Receiving multiple offers of admission to various business schools after a long application season is a great feeling for most candidates, but the hard part is not quite done yet – now it is time to make a final decision.
For some, this decision-making process will be fairly simple – many candidates prioritize their list of schools well in advance of submitting their applications, so it is easy for them to choose which one they want to attend when they finally hear back from the Admissions Committees. However, in many other situations, all offers are not created equal, so selecting one school from another can often become very complicated. So, where should candidates start with so much uneven information from programs?
Here are a few tips to keep in mind as you choose between multiple business school admissions offers:
Is there a distinction between the programs you are considering? Evaluating your decision between a program with a global reputation like Harvard Business School and a smaller regional program would be an uneven comparison. Generally, the more reputable programs will offer better long term career considerations due to their prestigious names and large alumni base.
Where do you want to live post-MBA? The location of your MBA program plays a huge role in determining the likelihood of where your future job offers will come from. It is always recommended to attend a program in close proximity to your target post-MBA location, whether that is regionally, nationally, or internationally. Reputation can also certainly can factor in here, as the more well-known programs often offer a broader reach of opportunities that can make location preference moot.
Which program better equips you to reach your career goals? Really look at this question holistically – reviewing your target program’s employment report is a great place to start. Look at both the aggregate number of students that have pursued the particular industry you want to be involved in, as well as the percentage. You should also consider are the reputation of the program in this particular industry. For example, Kellogg has a great finance program, but generally does not have a major reputation in the finance industry and with finance practitioners; if finance is your focus and you are choosing between other programs that possess a better reputation in that unique sphere, this would be something to keep in mind.
This is business school after all, so the financial aspect of this decision will probably be a major component for you, even if you are one of the lucky recipients of scholarships. Now, money tends to complicate what may be an otherwise clear decision for many candidates, so build out a few scenarios that will aid in this aspect of your decision-making process. The toughest choices occur between programs that better address the above criteria but provide more limited scholarship money with those that provide more scholarship money but less of the desired attributes. In these situations, it is important to balance out all of your options to make the most holistic decision for you and your family.
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Dozie A. is a Veritas Prep Head Consultant for the Kellogg School of Management at Northwestern University. His specialties include consulting, marketing, and low GPA/GMAT applicants. You can read more articles by him here.