Student's Checklist for Choosing the Best MBA College

Choosing an MBA program is not easy and requires time and effort to make the right choice. There are a number of factors to consider such as your professional goals, financial resources, and work-life balance needs. If you have sought the advice of friends, family and coworkers, then you already know that everyone has an opinion of what’s best for you.

That’s why we’ve created this checklist – to help you make the decision the way an MBA graduate would address a real-world business dilemma.

Some students have found it useful to rank MBA programs using the questions below on a 3 point scale: 1 – Below average, 2 – Acceptable and 3 – Exceptional. Scoring a 1 in a single category should not automatically disqualify a program. The total scores will make it obvious as to which schools should be pursued and which should be dropped from consideration.

The final call on the MBA program will most likely be made based on your intuition and gut instincts. Before you get there, answering the questions below should help narrow the field and shed light on the best candidates for you.

The questions are not presented in any particular order of importance. Feel free to rearrange them according to your specific situation and priorities.

1. What type of program is best for me?

The true value of the MBA lies in its ability to prepare the next generation of business leaders. Every business leader needs a solid understanding of the foundational business skills: Accounting, Marketing, Finance, Economics, Data Analytics, Operations Management, and Strategic Planning.

Are you looking for a program that offers a broad business curriculum or one that allows for specializations? Many schools offer specializations or concentrations in entrepreneurship, finance, management, marketing and supply chain management. The decision to specialize or pursue the more general route is ultimately yours to make and may impact how future employers evaluate your credentials. Before deciding, consider the following:

• If your desired profession or industry has a strong outlook and offers plenty of avenues for long-term growth, then a specialized MBA may be the right choice.
• If you are seeking a career with greater flexibility, select a program with a broad-based curriculum.
• If you are looking to combine the best of both options, choose a general MBA program with elective tracks, such as one that offers the Project Management Professional (PMP) certification.

With an increasing number of options to choose from, finding the right MBA program that meets your goals and learning style is entirely possible.

2. How would you rank the quality of the faculty?

Choose a program where the faculty have practical business experience as well as academic expertise. What percentage of the faculty has terminal degrees in their respective fields? Ask how many courses, if any, are taught by Teaching Assistants or Adjunct Professors. Adjuncts can bring a wealth of relevant experience to the classroom or can be a sign of faculty turnover.

Are professors available for assistance outside the classroom? Does the program have a faculty mentor program? Ideally, you’re looking for a balance of solid teachers with good business experience who have the time and interest to help you succeed.

3. Is the size of the program a good fit?

In general, a smaller program may allow for more individualized time and attention while the larger ones leave you with a wider alumni network. Class sizes can vary greatly so before your decide, know what kind of classroom experience is best suited to your learning style.

During your search you may come across programs that utilize a cohort model. A cohort is comprised of a group of students who take all the same courses in the same sequence. The size of cohort MBA programs is typically on the smaller scale, and can range anywhere from 15 to 35 students. The benefits of this type program include:

• A shared learning experience with enriching discussions of real-world business issues among a diverse group of professionals.
• Development of collaboration, leadership and teamwork skills, necessary for success in today’s workplace.
• Experiential learning that enables students to think independently and develop their own conclusions and ideas.
• A professional and personal network that may continue long after the degree has been awarded.
• A clearly-defined timeline and format allowing working professionals to complete their an MBA on time.

Ultimately, you’ll need to decide if you’re more likely to succeed in a small intimate setting or one with dozens of students in a class. Depending on your professional needs and personal goals, this may be one of the most important factors in selecting the right program.

4. What kind of accreditation does the school have?

Accreditation is the hallmark of excellence for colleges and universities. The Association to Advance Collegiate Schools of Business (AACSB) is recognized as the premier business school accreditation institution in the world. Less than 6% of the world’s 13,000 business programs are able to meet the strict guidelines for AACSB International accreditation. On average, it takes 5-7 years to satisfy AACSB’s accreditation standards. Once earned, AACSB conducts a review of the program every five years. Choosing an AACSB school will insure you of a quality education.

5. Does the school provide a global perspective?

Let’s face it; the global marketplace is a lot smaller today than it was just 5-10 years ago. Today, even newly minted startups begin life with an international footprint, either sourcing materials and/or selling products overseas thanks to the internet. It is increasingly likely that at some point in your business career you will spend some time overseas. Having knowledge of the cultural differences and the know-how to manage across geographies is invaluable to today’s business professional.

Programs that attract international students are able to add a degree of diversity of thought that would otherwise be absent from the classroom. Many programs include an international immersion trip as part of their curriculum because nothing beats a first-hand learning experience.

6. What are the total costs, including opportunity costs?

One of the most frequently asked questions by MBA applicants is, What’s the return on my investment (ROI)? The answer can’t be found by simply analyzing first-year salaries after graduation. The best measure of value is judging over time how much your career has been impacted by your MBA.

Programs with active involvement from corporate partners, particularly those located near a metropolitan center, provide both off-campus learning opportunities as well as an avenue for future employment.

Many MBA graduates believe the cost of their MBA is worth it in the long run. Choose a school that is going to help you develop the skills and capabilities you need to succeed in the long run, not just the day after the graduation ceremony.

Take your time, review all your options and make the best decision for your future.

The MBA Program at Ramapo College

Mahwah, New Jersey, just an hour drive northwest of New York City, is home to Ramapo College’s 20-Month Accelerated MBA Program.

The college is accredited as one of the top AACSB business schools in the area, with a program focused on leadership skills, critical thinking, and international management. Students spend two nights a week on campus where two-thirds of the curriculum is delivered and the rest is completed online. In the fall of the second year, students spend a week in China and the final term working in small teams as consultants for one of our corporate partners.

Graduates emerge with a better understanding of the business world and with the kind of leadership skills needed to succeed in today’s fast paced marketplace. Along the way, you won’t have to quit your day job.

Categories: MBA