Not all MBAs are equal. The reputation of the business school where you study for your MBA is essential. Here are five tips to choosing the best MBA School for you
Minimum Entrance Requirements If you do not meet the minimum entrance requirements for a business school you are likely wasting your time in applying to that particular school. Do some research as entrance requirements vary between Business Schools. The same applies if you have an obligation GMAT score; some MBA programs do not require a GMAT to be taken. The more research about MBA schools you do, the better.
MBA Rankings MBA Rankings are very important especially when achieving prominence among the respected ranking providers (eg Financial Times, The Economist and Business Week). There is debate about just how accurate an assessment of quality a rankings is however there is no doubting that the rankings drive public perception of MBA schools. A good guideline is to attend an MBA school ranked highly by one of the prominent ranking organizations.
Location and Program When attending an MBA program you will benefit significantly from face-to-face interaction with other MBA students. I recommend attending a full-time or part-time MBA program rather than a distance learning MBA. If attending a campus it will there before be important that you are able to get to the location of the campus fairly easily. The Business School library will also prove invaluable before you should be able to get to the library when necessary.
MBA Cost Good MBA programs cost a lot of money. It is not possible for good Business Schools to be inexpensive due to the overhead costs of lecturing staff and research and the like. If necessary attain finance to complete your MBA (also check if you are able to get sponsorship from your employer).
MBA Accreditation There are various MBA accreditation organizations with some of the most respected being EQUIS, AMBA, AACSB. These accreditation are important as they guarantee that certain educational standards are being met. It is rigid for the Business Schools to comply with the requirements of the respected MBA accreditation organizations and that various schools have triple accreditation is noteworthy (eg Henley Business School in the UK). Attending an MBA program accredited by these organizations is certainly a good choice.
Attending an MBA is an investment. Follow the tips above and do lots of research. Do whatever it takes to attend the best MBA program you can. It is definitely worth it!