If you are visiting this website it most likely means you need help in getting accepted into a university that offers a MBA program. This short and simple guide is by no means the definitive answer to all of your questions, however, it will point you in the right direction.
What is an MBA?
This acronym quite simply means: Masters of Business Administration. Typically this degree can only be earned by someone who has previously completed a four year degree, known as the bachelors degree sometimes referred as a BS or Bachelor of Science or BA which is a Bachelor of Arts. In addition programs base admission on the Graduate Management Admission Test (GMAT) or the Graduate Record Examination (GRE), significant work experience, academic transcripts, essays, references or letters of recommendation and personal interviews. In certain situations the necessity of a previous four year degree is circumvented by other equivalent degrees, certifications, or work experience. Individuals seeking the MBA can come from a wide range of academic school backgrounds and disciplines. When attempting to complete an MBA program, the focus will be on business centric topics such as marketing, operations, HR or human resources, management and more. Students will most likely be given the option to specialize in a particular business study.
What types of MBA are available?
- Two year MBA –
- 2 academic years
- Students usually have classes during the day
- Regular student breaks
- Accelerated MBA –
- Variation of the 2 year option with completion sooner
- Higher course load
- Intense classes and Exams
- Less breaks (summer, spring, fall)
- Part-time MBA
- Classes are held after normal business hours – weekends, late afternoons
- Designed to accommodate the working individual
- Executive MBA (EMBA)
- Super accelerated program
- Allows students to earn MBA in less than two years
- Accommodates working professionals
- Students usually have a high level of work experience
- Distance Education (DE)
- Classes are held off campus
- Students complete coursework at their own pace but within deadlines
- Work and communication can be by mail, internet, video conference, and teleconference.
- Dual MBA
- Program that combines degrees such as the MS or JD
- Cuts time and costs in perusing 2 separate degrees
- Some schools offer the Bachelors and the MBA in 4-5 years
What are the best MBA schools to attend?
(2009 ranking from usnews)
1 Northwestern University (Kellogg) Evanston, IL
2 University of Pennsylvania (Wharton) Philadelphia, PA
3 University of Chicago (Booth) Chicago, IL
4 Duke University (Fuqua) Durham, NC
5 Columbia University New York, NY
6 University of California--Berkeley (Haas) Berkeley, CA
7 New York University (Stern) New York, NY
8 University of Michigan--Ann Arbor (Ross) Ann Arbor, MI
9 University of California--Los Angeles (Anderson) Los Angeles, CA
10 University of North Carolina--Chapel Hill (Kenan-Flagler) Chapel Hill, NC
(2009 full-time MBA ranking from businessweek)
1 University of Chicago (Booth)
2 Harvard University
3 Northwestern University (Kellogg)
4 University of Pennsylvania (Wharton)
5 University of Michigan (Ross)
6 Stanford University
7 Columbia University
8 Duke University (Fuqua)
9 MIT (Sloan)
10 UC Berkeley (Haas)
(2009 part-time MBA ranking from businessweek)
1 UCLA (Anderson)
2 Emory University
3 USC (Marshall)
4 Loyola Marymount University
5 Lehigh University
6 University of Denver
7 University of Chicago
8 Loyola University - Chicago
9 Worcester Polytechnic Institute
10 Drexel University (LeBow)
What does someone with an MBA typically earn?
You’re going through all the trouble to complete a very intense and costly program in order to earn your MBA, so have you ever considered what it may be worth to your future pocketbook? Before going into more details, it is important to note many people may peruse an MBA program for other reasons than to directly earn more income. Those reasons maybe something such as a personal challenge, a feeling of gaining respect, instant credibility (paper credibility), genuine interest in learning, being good at school (the professional student). There maybe more however lets really talk turkey on the payback.
There use to be no assurance that you would earn a penny more if you went to the trouble to get your MBA. Well things haven’t changed much, and you’re still not going to have any assurance. What you can have however, is a list of averages and studies thrown at you to show you over all the data confirms the majority will earn more by completing their MBA. Business Week’s article titled “MBA Pay: A Crystal Ball” goes into all the research but for speedy purposes the meat of the article will be paraphrased for all the lazy aspiring MBA’s out there.
At the 20 Year mark “graduates at expensive top-ranked programs such as Harvard Business School and University of Pennsylvania's Wharton School fare the best long after graduation” the article goes on to say that “After 20 years, graduates of three schools have cash compensation that is double, or more than double, what today's students make at graduation, and none of them are high-profile schools: Georgia Tech, University of Connecticut, and George Washington University. The graduates of 10 schools—including No. 15 Indiana University's Kelley School of Business—had median cash compensation at the 20-year mark that is no better than what Harvard Business School grads make shortly after graduation. And at the No. 5 University of Michigan Ross School of Business, where median cash compensation for new graduates was a respectable $109,000, the pay for graduates with 20 years' experience was just 28% more, or $140,000—the worst showing among the top 10 schools…graduates average about $95,000 excluding bonus, about $15,000 more than PayScale reported…the median cash compensation over the entire 20-year period, for all the schools in the study, was $2.5 million. And fully 37 of the 45 schools fall within $500,000 of the median—suggesting that the difference in lifetime earning power between MBA programs is less than many suppose. Only seven schools broke the $3 million mark, and only one of those—Harvard—comes close to $4 million…”
How do you get into a top-ranked highly qualified MBA program?
Generally speaking you will need to have a high success rate in a number of these areas
- Undergraduate Grades - Transcripts from all undergraduate and graduate academic institutions attended (full- or part-time)
- Smashing Resume
- Responses to (4) Application Essay Questions
- Top GMAT or GRE scores - TOEFL IBT or IELTS scores
- Signed Values statement & Application Integrity Statement
- 3-4 years work experience.
- 3 Recommendations
- Interview
- Family connections
What to look for and how to go about getting an MBA admissions consultant
MBA consulting helps you to get admission into a top MBA program. Getting MBA admission in a top school is a challenging task and only those who are able to market themselves effectively can overcome the cut-throat competition.
MBA consulting can prepare you
- To select the right MBA program
- To evaluate your candidacy objectively
- To improve your essays by improving grammar, content and style
- To solicit letters of recommendation
Why you need to use the service of an MBA consultant?
MBA consultants have great experience and knowledge, so they can help to maximize your chance of getting MBA admission in preferred schools. They can simplify the arduous MBA admission process. They can show you how to make the most of your candidature with engaging interviews and refined essays.
How to select the best MBA admission consultant:
MBA consulting is becoming a profitable profession for many, so it is important to select the consultant who can give you the best chance at success. You need to check whether the consultant holds MBA degree and admission committee experience from top business schools. The consultant needs to understand your requirements, objectives and personality correctly and offer assistance from start to finish of the admission process.
Obtaining MBA consulting service can help you to make sure whether your entire application is tailored to the schools you choose. MBA-admission-consultants.com follows an effectual approach to help you shape every component of your application so that you can prepare a compelling presentation to impress the admission officers. They utilize powerful tools to improve your score and academic record. They offer superb guidance to construct persuasive essays.
MBA consulting helps you to hit MBA interview sessions, as it prepares you with the exact questions that would be asked in live interviews. It also facilitates you to know how to get financial aid by way of scholarships, grants and loans. The qualified consultants also design a systematic plan that fits your individual needs and thereby help you to get admission in the most prestigious business schools.