MBA Candidate? Top three things you should consider

If you are considering attending business school there will be many things you will need to consider. We are going to highlight the importance of considering the cost, location and accreditation of potential business schools to help you in your selection.

Cost: According to Forbes, MBAs are among the most expensive masters degrees you can get, ranging from $30,000 to $120,000. When ponying up this type of cash it’s important to consider why you are getting an MBA? Additionally, there is an indirect cost if you were to quit your job to attend a full-time MBA program vs. part-time program. You should consider exploring if your current job will cover any expenses via an expense reimbursement policy at the company. The HR department or your manager will likely have details regarding your company’s options.

Location: There are a variety of options when considering location. You may want to attend a local college near you, or you may want to leave town and attend a program full-time. Whatever the best solution for you is, remember to consider the cost of moving elsewhere. Also, consider companies that are located around the schools you are looking at. It is likely that if you want to work for Apple (located on the west-cost) but are attending a school on the east coast, it may be hard to land at Apple. It is becoming more acceptable to attend online programs while working. This may afford you the ability to save money while continuing to work.

Accreditation: Considering accreditation will be one of the most important things you should look into; not all accreditations are equal. Accreditation is a voluntary process that universities partake in in order to demonstrate they meet quality standards. According to MBA Central, the types of business accreditations are: AACSB Accredited, ACBSP Accredited, IACBE Accredited. The AACSB is considered the highest level of business accreditation around the world.