The decision to attend a business school should never be taken lightly because it requires the kind of funds and commitment that may require a temporary change in lifestyle to accommodate. Be prepared to pay from $50,000 to over $100,000 for this two-year MBA degree program. because of the time and money involved, it is important to chose top business universities for the best chance of future success.
Business school students usually begin their studies after they have been in the workforce for several years. This decision is usually made after they assess their current situation and their career goals. because of the two-year commitment of intense training, some students take a temporary leave of absence from their current jobs to study full-time. Top business universities have the advantage of having being well-known to businesses and recruiters, so for students who are willing to work with a different company after they graduate, they chose the best business school available to them.
According to U.S. News, the top five business schools for 2011 are Harvard University, Stanford University, Wharton School of Business, and the Massachusetts College of Technology.
Harvard University offers 27 targeted MBA programs, including concentrations in accounting, finance, real estate, organizational behavior and many others. Harvard also offers joint degree programs with Harvard's law, medical, government and dental schools. Close to 2,000 students are enrolled and tuition is $51,200 per year.
Stanford University is tied with Harvard as number 1 of the top business universities in America. Stanford offers 25 concentrations for its MBA programs, including accounting, entrepreneurship, finance, international business, and more. Dual degree programs are offered in conjunction with Stanford's schools of law, engineering, medicine, education, humanities and science and earth sciences. There are over 800 students enrolled and tuition is $55,200 a year.
University of Pennsylvania (Wharton) offers 16 departments and concentrations for its MBA programs, including accounting, e-commerce, insurance, actuarial science, international business, and more. Joint degrees are offered with Penn State Law School or through the Harvard Kennedy School of Government. There are over 1,600 students enrolled and tuition is $53,926 per year.
Massachusetts college of Technology (Sloan) offers 16 departments and concentrations for its MBA programs, including accounting, manufacturing and technology management, entrepreneurship, technology, and more. There are over 800 students enrolled and tuition is $52,628 per year.
Northwestern University (Kellogg) ties with Sloan at number 4 on the list of top business universities. Kellogg has 21 departments and concentrations for its MBA programs, including accounting, consulting, not-for-profit management, international business, and more. There are more than 900 students enrolled and tuition is $54,000 per year.
Tips and comments
- GMAT scores and undergraduate GPA are important determinants for an applicants chances of getting into the top business universities.
- Applicants should not take a leave of absence from their currents jobs unless they are willing to re-apply after they graduate or seek employment at other companies. A two-year MBA commitment means that by the time of graduation there may not be a place for the new MBA graduation in his or her old company.
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