With the rising popularity of an MBA degree as one of the best post graduate
courses worldwide, there are now practically thousands of business schools
and an equal number of MBA programs available to those who wish to obtain an
MBA degree. With such a huge and diversified choice, it becomes very
difficult to know which program is right for you. Choosing an MBA course
that serves your needs best is indeed a tough job. Here are some things to
consider when deciding on an MBA program.
1) Your Expectations from the
MBA Program
No two MBA programs are absolutely alike and even though they teach you
the same basics, they do not offer the same syllabus. So you need to ask
yourself:
- Does this course give me the experience I am looking for?
- Does the syllabus include topics that are relevant to my chosen
career?
- What electives does the program offer and am I interested in
them?
- Is the content of the course suited to my needs?
- Do I have the required aptitude to successfully finish the
course?
- Does the program offer practical training and real life
experiences as well?
2) Your Physical Circumstances
You need to assess if a particular MBA program is feasible in terms of:
- Does the structure suit you?
- Whether you can do the full-time two year course or you need a
shortened course.
- Is the program in your area or will you need to travel daily?
- Are the timings of the course suitable for you?
- Are you free to join the course on its start date?
3) Financial Considerations
An MBA program is an expensive program and thus you have to consider the
financial impact of a particular program on yourself. Ask yourself:
- Can I afford the program fees?
- Will the living expenses, travel costs, and other expenses
involved in the particular program put an immense financial burden on
me?
- Will I have to borrow a loan to cover the costs and do I even
want to?
- If I do take a loan, will I be able to bear the interest on the
loan and how long will it be before I can repay it?
4) Impact on Your Lifestyle
- Will I be able to balance work and studying?
- Will I have to give up my job?
- How will a particular course affect my family life?
Once you have asked yourself the above questions in relation to the
different MBA programs that may interest you, you can determine which of
those programs is best for you and positively addresses all the above areas
in which an MBA program can impact you.
Most people want to go in for an MBA program that is offered by the top A
grade business schools and which have the highest ratings. If given a chance
to enroll in such a program, they jump at it without considering how it can
affect them, and later have to live with the consequences. Although an
education from the top business schools cannot be compared to other
programs, you have to decide which course is best for you according to the
above guidelines.
If you choose to enroll into an MBA program just because it is THE best
one available, but are unable to stay with the program or complete the
course, then even the best of programs will not do you any good. So
determine which program is best for YOU and then make the most of it.
