7 point checklist to choosing an MBA
Taking an MBA is likely to be one of the biggest investments of time and money that you ever make. So, if you are thinking about doing an MBA? You are convinced –well, almost. There are still some doubts. And Google search on “MBA admissions” showing nearly 200 Lacs results. A staggering number of options far beyond the ability of even the most diligent applicant to research and compare.
Given the range of options, we’d like to present you with this 7-point checklist to help you make your own decision when choosing an MBA:
- Checklist One: Evaluate your most important wishes and demands with regard to the MBA.
First and foremost question you should ask yourself : Why do you want to do an MBA? Is it that “You want to change career direction” , “You want to set up your own business” , “You want to earn more money or get a better job”, “You want to build a network of contacts”, “You want to develop international experience” If you can form a clear, coherent vision of why you need an MBA, half the application battle is already won.
- Checklist Two: Doing an MBA in India, or doing one abroad?
The choice between an MBA in India and an MBA abroad continues to perplex the students who wish to pursue a career in Management. Most Indian MBA aspirants have this question in their mind – Should I do my MBA from an Indian business school or do I look for MBA programs abroad in the USA or is it possible to get an American degree while studying in India?
You need to first list out your key criteria in terms of long terms goals, career plan, budget, country where you want to stay etc and prioritize them. Once you do that, deciding whether you should do an MBA in USA (abroad) or in India will be an easier task.
- Checklist Three: Check for World Class accreditation
Check whether the university you’re planning to pursue your MBA from is world class accredited.If the university is accredited by a reputable organization, it ensures the quality standards of a business school. ACICS, AACSB are few of the well-known accreditation authorities. For example, Stratford University is recognised by ACICS which is listed as a nationally recognized accreditation agency by the U.S. Department of Education and is recognized by the Council for Higher Education Accreditation. KKMII is the first American accredited university in India offers bachelor’s and master’s program from Stratford University, USA.
- Checklist Four: Choose Your Program Type – Full-time or Part-time or Online?
Choose Business school as per your schedule. Whether you opt for a Full time MBA Course,Weekend MBA Course or Evening MBA / Part Time MBA Course depending on your time availability. Flexibility is crucial in today’s fast paced environment.The latest trend is Online MBA programs suitable for those who don’t have close access to a college campus, those who work in the professional world and those who have certain commitments that would otherwise keep them out of the classroom.
- Checklist Five: Leave the Door Open for Specialization
The next crucial decision is choosing the area of specialization. One of the strongest aspects of an MBA program is the potential to drill down on a professional specialty. By researching the areas of concentration available, you can find a program tailor-made for your career aspirations.
- Checklist Six: Value for money
As expected the financial aid is the main deciding factor of whether the student should continue with an MBA programme in India or look out for an option abroad. Research to find out options if you can get an American MBA degree in India or if you can choose an option of studying for 1 year in India and 2nd year in America as it will involve less cost.
- Checklist Seven : Gain Practical work experience
There is really no substitute for practical, hands-on experience. Check for Business schools which provides 2 year internship in MBA starting from very first day of your course. By the end of the course you will have 2 years work experience along with an MBA degree.
So, if you are planning to pursue MBA anytime soon, do not forget to go through this checklist before proceeding! You will definitely get the return of investment for the time you will spend.