What to consider when choosing your MBA

Abiola Ayanleye, participant of the Full-time MBA, shares her top tips for your journey to choosing the right MBA for you.

Choosing the right MBA programme is a significant decision that could have a tangible impact on your career. There are several factors to consider before deciding.

Define your career goals

Defining your career goals is the first and most important thing for me. Knowing this will help you select an MBA programme that aligns with your objectives. Next, decide on the type of MBA programme that suits your lifestyle and work commitments. I had been running my business back in Nigeria, and I knew that even though I was ready to pursue my MBA degree, I still wanted to keep my business running. A key deciding factor for me was the duration of the programme. The Full-time MBA is only for a year, meaning I could take as little time off from my business as possible.

Location

Another thing you need to consider is what location works for you. Do you prefer a specific region or city? Are you comfortable with the weather? Do you have family and friends that you need to be close to? Can you maintain your current work role? The UK was the perfect choice for me. Choosing a place only 6 hours away with an hour’s time difference from where my business runs sounded perfect.

Institution

When you have picked your location, the next thing to consider would be the institution. You can research the reputation and ranking of the business school and MBA programme. While rankings aren't everything, they can provide insight into the programme's quality and standing in the business world. More importantly, you must ensure that a recognised accreditation body, such as AACSB, AMBA, or EQUIS, accredits the MBA programme. Accreditation indicates that the programme meets specific quality standards.

If you are going to a highly rated business school, you should check if you meet the admission requirements, which include standardised tests (such as the GMAT or GRE), work experience, and prerequisites. Other things to consider concerning the institution would be diversity and inclusion, the alumni network, the experience of faculty members, class size, culture, and values.

Financing

Finally, you should evaluate the tuition, fees, and living expenses associated with the programme. Calculate the potential return on investment (ROI) for your MBA by comparing the programme's cost to the expected increase in earning potential after graduation. You can also explore scholarships to help finance your MBA.

Ultimately, the MBA programme should align with your unique goals and circumstances. Careful research and thoughtful consideration of these factors will help you decide and select the MBA programme that best fits you.