Over 100,000 people around the world choose to study for an MBA every year as the degree provides skills to make an individual more marketable and provides greater career choices. However, choosing a graduate business school or graduate business program can be a difficult choice. One needs to carefully research the choice of school to ensure that it matches their personal requirements.
Getting the Right Focus
Demand for better and more qualified business professionals has become acute and the pay-off remains excellent. Investing in a career now could be the right move in the long-run. MBA's are indeed becoming more accommodating in their attempt to answer the needs of all who aspire to further their business education. The task of choosing the right program has become much easier with the availability of the variety in the programs. Weekend or evening classes, Internet courses, distance learning, open enrolment, and full-time modules accommodate busy professionals.
Pursuing an MBA is expensive and time consuming. Most full-time programs last for two years while part-time programs can take three or more years to complete. An MBA program abroad may cost anywhere from Rs.20 to 50 lakhs, whereas an MBA in your home country will cost roughly between Rs.7.5 to 25 lakhs. Premier institutes in India boast of excellent job placement records with top Indian, Asian, and global firms, and the locations offered are no longer restricted to India and Asia. However the choice remains purely upon the discretion of the individual and the needs the degree will cater to.
Local School or International Powerhouse
There is an increase in the number of Indian business schools having tie-ups with foreign universities, such as SP Jain Institute of Management and Research with Virginia Tech; the Indian School of Business with the Wharton School of Business and the Kellogg School of Management; Great Lake and Yale and many more. These partnerships provide an international standard of education at a lesser cost. They can also serve as a good source of exposure for the student - most of these institutes send their students to the partner institute's campus in the final year of the course which can prove to be highly beneficial.
Faculty
Good-quality education depends primarily on the calibre of the university's faculty members. Most top business schools boast of a team of world-renowned professors with diverse interests and expertise. The easiest way to find out if a school's faculty meets your expectations is by visiting its websites and going through the list of faculty members and their qualification. Faculty members with a commendable academic and research record are key to give you an edge as an MBA graduate.
Rankings
MBA rankings are available on many domains and magazines. These rankings will help you begin your MBA program search. MBA rankings can be used to learn about MBA programs that are most selective and popular, which are known for having a strong reputation in areas like accounting or finance. Although MBA rankings can be helpful, you should never base your choice of MBA program on rankings alone. MBA rankings are usually a matter of opinion. It is important to conduct your own research to determine which MBA programs are a good fit for your academic and career goals.
Return on investment
You can start earning your MBA with confidence that you will obtain a substantial return on your investment now and for the rest of your career. MBA students benefit from a high financial return on investment through salary growth after graduation, as well as enhanced career opportunities. An MBA truly is the door to excellent personal and employment opportunities.
Contacting Schools
Brochures and other hand-outs can be requested so that you can gather facts and figures about the schools on your list. School visits are also important. A visit to the campus of your choice will enable you to see the school facilities firsthand and get a better feel about the learning environment. With an onsite campus visit, you can meet members of the teaching faculty, alumni and dedicated staff in the careers development department. Examine the school's location, quality of life, culture; get an honest opinion about the institute by talking to the students and opportunities for partners to make sure you choose the school that is the right fit for you.
Choosing a MBA program is a very important decision to make and most graduates either go for the big names or the college that their friends are in. An important step like this should be taken after doing considerable research and applying due thought as a right MBA degree can be the key to launching a dream career.
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