Perhaps you’ve heard the famous quote by Aristotle “The roots of education are bitter, but the fruit is sweet.” Is that the case with MBAs?
To help prospective students explore the pros and cons of pursuing an MBA, Jenifer Turtschanow, CEO of ARINGO, talks about the different factors to consider when applying for business school. As a former admission team member of one of the top business schools, Turtschanow has gained a depth of knowledge and years of experience assisting students with their application and onboarding journeys. She also helps prospective students decide whether an MBA is worth the investment.
ARINGO MBA Admissions Consulting is one of the most reputable consulting agencies that help business school candidates get accepted to the top MBA programs globally. Founded 16 years ago, ARINGO continues to help candidates with their school selection to top MBA programs such as Harvard, Wharton, Stanford, Columbia, NYU, Kellogg, Chicago, UCLA, Berkeley, Yale, Oxford, Cambridge, London Business School and INSEAD.
Suppose you are interested in pursuing an MBA. In that case, this webinar with Jenifer Turtschanow as a guest speaker will give you more information about costs, funding, recruitment prospects and other factors to help you decide if an MBA is worth it.
Is applying for a Top 10 MBA worth it?
When applying for an MBA, Jenifer reveals that motivations vary. Whether you decide to pursue a business degree – either for switching sectors or expanding duties – it is essential to understand that an MBA gives you practical experience. For those interested in staying in academia, PhD programs may be more suitable, Jenifer says. This is therefore one of the first questions to ask yourself: Will I benefit from an intensive hands-on approach?
Apart from exploring their motives, Jenifer says that applicants should consider their willingness to go through the application process including writing essays, presenting certifications and taking a GMAT exam, which is crucial in assessing their readiness on an academic level.
Location and tuition fees: major factors in determining whether an MBA is worthwhile
The webinar tackles another aspect: location as a crucial factor in the decision-making process. For Turtschanow, location is perhaps the most significant factor in determining whether an MBA is worthwhile. While US schools are considered “good at everything,” European programs are highly specialized, she says. Institutional cultures and international student demand also vary.
Here we should note that location can determine tuition fees as well. Tuition fees play a crucial role, with costs ranging between EUR 80,000 and EUR 100,000 across Europe and USD 130,000 and USD 140,000 across the US. When you add duration and living expenses, Jenifer recommends applying for a loan or scholarship to help applicants complete an MBA.
Does an MBA pay off?
Jenifer says that MBAs open a window of professional opportunities. Many students end up working in consulting, finance, tech, entrepreneurship, or any other industry where they have a chance to get up the ladder. Typical positions include those of a strategy consultant, financial manager and supply chain manager. She adds that both industry giants like Google and start-up companies like Uber are always looking for new people to fill their top positions every year, even during the ongoing coronavirus pandemic.
Interestingly, data show that all top MBA programs have a 90%+ placement rate for their graduates within three months of graduation, with basic post-MBA salaries starting at USD 140,000 – USD 160,000. Do not hesitate to check ARINGO’s MBA Return on Investment (ROI) Calculator to compare your expected ROI at the MBA programs with the best ROI in the world.
Watch the whole webinar to decide for yourself whether or not an MBA is worth it!