An MBA is a holistic and dynamic business education that develops your business knowledge base as well as helps you become an effective communicator and team player. Strategic problem-solving skills, personality development, adaptability, flexibility and leadership qualities are highly in demand everywhere regardless of the industry or position. Earning an MBA indeed is an incredible opportunity and can open many career doors.
If you have decided to pursue an MBA, you must consider many aspects: Which MBA is best for me? Which schools should you apply to? Do you want to be a full- or part-time student?
In this blog, we have discussed everything about how to choose MBA stream that aligns best with your career goals, including some tips and parameters of finding the right MBA program.
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Why is Choosing the Right MBA Program Important?
An MBA abroad requires a considerate amount of time, effort and finances. So, choosing the right MBA program is of utmost importance to ensure its utility in your life and career. There are are different types of MBA abroad that targets different set of students. Based on your educational qualification, years of professional experience and convenience, the popular MBA programs abroad are mentioned below:
- Full-time MBA: It is for the students who are willing to leave their job and dedicate their full time to the weekday classes and studying.
- Part-time MBA: It is for those who wish to enhance their career by acquiring managerial skills while still being employed.
- Executive MBA: It is designed for experienced and working executives, managers, entrepreneurs, and other business leaders.
- Global MBA: It aims at providing international business experience to its students. The classes are conducted in different classroom environments, at times different countries and cultures too.
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Now that we have covered the different types of MBA and the importance of choosing the right MBA program, let us see how to pick an MBA program:
How to Choose an MBA Stream?
MBA aspirants are often confused with the questions of ‘which MBA program is right for me?’ To answer this question we have listed out the parameters to consider while finding the right MBA program:
Length of the program
The traditional MBA programs are two-year in duration. Business Schools are developing MBA programs that can be completed in a shorter period of about one year. Both one-year and two-year have a similar number of credit hours. What differentiates the programs is the schedule, with one year programs holding classes most days of the week, or multiple full days of classes each week, or even holding classes on weekends which allows the curriculum to be covered in one year. Two-year programs will have less classes held each week, and weekends are usually free.
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Both one year and two year MBA offers varied the business fundamentals specializations, including Marketing, Finance, Accounting, Business Analytics, Hotel Management, and so on. Electives are courses that allow you to delve more deeply into a particular subject and go beyond what is covered in the core classes. For example, students interested in marketing may take an elective course on digital marketing. Two-year programs also allow students to explore experiential learning outside of the classroom. This can take on the form of an internship or getting involved with student groups. Some two-year programs offer additional flexibility in class format, allowing students to take a hybrid of online and in-person courses.
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Intensity of the program
A condensed curriculum implies rigor and intensity. The MBA programs abroad are extremely demanding, and led in a cohort structure with a set curriculum and schedule. For one year programs the structure is intensive, resulting in less time off during the year, and less time for socializing and networking outside of the program. It will require focus and stamina and resilience, which is not lost on many employers who recognize the drive and discipline required to complete such a program.
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Besides curriculum, the cost of studying various types of MBA abroad is another differentiating factor to consider while applying for an MBA program abroad. When looking at the length of time paying tuition and lost wages, one-year MBAs have the better return on investment. Less time spent away from industry also means the ability to stay in touch with trends.
So these are some of the important factors to consider while choosing the best MBA course abroad. Let us now look at the career prospects of an MBA degree:
Career Opportunities After MBA Abroad
The career opportunities after completing an MBA abroad are quite vast. The proper knowledge and skills one acquire while studying their respective MBA courses help them in stepping into the world of competitive job market.
A list of some popular job profiles for MBA graduates with their average salary are:
Average Annual Salary
$57,000 - $92,000
Senior Financial Analyst
$67,000 - $125,000
$51,000 - $88,000
Business and Data Analyst
$40,000 - $90,000
Human Resources Specialist
$40,000 - $75,000
$46,000 - $92,000
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Finding the best MBA program abroad is a subjective proposition, and thus a difficult decision. Students may initially be drawn to program rankings and the university campus, but there are many nuances to think about such as program length, cost of tuition, scholarships offered, admission requirements, delivery mode, location , specialisations offered, internships and professional development to name a few. Decide on any top three priorities to narrow down prospects and start researching early. This will also give enough time to prepare for entrance exams and application deadlines, especially programs with early action.
For any guidance to assist you in reaching the MBA college of your dreams, get in touch with our counselors at Yocket now!