Consider the ‘Four C’s’ while choosing a Business SchoolWith just a few months away from the 1st round of September intake 2023, many candidates may be anxious about deciding B-school that aligns with their profile requirements and career goals. However, with the pace at which the MBA deadlines are approaching, it's time that you take some important considerations when making the big decision about your target B-school.
The concept of the four C's.'Apart from satisfying the basic benchmarks for GMAT/GRE, work experience, and GPA for an MBA program, one must consider the following factors - cost, Curriculum, Career, Culture & Community, namely the four C's'.
CONSIDERING COST/FINANCESOne must realize that an MBA certainly isn't cheap. For example, a full-time two-year MBA costs $200,000 at every B-school ranked in the top 25 in the US. Moreover, with time the cost of an MBA is likely to increase and isn't gonna be cheaper any time soon; hence, an aspiring candidate needs to consider the finances when making the decision. Moreover, it's critical to compare B-schools' financial aid offers, especially those that aren't ranked in the top 20. Also, having an offer in hand from one business school could be used as leverage for an aid package, and could definitely ask another B-school to match it or even get a better financial aid package!
CAREER
Everyone has their own unique post-MBA goals with consulting, product management, investment banking, etc. moreover, everyone applying belongs to a different industry and has a diverse academic background. Hence, it's crucial for you to choose a B-school that has a high acceptance rate for your current background and, at the same time, would help you succeed in your post-MBA goals. Therefore, choosing a business school to attend must be uniquely aligned to your career goals and, likewise, should be aspects such as culture and community to decide whether or not a B-school is a good fit.
CURRICULUMIt's deemed necessary for an applicant to go through the entire MBA curriculum to understand how an MBA fits your work-life balance. This step is crucial for people opting for a one-year program, online MBA, Evening program, and even the common two-year program, as many people are reluctant to leave their job and pursue an MBA. Hence, time and location often play an important role in this regard.
CULTURE & COMMUNITYApart from cost, rank, package, and curriculum, students are also more likely to look at the overall package presented to them, including the academics, location, class profile, student life, and other important factors. For example, programs in urban centers, such as Wharton, Chicago Booth, and Harvard, may feel much more competitive and intense. At the same time, smaller B-schools, especially those located in rural settings, usually foster a close-knit community feeling. Here, many students live on campus and interact with fellow students and faculty on a regular basis, thus developing a collaborative culture for the MBA programs.
HOW TO CHOOSE THE PERFECT MBA PROGRAM?There could be numerous factors to be considered; however, at the end of the day, the School decision is a personal choice that would ultimately affect your life the most. Therefore, while you can consider numerous factors, it's important to look at the big picture. Rank, package, community, and network all are worth considering, but the most important thing to consider is that no matter what B-school you decide on, make sure it's one that feels right to you. As it may feel logical, choosing the right fit for yourself is more of a personal, self-reflective process!
If you need opinions from experts and alums of different business schools on your profile, feel free to
hop on a call with us. We are here with a vision to help candidates get clarity around their life, vision, and goals.
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