FAQs

MYezMBA.com

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Frequently Asked Questions (FAQ)

What is MYezMBA.com and how can it help me?
MYezMBA.com aims to provide the simple,basic and easy MBA definations,articals,and supporting material for MBA students to prepare themselves for getting this master degree,its also provides advice and guidance about MBA programs.

How can I be sure whether or not an MBA program or business school is good or not?
There are several things to watch out for when deciding which schools to apply for. One of the best indicators of the quality of an MBA program is official approval or accreditation by either the U.S.-based Association to Advance Collegiate Schools of Business (AACSB), the UK-based Association of MBAs (AMBA), or the European Quality Improvement System (Equis) list published in Belgium. These organizations painstakingly evaluate MBA programs, and will only give their stamp of approval to programs of a reasonably high standard. Approval by AASCB, AMBA, and Equis is particularly important for students who intend to earn their MBA degree through distance learning.

Are the MBA programs better in the United States, the United Kingdom, Europe, or Asia?
There are world-class MBA programs in all of these places (and don't forget Africa and Australia, either). At the moment, there are generally more programs to choose from the United States and United Kingdom, but this is changing very fast. New, high-quality MBA programs are springing up every year throughout Europe and Asia. And programs from outside the USA and UK are appearing more often on the Top 50 lists with each passing year. While it is wise to pay attention to international rankings of MBA programs, the decision about where to study can be heavily reliant on individual preferences and personal factors. It is therefore problematic to claim that MBA programs in a particular country or continent are "better" than in another.

Do all MBA programs take one year?
No. In fact, many American business schools still follow the traditional, two-year model where students must take a wide variety of courses in their first year, and are encouraged to specialize during their second year. Some American and most European schools, however, now offer full-time MBA programs that last one year or slightly longer. Part-time study is also an option at many schools, catering to students who wish or need to keep working while taking their MBA.

Do I need a visa to study abroad? If so, how can I get one?
You might. It is a good idea to check well ahead of time with the government agency responsible for issuing visas in the country you wish to study in. For example, information about student visas for the United States can be found at the State Department webpage. Consult the Home Office webpage for information about visa requirements for the United Kingdom. Visa information for most countries is posted online, however, it is important make sure it comes from an official (government) source.

Sometimes the process of applying for a visa can take an unexpectedly long time. It is a good idea to get started with the process as soon as you have made your decision where to go.

What are some standard admission requirements for MBA programs?
Requirements and admissions standards for MBA programs vary from school to school. Generally, admissions boards will want to see your overall grade-point average (GPA) from your university education. Many schools also require a GMAT score, a TOEFL or IELTS score (if English is not your native language), letters of recommendation from instructors or employers, and at least one essay from the applicant. Many of the top-tier business schools also prefer applicants who have at least a few years of work experience in the business world. Not all schools, however, place as much importance on applicants' work experience.

When should I begin applying for MBA programs?
Many schools accept applications on a “rolling” basis – meaning they accept applications all year long. Other programs have a fixed application deadline. Be aware of the due dates for applications, and give yourself plenty of time to collect and complete all the documents that you will need to support your application (such as letters of reference, transcripts, essays). Experts suggest that completed applications be submitted as early as possible, but that applicants should never sacrifice quality for speed. Many say that prospective students should aim to begin to the start the application process – taking the GMAT, requesting transcripts and letters of recommendation, composing essays – at least one year before they want to start their MBA.

How much will an MBA cost?
The costs of MBA programs vary immensly. Tuition alone can be as low as 10,000 USD (or lower) a year and as high as 74,000 USD (or higher) a year. Add to tuition fees the cost of supplies (books, computer, etc.) and of living (rent, food, moving to a new place). Some students – particularly those enrolled in full-time programs – also prefer to figure the salary and wages they will not be earning during their MBA program into the total costs of embarking on an MBA.

How can I pay for my MBA? Where can I look for possible sources of funding?
Most people who consider an MBA will also ponder this exact question. Many students cover their costs with a combination of various different sources of funding, including scholarships, grants, loans, internships, fellowships, and money of their own. Sometimes your current employer will pay for your MBA, usually on the condition that you stay with the company for a few years after you finish your degree. For more information about sources of funding, please browse our Guide to Funding Your MBA.

How good does my English have to be to enroll in an MBA program?
Of course, if you plan to study for an MBA at an institution that does not teach in English, you do not have to worry much. Most business schools, however, provide some if not all of their instruction in English. Most schools have established ways of assessing an applicant's English ability if they are not native speakers. The most common standard examination of English proficiency in the United States is the TOEFL. The IELTS is also common in the United Kingdom, Australia, New Zealand, and Canada.

What is a GMAT? Or a TOEFL?
The GMAT is an acronym for the Graduate Management Admissions Test. Many business schools around the world require applicants to submit the results of these examinations as a criterion for admission to MBA programs. More information about the GMAT can be found at www.gmat.org. The TOEFL stands for the Test of English as a Foreign Language. It is also a standardized examination that non-native English-speaking applicants must often take before applying to universities where English is the primary language of instruction. More information about the TOEFL can be found at www.ets.org/toefl/.(We realize that the amount of acronyms and jargon can sometimes be overwhelming for prospective MBA students. Consult our glossary of frequently used MBA acronyms for more information.)

I have found an MBA program that I think should be added to MYezMBA.com. What should I do?
We do our best to stay current with all of our information. However, if you happen to notice any gaps in our coverage, a missing program, or outdated information, please do not hesitate to send us an email. We greatly appreciate your help!