Factors to be considered while choosing an MBA Program
Pursuing an MBA degree abroad is not just about carrying a tag of a foreign MBA. Choosing the right program in the right school is very crucial while pursuing the degree. The nature of the programs varies across the schools and not all schools offer the best programs. In order to choose the right program, you will first have to identify your goals and streamline them. Let us take a look at the factors you should consider while choosing an MBA program:
Self assessment is the first and most important step while choosing an MBA degree. Only after you have identified your goals will you be able to choose a program that helps to meet your goal needs. Once you have narrowed down your career goals you will be able to choose programs that will benefit you. Streamlining your career options will also help you to gain work experience in the field of your study and like we have mentioned in the earlier posts, obtaining work experience in the relevant field of study is very important for MBA admissions abroad. In the process of self assessment, it is also very important for you to actually debate if you need to secure an MBA degree. Once you have your goals set, choosing the program becomes easy.
Most aspirants choose to pursue MBA Abroad as gaining international exposure is their priority. It is very important to do a background check on the course you wish to study. Not all courses under the MBA program will be internationally recognized. Choosing a program that is not internationally reputed will only hamper your employment opportunities in foreign countries. Be sure to check the accreditation of the courses and the value of the course locally and internationally. This will give you an idea about your employment opportunities post MBA.
Mode of study and cost involved:
Most b-schools abroad offer both part-time and full-time MBA programs. The full-time MBA courses are still the most popular among students. Students can also opt to choose the Executive MBA programs, but the only demanding factor is the six years work experience as the entry requirement. The full-time MBA programs are usually for a duration of two years. However, many b-schools also offer one year full-time programs. Choose the program that suits your needs.
Most international students dread the cost involved. An international MBA program may cost you anywhere between Rs 10 lakh to Rs 15 lakh. Most schools offer Scholarships and financial aids to cover the study expenses. If you are a student looking for financial support then choose the programs in school that have scope for Scholarships.
Ranking of the school and the program:
While most students choose only schools that belong to the ivy-league or schools that are famous worldwide, they forget to look at other b-schools which offer courses that are diverse and more cost effective. It is a given that a degree from reputed schools add weightage to your resume, but there are a wide range of other schools that offer quality education and good placements.
When choosing the top ranked institutes, you must keep in mind the entry requirements, competition for admissions, the class strength etc. Ask yourself if you will cope with the challenges. Studying in the top b-school buy failing to produce Results will do you no good. Always analyse the scope of studying in a particular institute and the benefits you would receive for the investment made to obtain the degree.
Class strength and diversity:
The level of research done by most aspirants while choosing the MBA program is unfortunately very superficial. Many students fail to look at the class strength and the role of diversity in the learning experience. top B-schools like Harvard Business School for instance have nearly 900 students in the class. This will eventually reduce your interactions with the teacher and other peers. On the other hand, in small schools (in comparison to Harvard) have a minimum of 300 students. The scope of interaction is better and you will learn better from the students from the diverse backgrounds. The scope to play pivotal role is better in small classes.
However, we are not intending to tell you which school is better or the best. Our motive is to give a peek into some of the major factors you should consider while choosing an MBA program. Ultimately it all boils down to your needs and your priorities. Setting your priorities straight is the most important factor while targeting a particular MBA program.
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