Masters of Business Administration or MBA as we all know it is a post graduate program offered by a vast majority of universities across the globe. MBA typically cover business area like that of Finance, Marketing, Entrepreneurship, Supply chain, Economics, IT, etc. in a manner most relevant to management analysis and strategy.
Universities offering MBA are guarded by Accreditations bodies which ensure consistency and quality assurance in their teachings.
Choosing an MBA program that best fits a student profile can be very tricky .Out of the many questions that ponder in a student’s mind below are some of the most important questions that every student would like to get some hands on information on:
– How to choose which MBA Program is best for me?
– Which country should I do the MBA from?
– What are the rankings of the school offering MBA?
– Should I go for a One year program or a part time or a full time two year program?
– Cost of studying the degree?
– Can I opt for single degree or a combined degree specialization?
– What are the entry requirements in MBA universities?
Below are some of the points that can help decide which MBA program best suits your profile:
- Choosing an MBA Program
An MBA program can be compared on various attributes like that of its rankings, size of the program, prestige, salary package and so on.
? Based on Rankings
Rankings can be picked up from various sources like that of Forbes, U.S School News Graduate School, the Economist MBA Ranking, The Bloomberg Business weak MBA and Financial times Global MBA Ranking.
On the basis of FT Global rankings, below schools made it to top 10:
| Ranking | School | Country |
|---|---|---|
| 1 | INSEAD | France/Singapore |
| 2 | Harvard Business School | US |
| 3 | London Business School | UK |
| 4 | University of Pennsylvania: Wharton | US |
| 5 | Stanford Graduate School of Business | US |
| 6 | Columbia Business School | US |
| 7 | University of California at Berkely:Haas | US |
| 8 | University of Chicago: Booth | US |
| 9 | MIT Sloan | US |
| 10 | University of Cambridge: Judge | UK |
Other than these global rankings, countries have their own individual MBA rankings as well.
According to US NEWS Education the top 5 MBA Programs in US are:
| Ranking | University |
|---|---|
| 1 | Harvard Business School |
| 2 | Stanford University: Stanford Graduate School of Business |
| 3 | University of Chicago: Chicago Booth |
| 4 | University of Pennsylvania: Wharton School |
| 5 | MIT Sloan |
Ranked by Palms League the top MBA Program in UK are:
| Ranking | University |
|---|---|
| 1 | London Business School |
| 2 | London School of Economics and Political Science |
| 3 | University of Warwick: Warwick Business School |
| 4 | University of Cambridge: Judge |
| 5 | University of Oxford: Said Business School |
Rated by topmba.com Singapore has the following top programs:
| Ranking | University |
|---|---|
| 1 | INSEAD Asia Campus |
| 2 | NUS Business School |
| 3 | Nanyang Business School |
| 4 | Lee Kong Chian School of Business |
| 5 | Manchester Business School |
Australian Financial Rankings rate the below schools in their TOP 5:
| Ranking | University |
|---|---|
| 1 | University of Queensland Business School |
| 2 | Melbourne Business School, University of Melbourne |
| 3 | Queensland University of Technology (QUT) Graduate School of Business |
| 4 | Griffith Business School, Griffith University |
| 5 | University of Southern Queensland (USQ) School of Management and Enterprise |
? Based on Entry Requirements
The requirements differ with every university, however the generic norms are:
| US/Canada | Australia/NZ | UK | |
|---|---|---|---|
| Eligibility | Minimum 4 years education after 10+2 | 3 years graduation | 3 years graduation |
| GMAT | Essential | Not required | Not required |
| Work Experience | Recommended /Required for most school | Essential | Essential |
? Based on Cost of Programs
Keeping in mind the cost of the program and a student’s available resources, one can decide which university the student wants to go. Below is a snapshot of the top universities and their yearly tuition fees.
| Ranking | School | Country | Cost per Year (Tuition) |
|---|---|---|---|
| 1 | INSEAD | France/Singapore | €73,500 |
| 2 | Harvard Business School | US | $63675 |
| 3 | London Business School | UK | £70,800 |
| 4 | University of Pennsylvania: Wharton | US | $73634 |
| 5 | Stanford Graduate School of Business | US | $66540 |
| 6 | Columbia Business School | US | $68792 |
| 7 | University of California at Berkeley: Haas | US | $61713 |
| 8 | University of Chicago: Booth | US | $66540 |
| 9 | MIT Sloan | US | $68250 |
| 10 | University of Cambridge: Judge | UK | £51,000 |
MBA has become one of the most sort after degree for students as well as working professionals as it provides an ideal platform to take their careers to the next levels thus significantly enhancing their employability and career prospects.
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