Choosing the MBA

Dr George Koshy, Director of CDC Management Development Sdn Bhd, explains the important factors to consider when choosing an MBA.

 

The demand for higher education has never been so high. The reason is because of two main factors: 

 

First, the educational background that a fresh graduate obtains is insufficient in terms of knowledge when entering the working world. As he or she continues being employed – and hopefully with career progression – his or her knowledge will become even more inadequate. 

 

Second, after being in employment for three to five years, one is likely to look for a higher position that will require not only additional knowledge but also the skills to manage the various managerial functions in the organisation. 

 

Hence the pursuit of an MBA is to prepare oneself for the future challenges of the job. Many have asked if an MBA will truly help one achieve this objective. The Economist magazine wryly compared this to an F1 scenario – ‘like an F1 Driver zipping into the pits for fresh tyres, it just takes a short hiatus on an MBA programme and you will come roaring back into the career race primed to win’. 

 

Will acquiring an MBA produce these results? To answer this question we have to consider a number of factors.

 

Are you ready for an MBA?

As the acquisition of an MBA means that you have achieved a certain level of knowledge and matured strategic thinking, it is reasonable for institutions to insist that students need to have certain qualities when embarking on such a programme. Potential students are expected to be mature, have a positive mindset, a commitment to learning and above all a serious dedication to further education. 

 

There is also a trend in the reputable MBA programmes to advocate a certain age and amount of working experience as entry requirements. Some of the highly ranked business schools are advocating an average age of 30 to pursue the MBA. The University of Strathclyde Business School, for instance, is working towards an average age of 32 for their part-time students. Their Centre in Malaysia attained an average age of 35 in the October 2010 intake.

 

The essential test will be how the student is able to manage time as he or she will probably be working full-time and pursuing studies part-time. It is a big mistake to think that you can register for any MBA programme, attend some classes, do a few assignments etc, graduate with the MBA qualification and use it to seek a higher-paying job. This would be a fantasy and will remain one for the rest of your working life.

 

Can you afford to do an MBA?

While ranking of the MBA programme is very important, the cost of the programme is also critical. Currently the public universities are charging a much lower fee compared to private universities and colleges. The range is also wide – ie from RM28,000 to as high as RM100,000.

 

What will you learn?

Most MBA programmes start off with two categories of modules ie the Core modules (also called Compulsory) and the Electives. Such an arrangement meets the needs of the business world as executives and managers could select the electives which would help them in their jobs on graduating. 

 

Is the programme recognised? 

Finally the accreditation of the MBA programme which reflects its global standing is important when a potential candidate decides which MBA programme to select. There are three bodies that give the accreditations, namely 

MBA programmes that have all three (known as Triple Accreditation) should naturally be the top choice. However, the entry requirements and other associated aspects will be different as compared to other schools without similar accreditations. 

 

Thus, candidates should be aware of all the various considerations before deciding to pursue an MBA programme.  

 

This article first appeared in postgradasia 2011, Issue 1.