International MBA: Making the decision

I believe I used a framework that I would like to call "the four Ps of b-school decision making". The four Ps (no connection to Jerome McCarthy's theory on marketing) are Programme, Prospects, Price and People.

Programme
I had seen many of my fellow applicants recite B-school rankings at the drop of a hat. Rankings, thus, seemed like the logical place to start the investigation. Since the brand value of an MBA is one of the key components of the money you spend on the MBA, I felt that the total value of the programme would be reflected, to a great extent, in the rankings.

However, to ensure that I was not swayed by the "one-year wonders" (schools that suddenly peaked in one year and slipped off the rankings thereafter), I tabulated rankings for schools over three or four years. To make sure that my impression was correct, I also looked at rankings from about five publications. The emerging pattern showed that certain schools maintained a respectable position consistently, about 15 of which I put up on my shortlist.

Then I considered the specifics of the programme itself such as whether it had a one-year or two-year format or anything in between, assigning a higher weightage to those of shorter durations. I pored over the brochures to glean information on the specialisations the programmes were known for. I attached a marginally higher weightage to those with strengths in corporate finance, my main area of interest.

I jotted down the flexibility available in choice of electives. I also performed a reality check by noting the acceptance rate at the shortlisted schools. The best schools would also have the highest number of candidates competing for them, right?

In the case of business schools from non-English speaking native regions, an additional (cultural) feature caught my attention and my fancy -- the bilingual study methods -- ensuring that every participant would have an advanced (business) level of proficiency in the local language. This was peculiar to some European programmes and given my personal interest in languages, I gave them an additional vote.

Prospects
The purpose of the MBA, at least in the immediate term, was to accelerate my career path, which subsumed the aspiration for a more lucrative work opportunity. Therefore, the work prospects after the programme would be a key determinant of my decision. I examined the employment/ recruitment statistics at the shortlisted schools -- the percentage of students placed through the school's career services, the major sectoral groups that recruited them, the range of remuneration they were offered, and the locations they were offered positions at.

This consolidated picture told me which schools were preferred by which employers for what type of candidates at what locations and for how much money. It also suggested to me the extent of personal initiative an international candidate might have to take to balance the support provided by the schools' career offices in job search.

The other two Ps Price and People willbe discussed in next Post.