Earning a Master of Business Administration (MBA) is a significant investment. Accreditation is a crucial factor in ensuring a high-quality education recognized by employers. It involves an external agency evaluating a business school's program to meet specific standards for teaching, faculty, curriculum, and student outcomes, ensuring a rigorous and relevant education.
AACSB, one of the leading accrediting bodies, has accredited 820 business institutions in 53 countries and territories, signifying programs that meet high standards. Graduating from an accredited school not only assures a top-notch education but also enhances career prospects and the value of your degree.
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What is MBA Accreditation?
An MBA accreditation certifies that a business school's program meets specific quality standards. Accreditation is granted by independent accrediting bodies that evaluate various aspects of the program, such as the curriculum, faculty, student services, and graduate job opportunities. There are several prominent accrediting organizations, each with its criteria and global reach.
Importance of MBA Accreditation
MBA Accreditation gives an external assurance of the quality of an MBA program. It ensures that the program complies with the industry requirements. Here are a few reasons why MBA recognition matters:
- Quality Control: Accreditations ensure the MBA program complies with the required quality. Top programs around the country tell you that your program includes a rigorous and substantive curriculum.
- Increased Opportunities in the Global Job Market: Since an accredited degree is recognized and valued worldwide, you can easily work and study anywhere.
- Employer’s Confidence: Employers have confidence in an accredited program because graduates from one program will have learned the industry standard material, making them better qualified for employment.
- Cyclical Accreditation: The bodies that accredit programs conduct ongoing evaluations and refinements to ensure the program remains competitive with changes in market conditions and advances in state-of-the-art.
- Student Services: Most accredited universities have the right types of resources in place to provide overall student support beyond academic assistance, such as career advisory, internships, and placements.
In simple language, all this means is that the standards of MBA accreditation are a proxy for quality and preparing students for an educational experience that is relevant today.
Types of MBA Accreditations
There are two types of Accreditation, namely Regional and Business Accreditation.
1. Regional Accreditation
Exploring regional accreditations is essential when researching MBA programs in the United States. These accreditations typically apply to state and non-profit schools. Statistics indicate that around 80% of universities and colleges in the States possess regional accreditation. The table below illustrates the various regional accreditations available, including their corresponding states and cities.
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Acronym |
Accreditation |
States |
|---|---|---|
|
MSCHE |
Middle States Commission on Higher Education |
Delaware, District of Columbia, Maryland, New Jersey, Pennsylvania, and New York. |
|
NECHE |
New England Commission of Higher Education
|
Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. |
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HLC |
Higher Learning Commission
|
Arizona, Arkansas, Colorado, Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, New Mexico, North Dakota, Ohio, Oklahoma, South Dakota, West Virginia, Wisconsin, and Wyoming. |
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NWCCU |
Northwest Commission on Colleges and Universities |
Alaska, Idaho, Montana, Nevada, Oregon, Utah, and Washington. |
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SACSCOC |
Southern Association of Colleges and Schools Commission on Colleges
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Alabama, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Texas, and Virginia. |
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WSCUC |
Western Association of Schools and Colleges University Commission |
California, Hawaii, and multiple islands and territories in the Pacific Basin. |
2. Business Accreditation
You should familiarise yourself with five primary business accreditations. Below, we've detailed and explained each of them comprehensively.
Accreditation Council for Business Schools and Programs (ACBSP)
Since the 1980s, ACBSP has been accrediting business programs, earning a reputation as one of the most highly regarded business accreditation bodies. It primarily focuses on promoting teaching excellence and ensuring positive post-graduation student outcomes.
This accreditation's core values and principles emphasize continuous improvement, quality design, faculty development, rapid response, leadership, fact-based management, partnership development, public accountability, and results orientation. Business schools offering ACBSP-accredited MBA programs include the David B. O’Maley College of Business, Embry-Riddle Aeronautical University, and the Jack Welch Management Institute.
Association of MBAs (AMBA)
The Association of MBAs (AMBA) has rigorously evaluated and accredited over 240 MBA programs across 70 countries. They are particularly active in the UK (accrediting over 40 programs), China (32 programs), France (21 programs) and India (13 programs). Striving for excellence, AMBA accreditation is highly selective, only awarded to programs ranked among the top 2% in their nation. Examples of prestigious institutions with AMBA accreditation include Hult International Business School and Olin Business School at Washington University in St. Louis.
Association to Advance Collegiate Schools of Business (AACSB)
The Association to Advance Collegiate Schools of Business (AACSB), a leader in business program accreditation since 1920, puts schools through a rigorous evaluation process. To earn AACSB accreditation, business schools must demonstrate excellence in strategic management and innovation, prioritize learner success, and actively contribute to societal impact. W.P. Carey School of Business at Arizona State University and the Kelley School of Business at Indiana University are just a few of the many prestigious institutions with AACSB accreditation.
Job & Average Salary after MBA in USA
European Quality Improvement System (EQUIS)
The European Foundation of Management Development (EFMD) takes the reins on business school quality through its EQUIS institutional accreditation system. Much like AMBA, it focuses on accrediting top MBA programs outside the US.
EQUIS prioritizes both rigorous quality control and a commitment to continuous improvement. Several prestigious business schools hold EQUIS accreditation, including FW Olin Graduate School of Business at Babson College, McCallum Graduate School of Business at Bentley University, and the globally recognized Hult International Business School.
International Accreditation Council for Business Education (IACBE)
The International Accreditation Council for Business Education (IACBE) emerged as an alternative to AACSB's research-heavy focus. IACBE prioritizes factors that directly impact MBA student success. With over 140 accredited business schools in the US and a presence in the UK, IACBE is a strong player in the accreditation landscape. Examples of institutions with IACBE accreditation include Nathan M. Bisk College of Business at Florida Institute of Technology and the School of Arts, Science, and Business at Chatham University.
Also read: How do you study for an MBA in Germany for free as an Indian student?
Does MBA Accreditation Matter?
MBA accreditation is important because it ensures the program meets high-quality standards. This enhances its credibility and recognition and is crucial to a student’s career advancement. Accredited MBA programs are recognized globally, provide valuable networking opportunities, offer better resources and student support, and give a higher ROI. Employers often prefer candidates from accredited programs.
- Ensures high standards of quality and rigor
- Enhances credibility and recognition
- Crucial for career advancement
- Recognized globally
- Provides valuable networking opportunities
- Offers better resources and student support
- Results in a higher return on investment
- Preferred by employers in hiring decisions
From the Desk of Yocket
Accreditation isn't just a stamp of approval; it's a mark of excellence. Accredited MBA programs undergo rigorous evaluations to meet high curriculum, faculty, and student outcomes standards. This process elevates the institution's reputation, granting it credibility, status, and international recognition. The more prestigious the accrediting body, the higher the program is regarded, making it a valuable asset in your educational journey and career advancement.
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