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CAREER ADVISOR
In this issue, “Your Career Advisor” is responding to the following question: “I understand you have replied to a question a few weeks ago on the merits of obtaining an MBA; I strongly believe I will benefit from one. My question is which school ? and should I target one in Europe or the United Sates?”. All reasonable questions related to careers, skill development or employment related issues – sent to
advisor@skill-link.com
- would be addressed in this section every week.
Q: Which Business School ?
I understand you have replied to a question a few weeks ago in “Your Career Advisor” on the merits of obtaining an MBA; I strongly believe I will benefit from one. I have saved through my work over the last five years and believe at this point an MBA is a good investment. My question is which school ? and should I target one in Europe or the United Sates ? Can you recommend any particular schools ?”
F. D. Beirut
Replying:
Dear Ms. F.
As you said we are not addressing how beneficial an MBA will be to you, the issue is: where
?.
The following are some selection criteria for an MBA program / school:
Name / reputation:
While we believe a very reputable MBA does not automatically mean you have personally benefited more than a second tier MBA, all other things being equal a business school with a recognized name will be more attractive on your CV by for potential employers. As an Arab, we assume you are planning to return to work in the Middle East upon graduation, so you may want to select one that is known in our part of the world. A list of the top 20 business schools in the world, as recognized by the Financial Times newspaper is provided at the end of this page for your reference.
One more thing to add, you did not specify which concentration you are aiming for in your MBA; some schools are better recognized than others in certain fields (eg. Wharton - Pennsylvania in finance, Reading - England in securities & investments, Kellog - Illinois for marketing, MIT - Massachussets for technology etc…)
Program duration
MBA program used to all be for two academic years, however this started changing in the 1980s, they now range from 12 month (intensive) to 2 years. This significantly affects your decision, how long you want to be away from home and from work. An example for the 12 month MBA is the INSEAD - France, London Business School and the IMD - Switzerland.
Cost
This is a key consideration, unless of course ‘money’ is not an issue for you. Do not take it for granted that a 12 month MBA is less expensive than a 2 year MBA. As a rule the shorter programs are more expensive; also top European business schools tend to be more expensive than some of the U.S. ones. It is relatively easier in the United State to obtain some financing from the university.
Location
This has to do with your personal choices and the classroom mind set.
You may want to be in a big cosmopolitan city (New York, London, Boston) or your preference would be a quiet university town (Wisconsin). Weather is also important: London is rainy, California benefits from a mild weather all year round while Canada is cooooold throughout winter and spring.
Location has a more ‘intellectual’ aspect; most of the US business schools tend to be focused on American issues and case studies. European business schools are more international and address more diversified issues; therefore all other things being equal, we personally believe there is more relevance to a manager planning to work in the Middle East in a European program.
We hope the above criteria could help in your decision, meanwhile the following list - as previously mentioned - portrays the top 20 Business Schools in the world as reported by the Financial Times:
1. University of Pennsylvania: Wharton US
2. Harvard Business School US
3. Stanford University GSB US
4. University of Chicago GSB US
5. Columbia University GSB US
6. MIT: Sloan
7. INSEAD France
8. London Business School UK
9. Northwestern University: Kellogg US
10. New York University: Stern US
11. IMD Switzerland
12. University of California at Los Angeles: Anderson US
13. Dartmouth College: Tuck US
14. University of California at Berkeley: Haas
15. Cornell University: Johnson US
16. University of Michigan Business School US
17. Carnegie Mellon University US
18. Duke University: Fuqua US
19. University of Western Ontario: Ivey Canada
20. Yale School of Management US
Note from the editor:
Employer names and inquiry sender names were withheld for confidentiality