If you've decided that the salary statistics and publicized benefits are enough to convince you that the ROI of an MBA is worthwhile, then it is time to select a school.
Studies show that 62% of graduates in the class of 2006 would recommend their schools to someone else who is interested in the degree. What factors did they take into consideration when they selected their school?
-the quality and reputation of the school
-the financial cost of the school
-personal fit (whether the school was right for them as individuals)and location.
It is important that the school you chose is know for its' quality and has a good reputation. A low-quality programs is not likely to be a good ROI or give you the opportunities that a higher quality school would.
Another important factor is cost. MBA.com tells us that although you might assume that those who paid a lot for their degree would have a harder time saying it was all worth it, but the exact opposite is true—those who felt they paid a lot valued the degree most. Some of this may have to do with consumer psychology, which tells us that things that are expensive are more valuable than things that are inexpensive. But another explanation for this phenomenon could be that those who did not let high prices discourage them from attending the school they really wanted to attend were glad they made the financial sacrifices to go to the school of their dreams. We're not saying you should go broke to get your MBA, but we are suggesting that there may be some trade-offs in exchange for choosing the less expensive school.
Be careful of the value you place on published rankings. Use several outlets to research schools and the quality of programs they offer. When people focus on school rankings, they don't necessarily investigate the attributes and quality of a business school for themselves. It's important that you define quality for yourself, and that you make sure that the school you choose offers the curriculum, faculty, and services you will need to further your career goals.
Every step you take in the beginning to find the school that matches your needs will increase the likelihood of your being one of the majority of graduating MBAs who say the degree delivers on its promise.
Here are some links that you may find helpful when researching schools:
Accreditation
mbaworld.com/page/newaccredit1/index
What is a ranking?
mbaworld.com/page/rankings/index
Princeton Review School Search
princetonreview.com/grad/research/articles/gradschomatch.asp
1 comment:
Great. thanks. I think that ranks and fees are an important part, but it is equally important to compare things like pedagogy, feedback from alumni and so on.
YOu need to research a lot before you decide on your university and aid.
actually, there are places on the net where you get lots of info about such things for an MBA - including Aid and courses and everything else.
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