Choosing among the world's top business schools

Choosing among the world's top business schools

Sudibyo M. Wiradji, The Jakarta Post, Jakarta

Even though there are several universities in Indonesia
offering a Master of Business Administration (MBA) degree
program, many Indonesian professionals are turning to
international business schools.

Studying overseas in an MBA program not only allows graduates
to have a multicultural experience and insight into international
business opportunities, but also to be very competitive in the
marketplace.

There are many well-known overseas universities that offer an
MBA program in both English speaking and non-English speaking
countries.

Harvard Business School in the U.S., Kellog School of
Management, also in the U.S., INSEAD in France, London Business
School in the United Kingdom, Rotterdam School of Management in
the Netherlands, Melbourne Business School in Melbourne,
Macquarie Graduate School of Management in Sydney, the University
of Otago School of Business in New Zealand, International
University of Japan (Niigata) and National University of
Singapore business school -- to name a few -- are among the
world's top-tier business schools that frequently appear in
ranking tables.

The standard period for a full-time MBA course in most
countries is two years, with an average of US$25,000 for tuition
per annum. Several universities in Europe like France's INSEAD
and Switzerland's Institute for Management Development (IMD)
offer a one-year MBA program.

Education advisors say that MBA rankings might help
prospective students to identify prospective MBA schools, but the
rankings should not be regarded as the only measure of a good MBA
school.

Basing the selection of a school through its rankings leads to
the mistaken view that failure to gain entry into one of the top
business schools means taking an MBA would not be worthwhile.

Normally, overseas universities that are internationally
recognized set high academic requirements because they want to
maintain their reputation, said Ericas Syarif, Education Advise
Service Coordinator at the American-Indonesian Exchange
Foundation (AMINEF).

"For instance, the usual requirement in terms of academic
achievement would be a minimum Grade Point Average (GPA) of 2.75
but to enter top U.S. universities offering MBA program like
Wharton Business School (University of Pennsylvania) or Sloan
School of Management (University of Massachusetts), students
should have a minimum GPA of between 3.5 and 3.7," she said.

"The important thing is that you should know why you want to
get an MBA degree and what field you would work in upon
graduation," she said.

If you are considering taking an MBA course and you are
currently working for a Japanese company in a managerial
position, then Japan would be the right choice.

Studying in Japan at Ritsumeikan Asia Pacific University (APU)
or the International University of Japan for an MBA would allow a
student to gain knowledge of the Japanese management system and
business culture.

"The universities in Japan have a high degree of diversity as
students come from all over the world. This enables foreign
students to improve communication skills and build networks among
future partners and colleagues," said Jeremy Breaden, associate
manager, admissions office of Ritsumeikan Asia Pacific
University.

Requirements for would-be MBA students set by most
universities include submission of evidence of academic
achievement, a score in the Graduate Management Admission Test
(GMAT) and two to three years of relevant working experience.

If MBA program you choose is taught in English, no matter
which country you study in you will obviously be required to
prove your English language proficiency, usually in the form of a
test such as TOEFL or IELTS.

But if you are considering a program taught in Japanese, a
high degree of proficiency in Japanese would be a must, said
Jeremy.

Below are some tips to help decide where to take an MBA.

- Make an honest self-analysis and determine why you want to
take a MBA and in what field you would be most content working.

- Obtain an overview of reputable schools and contact
representatives of overseas universities or attend an education
fair.

- Compare various rankings, but do not rely on rankings in the
school selection process.

- Speak to alumni from your shortlist of schools to develop a
feeling for the culture of each one.

- Narrow down your list to several schools, let's say to five
schools.

- Be sure that your background and goals fit in required
quantitative measures, such as the Graduate Management Admission
Test (GMAT) scores.

- Consider an area of specialization. For example,
entrepreneurship, finance, marketing or technology.

- Also consider a profile of participants, such as average
age, educational background, work experience, and languages
required.

- Look at the selection of companies actively recruiting from
the school in the last 12 months to know the quality of the
program.

- Compare tuition fees required from one school to another.

- Decide your budget and how you are going to finance your
studies after deciding to take an MBA and identifying a group of
target schools.

- Find out if there is any possibility of getting a
scholarship to make the programs affordable.

- Make realistic estimates of your earning potential post-MBA
to judge what you can afford.