Top universities for pursuing MBA

Owing to the popularity of MBA programs, one can find several schools providing MBA specializations worldwide. Being an internationally recognized program, Master of Business Administration (MBA) focuses on ensuring their students' holistic development.

MBA is famously known as a managerial degree, thus focusing on a business's organizational aspects. MBA programs were first introduced and offered by US schools during the 20th century. However, with time, necessary changes have been brought to this program as per the respective industry developments. Today, universities worldwide provide this program.

Top business schools generally follow strict criteria while admitting potential candidates. Most US based schools prefer candidates with at least 4 to 5 years of work experience in a relevant field. Usually, top b-schools offer 2-year MBA programs; nevertheless, a 1-year duration alternative has also been provided to students.

How can MBA benefit your career?

MBA programs worldwide are famous for their extensive curriculum and real-life business management experience. Read along to know reasons as to why an MBA program can be worth your time and money.

Career advancement opportunities: Most people consider MBA as the next step towards promoting their career. It adds a new dimension to a person's career by teaching them skills to work successfully in managerial positions.

The most common skills taught to MBA students include but are not limited to are leadership skills, strategic thinking, networking, and communication skills.

Networking opportunities: Business students are expected to develop their networking skills. These skills allow them to promote themselves and their business. Business schools encourage students to meet new people.

Top B-schools often conduct various events, programs, workshops to present their students with networking and skill development opportunities. Moreover, students worldwide attend these schools, offering new perspectives and experiences to their classes.

Industry based learning: Professionals go for MBA programs to improve their future perspectives by shift their sector or industry. MBA can help you learn and adapt to different perspectives with its core modules and courses.

MBA specializations can also assist these students in gaining expertise in the new branch of study.

Appreciating ROI: Although pursuing an MBA program can be expensive, returns offered after these programs often cover this cost.

Top 10 schools to target in 2021:

Pursuing MBA from top B-schools can prove to be the gateway towards your success. Admitting to one of the elite schools could give you several advantages.

While choosing your program, you should consider several factors such as college rankings, accreditations, class profile, diversity factor, and placement rate. Amongst all these factors, college rankings are an essential factor to consider.

Several world rankings tools can help you select the best b-schools, such as QS World University Rankings, FT Rankings, and The Economist. The QS World University Ranking: Global MBA Rankings 2021 has provided a comprehensive list of top universities for pursuing the MBA program. Here are the top MBA programs available across the world:

1. Stanford Graduate School of Business

One of the most prestigious institutions worldwide, Stanford Graduate School of Business, was founded in 1925. With its stringent acceptance rate of 7.1%, Stanford B-school ranks first internationally in MBA programs.

Highlights

● Campus location - Stanford, (CA), US

● Duration (Full-time MBA)- 2 years (21 months)

● Types of degree - Full-time MBA programs, Dual degree programs, Joint degree programs.

● Placement rate - 91%

● Distinguished faculty members - Includes members of American Academy of the Arts and Sciences, John Bates Clark Award winners, and Nobel Prize Winners.

● Mandatory participation in Global Experience program, multiple global programs, international trips, internships, and independent study courses.

● Exchange program - Stanford Tsinghua Exchange Program or STEP

2. Penn (Wharton)

A part of the celebrated Ivy League, University of Pennsylvania, the Warton Business School was founded in 1881. It has an acceptance rate of 18% and accepts students with an average prior work experience of about five years and a GMAT score of 722.

Highlights

● Campus location - Philadelphia campus (PA), US

● Duration - 20 months

● Types of degree - Full-time MBA programs, Dual degree programs, Joint Degree programs

● Placement rate - 98% (got job offers), 95% accepted offers.

● Classroom diversity - 41% female (6% LGBTQ+ students); 19% international students

● Program highlights - global consultation practicum, immersion program, modular courses, 4.0 credits, about 19 majors, core curriculum (including 5.5 electives)

3. MIT (Sloan)

MIT Sloan's Full-time MBA program focuses on research and practice-based studies. With an acceptance rate of 13.8%, admission to MIT Sloan requires constant rigour and dedication from its applicants. On average, AdCom at MIT (Sloan) accepts candidates with prior work experience of 5 years with a median GMAT score of 720.

Highlights

● Campus location - Cambridge, (MA) US

● Duration - 2 years (24 months)

● Types of degree - Full-time MBA (STEM-designated program), Full-time Sloan Fellows MBA program, Dual degree programs, Joint degrees

● Placement rate - 95.5%

● Class profile - 484 students, 38% female, 33% international students

● Programs - Certifications (healthcare, analytics, sustainability), customizable programs, Research programs, MBA tracks, 144 electives.

4. Harvard Business School

Another Ivy League school on the list, HBS or Harvard Business School, is one of the oldest and most prestigious schools worldwide. Harvard's Full-time MBA program has a stringent acceptance rate of 12%. Students with prior work experience of an average of 4.7 years and with a GMAT score ranging from 620 to 790 are admitted.

Highlights

● Campus location - Boston, Massachusetts, US.

● Duration - 2 years

● Type fo degree - Full-time MBA, Dual degree programs,

● Class Profile - 44% female, 33% international students

● Multiple publication resources

● Placement rate - 88%

● Recruiting partners - 600

● Program specifications - Entrepreneurship & innovation, Harvard i-Lab, Product Development Dash (DASH), Field Immersion Experiences Leadership Development (FIELD).

5. HEC Paris

HEC Paris is another top international b-school located in France's Jouy-en-Josas. Established in 1997, HEC's about 4000 graduate students are either company founders, CEOs, or CFOs. The program specifically focuses on developing the entrepreneurial skills of its students. About 25% of the school's students open their businesses and companies’ post-graduation.

Highlights

● Campus location - Jouy en Josas, France

● Duration - 16 months

● Placement rate - 92%

● Class Profile - 290 students, 93% diversity

● Program specifications - weekly mentoring sessions, multiple on and off campus Leadership seminars, MBA tournament (multisport), career centre services

Endnote

MBA is an excellent program in terms of career growth and development. However, the admission procedure of top MBA programs can be both time consuming and demanding. Apart from filling up the application form consisting of well-crafted essays, one requires an excellent GMAT/GRE score, English proficiency test score, and work experience to enter this program. Thus, making this exam a tough nut to crack.

Despite all this, with constant practice and strategic preparation, one can get admission into the top MBA programs worldwide.