You’re ready to take the next step in your career and earn a master of business administration, but you don’t yet know what to look for in a school or where you should apply. The first step toward choosing an MBA program is answering why you want to return to business school. Are you looking for a promotion within your company? Do you want to start your own business? Or are you looking to change your career path? Answering why you want to earn your MBA will help you narrow down your school choices, allowing you to start exploring the options available to you in Canada.
Specialization has been a contentious issue among educators and employers in the past, as some traditionalists insist that and MBA program is meant to provide students with a generalized knowledge of business administration. However, employers increasingly require a greater depth of knowledge at the management and executive levels, especially in finance. Other industries have been pushing for greater cooperation with business schools to develop programs that provide special insight into the challenges they face to better prepare future leaders. If you have a clear vision of the career path you want to take, specializing in your study is an option. If you want to work in finance, for example, you can find an MBA program with CFA exam preparation at the Lazaridis School of Business & Economics.
Full-Time vs. Part-Time:
One of the major decisions you will have to make when going back to school is whether you want to study full- or part-time. Each option has its benefits and some universities offer both a full- and part-time MBA. Going full-time is a great way to change career paths or to study if you are coming directly from an undergraduate, but if you are already working in your desired sector, enrolling in a part-time program like the MBA at Lazaridis, at either their Waterloo or Toronto campuses. Studying part-time while you work also allows you to defray some of the costs of tuition while staying actively employed.
If you are starting your MBA directly from an undergraduate or you don’t have work experience in your chosen field, you should strongly consider a school that offers a co-op MBA program. A co-op will help you establish your experience in the field and build relationships and networks with potential employers later. On the other hand, if your goal with this degree is to start your own business, the entrepreneurship specialization at the Lazaridis MBA Program in Canada prepares students to lead and scale startups.
The AACSB is an organization that accredits business schools across the world according to tough criteria that are re-evaluated every five years, and only the top five per cent of schools globally are accredited. AACSB accreditation is a sign that the school produces better graduates who are more sought after by employers. When you are looking at business schools in Canada, only apply to those that have earned AACSB accreditation.
Before you start applying to business schools, do your research and narrow down your options to universities that are accredited with the AACSB, offer specializations and programs that will help your career path and let you choose to study part-time or full-time.
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