How to Choose the Right
MBA PROGRAM
Contents
02
Introduction
03
Significant ROI
06
A Multitude of Options
09
What to Look for in an MBA Program
11
Clarkson’s MBA
Seventy-five percent of business school alumni say their degree provided opportunities for faster career advancement. Eighty-two percent say their degree increased their earnings power. — 2017 Alumni Perspectives Survey Graduate Management Admission Council
Introduction If you’re considering an MBA, you’re in good company. An MBA has long been one of the most popular graduate degrees in the U.S. Since 20102011*, the MBA has been the No. 1 choice of students who continue their education beyond a bachelor’s degree. Even more important, the vast majority of graduates of MBA programs credit the degree with advancing their careers and boosting their incomes. Much of the MBA’s value lies in the skills and perspectives the degree program provides. Strong MBA programs combine the fundamentals with an emphasis on strategic thinking, teamwork, flexibility and leadership. That combination can pay dividends—in personal and financial fulfillment— throughout your career.
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Significant ROI MBA students come from a variety of disciplines and professional situations. Some have bachelor’s degrees in business administration, and others haven’t taken a single business class. Some enroll in an MBA program immediately after earning an undergraduate degree. Others work full or part time and are looking to advance professionally, change careers or launch their own businesses. Almost without exception, they view the MBA as an investment in their future. In many cases, that investment starts paying dividends soon after the program is completed—with job offers at significantly higher salaries than those paid to graduates who do not have an MBA. According to the 2017 Alumni Perspectives Survey Report, published by the Graduate Management Admission Council (GMAC):
95%
95 percent of alumni view their graduate management education as a good to outstanding value.
93%
93 percent say their degree is personally rewarding, 91 percent say it is professionally rewarding, and 76 percent say it is financially rewarding.
86%
86 percent strongly agree that their education prepared them for leadership positions, 85 percent say it prepared them for their career, and 82 percent say it increased their earning power.
92%
Knowing what they do now, 92 percent would still pursue a business management degree. Clarkson University | 03
I wouldn’t be where I am if I didn’t have my MBA. I know that. — Andrew Miller, MBA ’15 Clarkson University One-year residential program, Potsdam
Andrew Miller, MBA ’15, data insights product manager at Coupa Software in Silicon Valley, is a case in point. He enrolled in Clarkson University’s accelerated full-time MBA program after earning a Bachelor of Science in Global Supply Chain Management, also from Clarkson. His MBA coursework included a concentration in data analytics. Miller was recruited by Coupa and had an offer in hand before graduation. He joined the cloud-based spend management software company as a supplier enablement analyst and was promoted 20 months later.
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“I pursued the MBA because I thought it would help me further develop critical business decision-making skills, help fulfill a certain salary expectation, and push me to achieve my goals,” he says. “It was a challenge, but already I’ve had opportunities and career growth. I attribute a lot of that to earning the MBA. I wouldn’t be where I am if I didn’t have it. I know that.” At Coupa, Miller expected to use the problem-solving, presentation and management skills that were emphasized in his MBA program—and that has been the case. He was pleasantly surprised to discover other applications of his education, as well. “The program was so intense and covered so much information that you had to learn quickly,” he says. “Now, if a problem comes up in a meeting, I can solve it, develop and execute a plan very quickly—and still manage my work. I honestly believe it’s because of the MBA program and the creativity and quality of work that was expected.”
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A Multitude of Options Today’s MBA students have more options than ever before. Like Miller, students can attend a full-time, residential program and earn an MBA in as few as nine months. Or, students can work full time and choose from a variety of part-time options: • On-site evening or weekend-only programs. • Online courses, available anytime, anywhere. • Hybrid on-site/online programs, which combine the convenience of online classes with opportunities for in-person interaction with faculty and peers. Many programs also offer certificate and dual-degree options for students who are interested in adding a specialization in areas such as environmental management, global supply chain management or healthcare management. Christopher Wszalek, director of MBA programs at Clarkson University’s School of Business, emphasizes that program decisions are personal ones, based on each student’s goals, circumstances and preferences. “We never push students to choose one type of program over another,” he says. “It’s very much a process of self-discovery.” Timing and life circumstances are important factors to consider. For example, are you a new graduate who can more easily adjust to a year of full-time, accelerated coursework? If you’ve already begun your career, can you afford to take a year off to pursue an MBA full time? Given your existing commitments, can you handle the rigor and workload of an MBA program, whether full or part time?
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I have a level of responsibility and success that I would not have expected just six years after completing grad school. — Laura Lachell, MBA ’11 Clarkson University Hybrid program, Capital Region Campus
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Laura Lachell, MBA ’11, program manager of key accounts for Plug Power in New York’s Capital Region, decided to pursue her MBA immediately after earning a Bachelor of Science in Marketing. “I knew that, to set myself apart, I needed more than a bachelor’s degree,” Lachell says. “I chose the MBA because it offered the most versatility. I was 21 years old and not sure what I wanted to do, so I didn’t want to limit myself to one industry.” Lachell opted for an on-site evening program that enabled her to work days, form strong bonds with her MBA cohort and professors, and earn her MBA in one year. The program included a full-time internship, which culminated in a job offer. Since then, Lachell’s career has steadily advanced, and she gives much of the credit to the core skills learned in her MBA classes. “Part of that skill set includes learning how to apply them to new industries,” she says. “I’ve switched companies and industries—and knowing how to transfer those core skills has been key.” Lachell’s first job after earning her MBA was as a marketing associate for a nationwide eye care company. In 2014, she joined Plug Power, a leader in the hydrogen and fuel cell industry. Since then, Lachell has been promoted twice. “My MBA has opened so many doors and provided so many opportunities that I would not have had otherwise,” Lachell says. “I have a level of responsibility and success that I would not have expected just six years after completing grad school.”
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What to Look for in an MBA Program One in five Clarkson alumni is already a CEO, president or senior executive of a company or business. No two MBA programs are exactly alike, but the strong ones have important traits in common. Consider the following when comparing programs: AACSB accreditation. This voluntary, internationally recognized designation is widely regarded as the gold standard of business school accreditations. Because AACSB-accredited programs must demonstrate their commitment to high-quality curriculum, faculty, research, innovation and engagement, this distinction offers an assurance of quality. Rigorous, relevant curriculum. Strong MBA programs challenge students on multiple levels. Students will be expected to push themselves—to think differently and strategically, problem-solve as part of a team, hone public-speaking and presentation skills, and develop as leaders. “A good program develops the entire person,” Wszalek says. “It prepares you to navigate unfamiliar terrain and adapt in an ever-changing global economy. It teaches you how and when to lead—and when to be a team player who steps back and lets someone else take the lead.” Clarkson University | 09
Exceptional, engaged faculty. MBA students benefit enormously from qualified faculty who can draw on their own business experience and are committed to developing the next generation of business leaders. Networking opportunities. Successful programs create opportunities to introduce students to alumni and potential employers. Miller, for example, connected with Coupa during a career fair at Clarkson and was offered a job before graduation. He is one of seven Clarkson alumni at the company. “The alumni network and Clarkson connection definitely helped,� he says. Job placement and salary statistics. MBA programs should willingly share information on job placement rates and graduates’ average starting salaries. At Clarkson, for example, the average starting salary is $70,000 per year. Of the 2016 MBA class, 93 percent had secured jobs by graduation. Affordability. An MBA can be an expensive investment. Many programs offer opportunities to keep costs down. Examples include merit-based scholarships awarded for academic achievement or GMAT scores, and articulation agreements between colleges to facilitate transfer credits and waivers, thereby reducing tuition.
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Clarkson’s program has been named “A Top 50 Best Value Online MBA.” — Value Colleges
Clarkson’s MBA Clarkson University offers a variety of MBA and certificate options to meet the needs of today’s students and working professionals. • An accelerated, full-time, residential MBA program on-site at the Potsdam, N.Y., campus. Classes begin in August. Students can earn their MBA in as little as nine months, depending on their business background. • Dual-degree options: MBA / Engineering MBA / Data Analytics MBA / Environmental Politics and Governance • A hybrid MBA program that offers online courses anywhere as well as on-site evening classes at the Capital Region Campus in Schenectady, N.Y. Students can complete the program full time or part time. They also have the option of attending all classes on-site, taking all courses online or choosing an on-site, online combination. Students can complete the program in as little as 18 to 24 months or on an extended schedule, if they prefer. • Advanced certificates in: Accounting (on-site: Potsdam) Business Fundamentals (online, hybrid, on-site: Capital Region) Environmental Management (on-site: Potsdam) Global Supply Chain Management (online, on-site: Potsdam) Healthcare Management (hybrid, onsite: Capital Region Human Resource Management (hybrid, onsite: Capital Region) Innovation and New Venture Management (on-site: Potsdam) Management and Leadership (hybrid, onsite: Capital Region) Clarkson University | 11
Clarkson’s MBA programs are accredited by the Association to Advance Collegiate Schools of Business (AACSB International). For more information: One-year residential MBA Nick Attanasio MBA Recruiter nattanas@clarkson.edu 315-268-5982
Online and Hybrid MBA Graduate Admissions Team graduate@clarkson.edu 518-631-9831
Almost three-quarters (74 percent) of graduate business majors lead to “six-figure median mid-career salaries.” — PayScale 2016 College Salary Report *U.S. Department of Education, 2010-11 through 2014-15 (the last year for which data is available).