigate funding options. Does your employer offer some sort of tuition assistance? Ask HR for details. Do the schools you’re interested in offer scholarships? Some, like NGCSU, will offer a scholarship for an excellent GMAT score or outstanding academic performance. You can also inquire about financial aid and student loans.
6. Admissions process
Do you have all the necessary documentation to apply? Meet with an admissions counselor and ask for an admissions checklist. Compare to the other schools you’re considering and see if there’s any overlap. You’ll also want to check the application deadlines and the start date for classes to make sure you can get through the process and start classes when you’re ready.
7. Reputation
Sure, Ivy League schools have a fabulous reputation. But if you can’t afford one, you can still look for a regional school with a great reputation. Ask your colleagues or executives you admire about the schools you’re considering. What have they heard? What are their perceptions?
You can learn a lot, especially in small towns, just by talking to people. For example, NGCSU has a strong reputation for leadership stemming from the college’s military programs, as any north Georgia resident can tell you.
8. Networking & career assistance
Building your network is the best way to meet people that can help you achieve your goals (and you can help them, too). Does your school offer networking events and mixers where you can meet alumni, as well as current students and potential students that may become your classmates?
And, when you earn your degree, will the school support you in your efforts to advance your career? Do they have a career counseling center? Do they offer workshops to help you polish your networking, resume writing and interview skills? Do they work with area companies to place interns or post jobs?
Make the Right Choice
Spending time to make sure you select the MBA program that best fits your goals, budget and lifestyle is important. After all, your success won’t be determined by the piece of paper you receive at graduation, but by the knowledge you gain and the experiences you shared with your classmates. Earning an MBA requires commitment, so be sure you choose a program that makes the sacrifice worthwhile.
For more information about the AACSB-accredited program at North Georgia College & State University, visit NorthGeorgiaMBA.com.
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