The choice of school is extremely important for any MBA program.
I would recommend to pay attention to the following factors:
1) school rankings – there is a number of the – Wall Steer Journal, Financial Times, The Economist, Forbes to name a few. They differ in methodology and show sometimes contradictory data. But you ought to study them
2) geography – The easiest option is to attend a local school, maybe evening lasses or something. I do not recommend this option unless you live in Silicon Valley or Boston and you local school is Stanford GSB or HBS. However, a lot of people go to local schools. So the most wise decision is to change geography and go somewhere else. There are some strong and reputed schools in Europe like Insead, London School of a Business, IMD, IE, maybe some more. All the rest are at least second tier school.
3) program duration – the best option is two-year classic full-time program. But there some red flags here. This is the best option when you are single, under 30, want to change the three domains of you future: function, industry, geography. I should warn you – in no case this is a success factor. Neither business school guarantees you a jib after graduation. You can be lucky to get into the program(element if luck is always present), but you should work hard all the time, under constant pressure. I chose one-year full-time, accelerated program. It was tough, but I am glad I did that. I am married, I have a daughter and I was 29 when I graduated.
I would recommend the following while choosing the school:
1) do a deep research of the rankings and choose the 10-20 short-list
2) study the business schools web-sites. They are usually big portals with a lot of information.
3) find alumni in your circles and approach them with an informational interview request. You can even find some people whom you do not know on LinkedIn and ask for the same. It is considered a good practice and refusal is very unwelcomed in this community. Every worthy MBA graduate should find time to talk to potential students.
4) visit an MBA fair that is held every year at least once in many big cities
5) find a good GMAT tutor or sign up to online and offline courses
I recommend to apply to at least five schools not less. You can have one or two schools of your dream, but do not limit your choice just to them. Be clever enough not to underestimate the risks and odds of not bring accepted. But you should have some schools with which you will feel chemistry and magic traction.
Study hard and get ready!