MBA Schools

The best way to launch a career in the business world is to have your master’s of business administration (MBA) degree. This will require four years of regular college plus another one or two years at graduate-level MBA schools, but it will be worth it if this sets you on the road to success in the business world. Just how do you choose among the available MBA schools? Some practical suggestions follow:

Cost: Can you afford the tuition at the MBA schools you are considering? Before you decide that you can’t, bear in mind that you don’t need to fund your education on your own. Many organizations, some businesses, and the United States government, make grants, scholarships, and loans available to prospective students who can show financial need or who show particular promise based on their previous performance. Go to the Free Application for Student Aid (FAFSA) Web site and fill out the FAFSA form, which allows you to apply for a large number of funding options at the same time. It’s a fact that student loans will need to be paid back after graduation (though the interest is usually low), but grants and scholarships are essentially free, so you should consider them first.

Location: Do you need to choose from MBA schools that are close to home? Perhaps you have a job that you can’t leave or you need to take care of an invalid relative. In that case, you’ll need to find a MBA school within easy commuting distance—less than an hour’s drive each way if possible—or even online. (Remember that you don’t want to use up all of your studying time driving to and from classes.) If you can afford to move away from home, look for a school in a place where you’d like to live. You may even like it so much that you’ll decide to stay there to launch your business career.

Prestige: Do the MBA schools that you are considering have strong reputations? Will having the school’s name on your résumé open doors for you with employers? More prestigious schools cost more, but the prestige of the school will also help you find a higher-paying job that will more than pay off the extra expense. And, it may speed up promotion possibilities if the school is well known.

Staff: Are the teachers at the MBA schools held in high esteem? Remember, these are the people who will help you make important contacts and launch or relaunch your career.