Wednesday, July 20, 2011

How To Toolbox

How to choose an MBA program

Tailor it to your own needs; then network away

A master of business administration degree can be one tool in a person’s career-building toolbox, so the decision of where and how to earn that MBA warrants some early homework.

Figuring out why you want an MBA degree and what you want to accomplish in your career are important first steps in the MBA decision and program search, according to Dave Wilson, president and CEO of the Graduate Management Admission Council (GMAC). Once you’ve answered those questions, consider the logistics: What kind of schedule do you want — an intense, fast-track one or one that’s flexible but takes longer to complete? Does the convenience of the location matter to you? Would you be interested in an online program? How important is the school’s reputation?

Do your research
Start where every other search begins: The Internet. The Association to Advance Collegiate Schools of Business  is a global, nonprofit membership organization of educational institutions, businesses and other management education entities. The association also maintains a list of accredited business schools. The Graduate Management Admission Council,  a non-profit organization of graduate business schools, runs the GMAT standardized exam required for many MBA program admissions.
After web resources, turn to human resources. Talk to current students, walk around campus and get a personal view of a school, recommends Mary Thompson Hayes, associate director of graduate admissions for Bentley University. She said of that walkaround, “That is tailored to each individual, each person is going to be look for something different.”

Know your time and place
What are the constraints on your time? MBA programs come packaged neatly as standard, two-year, full-time programs, of course, but they also can be stretched out over several years in which you take a few courses on a part-time basis. And if time if an even bigger constraint — or if you live too far from a brick-and-mortar business school — AACSB provides a list of accredited online MBA programs that can fit a motivated and disciplined student as well.

Form a network
“Your best networking contact is the person sitting beside you in your MBA program,” says GMAC’s Wilson. “This person can help you down the road so it is important to select a top program with the very best people surrounding you.”

Your network may form from classmates, professors, mentors and alumni, so the business school’s reputation in your field of interest should play a role in your decision. “Be sure, to the best of your ability, that you match your career goals with the strengths of a school’s curriculum,” said Hayes.

Think beyond the degree
Once you’re enrolled in an MBA program, it’s time to apply yourself to your purpose. “Make sure you take a course that pushes you out of your comfort zone because you may find something you are especially skilled at and that you love,” Hayes said, borrowing a recommendation from a Bentley MBA alum. And don’t forget the networking and opportunity goldmine that is the school’s career services. They’re the ones that will help turn that piece of paper into a job offer.