The flexibility of a Masters in Business Administration is astonishing; the most impressive aspect of this graduate program is the versatility it gives recent graduates. With a MBA you can go to work in almost any field. If you prefer micro-brews, you can manage a microbrewery; if you are passionate about philanthropy, you can use the same degree to run a non-profit; if you enjoy flying, you could probably start and manage a helicopter company (manufacturing or guided tours!). Though the mechanics of these hypothetical positions may be roughly the same (i.e. administrative), the real-life benefits of working in a field of your own choosing is unparalleled. The old saying is “If you do what you love, the rest will take care of itself;” a person with a MBA is saying, “If you do what you love and make a ton of money doing it, you won’t need to take care of anything else.”
Now let’s take a look at the best programs in the country, according to US News:
The Harvard University’s MBA program focuses on leadership, innovation, and international business. First-year MBA students share the same curriculum, which concentrates on the foundations of general business management across all the key disciplines. Later in the first-year, time is spent developing the standards for effective communication and collaboration. In the second year of the MBA program, students are allowed to select from a practically unrestricted set of elective options, including other graduate programs. This allows students to focus on developing that knowledge and skill sets which they feel will best help them with their own desired enterprises. Harvard University encourages its MBA students in the second half of their second year to participate in what is known as an ‘Immersion Program.’ Students use the knowledge they have gained and apply it in real-world settings by working for a variety of companies and corporations.
Stanford takes a unique approach in its MBA program and tailors the curriculum to each student and their various backgrounds, work history, and aspirations. Stanford relies on traditional case studies, global study trips, simulations, role-play, immersion internships, and research to provide one of the most prestigious learning experiences in the United States. Another relevant point about the Stanford MBA program is its selectivity; they only select 390 students for their MBA program, this highly competitive process is designed to foster long-lasting relationships between graduates as well as encourage peer-to-peer learning.
While the Wharton MBA program can certainly compete with higher ranked programs in terms of academics, it cannot outshine them. However, if you are in a position to choose between these elite universities, the most compelling reason to choose Wharton is the people associated with the program. They give professors a free hand in formulating and executing innovative classroom curriculum, and give students access to and the opportunity to become members of one of the largest alumni networks in the world. Other unique aspects of this program include the high level of coaching and encouragement each student receives on his or her two-year path to earning an MBA, as well as Wharton’s commitment to teaching and learning from alumni well after graduation. This is called the ‘Lifelong Learning’ program and bears considerable consideration when making a decision about which schools to apply to or which school to attend.
MIT is a very well-known and prestigious university with an excellent MBA program. The Sloan school of Business is a leader in preparing MBA students for the real-world application of management skills. Some of the more interesting aspects of this program are the real-world immersion programs they offer and expect students to participate in, as well the extracurricular activities afforded to MBA students by the diverse and significant number of clubs and other student-run organizations on campus. One of the most outstanding facets of MIT’s graduate degree plan is the emphasis they place on research. If you are looking to become not just a student of business management practices, but an innovator, than you have no farther to look than MIT’s Sloan school of Business.
Northwestern University is renowned for the excellence of their MBA program at the Kellogg school of Business, which consistently ranks in the top five of MBA programs nationally. Though they follow a traditional MBA teaching program, their flexibility in terms of degree plans and interdisciplinary studies is truly remarkable. Not only do they offer a 1-year MBA program in addition to their more traditional 2-year program, but they also have JD-MBA (law/business) and MMM (business/science of management) programs as well.
#4) University of Chicago (Booth)<img class="alignright size-medium wp-image-1942" title="Chicago Booth " src="http://www.newgmat.org/wp-content/uploads/2012/10/booth-logo-300×300.png" alt="" width="300" height="300" srcset="http://www.newgmat Going Here.org/wp-content/uploads/2012/10/booth-logo-300×300.png 300w, http://www.newgmat.org/wp-content/uploads/2012/10/booth-logo-150×150.png 150w, http://www.newgmat.org/wp-content/uploads/2012/10/booth-logo.png 400w” sizes=”(max-width: 300px) 100vw, 300px” />
Much like all the above-mentioned programs, the Booth school of Business focuses on leadership, innovation, research, and a view of the world as a global marketplace. In addition to the reputable name of the University of Chicago, Booth also offers students a wide range of flexible joint-degree programs and elective studies. One of the most noteworthy aspects of the Booth teaching model is the emphasis they place on classroom discussion; students are not expected to mindlessly listen to lectures all day, they are expected to participate in their professor’s lecture and, if given the opportunity, not just debate but contradict the theories and practices they are being taught.