Factors to Remember Before Finding a School for an MBA

We always put a lot of concern to the question of where to complete our MBA. Master of Business Administration (MBA) is designed to provide you with business ethics and negotiations, an understanding of the corporate culture, the ladder, and the environment, and how sales and marketing principles apply in everyday businesses.

This is not purely a theoretical course. Instead, it involves the use of a lot of case studies, live projects, internships, and job placements. We talked to a CEO to know what they feel about MBA graduates.

“While the brand of your MBA school can open doors, it’s the skills and knowledge you acquire that truly matter. Employers value the ability to apply what you’ve learned over the name on the diploma.”

Maya Chen, CEO of Tech Innovations

I Have Mentioned Some Factors to Consider While Choosing a Good Business School

Before you consider which business schools you are going to choose from, you need an understanding of what a good business school is, what makes business schools top-notch, and what makes them the last option.

There are several factors, like the faculty. You may ask yourself, “Who is teaching,” or “How is the curriculum?”. We can ask ourselves, “Do they have live projects, experiential learning, case studies, and on-field training?” or “What is the admission criterion you need to ace any particular exam to get in”?

This will tell us how difficult is the interview process. I would say that the preconceived notion that a business school is better if it is older and more prestigious is wrong, as there have been cases otherwise as well. And I will tell you a few things that can help you get started.

1. Alumni Connect

If there is a strong, high-net-worth individual among the alumni of your business school, you have a better opportunity to get placed in large companies with the help of their referrals.

Think about this. Sam, my friend, got a job at KPMG because his senior worked there. He asked him for a referral and that made the entire process of hiring so much easier. Your college alumni can help you get the early break – at least for Sam, it did.

“In certain industries, the prestige of your MBA matters less than in others. In tech startups, for example, what you can do matters more than where you learned to do it.”

Liam Scott, Startup Founder

2. Faculty with Good Practitioners, Lecturers, and Academicians

Having a good mix of the teaching staff in your business school with professors with different and experimental techniques of teaching helps to kill the monotony and also increases engagement during lectures. Having experienced MBA faculty facilitates the process and provides us with great knowledge and tools.

The ROI of an MBA often hinges on the school’s reputation. Graduates from top-tier programs generally command higher salaries, but the cost of these programs should also be a consideration.”

Rajiv Gupta, Financial Analyst specializing in Higher Education

Is having good lecturers enough? No, you can’t just rely on it; you also need to consider a curriculum with varied practices and activities. Having all bookish knowledge is not the way of life or business. Dependence is necessary to explain principles, but what helps you master them is their practical application.

During your MBA, have a set of activities to teach certain rules of business, including live cases and projects with actual negotiations, and having real marketplaces set up. It is to explain how businesses build and thrive is what comes in handy in the long run, which should be kept in mind while choosing a business school. 

The Icy Whiz team talked to Kelli Anderson, a Career Coach at California Commercial Insurance, about factors to consider when selecting a business school for career success. Here is what she said:

“It’s critical that candidates inquire about and fully understand expected outcomes. For example, what partnerships does the program have with local, national, and international businesses?

How long does it take for graduates to obtain employment, and what is the average salary in that first year out of school? What kind of experiential learning opportunities are available?

If students know their goals, they can compare them with the MBA program’s outcomes and see if there is alignment.”

3. A Good Connection with Renowned Trainers and Mentors

MBA surely provides us with job opportunities along with internships during and after the course, but there are a lot of hurdles in between.

Having the correct set of people to provide you with the necessary support and guidance is what helps you get ahead. Another aspect is the entrepreneurial set of students who need the correct starting and mentoring at different steps of starting a business.

Other than having good connections, you also need a set of expert classmates to get in via specific exams and admission criteria.  Haven’t you heard ‘company matter’? Well, it does in such competitive backgrounds, and healthy competition pushes you to perform to your full potential and helps you achieve great levels of perfection.

In your MBA college, having colleagues who are all talented in different ways helps in mutual learning and understanding and also provides you with a constant push to keep doing better every day. 

4. A Good Variety of Electives With Different Combinations

A course that is equal and similar for everyone might not be helpful as it might not equally pique the interests of everyone.

Also, in a race of animals, we can’t compare a fish and a bird. Similarly, we can’t judge different students on the same criteria. So. having the choice of different electives in different combinations helps you to make the right choice that suits your abilities and interests while you are pursuing your MBA.  

You can’t forget about the placements and pay scale. A prestigious institute that is well linked with the top MNCs and has collaborations with major corporate groups will help us land in better companies at better positions.

It will also provide us with a plethora of opportunities to choose from and make the most of it while doing our MBA.

Jon Morgan, CEO of Venture Smarter, emphasized considering school ranking and specializations before selecting a business school for an MBA. Here is an excerpt from the interview:

“Selecting the right business school for your MBA is a pivotal decision that can shape your professional future. One of the primary factors to consider is the school’s ranking and reputation.

Prestigious schools often have extensive networks and attract top employers, which can be advantageous when seeking high-caliber job placements.

Another critical factor is the curriculum and areas of specialization. You want a program that not only covers the basics of business but also offers in-depth courses in areas that interest you, whether that’s finance, marketing, technology, or entrepreneurship.

This alignment ensures that you acquire the skills and knowledge necessary for your specific career path.

The strength of the school’s alumni network cannot be overstated. A well-connected alumni network can provide mentorship, job opportunities, and industry insights that are invaluable as you navigate your career.

Additionally, look at the support services the school offers, such as career coaching, internship placements, and job fairs. These resources can significantly enhance your job search and career development.

Lastly, consider the culture and environment of the school. An MBA program is intense, so being in a supportive, collaborative, and stimulating environment is essential.

Visit the schools you’re interested in, talk to current students and faculty, and get a sense of the community to see if it’s the right fit for you.”

5. Geographical Location of the Business School

The location of our MBA school will determine a lot of life choices, like our place of stay, place of work, and connectivity with family. I must say this factor should not be ignored.

Although the primary thing to consider is that if we plan to work in a location then try to get a business school in the same vicinity such as if we’re planning to work in New York, try not to do our MBA from Europe. 

6. Tuition Fees/ Total Fees

What our return on investment will be is always a question, whether it comes to life or our choice of business school for an MBA. Having chosen a very expensive business school will hamper our pay in the early stages as the payback time will be difficult. The key is to find a business school where there is a good balance between the fees and the expected salary package, which will help us set us better prepare. 

We interviewed Fahad Khan, a Digital Marketing Manager at Ubuy Nigeria, on this. Here is what he had to say:

“During the pandemic, we had to adapt. We had to change our marketing to fit shifts in consumer behavior. People were increasingly shopping online and spending time on social media. Thus, our typical in-store promotions were no longer reaching as many customers.

We shifted our focus to digital marketing, particularly social media and email campaigns. We created more interactive online content, like short videos. We also invested in ads, only targeting customers in our niche.

Another major change was improving the customer experience. We introduced features like virtual recommendations and live chats. Moreover, we offered free shipping and flexible return policies to encourage online purchases.

These modifications positively impacted us. There was a remarkable increase in online sales and skyrocketing social media engagement. We maintained strong relations with clients while still growing our business during hard times.”

Choose Wisely!

Considering all the factors stated above, we understand that it is really important that we get an MBA because it not only decides our present choices but also shapes our future. Depending upon various factors it helps us stand out from the crowd, get a steady income source, and provide us with the requisite education.

It is a Master’s level course made to provide us with specialization in the forte of business so we can then, in life ahead, perform the requisite activities, apply the learned principles, and excel in our business!

Guest Author: Saket Kumar

Last Updated on June 4, 2024 by Pragya