Which MBA School Is Right for Me?
Updated July 9, 2024
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MBA programs help learners build hard and soft skills like financial management, researching competitors, and communication — all of which are necessary to succeed in business environments.
Pursuing an MBA is a big decision. If you're wondering "Which MBA school is right for me?", research schools thoroughly to find programs that align with your needs. Use our guide to discover different MBA formats, learn how to choose an MBA program, and explore crucial program features to consider.
Popular Online MBA Programs
Learn about start dates, transferring credits, availability of financial aid, and more by contacting the universities below.
What to Consider When Choosing an MBA Program
Business schools across the country offer MBA programs, each with their own curriculum, application process, learning modality, costs, alumni network, and internship opportunities. Each of these considerations is crucial for you to contemplate as you explore programs. We break down several business degree factors below.
Deciding if You're Ready to Pursue an MBA
Many students worry about finding the best MBA program, but the first question to consider is whether you're ready to pursue the degree. The questions below can help you decide whether an MBA program is right for you.
Does an MBA align with my goals?
Before devoting time and investing money in an MBA, determine why you want the degree. Common motivations include earning more money, obtaining advanced credentials, building new skills, and preparing for future jobs. If you do not aspire to MBA careers, including managerial roles, rethink whether an MBA suits your needs. Advanced positions often come with hours that exceed the standard 40-hour workweek -- especially at the start of their careers. Individuals who value a work/life balance may want to consider less-demanding roles.
What experience do I have?
Many business schools do not allow degree-seekers to apply directly to their programs straight after they finish their bachelor's degree. MBA programs want enrollees who can bring their knowledge of the business landscape into the classroom -- knowledge that you can only obtain from real-world employment. Some programs require at least three years of prior work experience, and executive-level MBAs often require candidates to have five or more years on the job.
Can I handle graduate-level work?
Typically, graduate courses are more difficult than undergraduate courses. Though some master's programs focus on theories and research, MBAs usually emphasize practical applications of skills in real-life settings. Those who succeed in MBA programs are motivated, focused, and determined students with enough time, energy, and resources to commit to their classes.
How long will it take me to see the payoff of my degree?
MBA graduate outcomes vary between schools, but some top MBA programs report that about 90% of their alumni received full-time, relevant job offers within three months of graduating. Having an MBA can also lead to earning higher-than-average wages: For example, Johns Hopkins' 2023 MBA graduates had an average base salary of $118,760, while 2022 graduates of the Massachusetts Institute of Technology's MBA program earned an average base salary of $159,390.
Find the Best MBA for You
Accreditation Status
Accreditation is a voluntary recognition process for colleges and universities that meet an accrediting body's criteria for academic excellence. When researching MBA programs, look for schools with institutional accreditation.
Additionally, some business schools hold programmatic MBA accreditation. This optional process evaluates how well a degree prepares learners for careers in the field. The following agencies extend programmatic accreditation to eligible MBA programs and business departments:
- AACSB International
- Accreditation Council for Business Schools and Programs
- International Accreditation Council for Business Education
Admissions Process
The admissions process for MBA programs varies between schools. The following are common features of MBA admissions:
-
GPA and Official Transcripts
MBA programs typically require an undergraduate GPA of at least 3.0. Applicants must submit official transcripts of college-level coursework to prove their GPA. -
GMAT or GRE Scores
Some schools require GMAT or GRE score submissions. Typically, programs don't maintain a minimum score requirement — instead, they consider this data holistically alongside other materials. -
Work Experience
Some schools ask applicants to submit resumes detailing 2-5 years of work experience. -
Letters of Recommendation
Prospective students often submit letters of recommendation from people who can attest to their leadership abilities and work ethic. -
Personal Statement
A personal statement details an applicant's goals and reasons for pursuing an MBA. Some schools may instead request an essay responding to a prompt.
Many MBA programs start in the fall, but some schools — including online programs — provide multiple start dates throughout the academic year.
Alumni Network
The strength of a business school's alumni network can impact a school's reputation and reflect the overall success of its graduates. Questions to consider when assessing a school's alumni network include:
- How large is the network? Attending a school with a large, active alumni network can make it easier to connect with prospective employers and other professionals.
- How engaged are previous students? Do alumni regularly attend events at the school? Are they routinely featured in departmental newsletters and bulletins? Limited engagement within an alumni network may signal larger problems in the MBA program. For example, inactive networks may indicate that a program didn't serve learners' needs or that the business school doesn't adequately provide opportunities for alumni to connect with new students.
- What are the alumni doing now? Quality MBA programs often have alumni located around the world who work in a wide array of industries. Successful alumni can indicate a school's ability to prepare its graduates for advanced business careers.
Core Curriculum
Most MBA programs require students to complete 30-60 credits. Often, around one-third of these credits cover core business topics. These classes typically cover subjects like managerial statistics, financial accounting, business analytics, operations management, and the global economic environment.
Program Cost
Multiple factors influence MBA tuition rates, including school prestige, program format, public or private institution status, and student state residency. MBA programs often cost $500-$1,800 per credit. Students may also incur additional charges for textbooks, distance learning fees, and student support service fees.
Financial aid can help MBA students pay for their degrees. Students can fill out the FAFSA to determine their eligibility for federal student aid like grants, which do not require repayment, or loans, which students repay over time.
Business schools may also offer MBA scholarships and grants. Some MBA programs also offer fellowships, which provide a stipend and pay partial or full tuition in exchange for research or teaching work.
Program Length
A traditional MBA requires full-time enrollment, which can be challenging for students who work full time. Many schools offer varied MBA formats like accelerated online MBAs and mini MBAs to accommodate diverse scheduling needs. The table below compares these options.
| MBA Type | Features | Program Length | Allowed Completion Time |
|---|---|---|---|
| Full-Time MBA |
|
Two years | Up to three years for a two-year program |
| Part-Time MBA |
|
2-4 years | 5-6 years |
| Accelerated MBA |
|
12-18 months | Up to two years |
| Evening/Weekend MBA |
|
2-4 years | 6-8 years |
| Mini MBA |
|
3 weeks-8 months | Usually the same as the program length |
Program Reputation
An MBA program's reputation and prestige can influence your career outcomes after graduation. Future employers may be more likely to hire graduates from a school they recognize, so you may feel more confident in the value of your education if you attend a prestigious program.
Websites with methodology-based MBA program rankings can help you find reputable business schools. You can also use the U.S. Department of Education's College Scorecard to research graduation and retention rates, campus diversity, and typical student outcomes for schools with MBA programs.
School Location
As you explore prospective MBA programs, consider whether you want to live and work in the same areas as the schools on your list. Some schools' alumni networks and career resources are more location-based, meaning that if you move elsewhere after graduation, you may lose access to these opportunities.
Because online MBAs attract students from all over the country — and even from across the globe — they may have different approaches to career resources and networking. Research each online program's alumni offerings to understand how you can benefit from the school even after graduation.
University Culture
The environment of a school or program and how the students interact with peers and instructors are important factors when determining which MBA program is right for you. For example, some business schools are known for their competitive culture — can you thrive in such an environment?
It can be helpful to talk to current students about what a typical day looks like. Consider asking the following questions to get a feel for a program's culture:
- Does this program push students to succeed in healthy, productive ways?
- Is collaborative learning encouraged through a cohort model or is the program taught asynchronously?
- Is there a diverse mix of voices, experiences, and viewpoints in the program?
- Does the student-to-teacher ratio of most classes encourage connection and growth for each student?
University Resources
An MBA program should prepare students academically and professionally. School- and program-based resources can help MBA students get the career, community, and holistic support they need to thrive during their program and after graduation. As you choose a school, examine resources like:
- Career Support: Career support services — including career coaching, job search databases, and job matching — can help MBA students prepare for their future careers while still enrolled. For example, the Wharton School at the University of Pennsylvania has a career management team offering workshops, recruitment tools, career advising, fellowships, and employer connections to its students.
- Community Involvement: Some MBA programs help future business leaders integrate within their local business landscape through community-based programs. For instance, enrollees in Baylor University's MBA can participate in a prison outreach program.
- Whole-Student Support: Counseling services, health insurance options, family involvement, and religious support services are examples of resources that support student well-being beyond the classroom.
Which Online MBA School Is Right for Me?
As you find the right online MBA school for your needs, pay attention to coursework-based considerations, including:
Course Delivery
Delivery formats for online courses can differ between schools. Synchronous courses require learners to meet at specific times for live online instruction. Asynchronous courses don't have set meeting times, so students can review learning materials and complete coursework when convenient. Keep in mind that asynchronous courses still typically have assignment deadlines — often weekly or monthly.
Learners who enjoy structure and more frequent interaction with peers and instructors may prefer a synchronous program. In contrast, an asynchronous program can be more suitable for self-sufficient students who need more flexible schedules.
Faculty Access
How large are class sizes? Schools with smaller classes and lower student-to-faculty ratios can offer more opportunities for individualized instruction. Do the online MBA programs on your list provide easy access to faculty when students need help? Prioritize programs that foster open communication between instructors, advisors, and students, including convenient office hours.
Technical Support and Services
Being able to access courses and learning resources reliably and at convenient times is crucial for online MBA students. Does a school offer comprehensive technical support for distance education enrollees, like a live help desk with evening and weekend support? Does it offer learners free software or free/reduced-price laptops?
Online Tuition
Some programs charge lower tuition for online MBA students, including schools that charge all learners in-state tuition regardless of state residency. These lower prices can help make an MBA more affordable.
Where MBA Concentrations Fit Into Your Decision
MBA programs may offer concentrations or specializations within their coursework. Concentrations make it possible for MBA graduates to deepen their expertise in specific subjects and qualify for niche careers.
For example, construction management, healthcare management, and real estate concentrations develop skills related to their fields, like construction scheduling, healthcare growth strategies, and real estate valuation, respectively. Consequently, graduates can qualify for management jobs in these industries.
Popular MBA concentrations like the following three meet the needs of our evolving business landscape:
- Supply Chain Management: This concentration teaches learners to negotiate contracts, research vendors, and oversee supply chain operations. Graduates can pursue careers like logistics engineer or supply chain analyst.
- Information Technology: This specialization develops enrollees' skills in IT-focused project management and systems analysis and design. Graduates can qualify for jobs like business analyst or IT manager.
- Sustainability: This concentration teaches students to improve sustainability across supply chains and business operations, exploring ethics, strategic innovation, and corporate responsibility.
Other MBA concentrations include:
Finance
Global Business
Industry-Focused
Strategy and Operations
When deciding "What MBA should I get?", students should consider each school's concentration options. Some schools offer just two or three specialization options, while others have many. Even learners pursuing a general MBA may consider a program with several concentrations so they can alter their degree's focus as they discover their interests through coursework.
FAQ About Choosing the Right School for Getting an MBA
What MBA should I get?
In addition to a school's reputation, find an MBA program that suits your learning style, scheduling needs, and professional goals. Also, look for MBA degrees that offer classes or concentrations relevant to your career aspirations.
How do I choose an MBA program with a good ROI?
Many MBA programs publish student outcome data on their websites to help you compare salaries, job offer acceptance rates, and student debt. Compare programs' tuition costs to graduates' average salaries to determine your expected return on investment.
Does it matter which school I go to for my MBA?
Yes, the school you attend for your MBA matters. While many institutions are reputable, not all of them will offer MBA programs that suit you best. To answer "Which MBA school is right for me?", consider its accreditation status, program curriculum, location, costs, format, admissions process, and alumni network.
What is the best way to evaluate an MBA program?
Compare multiple MBA programs to find your best fit. Specifically, research a program or school's accreditation status, faculty credentials, credibility, available concentrations, and student support services. Also, examine school-published data about student outcomes like program graduation rates, job offer and acceptance rates, and graduates' starting salaries.
Page last reviewed on June 24, 2024
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