As always, some of the issues that most concern students are the conditions of entry. In the case of the MBA, these are some of the requirements to be taken into account:
- Have a university degree from your country of origin or a degree issued by the Institution of higher education.
- Present a good academic record. He gets used to doing admission tests.
- Accrediting professional experience. Preferably in executive positions.
- Demonstrate a fluent English level. The TOEFL is one of the tests that are taken more into account.
In addition, it is recommended to provide the following documentation:
- An updated resume. In relation to its presentation is as important as its content.
- Two or three letters of recommendation. The cards are used to have a clearer view of the aspirant.
- A letter of motivation. The student must write a text explaining why he longs to access the course.
From the beginning you have to make it clear: it is a postgraduate analysis that is not very economic but which, instead, can produce a good investment. But there are different points to consider when you look at the cost of an MBA, because it can change depending on the type of program: whether it’s full-time, half-time or an EMBA.
Generally, on average, the cost of a full-time MBA can achieve more than $100,000, with annual tuition exceeding US $50000, excluding child support costs, if it is to develop this training at the international level.
In terms of costs in Colombia, on average for 2015, this may cost close to $45 million the full investment, this will depend on the institution that has been selected.
At present, the University of the Andes, the Universidad Javeriana, the university Sergio Arboleda, the Icesi, the Inalde and the EAFIT; They are several of the organizations that offer the program.
Most of them also operate and offer the various modalities that have already been mentioned. Therefore, anyone considering doing such an analysis should think about the opportunity cost, as most of these applicants will have to leave their job to be a full-time student.
However, to reduce some costs to the students of this program, there is a great diversity of entities and the same universities that offer financial aid and scholarships. Thus, “the most frequent feature of the scholarships is based on the merits and the type of scholarship proposed depends on each program. Most MBA programs offer this kind of scholarships especially for international students, “added seasoned CEO and General manager of the MBA Tour.
Of course, estimating an investment of this kind seems absurd and is not within the reach of any individual. Even, because this kind of study is much more common to think about doing it abroad. Thus, the most popular destinations for Latino students are the United States, the United Kingdom, and Canada. Most (more than 51%) want to study in the United States. After completing their MBA program, students return to their home country to apply their new skills for growth and development.
Although it can be so expensive, this model of programs can bring you a sufficiently high benefit to your career: on the other hand, wage increases are relevant (to be calculated in more than 160%, according to an article in the Republic, which It will clearly help your financial situation and the possibility to quickly recover the investment made.
According to Peter Von Loesecke, CEO and general manager of the MBA Tour, he proposes that if you are interested in developing an MBA, it is more convenient to do the research on the topic: “You can start with the online search for General advice on MBA programs, as well as the specific search of the business schools of interest. The ‘ MBA Tour ‘ conferences are one of the excellent options for candidates to gather information, participating in the application workshops, the GMAT sessions, the MBA panels, presentations and more. “