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An MBA in New York, for many, is the ideal way to spend a year or two. There's New York City, obviously, which hosts many business schools, but accredited MBA programs can also be found in other parts of the state.
The Big Apple itself is a primary destination for many international students, who enjoy NYC's many diverse neighborhoods and tourist sites. It's also a global financial center and home to many multinational businesses. Indeed, New York hosts the headquarters of many Fortune 500 companies. The city also features an active arts scene, nightlife, and several national sports teams.
But of course, the state is not just New York City: Business schools also host MBA programs in other parts of New York, in cities like Syracuse, Albany, and Ithaca.
In all, New York currently hosts over 200 MBAs and other business programs. Some 35 business schools in the state have accreditation from AMBA, EQUIS, or AACSB. See below for a list of all MBA programs in New York.
The Master of Business Administration (MBA) is an internationally-recognized degree designed to develop the skills required for careers in business and management. The value of the MBA, however, is not limited strictly to the business world. An MBA can also be useful for those pursuing a managerial career in the public sector, government, private industry, and other areas.
Most MBA programs include a "core" curriculum of subjects, such as accounting, economics, marketing, and operations, as well as elective courses that allow participants to follow their own personal or professional interests. Some schools require that MBA candidates complete an internship at a company or organization, which can lead to concrete job opportunities after the program.
Quality business schools generally require that candidates have at least a few years of professional work experience before starting an MBA program. Applicants are also asked to submit Graduate Management Admission Test (GMAT) or Graduate Record Examinations (GRE) scores, academic transcripts, letters of reference, and an essay or statement of purpose that reflects why they want to pursue an MBA. Non-native English speakers usually have to prove adequate English skills with TOEFL or IELTS scores, or through previous academic experience.
The MBA is currently the most popular professional degree program in the world. Today there are over 2,500 MBA programs offered worldwide; most are offered in English. First introduced at universities in the United States around the turn of the 20th century, MBA programs have evolved to keep up with the demands of the times.
While traditional two-year MBA programs are still common, especially in the United States, one-year programs have become increasingly popular. Part-time and online programs are also widely available for professionals not willing or unable to take a year or two off to do a full-time program. Executive MBA (EMBA) programs are part-time programs targeted at professionals with more years of managerial experience than traditional MBA candidates.
So you've decided it's time to further your higher education and pursue an MBA. Maybe you want to network, maybe you want to acquire new business skills, maybe you want to redirect your already flourishing career towards start-ups, entrepreneurship, or some other area of business. Maybe you want to make more money once you graduate.
Now, it's time to start the application process. You'll need to spend a lot of time putting together your MBA applications and making sure you're the best candidate you can be. But the good news is that many MBA programs, even programs that are located all over the world, are usually looking for similar application materials and have similar requirements. Read on to find out what those are.
What do I need to be a viable MBA candidate?
Business schools are looking for a certain set of baseline requirements from their MBA candidates. First of all, it's essential that you have an undergraduate degree from an accredited university.
Second of all, you'll need standardized test scores, either the GRE (Graduate Record Examinations, the standard test for a wide range of graduate school programs) or the GMAT (Graduate Management Admission Test, the test specifically geared towards business school applicants).
Most schools accept either the GRE or GMAT, but most require that you took the test within the last five years. Schools generally don't require that you achieve a minimum GMAT or GRE score, but many schools publish the range of scores for their accepted classes.
Applicants who are not from an English-majority country usually must also complete a standardized test proving English proficiency, such as the TOEFL (Test of English as Foreign Language) or the IELTS (International English Language Testing System). Even schools outside of the English-speaking world, such as the University of Mannheim's Mannheim Business School in Germany and China Europe International Business School in Shanghai, require English proficiency.
Finally, you'll need work experience. Some MBA programs require two years of relevant work experience; other MBA programs, such as Stanford’s, don't have any minimum work requirement, but even for these programs most accepted applicants still have at least two years of work experience. For college seniors who want to apply for an MBA, some schools will issue acceptances contingent on the applicant completing at least two years of work experience before matriculating at the MBA program.
Which materials do I need for my MBA application?
If you want to apply for an MBA program, you'll need to gather a fair number of application materials. Many MBA programs require that you submit these materials online; you can find the place to do that at the various schools' websites.
For your applications, you'll usually need official test results from the GRE or GMAT, an official transcript, two to three letters of recommendations, a resume, answers to the school's essay questions, and an application fee.
The application fee depends on the school.
The essay questions depend on the school. A recent Harvard MBA application essay prompt asked students to imagine that they are introducing themselves to their classmates on the first day of the MBA program. Oxford University's Saïd Business School has asked students how they fit with Oxford's mission, and whether there is anything not covered in the admission form that Oxford should know.
Other business schools want something more than just a written essay. Boston University's Questrom School of Business, for instance, currently requires students to make three video essays when applying to the school’s MBA program.
Some business schools also ask shortlisted applicants to attend an application interview as part of the MBA application process. Many schools, however, now give the option for students to do the interview online, either through Skype or another platform.
When do I need to apply to an MBA?
Many business schools use the rounds system for application deadlines. That is, some schools have four or five application deadlines. For business schools in the US, these rounds generally start in October or November and continue through April or May (for fall intake). Students can apply for any of the four or five deadlines, and the school will accept students during each application round.
But other schools don't use the rounds system, and instead require students to apply by one hard deadline. Make sure to check the deadlines for the schools on your list.
If you're hoping to win a scholarship, keep in mind that some schools have special scholarship deadlines as well.
How do I choose which schools to apply to?
Choosing your schools is an integral part of the application process. Experts and officials often remind prospective students to avoid applying only to top-ranked programs. Every student has different needs, and it's important to consider a variety of factors when you're applying to schools, including cost, specializations, contacts and geographical location.
Accreditation from a reputable organization is one good way to check the quality of a business school. Accreditation organizations evaluate the quality standards of a business school's teaching, faculty, services, and students, among other things.
The three most-coveted, international accreditations for MBA programs are those awarded by AACSB, AMBA, and EQUIS; their methodologies and regional focuses are briefly described below. Note that while FIND MBA's program listings only reference these three accreditation organization, it's possible that a business school may be accredited by other institutions, including domestic accreditation bodies and other international organizations. Check with the schools you are interested in for more information.
In 2018, there were over 90 business schools worldwide that were accredited by all three of the main international organizations—AMBA, EQUIS, and AACSB. This distinction is often referred to as the "triple crown."
The US- and Singapore-based Association to Advance Collegiate Schools of Business (AACSB) accredits business schools offering graduate and undergraduate business programs. It began doing this in 1919, and now accredits business schools in over 51 countries. It has also been accrediting accounting programs since 1980.
An AACSB accreditation in business represents a positive evaluation of a "school's mission, operations, faculty qualifications and contributions, programs, and other critical areas." Schools are reevaluated every five years.
As of 2018, over 800 institutions held an AACSB accreditation in business, of which about 75 percent were located in the United States. Other countries with high numbers of AACSB-accredited business schools include Britain, France, and Canada.
List of AACSB-accredited business schools
List of AACSB-accredited Online MBA programs
The London-based Association of MBAs (AMBA) accredits MBA programs in around 70 countries. As of 2018, about 50 percent of all AMBA-accredited MBAs and other business programs were in Europe or the United Kingdom. Together, Latin America and Asia contained 33 percent of AMBA-accredited schools, with only two percent located in North America.
AMBA has been accrediting programs since the early 1980s. Along with MBAs, it also accredits Doctor of Business Administration (DBA) and Master of Business and Management (MBM) programs. It judges the quality of a business school's strategy, mission, faculty, students, curriculum, and assessment. By AMBA standards, for example, students admitted onto an AMBA-accredited program must have at least three years of work experience. Three quarters of a business school's faculty must have a Masters or Doctoral degree in a relevant discipline.
List of AMBA-accredited business schools
The European Quality Improvement System (EQUIS) is run by the Brussels-based EFMD Management Development Network. EFMD offers a number of accreditations, but EQUIS focuses on institutions that offer undergraduate, graduate, and doctoral business programs, including the MBA.
EQUIS evaluates a business school's governance, strategy, programs, students, faculty, research and development, executive education, contribution to the community, resources and administration, internationalization, and corporate connections.
Most of over 176 EQUIS-accredited business schools are located in Europe or the UK. As of 2018, only three US business schools had earned an EQUIS accreditation. The countries with the most EQUIS-accredited business schools include the UK (26), France (20), and China (22).
CALSOUTHERN’S SCHOOL OF BUSINESS As supplements to your coursework, students in CalSouthern’s School of Business benefit from a helpful ALA-certified research librarian and a state-of-the-art online library, dedicated academic advisors and the Master Lecture Series which enables you—live at the university’s California campus or via streaming webcast—to learn from and interact with leading scholars, authors and business practitioners. You’ll also receive a complete suite of cloud-based productivity tools at no additional charge for both your coursework and personal use. The primary objective of the MBA program is to create managers and leaders competent in strategic thinking, operational excellence, people management and self-development while also understanding the key components of sales, marketing, accounting, finance, HRM and organizational behavior. Have you ever thought of advancing your career in the healthcare industry? Are you working in management or administration in a hospital or healthcare facility in Eastern Europe? If so, you might want to consider the new online Hospital and Healthcare Management MBA offered jointly by the highly ranked Management Center Innsbruck (MCI), the prestigious Charles University and the dynamic Advance Institute in Prague. With the online Mini MBA course from Excel with Business, you receive training from experts with Strategy, Finance, Project Management, Computing, and Commercial experience. Taking your MBA online will give you the opportunity to be a student with a flexible schedule and to study at a top university in whichever country you choose! MBA online programs are highly time-efficient and allow you to create your own schedule. Get your MBA online and expand your career! EMBA Online programs provide quality education for professionals that must juggle work, school, and family. EMBA Online programs let students create their own schedule. Universities offer EMBA Online programs through email, computer conferencing, sound and video clips etc. Most EMBA Online programs can be completed within 2 years, but can also be taken at a pace that fits the student best. The study format for a 1 year MBA online is very similar to the classroom MBA format, with the key difference being that coursework is completed via the internet – meaning it can be done anywhere in the world at any time of the day or night. 1 year MBA online programs open doors for full time working professionals or those with family commitments to make this a valuable investment in their professional career. A Dual Degree allows students to acquire new skills in the business field while learning to master another discipline. Various fields of study can be combined with an MBA with universities from all around the world. Taking an online Dual Degree can open the possibilities of graduate study to more people than ever before, using up-to-date e-learning technology to bring the classroom to you.Management Consulted, a leading resource for consulting-related data and news, recently released its latest report, 'Management Consulting Salaries for Undergraduates, MBAs/PhDs & Interns' -- and the average salary for new MBA graduates looks good.It's nearly $150,000 per year -- and that's just the start! Most graduates sign a one-time signing bonus of $25,000 and are eligible for performance bonuses.The firm compared data from hundreds of confirmed offer letters from MBA candidates. The data comes directly from consulting firms. There's a big gap between MBAs and undergrads. In fact, undergrads make about half of what starting MBAs make, according to the report. In an exclusive report, Jenny Rae Le Roux, a former Bain consultant and Columbia Business School MBA who serves as Management Consulted's managing director, told Poets & Quants that this trend reflects consulting firms' values on the MBA experience compared to the undergraduate experience.She said, "The intangible value prop of a consulting education is still more differential for someone with less work experience (undergrad/Masters) -- it’s his or her first brand name, c-suite exposure, analytics training, and travel. Plus, it comes with the potential for MBA sponsorship. MBAs – many of whom have already had those things – are making more focused career choices. Many of the things they want then -- lifestyle, specific cities, accelerated promotions, managerial experience, etc. -- come as adequately in tech as in consulting. In short, the market for MBAs is more competitive and their values are different."Le Roux explained MBAs often make the same as PhDs. She said, "Some firms may have special practices that will treat them slightly differently, but in general [MBA/Ph.D. and Undergrad/Master’s] come in at equivalent levels based on their years of work experience. This is not a change from 2018-2019, but standard consulting industry practice."Your takeaway? That MBA is worth it. So if you are thinking of applying for one, go for it!The Master of Business Administration (MBA or M.B.A.) is a master's degree in business administration (management). The MBA degree originated in the United States in the early 20th century when the country industrialized and companies sought scientific approaches to management. The core courses in an MBA program cover various areas of business such as accounting, applied statistics, business communication, business ethics, business law, finance, managerial economics, management, entrepreneurship, marketing and operations in a manner most relevant to management analysis and strategy. Most programs also include elective courses and concentrations for further study in a particular area, for example accounting, finance, and marketing. MBA programs in the United States typically require completing about sixty credits, nearly twice the number of credits typically required for degrees that cover some of the same material such as the Master of Economics, Master of Finance, Master of Accountancy, Master of Science in Marketing and Master of Science in Management.