The Master of Business Administration is one of the most popular and sought-after degrees around. It is highly marketable and widely recognized by employers and peers alike. MBA helps a person polish his business management skills regardless of his background.
You might think that the only way to get an M.B.A. degree is to attend a course at some prestigious university, not working for two years and by giving up a large chunk of money in the process. While this used to be the case, it has really become an exception rather than a rule. Business schools everywhere have found ways to make the degree more flexible and more available to different kinds of students.
You Have Options: MBA programs come in all shapes and sizes. Each program varies in its admission requirements, course content, program length, attendance requirements, costs, and in many other parameters.
Below are some of the many questions you should ask yourself before starting an MBA program. Going for an MBA can be exciting but it can also be quite challenging. Properly evaluating these personal and lifestyle factors should enhance your chances of success.
The one-year MBA programs in India are relatively new. They are meant for applicants with work experience who are looking to upgrade their management skills and fast track their career progress. ISB started it, and now IIM Ahmedabad and IIM Calcutta have also started one-year MBA programs. S. P. Jain also offers a one-year program but only for those interested to specialize in manufacturing and operations or information management. The cost of these MBA programs for working executives is much higher than those of the regular two-year programs in India. Loans from banks to finance all or part of the expenses are easily available to selected applicants.
There are more options available if you plan on going abroad for your one-year MBA. If you seek an international study experience and employment abroad on completion of the program, these programs provide good opportunities: INSEAD, IMD Switzerland, Said School of Business (Oxford University) and Judge Business School (University of Cambridge) in Europe. Kellogg and Emory University are the good options in the US for a 1-year MBA. Costs including living expenses can be much higher in Europe and US. In addition to the higher expenses, MBA programs abroad can be more competitive too. You compete globally for fewer number of seats that may be allocated for applicants from India. There is no strict number that schools allot to applicants from each country but they don’t take too many from each country to ensure diversity in the class.
What to Look for in an MBA Program?
When you seek out an MBA program,
The right MBA program will provide you with the theoretical knowledge as well as more practical experience. It will also instill a sense of self-satisfaction and respect for others, and equip you with the networking skills necessary to succeed in the business world today.
The writer of this piece is English (Hons) from the prestigious JMC (DU), She is an expert English trainer for the CAT and the GMAT and mentors students at MBAGuru, Leader in Adaptive Preparation for CAT. Her adaptive style of teaching cuts across backgrounds and learning stages of students and helps them transition to their respective next levels.
My time with MBAGuru has been quite an experience. The faculty here is as good as it can be - Rohit sir is the wittiest teacher I’ve met & Tina ma’am is one of those very few teachers who really want you to succeed. And then there’s Vikram sir, he is the best GD-PI mentor one can get. The administration here is also top class. They give their 100% to make you avail that particular session :p. I don’t know if I could have achieved what I have, if it were not for MBAGuru.