Business school is not for everyone. Traditionally it has been the jump-off point for aspiring executives and entrepreneurs. While many of these enterprising individuals still get their start in an MBA program, just as many college dropouts and ne'er-do-wells sit beside them on the Fortune 500. The truth is no one knows if business school will pay off in the long run and it is up to each person to decide if the time and tuition is worth it. Some students want to brush up on their professional acumen while others are promised new opportunities upon completion. Whatever your reason, remember that an MBA teaches the skills that have helped others succeed but cannot teach success. These articles are meant to give aspiring entrepreneurs, businessmen and others interested in an MBA ideas of what to expect and looking for in a business school.
Even Chief Information Officers can get an advantage with and MBA. General business skills like problem solving, strategic thinking and teamwork are all emphasized throughout business school. For those in technology an MBA will let you understand your superiors, collaborate on problems and may even be a ticket to executive meetings. Even for those working support positions in the business world an MBA will improve the chances of success.
Some of the traditional ways of evaluating whether an MBA program is for you are ineffective. Return on investment is usually too generalized, both because of the many different schools and divergent personal goals. Knowledge, skills and networking are worthwhile, but can be obtained much cheaper from books and hard work. The true benefits of an MBA are for those who want prestige and would benefit from time to consider their career goals.
These recruiters have a lot to say about the value of an MBA in the workplace. From their interviews you can see that different companies are looking for different things from their MBA laden prospects. Some value networking while others look for teamwork experience. These tips from hiring professionals are invaluable when it comes to choosing which MBA program would best benefit you.
There are many intangible advantages that are taught throughout MBA programs. The combination of quantitative skills like accounting with more subjective activities in branding and creative processes exercise both halves of your brain. Hearing from different aspiring businessmen introduces the art of negotiation and how to determine an individual's perceptions to meet their needs. Business school is not only about skills for the workplace, it is also about finding out what skills you can leverage to make the most impact.
Even for those comfortable with their employment and MBA can be a good investment. Going to school will teach you the skills, jargon, teamwork and confidence necessary to succeed in business. On a personal level you gain connections, self awareness and perspective to take with you wherever you go. Getting an MBA is much more than preparation for the business world, it is a chance to learn valuable lessons you can use throughout your life.
For as many reasons as there are to get an MBA, there are reasons not to. It is expensive, time consuming and can ruin otherwise healthy relationships. From the business standpoint it is not a guarantee of a raise, can end a healthy career and may not earn you the respect you want. An MBA is for those who enjoy learning and are passionate about business, but there are easier ways to higher pay or a more enjoyable job.
Many people wrongly assume business school is their ticket to success. Not knowing what you want to do, aspirations to big-league business, qualifications for a career change, love of learning and entrepreneurial spirit are all common justifications. Unfortunately they are all wrong. An MBA does not guarantee any of these and most can be achieved without one.
Successful businessmen often scoff at the pursuit of a business education. In truth business schools and their faculty are afraid of the business world, preferring to watch from a distance rather than actually be involved. Those who want to be successful and have the resources to do so are already overqualified for business school. Others not quite on this level yet will probably not find what they are looking for in a return to education.
In business having an MBA could actually prevent you from landing the job. Employers see the return to school as admission that you lack experience, have few business ideas and that you may not fit in a management position. MBAs tend to be overconfident, lacking in firsthand knowledge and, especially after a down economy, did not see success in their career due to lack of skills. If you want to increase your chances of finding a good job or getting promoted, there are other routes to take.
There are many reasons to get an MBA and most of them are better accomplished on your own. Those already in business have many opportunities to reach their desired goals. Whether you want to change careers, develop new skills or become an executive most businesses offer services to help including leadership training and professional seminars. Don't waste your time in a drab course for a generic MBA when you could be forging your own future from your workstation.
Business school is challenging, but it will not prepare you for the difficulties faced in business. Courage, improvisation and determination are key qualities of a successful entrepreneur and are not even addressed in an MBA program. For many students business school has exactly the opposite effect by encouraging by-the-book learning and memorization of concepts rather than adaptation. If you want to succeed in business nurture your entrepreneurial spirit, if you want to agree enthusiastically with executive decisions go to business school.
Business is a cutthroat world with often petty justifications for actions. In HR and Recruiting departments having an MBA often puts you above your superiors in terms of education. This imbalance is sure to cause problems and can often cost qualified applicants employment opportunities. Avoid obtaining an MBA if applying for these positions or, if you have one, leave it off the resume.
CIO examines the reasons why IT executives don't need an MBA, most of them relevant to those interested in general business as well. It is a time-consuming, costly, boring and in some cases unnecessary venture. It won't teach you about office politics or other supplemental skills in the workplace. Beside, many executives at high level companies have only a bachelor's degree.
For entrepreneurs getting an MBA can be a set back. They tend to analyze their strengths and how to use them rather than setting goals.They tend to shake up business models to get results rather than look determine the right answer to the question. All of the things you learn in business school, you will have to unlearn as an entrepreneur.
One thing to remember about cost-benefit analyses: they are mostly wrong. There are so many aspects to consider when it comes to business school that no one equation will suit every individual. Before you believe the manipulated numbers take a look at how the calculations were conducted and see if you can spot any holes in the logic. An MBA is almost always a worthwhile investment, don't let the stacked statistics fool you
Return on investment (ROI) is a business tool that is also useful in determining the cost-benefit ratio of obtaining an MBA. There are many ROI calculators for specific business schools online, but only calculating this yourself will yield personally accurate results. This article shows the equations needed to determine this number on your own. Be business-savvy in pursuit of an MBA and deduce your choice based on its probable ROI outcome.
Forbes' tool calculates the relative value of an MBA at different business schools around the world. The queries can be filtered by numerous criteria to find what you need. Comparison can be drawn from time to break even, average salary out of school, average five-year salary, GMAT scores and other variables. For students wondering which business school works for them this is a great resource.
For 2011 MBAs are looking up. More graduates are getting more jobs, better offers and higher starting salaries. They also have a marked increase in pay over their colleagues with mere bachelors. Most importantly the prospects for MBAs have increased over the last few years and show little sign of stopping.
The MBA Podcaster provides applicants with videos and instructional talks on how to get into the business school of your dreams and what to do with your masters. Students tell their application secrets that earned acceptance at some of the nation's top business schools. Admissions personnel describe what they are looking for in students and give advice on how to prepare enrollment materials. Whatever you want to know about an MBA program and the opportunities following is discussed by the authoritative and experienced speakers here.
Whatever your reasons for applying to graduate school, don't make yourself sound desperate. If you are returning because you were laid off or cannot find a job stating this is likely to reduce your chances of acceptance. Students need a forward-thinking and positive outlook to succeed in business school. Don't expect pity from the admissions council, they are looking for strength.
These admissions representatives have a lot to say about what it takes to get into an MBA program. Your applications should tell a narrative of why an MBA is right for you. They should explain what you bring to the school and what the school will do for you. Remember the application is about you and should address why you, personally, are the best candidate for the school.
In recent years business schools around the world have begun to incorporate an interview with the traditional application. This is a new challenge for students and is understandably stressful. This guide is an in-depth analysis of possible questions, appropriate answers and strategies for success in an interview. If you follow these rules and practice sufficiently your interview will elevate your chances rather than eliminate you from the running.
Ask the Harvard MBA is a forum for current and aspiring business students to find advice on their pressing issues. Many of the suggestions involve applying to business school though some are about an MBA or business in general. Whatever your concerns are, they are likely addressed here. Plus a good dose of humor goes a long way to dispelling application anxiety or unrealized employment expectations.
This MBA graduate started his academic career as an engineer but soon learned it was not his preferred profession. After struggling in science for six years he decided that business school was the best choice for him, even though as an engineer he wasn't sure he would fit in. His experiences in applying and the classroom are invaluable to those considering an MBA. All aspects of the admissions office are covered including the increasingly popular interview and unconventional approaches like starting an impressive, but modest, business.
Paul Bodine is an admissions consultant for business school and recently fielded questions on the application process via chat room. Since the questions are asked, presumably, by those wishing to enter an MBA program they deal with some of the most confusing aspects of the application process. Many deal with the essays necessary for applying, though GPA, GMAT scores and background information are also touched on. Learn how to make an impact with the advice of this expert on business school admissions.
The personal interview is the most stressful piece for many MBA applicants. These questions and suggestions should help you prepare for even the most daunting and unexpected queries. Some of the advice is standard interview fare, but most relates directly to applying to the business school of your dreams. If you stay calm, anticipate questions and prepare for them you are almost guaranteed a place.
Many working in the nonprofit sector believe they do not need an MBA. Not so, a business school graduate has as much value for businesses working for change rather than revenue. As this application story's hero shows, not only corporate enterprise moguls need this certification. No matter what your background is, if you are hard working and have entrepreneurial goals you can succeed in getting an MBA.
ClearAdmit is committed to fulfilling the needs of anxious MBA applicants. It covers everything including GMAT preparation, essay writing, strategy and deadlines for individual schools. News about changes to the admissions process, acceptance trends and policy guide students in molding their application to current events. It also features some of the best places to find information on specific schools and from previous applicants.
Microsoft recently hosted a panel of prior MBA students, admissions personnel and other officials involved in recruiting for business schools. The purpose of the event was to answer questions about increases in applicants and how this effects the admission process. Standing out, of course, is much tougher when the pool of qualified candidates suddenly grows. Hear what these veterans have to say about distinguishing yourself in fierce competition.
Beat the GMAT is chock full of resources for applicants to outsmart the test. Advice on specific questions, the general test makeup, and tips to relieve stress are designed to return the best score possible. Content comes from real business school students, admissions personnel and seasoned graduates to ensure relevancy. Avoid the hassle of the General Management Admissions Test by knowing what to expect.
The GMAT Club forum is the stomping ground for those wondering about the business school admissions test. Find tips from those who have already taken it or voice your personal frustrations to get answers. Each aspect of the test is covered from studying to preparatory courses to the test day. Additional information on business school life, applications and alternatives is also available.
This applicant obtained a 720 on the GMAT and wants you to achieve a similar score. Honest reviews of study materials used including books, courses and online materials, start aspiring grad students off on the right track. Analysis of each section of the test shows what to look out for and how to approach questions. Practical tips to prevent you from getting bogged down in your studies are helpful as well.
Online education is a new development for the business savvy to consider. It provides the same degree and opportunities as a traditional school, with a couple catches. The lack of face to face time with your peers may be a downside for some and it is unclear how much effort is put in to finding recent graduates jobs. Even so, for those comfortable in their career and unwilling to quit their job an online degree can be a great alternative.
Kaplan and University of Phoenix are not the only names in online business education these days. Big names business schools like Kelley, Tepper and Fuqua are using the internet to tap into the older, professional crowd interested in part time schooling. Still, for-profit online schools often do not get much recognition due to their open enrollment and concerns about the value of student interaction. If you want a resume booster, traditional education is your best bet, but there is no reason an online school cannot teach you the business skills needed for success.
While online degrees have usually been brushed off by employers this is not always the case. This older student figured he could return to school and earn a promotion at the company he had worked with for nine years. Unfortunately hard times hit and he was let go, forced into the endless cycle of job applications and interviews. Even so, he landed a better paying job and the reason, he was told, was his online MBA.
As you can imagine the ten most respect online MBA programs come from some of the top traditional schools in the country. This list not only displays the top ten but explains why they earn this ranking based on faculty contribution and graduate achievement. The length of the program and technological content are described as well. If you want to know where your money will be best spent look no further than these ratings.
With UNC's business school now offering online MBAs and established names like University of Phoenix enrolling more students than ever, it may be time to reconsider distance learning's stigma. Many of these schools are approved by the same body that accredits brick and mortar schools. Rather than bemoan distance education, UNC officials are excited about new directions possible with the technology used in online courses. Distance learning is here to stay, but where it goes from here is still a mystery.
Online MBAs are a new development, and should be approached with caution. Students need to inspect the curriculum to see if it resembles that taught in traditional business schools around the country. Accreditation is also an issue, with many online outlets lacking internationally or even nationally recognized approval. With these two factors in mind, aspiring entrepreneurs can make the most out of an online education.
This five part series examines the MBA program at University of Phoenix, a popular name in distance learning. He covers everything from the moment he chose to apply to his experiences in collaborative study teams. Both positive and negative aspects of online education are highlighted for a balanced perspective. While there are definitely some downsides to the isolation of online education, the benefits outweigh the drawbacks.
Online MBA programs are not one single thing. Different accreditation, curriculum, time commitments and requirements provide a lot of options for students. Some predominantly online courses include a few in-person sessions, an important factor for those pressed on time and money. This variation is good for students though, with a course suited to each individual's needs.
The Personal MBA is receiving rave reviews from the critics and business leaders alike. They see it as a "way to hack business school" and a "breakthrough approach to business education". Learn what you are missing out on by not getting an MBA or what you are overpaying for in business school. Just by reading less than 500 pages you will rival those who spent two or more years of their lives in college.
The Personal MBA is more than just a book with business tips. In all it comprises an online community of professionals sharing advice and recommending resources helpful in building business knowledge. Some academics even agree with this strategy, arguing that experience is the true measurement of professionalism and MBA programs simply offer a guided tour to the insights provided by business leaders. While it may not get you a promotion or new job, The Personal MBA can teach the skills needed to start up your company or diversify your skill set.
MIT Open Course Ware is available in many subjects, including business. Lecture notes, assignments, textbooks, projects, exams and other content is available for many of the classes. These are free resources available to anyone with an internet connection. Test your knowledge, gain an introduction to business and see if its for you with these convenient overviews.
Many professors and organizations recommend books to read to increase your business knowledge. These are a few suggestions from business faculty around the world. The books were chosen during the Great Recession and meant to give insights on business in hard economic times. Find one who specializes in your interest and find out where they earned their expertise.
MBA Depot has tons of information for anyone interested in business. Articles, case studies and multimedia are offered on all topics related to business. Resources are collected from all over the web and reviewed for quality. Get an introduction to business from expert opinion, bloggers and others with relevant insights.
US News is the most popular source of school rankings in the United States. This standing is true in their ranking of business schools. They give basic information through their website but more detailed statistics are only available upon subscription. While many have questioned the system's accuracy, they remain the most commonly cited ratings in college evaluation.
The Financial Times rates schools based on a number of different factors. They divide their rankings by region and specific programs for MBAs, EMBAs and Masters in Management. All are available in both an interactive version with filters and a PDF form with just the facts. Back issues are archived so you can see if schools are making progress or dwindling in prestige.
The recession of 2008 was a reality check for business schools. Seeing many of their graduates lacking job offers, they had to act fast to keep their reputation as placement programs for the nation's top companies. They are embracing new technologies and strategies to give their students the best possible access to employers. While the economy continues to sputter MBA students are finding innovative ways to find work, even if recruiting from top colleges has slowed.
Business school rankings are great to help students decide where they want to go, but are they accurate? Business Week claims they are lacking when it comes to evaluating instructional quality, student experience and the college atmosphere. Instead they suggest a rating rather than ranking system where MBA programs are judged based on many factors. This will not only help students choose their program but give schools reasons to improve their teaching strategies rather than depend on the conventional metrics.
