Which MBA Program is Right for Me? 4 Things You Should Consider

Of all the MBA programs, in all the towns, in all the world, which one is right for you?

Well, in the immortal words of renowned actor Humphrey Bogart, the right MBA program should be “the beginning of a beautiful friendship.”

Huh?!

That’s right. Your future MBA program is a lot like a beautiful friendship.

Think about it.

Like a friendship, an MBA is something you get to choose.

Like a friendship, the best MBA program helps you grow and change for the better.

And like a friendship, the right MBA program adds to your life – not detracts from it.

So, you're probably wondering, "Which MBA program is right for me?"

Here are some things you should consider when choosing an MBA program to help ensure that you’re enrolling in the one that’s best for you.

1. MBA Program Accreditation

Investing 12 months in an accelerated online program (longer for more traditional programs) is asking a lot, so the payoff better be good.

More importantly, it better net you a respected degree with value in the workplace.

To ensure its value in relation to your career, it is always best to choose a quality MBA program. And the best MBA programs start with the best business schools. The best business schools, of course, have an accredited MBA program.

But what is accreditation and, more importantly, why is it important?

At its most basic, accreditation is a methodology for evaluating the quality of a program. There are two main types of accreditation: institutional accreditation and programmatic accreditation.

Regional and national accrediting organizations review entire institutions, while specialized organizations review programs and/or single-purpose institutions.

For example, Franklin University is accredited regionally by the Higher Learning Commission and the University’s MBA program has received specialized accreditation by the International Assembly for Collegiate Business Education (IACBE), the leader in outcomes-based accreditation in business.

Other well-respected accrediting bodies include the Association to Advance Collegiate Schools of Business (AACSB), and the Accreditation Council for Business Schools and Programs (ACBSP).

But please do not assume that every program is accredited – they are not. To verify accreditation status, visit the college’s or university’s website or speak with an admissions advisor.

What matters most when choosing a master’s program? Compare features, benefits and cost to find the right school for you.
 

2. Academic Rigor & Practical Business Experience

An MBA is an MBA is an MBA – or is it?

Let’s just say that not all MBA programs are created equal.

Some are narrowly focused on a specific functional area; others are broad-based and designed to extend your reach beyond your current area of expertise toward a more competitive skill set.

With most quality MBA programs, a well-rounded curriculum will include:

• Executive Leadership & Business Strategy
• Financial Management
• Financial & Managerial Accounting
• Human Resources Management
• Marketing Management
• Operations & Project Management

Take a very close look at the MBA program you are considering, from the curriculum to the program outcomes. Some MBA programs offer an integrated program that helps reduce or eliminate redundancies across disciplines.

Then choose the program that has the qualities, characteristics and fit you need to achieve your long-term career goals.

3. MBA Program Flexibility

Whether you’re looking to increase your average starting salary, gain insight into international business or move higher up in management, an MBA can help you get there.

But apart from quitting your job and taking a two-year hiatus, the best way to pursue an MBA – if you’re a busy working adult – is through an online MBA degree program.

There are many pros and cons of an online MBA program, but suffice it to say that online MBA programs can be faster, more convenient and help you build an international peer network.

Look for a program that offers flexible course schedules, innovative MBA curriculum and a collaborative online environment, as well as one that can broaden your understanding of business while building upon your experience as a working professional.

4. Is an MBA Worth it?

Most people would agree that earning that important three-letter credential, MBA, can put you on a faster, better career track. Here’s what an MBA can be worth in terms of employment outlook, job growth and career opportunities. Employment Outlook

• The Bureau of Labor Statistics predicts a 15 percent increase in Business Administration jobs through the year 2022.
• Expected growth by occupation ranges from 9.2 percent for chief executives, to 19.3 percent for management analysts, to 22.6 percent for cost estimators.

Job Growth

• Job growth should continue with a steady increase.
• Beginning in 2012, there were 4.8 million job openings related to business administration.
• By 2022, there’s expected to be an estimated 5.5 million business administration jobs.

Career Opportunities

Job titles with six-figure salaries? Here are just a few of the potential ones for MBA grads:

• Business Operations Manager
• CEO
• Financial Analyst
• General Manager
• Management Consultant
• Marketing VP
• Senior Strategist
• Strategic Innovation Manager

So, which MBA program is right for you?

• The one that helps put you at the forefront of uncertainty.
• The one that helps you achieve your personal and professional goals.
• The one that helps you grow your leadership capabilities.

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