Most of us have probably heard about how some dropouts who made it to the top without any formal learning. Names like Henry Ford, Steve Jobs, Mark Zuckerberg, and Bill Gates stand as an example that self-learning can be fruitful. Most of them were people who adopted a different direction and paved their way on their own.
However, we believe that the current corporate scenario rules out this possibility.
Even though an innovative take on business strategies is rewarding, there is always a chance of failing midway if you proceed without any formal learning.
The dynamic business world demands people to stay in the learning loop forever. A course in business management is an investment for the future that eventually pays off. Choosing the right institution will ensure that you get the best out of your education.
Throughout the world, MBA Programs are famous for providing students the required aptitude. Over 800,000 prospective students apply to MBA programs each year. Also, there are one million people enrolled in any school at a given time.
As the upcoming generation of MBA sets out to start its journey, they must address one question: which MBA program will work best for me?
Given the growing need of the market, you are going to find plenty of options in the market. Study and filter out the ones that work for you.
We have rounded up a list of things you need to take into account before selecting a university for an MBA. Let’s scan through them:
We are living in the age of specialization. The business field has many dimensions, and you can choose to pursue your course in a specific area like MBA in Business Analytics. Or you can go to a general business management course. Find out if the school under consideration offers cross-functional elective subjects. Treading in this pathway will lead to a better overall understanding.
Some institutions also offer their prospects with major-minor combination and dual specialization. It helps you to land a reputable position in the industry.
- Determine if the school has a particular capability.
- Are the electives subscribed beyond limits?
- Do they change every year?
Having prior knowledge is always a wise move.
The famous names in the list of faculty are quite impressive for the students. The lists, however, fail to give a clear insight. They do not shed any light on the presence and interpersonal skills of the professors. Because of book tours, consultancy projects, and media commitments, they may be unavailable for their students when they need guidance.
Even though going for reputable professors is the right way, but you should know if they are approachable.
- Do they offer extra hours outside the class?
- Do they communicate with students and help them to mend their weaknesses?
Remember, a good teacher will leave a mark and inspire you to grow even when they are not with you.
3. Curriculum and internships
Realizing the fact that theoretical learning is not enough, many schools are now moving towards experiential learning.
Through exchange programs, electives, and internships, these programs provide students with hands-on experience.
A study reveals that recruiters see value in resumes in order from; past work experience (61%), the industry of past work experience (51%), years of pre-MBA experience (44%), business schools (36%), and internships (27%).
Most of their preference is based upon the reputation of the school and internships are undertaken by the student.
Make sure that the school you select is keeping up with the evolving needs of the industry. They must update their curriculum regularly as the skillsets demanded are changing rapidly.
The quest for the right school also involves evaluating its student history. A strong alumni network is the reflection of the schools' good structure.
When a business school succeeds in binding the students as a powerful force, it indicates that they have learned some valuable lessons there. More than the strength of the network, you should check out how involved they are with the school.
- Do they participate in school events?
- Do they offer advice to the current students?
Schools with an active alumni network where they regularly speak to the classes and mentor the current students will have a well-functioning MBA program.
Also, scrutinize the list of alumni and see where they are working now. If they can proceed with the changing climate of the industry, it is a signal that the school has prepared them adequately to move in the corporate world.
Triple accreditation is an overhyped phenomenon used mainly in the European Business Schools. The aim was to distinguish their schools from other Asian, American, and Australian business schools.
An essential thing that the school must have is either AACSB, AMBA, or EQUIS. It works as a certification that the selected school follows the guidelines and practices provided by these organizations.
When you get down to checking the accreditations, you will discover that most of the schools only have AACSB certification.
The Association to Advance Collegiate Schools of Business currently accredits 799 business schools in 53 countries. Note that you should not rely on multiple accreditations when choosing the university. It tells you nothing about the post-MBA opportunities and overall learning experience.
6. Class Diversity
Many students opine that considering diversity is an absurd factor when choosing a university. They fail to grasp the fact that diverse learning experiences will enable them to adjust when they enter the practical field.
Students need to communicate with others who are coming from varying industries, job functions, races, and cultures.
These interactions expose the students to a broad range of opinions, perceptions, working styles, and conceptualization. They can learn how to react in similar scenarios when they enter professional life.
As we said earlier, your education is the investment for the future. Avoid being hasty when it comes to decision-making.
Understand the learning opportunities that each program offers and make sure that they will provide you the experience that you need to progress in the selected field.
Although every person has varying perceptions when choosing an MBA program, these are the primary considerations. They will help you to shortlist and eventually pick an appropriate program.
What do you look for in an ideal MBA program? Share your views with us in the comments section.