Selecting an MBA college is a significant decision. Since there are various options to choose from, the process can become quite overwhelming, and one may find difficulty deciding where to start. Given below are six steps that can help get a head start in determining which college to choose.
Why MBA?
One of the most asked questions to any candidate during the selection process and also during their two years at an MBA college is “Why MBA?”. Therefore, it is necessary to define one’s goals clearly. The critical factors in deciding the direction to focus on should be domain change, career growth, and learning.
Spending time on this question and relating one’s expectations to their post-MBA career goals will drive the selection process.
Frame Criterion and Prioritize
Pursuing an MBA is a massive investment, not only in monetary terms but also in terms of the amount of time one has to invest while making a decision of this scale. Hence it is of paramount importance that anyone making this decision understands what they want out of an MBA. It is necessary to create a complete list of reasons and evaluate these reasons based on significance.
Select Program Type
An MBA offers various specializations like finance, operation, marketing, HR, etc. Unlike a general MBA degree some B-schools also offer domain-specific degrees. The freedom to experiment and learn that a general program provides is a boon as it gives a deeper understanding of one’s interests and strengths. In contrast, a domain-specific program ensures that the chosen domain is thoroughly explored and understood.
Assess the Options
Many criteria should be considered while comparing colleges, such as placements, faculty, accreditations, fees, location, and alumni base. One should prioritize this criterion based on their requirements and weigh each available option on these aspects. An assessment made while incorporating this process will provide a clearer understanding of which institutes are best suited to meet the candidate’s requirements.
Speak with Alumni and Current Students
Interacting with alumni, students, and various other stakeholders is an integral part of selecting an MBA institute as they provide an insider’s perspective of the institution. Through these interactions, evaluations can be made by comparing and contrasting what the various stakeholders’ value. These evaluations will also be a reflection of what the institute, and the community surrounding it, values.
Decide and Capitalize on Opportunities
Once a framework has been created, the analysis of the tangibles that separate institutions can be done. Now, one has to assess the intangibles, such as what values one identifies with, and balance that with the analysis that has been done. It is necessary to have a deeper understanding of an institution’s cultural and social values. These insights are imperative to maximize the opportunities and successfully overcome the hurdles one faces during their MBA. The decision being made should reflect a holistic understanding of what an MBA provides to a candidate, and requires from the candidate.
In conclusion, the process of selecting an MBA college should be just as comprehensive and rigorous as the preparation one does to get into their dream college. It is particularly significant to make the right decision as the college one attends is a lifelong association that the alumnus shares with their alma mater.