Finding the Right MBA Program

Making the decision to get an MBA is just the first step in the overwhelming process of finding a program to mesh with your goals. When shopping for an MBA program, where do you begin? BCBusiness spoke to Chris Graham, director of MBA programs at the University of Victoria’s Sardul S. Gill Graduate School and Gustavson School of Business, who has some advice for prospective students: Find the school that best fits your needs.  

Finding the right MBA | BCBusiness
There’s a lot more to finding the right MBA program than finding the top brand-name school or the cheapest tuition.

Making the decision to get an MBA is just the first step in the overwhelming process of finding a program to mesh with your goals.

When shopping for an MBA program, where do you begin? BCBusiness spoke to Chris Graham, director of MBA programs at the University of Victoria’s Sardul S. Gill Graduate School and Gustavson School of Business, who has some advice for prospective students: Find the school that best fits your needs.
 
But there’s a lot more to finding the right MBA program than searching for the school with the cheapest tuition or the top brand-name university. While there’s a multitude of factors to consider, there are a few key points prospective students should consider. 

Length of Program

MBA programs vary in length, from 12 months up to two years. But be careful when comparing various programs – all completion timelines are not created equal.
 
Graham notes some programs can be described as 16 months, but actually take two years to complete. The program will only count the 16 months a student is actually in the classroom (about eight months per calendar year) without accounting for summer and winter breaks. Research whether the completion schedule includes your time off to ensure you’re really comparing apples to apples. 

Type of Program

Students should examine schools and try to find one to best match their interests and needs. Considering options such as an MBA versus an Executive MBA (EMBA) and various concentrations can help you focus your energies on what you’d eventually like to do with your degree.
 
Graham says delving deep into the specializations and types of degrees is one of the best ways to refine your search. 

“There’s a wide variety of programs being offered,” he says. “At Gustavson, for example, we have a lot of programs here and then we go off into three specializations – international business, entrepreneurship and management. Say a student wants to do finance and that’s all you’re interested in. That means you’re probably not a good fit for us. That being said, the finance industry is all about service management, which we do offer.” 

Financial Factors

Tuition for MBA programs in B.C. ranges from just under $20,000 up to almost $45,000 per year. When you’re plunking down that kind of money for a degree, make sure you can afford it. “Students should also look at the payback schedule,” Graham says. “Will I be able to recoup that in the future? Our current payback schedule is about three-and-a-half years. Anything beyond that is a little excessive.” 

The cost of an MBA can ultimately determine what program you’ll attend. But don’t forget to check with each prospective school’s financial aid office – there’s always grants and scholarships up for grabs for qualified students.
 

Ultimately, the objective is to find a program that caters your individual needs. Schools are seeking the same square-peg-in-a-square-hole fit. “We’re looking for good student fit. We want to make sure we fit with the student,” Graham said.