How to Select an MBA Program
Earning a Master's degree in business administration (MBA) enhances job skills and improves your marketability. A Graduate Management Admission Council survey reports that many companies seek employees with MBA degrees and pay a higher salary for the credential. The United States Bureau of Labor Statistics indicates that employees with graduate degrees receive higher earnings and have lower unemployment rates. Invest the time to select a graduate school that will support your learning and career objectives.
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Things You'll Need
- List of questions to ask the school
- Undergraduate degree transcript
- School application requirements
Instructions
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Determine if an MBA degree is right for you. Consider your undergraduate degree, work experience, skills and career goals. The MBA website offers a career self-assessment.
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Evaluate your finances to determine how much you can afford to pay for tuition. The cost of an MBA degree varies widely by graduate school and may be a factor in your selection process. Research potential sources to obtain financial assistance. Check to see if your employer offers education reimbursement. Contact your bank to inquire about loans and lines of credit. Ask the graduate schools if they offer financial aid.
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Decide if you want to go to a traditional brick and mortar graduate school or earn your degree online. Factors to consider include: your work schedule and personal obligation, your learning style and school tuition. If you decide to earn your degree online, read the eHow article "How to Find Online Classes" for tips on selecting a distance education school.
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Research graduate schools. Start by visiting the school's website to gather course descriptions, admission requirements and tuition fees. Then schedule an appointment to meet with an admissions representative to learn more about the school and ask questions. For local schools, ask for a tour of the campus. For online schools, ask for a temporary password to tour the student website. Graduate school learning philosophies are very diverse. Some schools focus on independent learning and other schools organize students into groups. Consider graduate schools that best match your learning style.
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When you evaluate the schools, check to see if they require an entrance exam. State schools often require applicants to take the Graduate Management Admission Test (GMAT) and obtain a minimum score in order to be admitted to the MBA program. Private schools don't always require the GMAT but may administer a school aptitude test.
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Prepare a time line of action steps. The application and acceptance process can range from several weeks to several months depending on the school you select. For example, your school may require you to submit a recommendation letter from a business contact. After you select a school and review the application process, create a to do list with due dates to help stay on track.
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Tips & Warnings
State school tuition is typically less than private school tuition, but the entrance requirements can be more rigorous.
Give yourself ample time to study for the GMAT to ensure that you are successful. Purchase a study guidebook or attend an exam preparation class.
Be realistic about your chances of getting into your dream school. Popular schools receive many applications and often follow a stringent screening and selection process. Select one or two back up choices just in case.
