Day 3: Which MBA to choose?
MBA programs, like the people for whom it is designed, are diverse and many. Having worked with so many candidates now (whose work experiences ranged from 0 years to 23 + years), I can assure you that there is definitely a suitable MBA or an MBA equivalent out there for you.
Let's start by checking out the types of programs available based on the work experience range.
MBA: This full-time program (often flagship) is the most coveted (and hence highly selective). Meant for people who wish to move up the corporate ladder into leadership roles or for starting their own venure, the MBA is highly suited for those with 4-7 years of work experience. Check out the HBS MBA , yes THE Harvard MBA which is the holy grail for many. Sometimes, there is a minimum work experience requirement too.
Specialized MBA: Then there are accelerated programs designed to help you specialize in one field. Like the Johnson Cornell Tech MBA or the newly launched the Kellogg MBAi , programs designed for those wishing to succeed in the digital economy.
MBA for Executives: What the rest of the world calls MBA, in India, the equivalent will be the MBA for Executives likeaver the prestigious IIM-A PGPX . Do note the higher work experience range for this (typically average experience is around 7+ years).
Executive MBA (EMBA): These are part-time programs (mostly on weekends and evenings). So that you can continue learning while earning. Check out IIM-Bangalore's PGPEM program.
Global EMBA: These are part-time blended programs with a few residential modules and mostly distance learning. The immersive experiences are a big attraction. IESE GEMBA would belong in this category.
Senior Leadership Program: If you are older (think 10+ years of experience) and are specifically looking to developing leadership skills and having peers from the C-Suite, then the senior leadership program is for you. I highly recommend the MIT Sloan Fellows Program which is a full-time residential program. You also have part-time blended options like INSEAD ILPSE .
Online MBA: It's just the regular full-time MBA program delivered in an online fashion. These also have eligibility criteria similar to the full-time MBA programs. Check out the Carnegie Mellon University’s Tepper Hybrid MBA Program .
Other alternatives
Masters in Management(MIM): Want to do an MBA but don't have enough work experience? You want to gain entry to the management domain and looking to top up your undergraduate education? The MIM is actually meant for people with less than 2 years of experience. INSEAD MIM and LBS MIM are some of the most popular choices out there. I love the programme comparison tool from LBS .
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Specialized Business Master's: You might want to become a specialist by studying a focused program. For instance, consider the Vanderbilt Owen MS in Finance program. This is well suited for young graduates who wish to acquire a specific skill set.
Technical Master's programs: Maybe you want to accelerate your career now and grow in the technical roles in your own domain. A Technical Master's program like MS in Computer Science at Georgia Institute of Technlogy is an option to consider.
Masters in Engineering Management: Known as the engineer's MBA, this is best suited for those who want to have a foot in both the technical and the business worlds. The Duke MEM might be a good choice for you.
Phew! So many options.
Like everything else in life, the work experience was just the starting point and there's more. And always, profiles are evaluated on a case-by-case basis (thankfully!). So you may be the person with 22+ years of experience getting into the full-time MBA program meant for people with 4- 7 years. The Adcom just wants to know your reasons for the choice of that program and how the program could help you with your career.
How do you know which one is better for you?
If I give you the work experience, then you will ask me about the duration of the program (1 year, 2 years, flexible duration).
If I tell you about the duration, then you would probably wish to know about the mode of delivery of the program (part-time, full-time, online, hybrid/blended ).
If I share details on the mode of delivery, then you would want to check if the program curriculum will actually satisfy your goals (specialist, generalist).
If I actually guide you through the program fit, then you will ask me if you are eligible.
Well, you get the drift.
The decision around the program will involve many parameters and needs a deeper dive! More on all these in the days to come.