Wednesday 28 October 2009

For all MBA Aspirants

Best MBA business schools?

All of us would like to do MBA from a good business school. So, how do one find which ones are good business school?

Rule 1 - Do not follow rankings blindly, they can deceive you in the wrong direction.

For me, any school that has AMBA, AACSB and EQUIS accreditation are quality schools. Visit below links to find about more about why these MBA accreditations matter and whether the school you are applying for has the following certification.

IELTS/TOEFL 

If you do NOT have your bachelor's degree from the UK, Canada, USA, Australia, New Zealand and you are planning to study in one of these countries; It does not matter how good you speak, read or write English you would have to bow down and take IELTS or TOEFL. 

I have taken both tests and found IELTS easier and less stressful then TOEFL ibt.

GMAT

GMAT is a must if you are planning to study in a Tier 1 B-school anywhere in the world.  If you are thinking to do it in North America, GMAT is Mandatory and if you are looking at Europe or Australia, GMAT is not required in most of the good schools. Also, some schools may have their own tests as a substitute for GMAT. 

GPA/Grades/Percentage

If your grades are not good and you are looking at top schools, the only rescue would be good GMAT score and strong work experience.

Work Experience

If you want to study in a top school, they are looking for students with a minimum of 3-year work experience. I would not any recommend any fresher to take up MBA; my reason being, once you start working, you will understand your primary goal - what your interests are and whether MBA can help you to achieve these aims.

If you are an impatient brat, have less work experience and looking for a good B-school, well then try to show part-time employment that you might have done while studying. It may help your application.


CV/Resume

One of the important part of your application. Please make sure you have clearly mentioned your job responsibilities in complete details and well supported with your achievements/awards and duration of your work at each organization, etc. 

SOP(Statement of Purpose) /Essays. 

Again, this is a very important part of your application. Your essay should include topics like your background, culture, who you are, what you do, why you want to do MBA, how MBA can benefit you, how B-School can get benefited from you and where you see your self in 5 years.

LOR(Letter of recommendations)

Your LOR’s need to be all praise for you and obviously make sure you take them only from people who can boost big time about you .

If you do not have good work experience, grades and have not taken Gmat. Focus highly on making a strong CV, SOP, LOR. Every application is judged on the whole and not entirely on grades or gmat.

Passport/Visa 

Your passport should have a validity of more than three months before the date of traveling. Visa can take up to a month’s time, so make sure you have received offer letter well in advance with all the VISA formalities from the school. Your IELTS/TOEFL score also supports your VISA application. 

COUNTRY

Confused between Europe, America and Australia? 

My first choice for MBA was one of the top schools from Canada but as I stand today, I understand if I study in North America:

  • I am going to spend nothing less than $60000 for only fee's, Irrespective it being a Tier 1 school or any good top school.
  • Scholarship is not guaranteed, so chances are 1% out of 100. As I compete with entire class and business school, I do not have high hopes on scholarships.
  • MBA is a 2 years programme in North America, which means my living expense can go as high as $30000$ for two years.
  • Part time jobs -  For a fact MBA is an intense programme, and you will be stressed and doing all-nighters to submit your assignments in time. 
  • ROI - I am spending nothing less than $100000 for the full course. By when and what will be my ROI, well you are the best person to judge it for your self.
Further "West is coming to East", I hope you know east is Asia.

On the flip side, if I study in the UK and not think like a true American dreamer. I do not have to worry about my Visa. I can receive it in 10 working days which is not the case with North America or rest of the Europe.

Fee's - UK and Europe as a whole have few good top schools, where total fee is between 15,000 - 25,000 pounds.

MBA course is also for only one year in UK and Europe which also is a big plus for working executives.

Living expense depends on the city and for a city like London you would to shell out up to 800 pounds per month, but then only one year MBA, so expenses only for a year!

When I consider total amount I have spent on my course fee + living expenses + travel + extra’s, I am spending nothing more than INR 25 Lakhs + I won't be doing part time jobs. If I compare it same with North America, I am spending nothing less than 50 lakhs, as dollar is INR 50 at the moment. :)

Now that I have narrowed down my country to UK and Europe, I would choose UK from Europe because in case I come back to India, I feel studied and worked in UK would sound better than rest of Europe.

Additionally, UK is an English speaking country. There will be no language problem’s compared to Spanish in Spain or French in France.

The UK also gives me two years full time work permit after MBA.  Rest of Europe comes in EU(European union), if you want to work post your MBA, your employee has to prove that you can work better than someone  from their country, making it hard for work permits.

I thought of Australia too, with current scenario, I don’t need to say anything i guess....”)

Hope this helps!



26 comments:

  1. The salary data in each year's FT Global MBA Ranking plays a big part in applicants’ choice of school, but the use of the average weighted salary and the percentage increase has caused some surprising distortions.......

    http://businessbecause.com/commentary/fts-salary-measures-cause-confusion

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  2. hi,
    great post.
    i have a 3 yr diploma in hotel mgt from IHM Calcutta (PUSA Branch). is this considered equivalent to a degree programme.? as it was a full time programme for 3 yrs. i have 68% marks. just that they termed it as a diploma. do u see any concerns here for me to apply to an MBA program.?
    thanks.
    va

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  3. Hi Va,

    thnx..

    any full time 3 years course will definitely be considered,Although when u apply, they will be interested to know about IHM's afflication -> to which University,i dont knw much about IHM, but top schools look at tier-1 indian Uni's, so basically some uni's would give you admission only if your Uni is recognized by govt.

    your percentage is all good, no no concerns what so eva, with good work exp,, you can just do it..

    hope this helps

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  4. Thanks Sahib. IHM is a govt college and one of the oldest institutes in India for hotel mgt. I think ur response greatly helps and gives me confidence. thanks..will keep in touch.

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  5. Thanks Sahib.The information provided by you is too good.

    I have done my btech in cse and having 3 years relevent IT working experience. I would like to know which specialization(Marketing/finaance/HR/....) should i take.How should i choose.

    Could you please help me on this part.

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  6. I have been visiting various blogs for my MBA assignment research. I have found your blog to be quite useful. Keep updating your blog with valuable information... Regards

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  7. hi i completed my b.tech this year. planing to do mba .i hv no work experience.could u suggest me some countries where i cn get admission in good college? moreover getting a job after completing mba.i atleast wanna get a job after completing MBA...

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  8. Countries - USA, CANADA, UK , Australia, you can find some good schools in all the above countries.

    Job would depend on your profile.

    All the Best

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  9. can yu help me out with some good business schools in the US and in Cannada and I do not posses any work experience

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  10. Hi....the post was really helpful....I wud Luke to know Gud university in UK to do my MBA..nd ya I dnt have ne work experience.....reply....

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  11. Hi Fatima.. thank you for your feedback..

    good universities in UK without work exp are very few , i know one or two...Uni of Aberdeen, Cardiff , there are very few top schools which take freshers globally..

    all the best...

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  12. Hello sahibzada,

    ur blog is really interesting. I have done B.Tech in Mechanical from vit, areputed and highly ranked university in india and i was a branch topper.I had marks above 90% througout my academics. I have a work exp of only 7 months but now as said by you impatient brat i want to do MBA. Seeing the market and opportunities I feel australia would be a better option as UK does not have good univ which take freshers.
    UTS - business school seems to be a good option as it is aacsab accredited and also course is of 2 years after which i can apply for 2 years work permit and later for PR
    RMIT is also another option but as course is only of 1.5 years so I wont be eligible for work permit.

    i want to stay in ausralia itself after the course. as far as my research says that finance is in much demand in australia.

    Would like to know ur views on my choices and also ur suggestion on any other university

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  13. Hi Abhinav..

    thank you for your kind words...

    Australia is good choice in current scenario , things have changed so much since i wrote this blog :).. best uni's of Australia are called " Group Eight universities" here is the link to it http://www.go8.edu.au/

    Yes UTS can be a good option too.. and the link above would sure be best option uni's there....

    since u r work exp is too low.. australia is good option.. i think best option.. As Canada and USA requires work exp.. UK and Europe wont give you work permit.. one more option can be Newzealand..

    Hope this helps.. All the best.

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  14. hai bro dz madhu doing my btech in ece stream at present i am 4th year i am intrested in doing mba and my academics are 63% and if i get good score in gmat can i get seat in top universities so can u sugest me which country to prefer with out work experience to get seat i top colleges

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  15. Hi ur jist of admisson to colleges is so good!!n ur writing is fantastic(Neat n Clear)!!Am planning for an MBA Abroad-think i would need assistance in coming years!

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  16. Dear Sahib

    Greetings of the day.

    You have done a great job with the blog.

    I have a query-
    I have done my hotel management with 58% and post graduate diploma in banking with CGPA 7.25 and have over 4 years banking managerial experience in top three banks of India.

    I intend to pursue MBA from Australia or UK. Request you to suggest which country will be a better option and further which universities will be a good option to pursue in the respective country. I am little skeptical about UK because of tightening of post study work visa rules but having said that keeping my options open.

    I am unable to pursue gmat as my schedule is too demanding to spare any time for gmat preparation.

    I hope you will be help me out in this regard.

    Regards
    Faisal Ahmed

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  17. Hello Sahib,

    I saw one of your comments about Hult. I am a lawyer and I want to do a Master in Business for a career change. I have a couple of years of experience but only in law.
    I thought about a Master in Management.
    My options now are Durham University, EADA in Spain, or HULT.
    In this last one is my biggest concern, as I was offered an amazing scholarship to go to Shanghai.
    Basically I want to know if this school is legitimated or is a scam. I've seen the London campus and it looks fine.
    I would really love to have the experience to study in Shanghai and to do the rotation programme, but I want a degree that allows me to find a good job afterwards. And mostly, I want to learn.
    I am not looking for a top business school as I have no knowledge at all of business, I just want a good school and to be able to really learn something usefull, and of course to finde a job.
    All this looks to good to be true, that scares me a little bit, i just want to be sure that if I pay de fees, i will have the course and everything as it is said.
    Thanki you for your time.

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  18. Hi Faisal, thank you for your kind words.

    As of today Australia will be a better option, Generally speaking in Australia “Group 8” Universities are top Universities! You will find easily MBA programs without GMAT in Australia.

    I would recommend a 2 year MBA program in Australia, As 1 year program in Australia = No work Permit, but 2 year program = 2 Year work permit in Australia.

    Hope this is any help!

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  19. Hi Santiago,

    Since you are a lawyer by profession, i would recommend JD/MBA , this MBA is available in USA/Canada.

    http://en.wikipedia.org/wiki/J.D./M.B.A.

    If you have only 2 years work exp, and you got admission in MBA program Durham Uni, you are lucky! EADA is 2nd best and Hult the last option. Since Hult is tempting you i might take it if scholarship is really amazing! I mean my total course fee for MBA is nothing more than 15,000 Pounds! To know the Hult MBA experience i would recommend you request school to provide you Alumni contact details, as they can give you all the insights.

    All the best Mate

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  20. hi sahibzada,
    your blog is very helpful...im in 4th year,my aggregate is 70% i want knw abt d canada b schools which are accepting without work experience?

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  21. Hi Sahib,
    This is Mayaa.I have graduated from BITS Pilani Univeristy with a fair CGPA and I have been working from 6 months now.I plan to give GMAT in June2013 and and wish to apply for good universities in the same year.Can you please guide as to which tier1 universities might be interested in my profile given that i'll be having just an year's experience when I apply

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  22. hi shahib,

    here is the thing, I have a personal business already in hand which I can run, but for a change I would like to go live alone out of my current country ( dubai). I do not aim for the best of universities but yet not something that would be of total waste. I am in my final year of university at the moment. I have not done GMAT or have work experience, what could your recommend to me?

    best wishes ,
    omid

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  23. Hi Omid,

    Considering you have a "personal business already in hand" - i would recommend you courses in Entrepreneurship for your chosen destination!

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  24. Thank you for your feedback Anthony. Indeed getting admitted to "Tier 1 Business School" has always been tough, but one can easily crack tier 2 business schools.

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  25. Hi,

    I have a BSc in Telecommunications Engineering from Egypt with 2+ years of work experience.

    I am looking forward to join an MBA program in Canada but I need a strong program.

    England could be an option as well, but since they're expensive, I need a scholarship.

    Any suggestions?

    Saleem

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  26. Hi Saleem,

    There are good programs/ B schools in Canada as well as in England. MBA program fee is comparatively lower in UK than in Canada.

    Every school provides scholarships, what matters is, if one fit's the criteria and requirements to avail the scholarship.

    This is my very generic opinion. When you choose your program make sure the B school you choose has the modules that interests you.

    All the best

    Masood

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