WorldCity Business Magazine

(3) MBA Special - Tall Double Decaf MBA

by WC

MBAs now come in every shape, size and flavor imaginable. Just figuring out what might work for you requires an advanced degree, in itself. We thought wed try to help.

Going shopping for an MBA program in South Florida is much like going to Starbucks for a caffeine experience. If youre looking for a straight cup o Joe or a standard graduate business school curriculum, forget it. Theres a broad and increasingly exotic menu of options to choose from part-time, online, professional, executive, distance-learning at prices that vary from as little as $14,000 to over $130,000.

Only a few years ago, local MBA offerings were limited. Today, there are at least a dozen business schools both local schools and recent imports from Chile and Puerto Rico, as well as Phoenix, Chicago and Gainesville that offer programs for South Floridians. They are all engaged in high-stakes competition to show how they can deliver a superior value, tailor-made MBA experience in other words, a winning ROI.

And thats only for the part-time professional and executive students who cant afford to be away from their jobs for any length of time. When it comes to full-time MBA programs, the competition and the options multiply exponentially. Schools that dont offer programs in South Florida nevertheless come here regularly to recruit. Next month, more than 40 schools from across the United States, Canada and Europe will peddle their wares at a one-day World MBA Fair.

The biggest competition is in the fulltime MBA program, recognizes Jose de la Torre, who came to Miami five years ago from UCLAs Anderson School of Business to head up the Chapman Graduate School of Management at Florida International University. The South Florida MBA market has intensified along with competition worldwide.

One of the most recent arrivals to South Florida is Chiles Adolfo Ibanez University, one of Latin Americas few top-flight business schools. It will soon complete its first 14-month program which it administers in custom-designed classrooms located in the Colonial Bank building on Brickell Avenue. The program attracted 23 senior executives, largely from South America. So why Miami? Rather than launch small programs in other Latin American countries, said Ramon Molina, the schools executive director, who commutes regularly between Santiago and Miami, it made more sense to be in the hub. Miami is not just any city. It is the Latin America city.

On the other hand, if youre from Miami and its an authentic Latin American experience you are looking for, counters Arturo Condo, dean of INCAE Business School, come to Costa Rica where you can experience a fully bilingual MBA and immerse yourself in the culture. Our last name is Latin America, says Condo, emphasizing that INCAE attracts MBA students from all over Central and South America.

With everyone trying to sell a unique value proposition to steal a term from B-school jargon its no wonder that South Florida business schools have had to buff up. It was only a matter of time before the University of Miami reacted to the intensifying competition by bringing in new blood. Last month, the U of M appointed Barbara Kahn as dean of the School of Business Administration. Kahn, formerly vice dean and director of the undergraduate program at University of Pennsylvanias prestigious Wharton Business School, comes to town with big plans. First, we will prioritize the research reputation of the school, said Kahn. Building our research profile is an important step in becoming a preeminent international business school.

With so many schools striving to be the best and pitching their programs to prospective MBA candidates in South Florida, choosing the program thats right for you is a daunting challenge. To help you navigate the maze we have assembled an MBA Map (see pages 26-32) which compares the basic features of all the major in-class MBA programs available in South Florida.

But first, on the following two pages, a crash course on how to go about applying for an MBA. Double mocha peppermint expresso, anyone?