So the Financial Times MBA ratings just came out and well I am sure like me everyone checked the ranking of the school we have gotten through or we want to go. I am happy INSEAD maintains its top 10 slot. I think its always important to create your own parameters and rankings apart from of-course referring to the world at large. Also scoring a 700+ in GMAT and having a versatile background will help you exercise your choice and open more doors. Below are 11 factors according to me which can help you create your own ranking .
1)Age – If you are older than maybe 29 than a 1 year school will give you the best value as your opportunity cost for a 2 years course would be higher and you would be graduating with a class which would have an average age of 25 -27
2)Professional stage – If you are someone who has about 8 -10 years of experience already at the top end of mid management say ( MD-2 level in a midsized company ) or say ( an AVP , DGM , GM ,VP , Account Director) a 2 year programme is not a good idea largely because the recruiters on campus are offering jobs to 26-27 years old with an experience of 3 -5 years. You will learn for sure but you might struggle to find a lateral position on campus.
3)Opportunity cost – if you are someone who is earning in the range of $60k-$100k picking up a 2 year course becomes very expensive. So you expense can actually go up to $ 250K -$300K(including the opportunity cost)
4)Marital status– Dynamics change if you have a wife, they change more if you have a working wife and she wants to continue working ( rule out US & UK) . One of the reasons I chose Insead over Kellogg 1 year was that my wife wanted to work as well and finding work in US is sort of impossible.
5)Kids – If you have school going kids brace yourself for a tough time , if your kids are very young you have to choose a place/country where you can bring them up well ( availability of domestic help , affordable medical expenses , moderate temperature )
6)Global economy – I am sure you are already aware of what’s happening around . Euro zone is going through a tough time and passing out in a country like Spain , Italy might be a bad idea . Germany and France might be better off a little but Asia definitely holds an advantage.
7)Visa norms and job market – A lot of my friends have completely ruled out UK because of their tough visa laws and current job market. Unless you are aiming at LBS.
8)What is your need – If you are doing it for just learning the field is open and schools across the world will provide you great learning. If you want just an international mba tag the field is again open for you but if you are looking at an ROI model and want to move to a better job/industry you need to be very cautious of the school you choose.
9)What field you want to work in – Finance/Marketing/Consulting/Entertainment/Sports/general management. every school has a specialization : Consulting –Insead/Havard , Finance – Columbia , LBS , Wharton , Stern , Chicago , Marketing –Kellogg .
10)Post MBA plan – If you want to stick to say INDIA go for an ISB /IIM these schools will be cheaper but would offer you good ROI . If you want to be a global citizen choose an international school recognized around the world. Also if you plan to join back /start your own business and all you want to learn is theory and understand the basics of management the field is open for you.
11)Financial health- We almost ignore it but ask yourself can you shell out INR 60-100 lakh / USD 140K. Will write more about this later.
Do create your own list
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