| An MBA is a tough, costly but potentially lucrative | | | | Where I study matters in anyway? |
| undertaking and prospective MBAs have so many | | | | Not as much as before, as business continues to |
| important and genuine questions. Here, we select the | | | | globalise. Narrow down your locations first. The US |
| most commonly asked questions for those in the | | | | and UK MBAs earn the highest average salaries but |
| preliminary stages of considering whether or not to | | | | the costs of undertaking such courses are |
| do an MBA. | | | | commensurately high. There are prestigious and |
| How much experience should one have before | | | | cost-effective courses in Australia, Europe, Asia and |
| applying for an MBA? An increasing number of fresh | | | | India. If you want to develop your career in Asia, for |
| graduates are applying for MBA courses immediately | | | | instance, Australian courses and businesses have |
| after their degree. However, the best advice is to | | | | close Asia-Pacific links; a course in Spain may not |
| gain at least four years of work experience. Sej | | | | have the same links in Asian circles but will be |
| Butler, Recruitment Manager of IBM Europe advises, | | | | beneficial if Latin America is your aspiration. |
| "Before that I don't believe you are getting the most | | | | What about the Return on Investment and how |
| out of your MBA as you are still too junior in your | | | | significant is it? |
| career." | | | | Return on investment (RoI) is a method of |
| Selecting the right MBA college? | | | | comparing the post-graduation salary of an MBA |
| There are hundreds of business schools around the | | | | course against the costs involved in taking that |
| world, and more than one 'right' school for you. We | | | | course. However, there is evidence that MBA salaries |
| recommend short-listing five colleges, two that are | | | | are converging as multinational companies benchmark |
| your dream to get into, but where you will face stiff | | | | salaries on a global rather than on a national scale. |
| competition; one that is a prestigious 'evens bet' and | | | | What about finances for MBA? |
| two that you have a good chance of getting into. | | | | Most of the schools will have some kind of policy in |
| When should I apply? | | | | place to help with some or all of your tuition fees or |
| Early. Find out if your school has a rolling admissions | | | | living costs, even when studying in a foreign country. |
| process - they take applications all year round - or if | | | | We know that hundreds of thousands of dollars |
| there is a specific date deadline, and aim to get your | | | | worth of scholarships or other financial aid goes |
| application in some weeks before it. However, it's | | | | unclaimed every year so spend as much time as you |
| vital that you provide everything at a time, along | | | | can discovering what funding is available and how to |
| with the application. A forgotten GMAT score or | | | | put yourself in the driving seat to secure it. Look |
| letter of recommendation is enough to see your | | | | closely at scholarships and loans but be prepared to |
| precious application moved to the bottom of a | | | | have sufficient money to look after yourself in |
| growing pile. | | | | difficult financial situations. |