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If you’re interested in pursuing an MBA, you may be wondering: Does where you get your MBA matter? Should I get an MBA? What school do you get an MBA from?
There are thousands of MBA programs across the globe. Does reputation matter? When choosing the right program to achieve your goals, the best school to get an MBA from depends on several factors.
In this article, we’ll discuss the factors to consider when choosing the right MBA program for you. We’ll consider the best MBA schools, top online MBA programs, MBA rankings, MBA salary, and MBA jobs. Finally, we’ll answer some frequently asked questions about choosing an MBA program.
Here are the topics we’ll cover:
- The Role of MBA Reputation in Career Success
- Networking and Alumni Connections
- The ROI of an MBA
- Regional vs. Global MBA Programs
- Factors Beyond Reputation
- Key Takeaways
- Frequently Asked Questions (FAQ)
- Does it matter where I get my MBA?
- Does your MBA specialization matter?
- How important are MBA rankings for career success?
- Can a regional MBA provide the same benefits as a top-tier program?
- Do employers prioritize MBA reputation over skills?
- How does alumni networking differ between schools?
- Are online or part-time MBAs viewed differently by employers?
- Can I succeed in a competitive industry with a lower-ranked MBA?
- What’s the best way to choose an MBA program?
- What’s Next?
The Role of MBA Reputation in Career Success
Typically, candidates pursue an MBA degree for one of two reasons. The first reason is to accelerate one’s career path. Specifically, an MBA can help professionals move up more quickly in their current careers. The second reason candidates pursue an MBA is to pivot in their careers. Specifically, MBA programs can help candidates switch from one career path to another.
The reputation of an MBA program may help you accelerate or pivot in your career. However, this may depend on a number of factors, which we will discuss in this article.
KEY FACT:
MBA programs help candidates accelerate or pivot in their careers.
Networking and Alumni Connections
Many candidates pursue an MBA to build their networks and create alumni connections. A business professional’s network and connections are critical to success. Therefore, an MBA can grow one’s network and connections exponentially.
Most of the best MBA programs, such as Harvard, Stanford, and Wharton, have strong networks. Additionally, these top-tier MBA programs facilitate strong connections with alumni, too.
However, your specific career goals may factor into the value of a particular MBA network. For example, if you’re an entrepreneur raising venture capital, Stanford’s Graduate School of Business is valuable in building your network. Conversely, if you’re specializing in supply chain management, Michigan State University’s Broad College of Business may provide a more valuable experience and network.
In addition to the network available within the business program, consider the size and scale of the college or university networks. For example, Carnegie Mellon University has about 70,000 active alumni, whereas the University of Michigan has over 672,000 living alumni. These networks may factor into achieving your personal and professional goals.
TTP PRO TIP:
Consider how the size and scale of the college or university’s network factor into achieving your goals.
The ROI of an MBA
Is an MBA valuable? There are many factors to consider when determining the ROI of an MBA program. This formula may look different for everyone. Specifically, it really depends on what you want to gain from an MBA program.
Many graduates calculate the ROI based on their post-MBA jobs. However, others consider intangible factors such as the quality of their educational experience, access to the network, and the life experiences they gained through the program.
There are hard costs associated with pursuing an MBA — especially at the most reputable MBA programs. These include tuition, room and board, and other costs. Additionally, there are opportunity costs one must consider, such as salary.
Finally, there are short-term and long-term returns on an MBA program. Short-term returns include a higher salary. Long-term returns include the incremental salary over time and the breadth of your network. These are just some of the factors to consider when calculating the ROI of an MBA.
TTP PRO TIP:
When calculating the ROI of an MBA, consider the hard costs, opportunity costs, and short- and long-term benefits.
Regional vs. Global MBA Programs
The reputations of MBA programs vary across regions and countries. If you plan to focus your career in a specific region, it may make sense to pursue an MBA at a program with a strong regional reputation.
For example, if you’re based in Los Angeles and pursuing a career in the entertainment industry in Southern California, you might focus exclusively on Anderson or Marshall. The majority of graduates from both programs continue their careers in Southern California, where the entertainment industry is based.
However, if you plan to relocate a few times in your career or work overseas, consider a program with a stronger global reputation. Programs such as Harvard and Wharton have an exceptional global reach.
As illustrated, your career goals will dictate whether you should pursue an MBA with a strong regional or global reputation.
TTP PRO TIP:
Determine your career goals before choosing which MBA programs are right for you.
Factors Beyond Reputation
So far, we’ve discussed an MBA program’s reputation, networking, and ROI. However, there are other factors to consider. These include:
- Academic curriculum: Does the MBA provide a strong business foundation? Do the elective courses advance your career goals? Evaluate the academic offerings at your target programs to determine the best fit.
- Mode of learning: Is the MBA program offered on a full-time, part-time, hybrid, or online basis? Which of these options is best for you? Assess the time commitment and investment you want to make. Choose programs that align with your preferences.
- Student culture: Are students in the program collaborative or competitive? Which is most important to you? Talk with students and alumni to understand the student cultures of your target MBA programs. Determine which best fits your needs.
- Location: Do you prefer to live in a city, college town, or rural area? Are you willing to relocate from where you live now, or would you prefer to stay closer to home? Assess which locations make sense for you and see which MBA programs align.
These are just some of the factors to consider beyond an MBA program’s reputation.
TTP PRO TIP:
Evaluate the academic offerings at your target programs to determine the best fit.
Key Takeaways
The question of where you get an MBA and whether it matters depends on your goals. There is likely more than one program that will help you achieve them.
Assess what you need from an MBA program, research your options, and create a shortlist. Then, talk with students and alums to learn more. Finally, create a targeted application strategy to put your best foot forward. Good luck!
Frequently Asked Questions (FAQ)
Does it matter where I get my MBA?
It depends on your goals. Generally speaking, the best MBA programs in the U.S. will provide the strongest benefits — especially if you’re making a career pivot. However, these are also the most competitive programs, often requiring the highest MBA scores. If you plan to stay in your current career and just need an MBA, the program may not matter as much.
Does your MBA specialization matter?
Many of the top MBA programs offer a general management degree. However, they also provide an opportunity to specialize in specific areas.
If you have very specialized interests (such as entertainment), the MBA program might matter. However, if you’re pursuing a more common career path (such as consulting or financial services), many MBA programs will help you achieve your goals.
How important are MBA rankings for career success?
MBA rankings are one way to assess the competitiveness and value of MBA programs. Consider incorporating MBA standings into your evaluation.
However, we do not recommend using rankings as your only way to evaluate MBA programs. Determine your goals, do your own research, and talk with students to identify the right programs for you.
Can a regional MBA provide the same benefits as a top-tier program?
It depends. If you’re specializing in an area that the regional MBA provides, you might gain the same benefits — and at a lower cost. However, if your aspirations are global, a top-tier MBA program may be better for you.
Do employers prioritize MBA reputation over skills?
If your target employers only recruit from certain MBA programs, then a program’s reputation is important. However, your skills will be more essential over time. It really depends on what you’re trying to do — and where you intend to work — post-MBA.
How does alumni networking differ between schools?
These differences depend on your target industry and function. Alumni networking will differ across MBA programs of different sizes and student cultures.
It’s important to note that large MBA programs don’t always deliver superior benefits. For example, Tuck School of Business is smaller, with just over 10,000 living alumni. However, the program has an incredibly supportive and responsive alumni network. Students rave about the benefits of Tuck’s alumni engagement — despite its small size.
Are online or part-time MBAs viewed differently by employers?
The perception across different types of MBAs depends on the employer. Some employers value any MBA — regardless of where it came from and how it was delivered. However, employers coming to campus generally recruit candidates graduating from the full-time MBA program.
Can I succeed in a competitive industry with a lower-ranked MBA?
It may be more difficult to succeed in a competitive industry with a lower-ranked MBA. However, with hustle and grit, it may be possible.
What’s the best way to choose an MBA program?
Determine your career goals and what’s important to you. These factors include the academic curriculum, mode of learning, student culture, and location. Talk with students and alums and apply to a diverse selection of programs. If you’re admitted to more than one program, determine which will deliver the best return on your investment and help you reach your goals.
What’s Next?
If you’re considering applying for an MBA but don’t know where to start, we can help! Target Test Prep’s experienced MBA admissions consultants will discuss your goals and options and help you execute strong applications.
