Part 2 (2/2)
To give yourself a preview of what to expect, ask to take a tour of the campus one evening after work or on a weekend. Peer into the cla.s.srooms and library facilities (are they new or antiquated?) and see if you can imagine spending the next few years of your life there. If courses are offered at more than one site, check to ensure that the facilities and services are equivalent at each location. If you will be required to travel to various locales in order to take advantage of all the facilities, you should be aware of this up front, and be forewarned: This information probably will not be volunteered.
Now that you know what kinds of options are available and what you are looking for, how do you choose the specific programs to which you want to apply? The next chapter will deal with the process of narrowing down the field.
CHAPTER 6.
Finding the Program for You For each school to which you've chosen to apply, you may have to select from several different M.B.A. programs-different specializations and/or joint degrees. As a result, you may be faced with hundreds of options. When you sit back and imagine your ideal M.B.A. program, what issues come into play? You need to decide what is important to you. Do you need a program with a flexible schedule? How big a workload do you think you can handle? In what sort of learning environment do you thrive best? You will need to take a number of factors into account when a.s.sessing which M.B.A. programs fit your wants and needs, ranging from curriculum to cost.
CURRICULUM.
Although all M.B.A. programs differ, there exists a general core curriculum that all students must follow. To complement the core courses, students usually have the option of selecting a ”concentration,” similar to a major in undergraduate studies. The selection of concentrations in the M.B.A. program focuses on major business disciplines, such as finance, management, marketing, accounting and taxation, organizational behavior, communications, and now, e-business. This selection is gradually broadening as the business field's demand for a more well-rounded student increases.
No Travel RequiredDepending on where you live, you may not have a very expansive selection of schools left. If this is the case, you should also consider Distance Learning or Online programs.
For the student who has been out of undergraduate school for many years, some programs require a foundation, leveling, or prerequisite coursework to be completed in order to obtain the M.B.A. degree. A sampling of some of these courses includes: * Mathematics or calculus for business* Statistics* Marketing* Accounting* Business law* Economics These types of courses cover the common body of business knowledge that normally would be included in an undergraduate business curriculum. Depending on the student's background, many of the courses listed above can be waived. Although each school has their own policy, credit for leveling-type courses taken at the undergraduate level are generally applied towards the M.B.A. degree only if the student received a ”B” or better and if the course was taken within the last five years. Check with the admissions office of the prospective B-school and inquire as to their policy regarding waivers. Some schools may require you to pa.s.s a placement exam to judge whether or not you have the competency to waive a certain course.
Is the School Web-Savvy?”E-Commerce” combines telecommunications, information technology, and computer technology to support and record business transactions without human intervention. It is vital for tomorrow's managers to understand how the Internet is changing the way business is conducted, and be comfortable with emergent technologies. Rutgers Graduate School of Management, for one, provides a comprehensive look at this rapidly growing field. Some topics covered in the curriculum include web publis.h.i.+ng, network security, legal issues, understanding buyer behavior on the web, and growing new business ventures.
One piece of advice: Don't make this your first question. There's nothing worse than starting off a program by asking which courses you can waive. It may come across as though you are not serious about putting your all into getting your M.B.A., which is a very serious and time-consuming endeavor indeed. However, this is obviously an important question to ask when determining which program is right for you, so voice this concern to the admissions department without stressing the urgency of the request. Try to think about your discussions with the university personnel in the same light as talking with a future employer. Imagine that the first question you pose at an interview is how much vacation time you would be ent.i.tled to. Doesn't sound quite right, does it? Show respect to the admissions office-there are thousands thousands of applicants who request admission to M.B.A. programs but only a few spots available. Even though you are the customer, there is a shortage of supply, so be advised. of applicants who request admission to M.B.A. programs but only a few spots available. Even though you are the customer, there is a shortage of supply, so be advised.
Cohort Programs Some M.B.A. programs-mainly full-time and executive programs-are cohorted, which means that all students are required to follow the same curriculum at the same pace. In this program, students usually do not have the option of skipping a cla.s.s unless they agree to take off a full year and resume studies with the inc.u.mbent cla.s.s. While the scheduling procedures can be very frustrating, the cohort programs are wonderful in that the student has a terrific opportunity to bond with other cla.s.smates and learn a great deal from them as well as from the faculty.
Other M.B.A. programs will permit the student to take cla.s.ses in the order that most suits the student's schedule. Although there is some flexibility in the scheduling of your cla.s.ses, registration for a particular course may require a prerequisite. For example, Corporate Finance may be your area of interest, but most inst.i.tutions will require that you take Financial Accounting first.
Important Questions to Ask Yourself”Is the program AACSB accredited? Are the faculty and administration fully linked with top companies in business? Is the organization made up of students, faculty, and administration who are active and open to change, or is the situation bureaucratic? What are the faculty credentials, and is there a sense of pride and excitement about what they are doing?”- Pamela Curry, a.s.sistant Director of Graduate Programs, Dolan School of Business, Fairfield University As mentioned above, for the student looking to attend part-time, cohort programs have historically been available only for the Executive M.B.A. candidate. However, to allow more part-time students to take advantage of this type of curriculum, new cohorted weekend M.B.A. programs are surfacing nationwide. Although very taxing on your time, these programs allow part-timers to get the flavor of a full-time degree.
Sample Curriculum (Some schools may require proficiency in Calculus, Statistics, and Economics prior to matriculation.) [image]
Back to Basics Many business schools have expanded the requirements of their core curriculum to include courses that will better equip the student in today's management environment by focusing on the quality of their ”soft skills” (refer to the end of this chapter for a complete definition of this term). For some of the more experienced professionals going back to school to obtain their M.B.A., this may be a source of great frustration. Effective communications, managing conflict, managing human resources, and computer proficiency are skills used daily by top-level management. Management seminars and conferences dealing with these subjects are commonplace for today's managers, yet they usually do not count, credit-wise.
Keep in mind that although you may think you know it all, you will be surprised at what you can learn. Soft skills always need fine-tuning, and you will soon come to realize that these courses are not waste of time or money.
Once again, there are practically as many M.B.A. programs as there are students. The sample curriculum on the previous page is for reference only and can provide you with an understanding of the types of courses you will be expected to complete (and in what order) prior to graduating with an M.B.A. Depending on your undergraduate results and your experience, you may be ent.i.tled to waive certain cla.s.ses. (Each school has its own policy for waivers.) You Do the Math Do the Math ”When I was in grad school, I was exempt from Statistics (I had received a 'B' or better in college and had taken it within five years). Math, on the other hand, I had not taken since high school! I was always a whiz at Algebra, and did not feel the need to take it again. I was informed that I was required take Algebra. What I don't understand is how I was waived from Statistics, whose prerequisite is math, and still required to take math!” ”When I was in grad school, I was exempt from Statistics (I had received a 'B' or better in college and had taken it within five years). Math, on the other hand, I had not taken since high school! I was always a whiz at Algebra, and did not feel the need to take it again. I was informed that I was required take Algebra. What I don't understand is how I was waived from Statistics, whose prerequisite is math, and still required to take math!”- M.B.A., Fordham University YOUR AREA OF INTEREST.
Many schools will offer programs with a specialization that matches your area of interest. You should ask whether the program is very structured (i.e., all the cla.s.ses are preselected for the student) or if it permits you to select from an array of electives. How diverse are the electives? Are new courses being added?
YOUR SCHEDULE.
The demanding nature of your current work and home schedules should not be minimized. If your job requires you to do a lot of traveling, you should consider an Online program, a Flexible M.B.A. program, which permits the student to take some cla.s.ses online, or a Weekend M.B.A. program, now being developed at schools all over the nation.
”I travel too much for work now, but that will change soon.”If you want to attend a traditional part-time program but for now are required to travel too much, you can either postpone enrollment or consider programs that permit you to take core courses on the Internet. That will buy you a little time!
ENTRY BARRIERS.
Do you have the right profile to gain admission? Most M.B.A. programs will require you to have an undergraduate degree from an accredited school; there will also be GMAT standards and perhaps a requirement for the number of years of professional experience. Do you make the cut?
TEACHING METHODOLOGIES.
Most M.B.A. programs will use a mix of the four major varieties of teaching methods: case studies, lectures, group a.s.signments, and individual a.s.signments.
Case Studies In the case method environment, the professor doesn't lecture but rather facilitates the open dialogue with the students by asking probing questions, expecting the students to fill most of the cla.s.s time with their observations, insights, and a.n.a.lysis. Each cla.s.s revolves around actual business situations, and students are cast in the role of decision makers. For example, the cla.s.s is given the facts about a struggling business, and must develop a plan to improve its performance.
There are a few schools where the case method is the primary teaching tool, but you'll find cases in general management courses at even the most a.n.a.lytical programs. The objective of the case method is to stimulate a real-world environment. Students must a.n.a.lyze each case and develop a plan of action-i.e., what they're going to do and how they plan to do it-with limited information and time at their disposal. Occasionally, individuals whose experience is the basis for a case may sit in on the cla.s.s to share their insights. In some instances, you may have the opportunity to do advanced planning for case studies. The details are a.s.signed as homework to be carefully considered and prepared by the next cla.s.s.
Lectures by Faculty and Staff A lecture-based cla.s.sroom is, in all likelihood, what you experienced as an undergraduate. The professor provides information, and interaction between students and the professor, or between students, is controlled and generally limited. Students need to sit and take notes, and not necessarily partic.i.p.ate in any of the discussions, although partic.i.p.ation is often expected, and sometimes graded. Many schools invite guest lecturers to speak. Look for a listing of recent lecturers-the high quality of guest speakers reflects positively on the school.
Work That Counts Twice”As a part-time student, I was able to apply what I learned immediately, and, as a bonus, get credit on both the school and office fronts. On many occasions my professors allowed me to use a work-related project as basis for a homework a.s.signment. The double duty paid off-with an M.B.A. degree and a promotion!”- M.B.A. graduate Group Projects and Presentations Project-oriented cla.s.ses have resulted from student demand that cla.s.ses be closely related to real-world business situations. They are akin to the case method approach in the role in which they cast the student. In project courses, a student-or, more often, a team of students-works as a consultant with the client company on a project or problem facing that company. While in a case discussion the facts of the case are a.s.sembled beforehand, the team working on a project often has to start from scratch, determining what information is needed, reviewing company doc.u.ments, and interviewing company employees. Regular cla.s.s meetings with the professor provide an opportunity to learn more about the subject and to discuss the particular problems and applications arising from the projects themselves. The course may end with each team presenting the project recommendations and actions to the cla.s.s and to the actual clients of the company. Project courses tend to be extremely time-consuming, because of the need to consult with the clients and with the other members of the team, but are effective at bridging the gap between cla.s.sroom and the workplace. Some groups may be chosen by the students themselves, others by the professors-presumably to promote a cross-disciplinary team approach.
The Right Atmosphere?
”Everyone wanted to do well. The atmosphere was compet.i.tive, but not cutthroat. That may be because the team structure sort of forces students to help each other.”- M.B.A., Stern School of Business, New York University Individual a.s.signments and Presentations This teaching method most closely resembles undergraduate a.s.signments. Most core curriculum is a mixture of lecture and individual a.s.signments or presentations (such as statistics, math, economics, etc.).
Everyone learns differently, so select a program with the teaching environment that will allow you to thrive. Another issue to keep in mind is how well your learning style fits with the course expectations of the programs you are considering. For example, in case method cla.s.srooms, as much as half of your grade will be based on cla.s.s partic.i.p.ation. If you think you may be less than eager to partic.i.p.ate in this kind of forum, or you believe that your business travel schedule may force you to be absent during some of the cla.s.srooms discussions, you should ask yourself seriously if a case school is appropriate environment for you.
COST OF THE PROGRAM.
If your employer is paying for your program, finances will probably not be weighed too heavily in your decision. Even so, remember that you will probably need to: * Make the payments up front (you may not be reimbursed until your grades are official)* Pay for a percentage of the tuition if you don't get all A's* Cover the expense of books and incidentals* Pay for school fees (such as registration, insurance, and so forth) If your employer is not paying for your degree, there are a few options to consider, such as: * School loans* Scholars.h.i.+ps* Government aid* Your savings* Family loan In part 4 we will review these and other possible funding sources in the event that your company does not have a tuition reimburs.e.m.e.nt policy in place.
LENGTH OF THE PROGRAM.
More and more M.B.A. programs are streamlining the number of credits required to complete the degree. Cognizant of your personal schedule, how long will the degree take you to complete? What is the school's policy on waiving courses? And most importantly: Is the program start date consistent with when you want to begin the program? If this is not the case, and there are no rolling admissions, you may find yourself missing a deadline and waiting a full year before entering a program.
WORKLOAD.
Think about how hard you are prepared to work. It is generally true that the more effort you put into your program, the more you will gain from it, but some programs demand an extraordinary amount of work.
How Many Credits? Many Credits? In general, the M.B.A. student is expected to earn around 60 credits in order to graduate. That translates to about 20 cla.s.ses! In general, the M.B.A. student is expected to earn around 60 credits in order to graduate. That translates to about 20 cla.s.ses!
If the program uses teams for projects and cases, the time required can rise rapidly. Even without group or team meetings, you may need to spend six or more hours per week outside the cla.s.sroom for each course.
FLEXIBILITY OF THE PROGRAM.
Obviously, you need to weigh the importance of various aspects of the program are and see where you need the most flexibility. Some areas you should consider include: * Can you transfer from part-time to full-time programs (or vice-versa)?* Can you transfer credits from other schools?* Can you take time off during your program?* Is there any traveling required?* When are the cla.s.ses taught: evenings only? weekends?* How diverse is the student body?
PARETO CHART.
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