MBA. Everyone knows those three letters and what they stand for. But really, what is an MBA and how do you choose the program that is right for you? Joshua Kobb of HEC School of Management's MBA program answers the questions.
The Master of Business Administration is an academically recognized management diploma. And because it has the label MBA, it means that graduates have common set of skills regardless of where they get their degree. Despite differences between individual programs in structure, focus and environment, the MBA remains the world’s most widely recognized management degree.
A career change, redirection or boost is the most common use of an MBA. If you have a technical background but prefer management functions, an MBA can be an effective vehicle for change. It can consolidate and build on your current professional experience and propel you forward, and it can provide you with a global view of business, allowing you to be effective in any functional area within the organization. An MBA is a sign that you have made an investment in yourself and your future, that you have the global picture of the management of an organization and the business tools you need to be an effective leader.
Get you the job of your dreams. There are no guarantees on graduation—it's up to you to use your MBA, your experience and your skills to sell yourself. Waiting for the recruiters to come knocking on your door is not a good strategy. Be realistic, do your homework, and make your degree work for you. And be sure that whichever program you choose provides you with the resources and the tools you need to plan your career and spark your job search.
Most programs recommend or require that you have professional experience before you embark on your studies. This will ensure the “real-life” application of the subjects you are studying, and will allow you to make a more significant contribution to learning process. Consider the question of timing very carefully, and ask yourself if now is the right time for you. Have you gained substantial management experience to really benefit from the course? Keep your eye on your goal of an MBA, and consider the repercussions of accepting that promotion at the risk of not doing your MBA.
Given all the options, you need to ask the right questions. Get a feel for the program and the type of courses on offer, the freedom to specialize, to participate in an in-company project or whether an exchange program is important to you. Visit the campus and speak to students and alumni. Before you invest, make sure you spend wisely on the program that makes you feel best. The fundamental elements to consider include:
Source: QS TopMBA Career Guide