Guide to Making the Most of Business Schools

Achieve academic and professional advancement by making the most of business schools

By Rachel Davy, Writer/Editor

Action Steps
The best contacts and resources to help you get it done

Go to a traditional business administration school that offers MBA programs to full-time students

If you have the time to attend traditional classes, then go to a college that offers a full-time MBA program. Students who take these types of MBA programs have usually just graduated from an undergraduate program.

I recommend: Check out Harvard Business School, which is one of the top-ranked MBA programs available. Visit the University of Chicago Graduate School of Business to learn about its full-time MBA programs, where you can earn your degree in a traditional college setting.

Make your own hours with online or correspondence MBA programs

MBA distance learning or correspondence classes are a great way for students to get the necessary training required to earn an MBA degree with the ability to make your own schedule. Students and faculty correspond about courses and instructions through mail in this course of study. Online MBA programs are another way to get the education you want while making your own hours and working at your own pace. You can earn degrees in areas as diverse as telecommunications, health care or human resources.

I recommend: Go to Business Schools Search to find listings of MBA distance learning and online MBA programs. Take accredited MBA classes at Drexel Online University so that you can study from home and achieve professional goals.

Take executive MBA programs to continue career advancement for the professional student

An executive MBA program, or EMBA, is an MBA program for students that are experienced professionals and need to advance their career to another level. Since these programs are for students who have already achieved some career success, the courses of study are different from those are just entering the workplace or have yet to. Concentration in EMBA programs are geared more toward executive issues and the global market.

I recommend: Learn about the executive MBA programs offered at Wharton at the University of Pennsylvania and New York University's Leonard N. Stern School of Business. These programs are for busy executives who have been working as professionals for a number of years and need a program that can fit into their busy schedules.

Helpful advice for making the most of this Guide

• •  If you've been out of school for a number of years, it may take you some time to get used to studying again. As a way of making the most of business schools, take some time each day to study your course materials until it becomes part of your daily routine.

Guide to Business Schools

The best business schools offer degrees, training and coaching for entrepreneurs at every level

By Matt Alderton, Writer, Editor and Media Consultant, Logolepsy Custom Content and Communications

Action Steps
The best contacts and resources to help you get it done

Get your bachelors in business at the best business schools

Maybe you're a college-aged entrepreneur. Or perhaps you're a seasoned business owner who once chose enterprise over education. Either way, an undergraduate degree in business will give you an invaluable foundation on which to build future learning.

I recommend: Every year, U.S. News & World Report ranks the Best Undergraduate Business Programs; for a small fee, you can browse business schools' profiles. The Princeton Review, meanwhile, offers free access to information about the country's top business schools; visit its Web site to browse undergraduate business programs by major and concentration.

Consider MBA programs at top business schools

The gold standard in business credentials, a masters in business administration can open new doors and attract fresh opportunities. And with so many options -- one- and two-year MBA programs, Executive MBA programs, part-time MBA programs and online MBA programs -- there's absolutely something for everyone at the nation's best business schools.

I recommend: BusinessWeek rates the best business schools and the best MBA programs; on its MBA page you can find school rankings, as well as profiles of full-time programs, part-time programs and distance education programs. In 2006, the top five full-time MBA programs were at the University of Chicago Booth School of Business, the University of Pennsylvania's Wharton School, Northwestern University's Kellogg School of Management, Harvard Business School and the University of Michigan's Ross School of Business.

Pursue a graduate degree in business

MBA programs aren't your only options. A masters degree -- in finance, for instance, or international business -- is the perfect tool for the transitioning professional. Whether you're changing careers or collecting fresh credentials, grad school can take you to a whole new level of scholarly success.

I recommend: At Business.GradSchools.com you can search for graduate programs at business schools by subject area focus, whether human resources or project management. At Monster Learning, meanwhile, you can search for business degree programs in your area by zip code.

Consider online business schools

These days, you don't have to go to school to be a student. Turn your office into your classroom when you take classes from online business schools via certified distance education programs.

I recommend: While for-profit schools such as the University of Phoenix and DeVry are leaders in the online space, more established universities such as Duke University and Syracuse University are also offering online degree programs. Search eLearner.com for a program that's right for you.

Check out after-work business schools

You don't have to put your business on hold in order to be a successful student. That's because business schools have many programs that are flexible enough and affordable enough for working adults.

I recommend: An executive MBA, or EMBA, is the ideal degree for busy professionals, as classes generally meet outside of business hours. The Princeton Review provides a useful overview, as well as a comprehensive list of EMBA programs nationwide.

Try continuing education at business schools

Learning comes in many shapes and sizes, and not always with a degree attached to it. Business schools offer dozens of continuing education opportunities, including management training, leadership workshops and entrepreneurial boot camps for business veterans and newbies alike.

I recommend: Among the country's best entrepreneurial programs are the University of Pennsylvania's Wharton Programs for Working Professionals, UCLA's Management Development for Entrepreneurs and Columbia University's Entrepreneurship Program.

Helpful advice for making the most of this Guide

• •  Going to business school isn't necessarily as easy as deciding to go; keep in mind that the top business schools typically have strict admissions requirements, which may include strong GMAT scores, immaculate essays and successful interviews with volunteer alumni.
• •  Not all business schools are created equal. Before you enroll in a program, review its curriculum to make sure it includes the subjects and focus areas you require. You may need special training, for instance, in marketing or finance, and not all programs give equal emphasis to the same subjects.
• •  Whether you're an undergraduate, a graduate student or a professional, campus visits are always a good idea. Even if you're looking at online business schools, ppeak with current and former students, as well as faculty, in order to decide if the business schools you're considering are a good fit.
• •  Schooling of any sort requires a considerable investment of both time and money. Be prepared to spend anywhere from a few hundred dollars and a couple hours for a one-time training course to more than $60,000 and two years for a full-time MBA at the best business schools.
• •  Understand that school is a serious commitment. It may require valuable time away from your friends and family, so be certain you're up for the challenge before you take the plunge.

Guide to Pricing and Costs of Business Schools

Research tuition costs for traditional, online or correspondence MBA programs

By Rachel Davy, Writer/Editor

Action Steps
The best contacts and resources to help you get it done

Compare tuition costs for different kinds of accredited MBA programs

Deciding what kind MBA program you plan to take to earn your degree can depend on many things, such as whether you want attend classes in a traditional setting or take them online, and also how much it will cost for you to get an MBA degree. The ability to compare the costs will help you make the right decision for you. Prices for a university MBA program can cost from $50,000 to $75,000 per year, while the price of an online MBA can range from $30,000 to $50,000 for a complete MBA program.

I recommend: Go to Stanford Graduate School of Business and W.P. Carey School of Business to compare tuition costs for traditional and online MBA degrees from accredited schools.

Get pricing information for executive MBA and MBA by correspondence programs

An executive MBA program is usually only open to those who have had at least eight years of professional experience before beginning their MBA program. Using a correspondence or MBA distance learning program is another way for you to earn your MBA or business degree. The prices for EMBA can range from approximately $45,000 up to more than $150,000, while distance learning MBA or MBA correspondence costs are usually counted by credit hours in prices starting at about $10,000 a semester or $400 to $600 per credit hour.

I recommend: Go to Pace University to learn how to finance your executive MBA program so that you can take its courses for managers and professionals. Kaplan University is a business administration school that offers MBA distance learning courses in a variety of subjects, from human resources to health care management. It also offers financial aid to MBA candidates.

Learn about financial aid for MBA programs

Because the cost of attending MBA business graduate school programs can be expensive, it might be necessary for you to learn about financial aid solutions available for MBA students. There are programs such as grants, work study, loans, scholarships, tax credits and state aid available to help you save as much as $15,000 to $40,000 on your tuition costs.

I recommend: Get financial aid advice and learn about MBA financial programs from FinancialAidforCollege.com and MBA Applicant. Learn about MBA grants ands scholarships at MBA.com.

Helpful advice for making the most of this Guide

• •  In order to begin an MBA business training program, it is necessary to have achieved some sort of undergraduate degree. Learn about all the requirements before applying to a graduate school.

Action Steps
The best contacts and resources to help you get it done

Graduate management admission test (GMAT)

The Graduate Management Admission Test (GMAT) is a standardized exam that enables business schools to evaluate a candidate's qualifications for advanced study in the field of business management. The GMAT measures a candidates verbal mathematical and analytical writing skills.

I recommend: MBA.com is the official GMAT website, providing specific information about the GMAT exam, preparation for the exam and registration.

Master of business administration (MBA)

The master of business administration is a professional degree that focuses on business communication. An MBA offers the business professional business knowledge, leadership abilities and networking. Specifically, students learn about business strategies and concepts through direct education and hands-on activities. In addition, an MBA provides students with leadership training and a basic network of fellow students to build upon.

I recommend: One Step MBA delineates the characteristics of an MBA.

Professional master of business administration (PMBA)

The PMBA is considered to be a part-time program, which allows business professionals to advance their career while still maintaining their full-time jobs. PMBA classes are frequently offered on nights and weekends. Some programs have a strictly weekend option. Like other MBA programs, students enroll with a group of students or cohort and continue through to graduation with that same group of students.

I recommend: The Moore School of Business at the University of South Carolina provides a good description of a typical PMBA program.

One-year MBA

One-year MBA's are offered by four of the top-rated business schools in the United States, including Columbia Business School, Cornell University, Emory University and Northwestern University. These programs last approximately one-year to 16 months in length. They are designed for professionals who are willing to go to school full-time, already have a business or management background, and do not need an internship to break into the field.

I recommend: The Emory University Goizueta Business School provides specific details about the one-year MBA, including information about the ideal candidate, the structure of the program, student profile and program benefits.

Executive master of business of administration (EMBA)

EMBA programs meet the educational needs of business leaders, managers and other executives in the business field. Students enter the program with a cohort of students and typically complete classes within two years or less. Many EMBA students are older and have more experience than other business school students. Specifically, the average age of an EMBA student is 36 years, with approximately 12.7 years of executive experience. Some of the most recognized EMBA programs in the country include the Wharton School at the University of Pennsylvania, Northwestern University, Kellog School, University of Chicago, New York University, Duke University, Columbia University, University of Michigan and UCLA.

I recommend: MBA Courses Worldwide provides a detailed description of what constitutes an EMBA, how an EMBA differs from an MBA, what type of commitment is involved in an EMBA and who should participate in an EMBA.

B-school profiles and rankings

Business schools are not all created the same. While some business schools have excellent reputations, others won't exactly help you get a job. Most b-school profiles and rankings are done on several factors, such as corporate recruiter scores, mean post-graduate starting salary and bonus, employment rates for graduates, student selectivity, peer assessment scores, placement success, mean undergraduate GPA, mean GMAT scores, overall rank, specialty rankings and acceptance rate.

I recommend: Learn more about the methodology behind b-school profiles and rankings at Business Week.