Join the New Pack of Second MBAs
There are several Indians who have completed their MBA from India but still aspire to study the same program in a foreign country. Even though it may sound futile, there is an increasing number of ambitious Indians seeking to pursue the degree for the second time, only this time they plan to do so from a top business school outside India. The following article discusses global business schools offering Indians the chance of studying abroad and why international MBA entices the Indian youth.
Top Institutes for MBA
Before we get down to understanding why studying MBA from a foreign university appeals to us, let us first explore the top ranking MBA institutes around the world.
According to Financial Times’ Global MBA Ranking 2014, USA’s Harvard Business School is the best MBA institute in the world, followed by Stanford Graduate School of Business. UK’s London Business School has moved to the third position, while the University of Pennsylvania: Wharton is fourth. The rankings have been based on factors like alumni salaries, international spread of their students and gender balance.
Here is a comprehensive list of the top 10 MBA universities:
|1||Harvard Business School||US|
|2||Stanford Graduate School of Business||US|
|3||London Business School||UK|
|4||University of Pennsylvania: Wharton||US|
|5||Columbia Business School||US|
|7||IESE Business School||Spain|
|9||University of Chicago: Booth||US|
|10||Yale School of Management||US|
However, not all universities give students the opportunity for a second MBA.
Universities Allowing Second MBA
Among the given universities, INSEAD (both the Singapore and Paris campuses) allows students to pursue MBA for the second time. There are also many American institutes that are open to second MBA applications, including Michigan Ross School of Business, Stanford, MIT Sloan, Wharton School of Business and NYU Stern. However, applicants must provide valid reasons for doing so.
Darden School of Business accepts applications for a second MBA if the first MBA degree was earned from an institute without an AACSB accreditation. And since most of the Indian MBA institutes do not fall under this category, an individual who has pursued MBA in India is eligible to apply.
If you seek to take admission to Columbia Business School, you will have to take admission to their Executive MBA Program. There are many universities offering accelerated MBA courses. For instance, at Johnson Graduate School of Management (Cornell University), if you hold an advanced degree you can opt for the one-year accelerated MBA course. Same is the case with Kellogg School of Management of Northwestern University of Evanston. Kelley MBA also takes candidates for a second MBA.
But before you apply to any of these MBA colleges, make sure you know what you want from your second MBA degree. Understand your needs so that you are clear in your mind and know what to expect. This will help you take better decisions and write your MBA essay in a more convincing manner.
Will another MBA make significant difference to your professional career? Is it worthwhile to invest so much time and money when you already have what you need? Before you begin applying to international institutes for MBA, prepare yourself to travel the same road again. Do so if and only if you are wholly convinced that a second nosiness degree is going to be beneficial. Once you are 100 percent sure that this is what you want to do and are ready for the drill, start your research on MBA colleges abroad as your future will ride on this research. You need to determine where you would fit best and where you can meet your career goals.
This brings us to the different reasons for students to opt for a second MBA.
Highly sought-after management school INSEAD offers an MBA program that has a huge annual intake of students, of which 10 per cent are comprised by Indians already holding MBA degrees from Indian business schools. Even though these students hail from the same country, their reasons for returning to MBA seem to vary.
According to the trends observed, these reasons can be clubbed under two main categories. The first category consists of aspirants who attended the lower-rung management schools of India and couldn’t quite get the best opportunities or exposure after completing their MBA. Such students tend to feel that their first MBA did not help their careers in any major way and are still in need of a boost.
The other category consists of those individuals who joined the premier management colleges immediately after graduation but ventured into functions and industries they do not enjoy. These individual now wish to take a step backwards and learn the right skills that will help them pursue their calling and make the transition.
No matter what your reason is or which university you eventually take admission to, enrolling for a second MBA is a major decision that must be taken after careful consideration and in-depth research about future prospects.
About the Author
Devika Arora is a prolific writer who compiles relevant facts and analyzes the current state of affairs pertaining to the domain of education in the global context. She is currently writing informative articles and guest posts related to educational courses and careers.