How to choose the right MBA to improve a career
For those working in the business world, there may come a time when an MBA sounds like a good idea. However, while an MBA as a whole can help improve management competences and soft skills, it can be hard to know which MBA to choose.
There are a multitude of Master in Business Administration degrees available from different universities and in different countries. Each offers something unique. By taking a look through the following points, potential applicants will have a better idea of what criteria matches their needs.
Considering the reasons to do an MBA
The first step of any potential student is to consider the reasons they are planning on doing an MBA. It could be for a complete career change, to change a job function within the industry or even to move forwards.
Once the specific reason and goals are defined, it becomes easier for students to determine which course meets their needs. This is important as the answer can help participants choose a school that has faculty and alumni that meet their needs.
Where to work
Another consideration is to choose where to work once the MBA is complete. This is because students will also need to live there depending on their choice of a work placement. Different countries have different job markets as well as cultures.
The choice of location will have an impact on where to work, the type of jobs that are available and whether an MBA is suitable. Therefore, students may want to consider a big city college versus one in a more remote locale.
Another important aspect to consider is the focus of the course. It is recommended that students decide what skills they would like to focus on and improve as this can influence where to study as different courses have different skill strengths.
Length of the course
For some students, joining an MBA will be done at the same time as already holding a job. This means that students will need to consider the number of hours they are able to put into studying on a weekly basis.
Happily, MBAs offer on-campus modules and distance-learning sessions. The latter is particularly helpful as many courses, such as those offered at SDA Bocconi, enable students to participate at their leisure as well as offering online distant learning options.
Local or international
Part of the experience of studying for an MBA is the fun of participating with others. This means that it, again, comes down to each individual student's personal preferences as to what they are looking for in a course of this type.
Some students may wish to stay closer to home, enjoying an atmosphere that's familiar. Others prefer to head overseas, hitting big cities such as London or Milan, allowing them to fully immerse themselves in a top-level business world right from the outset.
Return on investment
A major point to consider is the return on investment (ROI) when it comes to taking on an MBA. Studying can be costly, but thankfully, the return is usually very rapid, often between three to six years for most students.
When calculating ROI, students should consider the strength and reputation of the school alongside the tuition fees. Taking into account the other points already mentioned will help students determine which option is best. A top tip - many schools with lower fees have faster returns.
Rankings and getting in touch
Finally, students should consider the rankings of the school. It's a good idea for students to match their criteria to the school's rankings to see if there are good matches. Additionally, students should begin getting in touch with the schools themselves.
Furthermore, visiting campuses will help students get a better feel for the overall school and whether they want to participate in the course there. By considering all these points, students will be able to choose the best MBA to push their career forward faster.
This article does not necessarily reflect the opinions of the editors or management of EconoTimes