Let us consider an example: A person X, is already an MBA from a good business school in India- say IIM AHMEDABAD. He got placement from the school, and now works as a senior consultant at a top IT firm in Bangalore. He is happy with his job and prospects but soon realized that he can get better opportunities than this, and thus wants to pursue them further. He then considers taking up a second MBA as an option, to study at top business schools in the US or UK, where he can be provided with better opportunities and thus, polish his future prospects. But then he suddenly realizes that the B-schools offering a top MBA degree, a second time, have high bars set up, and would be more demanding from the candidates, applying for an MBA degree a second time.
If you too, wish to get a second MBA, from a better school, these pointers will help:-
Why a second MBA?
Work experience is not a mandatory requirement, prior to the second MBA degree at most of the B-schools. A second MBA covers the undergraduate students, who did their MBA degree, without any job experience. Thus, giving them a good launchpad to restart their career and choose another field which they feel, they might be better at. Also, many students do their MBA from a less reputed B-school. There can be many reasons for the same. Might be wanting to settle for less, due to some either financial constraints or less percentile. Whatever the prior reason might be, people might want to prefer a second MBA, as they now have the right opportunities. Having done their MBA degree from a less reputed college, they feel they might have entered into the wrong field or a less lucrative field. Thus, they would want to pursue another degree to enter refreshed into a new field. Then again, there are people, who would want to retake the MBA exam, as they feel they could have performed better- but without taking a year drop. These are some of the reasons for entering into a second MBA field.
Which business schools accept and don’t accept a second MBA degree?
List of schools which don’t accept a second MBA degree
- Dartmouth (Tuck),
- Haas (UC Berkeley),
- Fuqua (Duke),
- Owen (Vanderbilt)
The schools accepting a second MBA, with proper reasons from the applicant side, are:
- Darden School of Business.
- Goizueta Business School
Is the second MBA a good choice for me?
Before you go-ahead to pursue the second MBA, ask yourself these sets of questions, which can help you get a more clear vision about the way you are headed towards. Are you ready for the financial costs which a second MBA from a top US business school would bring with it? Can you afford the cost of staying abroad and pursuing a second MBA, which can be really exhausting and can drill a hole in your pocket? Only if you are sure, about the financial liabilities, then move forth.
Are you motivated enough to devote two years of your life towards your second MBA? Does preparing for your GMAT again, to include a better score in your MBA application, sounds like okay to you? Also, having the patience and understanding the concepts and re-preparing for an international exam after working for a few years, can be really a tough call- be sure you're ready for it.
Is an MBA the best option to enhance your career? If you feel doing another degree, can help you boost your career, then go ahead with taking another MBA degree, in your preferred stream.