An MBA is a significant investment. With an average duration of one to three years and prices varying from £8,000 (around $9,800 USD) to £120,000 (around $147,000 USD), a lot of time, money and effort goes into obtaining one. Therefore, you will want to ensure that your MBA will effectively enhance your career prospects and gives you the right information to enter a leadership role. One way to ensure that you’re spending your time and money wisely is to make sure that the MBA is accredited and that the business school meets the rigorous standards of an accreditation governing body. What is MBA accreditation? MBA accreditation describes the process of making sure that an MBA program meets the standards of a governing body: providing adequate course content and a learning environment that is conducive to a student’s development. Having accreditation assures the student, and later, any potential employers, that the quality of their degree is comparable to other highly regarded programmes and business schools. It allows students to choose a programme that will provide them with the right information to succeed later in life with faculty that are highly educated with plenty of experience conducting research on the subject or working within the industry. Official MBA accreditors There are several accreditation agencies which evaluate MBA programmes from all over the world. They are: AMBA – one of the most commonly used or referenced accreditations for the top 2 percent of business schools is the Association of MBAs. They operate across five continents and aim to identify the highest performing MBA programmes from all over the world and advocate for schools who strive for an innovative approach to business education. AACSB – another programme that is recognised worldwide, although mainly operating in the US, is the Association to Advance Collegiate Schools of Business. It is the longest-standing nongovernmental form of accreditation which schools can voluntarily apply for. EQUIS – conducts the EMFD Quality Improvement System, a rigorous peer review process which looks at the school’s commitment to continual improvement. They support their accredited schools in being forward thinking, constantly anticipating change and being at the forefront of research. ACBSP - The Accreditation Council for Business Schools and Programmes is a global agency and the first to offer accreditation to all levels of business education. They base their accreditation on the Baldridge Education Criteria for Performance Excellence which looks at all aspects of a programme but places special emphasis on leadership, planning and relationships with stakeholders and business contacts. IACBE - educational and career outcomes are prioritised in the International Accreditation Council for Business Education. They work with their accredited business schools as partners to place their programmes at the forefront of business education. They believe in a more collaborative and less prescriptive approach regarding their business school partners. Accreditation for online programmes and institutions Students applying to well-known business schools with large in-person campuses may rely on the school’s extensive reputation as an assurance of quality education. They may be less concerned about the official accreditation as the school is known to offer good quality MBA programmes. However, newer institutions, particularly online institutions and programmes, may not have the same level of reputation. Students may therefore rely on accreditation as an assurance of quality and that the course content is comparable to other programmes. Governing bodies such as AACSB, ACBSP and IACBE accredit online programmes as well as in-person programmes. Both are evaluated in the same way with the quality of the course and access to opportunities being prioritised. Accreditation benefits Accreditation can be hugely beneficial to all institutions as it ensures the quality of the business education. One element of this is the course content. For a business school to effectively prepare its students for a leadership role, they must have relevant knowledge to succeed in multiple sectors. Accreditation assures students that, by graduation, they will have a comprehensive knowledge of the subject and will be well informed for any future career in business. A reason why accreditation may be valuable, particularly to institutions, is that it offers them recognition for the high-quality services they provide. It gives them a sense of credibility so that potential students who find their programme may be more inclined to consider applying alongside other highly regarded schools. Another advantage is that MBA programmes vary somewhat all over the world. Different countries and regions will have different priorities and practices for their MBA programmes, possibly depending on major markets within the area. Also, some may prefer more traditional teaching methods whereas others encourage a more practical, experience-based approach. Accreditation tells students that, despite these differences, MBA programmes are of comparable quality. It encourages its accredited institutions to adopt a global approach, prioritising international business operations throughout their teaching and encouraging their students to focus on global business relations. Another reason MBA accreditation might be valuable is that it is provides a stepping stone for career advancement. Business and business leadership can be a very competitive field with many people wanting to progress in their career. An MBA is a valuable asset and is highly regarded by employers. An accredited MBA is an even greater asset as it ensures employers that their prospective employee is highly qualified. Finally, an accreditation means that a business school will have contacts with other business schools that are accredited by the same agency, allowing students to network with fellow students, different business schools, alumni and, therefore, employees of some of the most successful businesses in the world. This is an attractive prospect for potential students and can increase the value of a programme significantly. How to check that a programme or institution is accredited Students should be able to check if the programme that they are considering is accredited or not. An easy way to do this is by checking the official website of the business school and the webpage of their MBA programme. The website should be able to provide all the necessary information about the programme including any accreditation. Another way that students can find out about university accreditation is by visiting the websites of the most popular governing bodies. They will usually have a list of each of the business schools and programmes that they accredit which students can use to inform their search for the perfect business school. For anyone who is struggling to find information about MBA accreditation, they could also contact the school directly and ask. All business schools should have their contact details listed on their website with instructions on how prospective students can ask questions. Frequently asked questions What is accreditation? Accreditation is the process of confirming that an MBA programme meets a governing body’s rigorous standards. It assures potential students that the course they are studying is providing them with the necessary information and opportunities needed to succeed. Who grants accreditation? There are several governing bodies that offer MBA accreditation. These include: AMBA AACSB EQUIS ACBSP IACBE How do I know if a programme is accredited? Students can find out if the MBA programme that they want to study is accredited by either referring to the website of the major accreditation companies or the website of the business school they are interested in. They can also contact the business school directly. What are the benefits of attending an accredited institution? There are many benefits to accreditation for both the business school and the student. Some of these benefits include: Ensuring that the course content is of a high-quality and is valuable to students. Recognising and providing credibility to schools to attract more students. Encouraging and facilitating the globalisation of business education. Allowing students to advance in their careers by assuring their employers that they are highly qualified. Providing business schools and their students with networking opportunities with major companies and other accredited programmes from all over the world.