10. How to apply?



Some people strongly believe to an unique application, some believe in a diversify portfolio. I guess the answer is yours.

If you think that you are interested in one and only one school, you might want to show it in your application, even though you might have to retry next year.

If it’s one of many, the framework for all the application pieces are usually the same and consists of basic biographical information and a brief history of your academic and professional accomplishments to date. You submit this portion of your application usually online now in one and unique application.




Who is eligible for these programs?
MBA and Accelerated MBA
While most schools and educational institutions that offer MBA programs have their respective criteria for getting into an MBA course, the two most significant factors that are common to most schools and MBA courses are:


  • Age and Experience: The average age of students applying for the MBA is about 26-30 years. Most of the schools require to have around 4-5 years of work experience before joining the program. Since experience is usually believed to come with age, those under 25 are generally not accepted for an MBA program (except maybe for Stanford).
  • GMAT Score: Although a good GMAT score is not a guarantee anymore for getting to an MBA program, it does better your chances tremendously. Nowadays, having a GMAT score over 700 is important if you wish to get into the Top Tier MBA schools.

EMBA

  • Age and Experience: The average age for E-MBA is much greater since the minimum experience requirement is around 10 years of experience. In E-MBA average age is around 35-40 years old.
  • GMAT Score: The GMAT is not necessary yet for E-MBA program


Other MBA (x-MBA)

  • Age and Experience: These new program are very much flexible regarding age.
  • GMAT Score: The GMAT is not usually in the same range as the MBA

MBA Admissions Process
To understand the admissions process, you have to look at it from an admissions officer's point of view. Each year the staff tries to assemble a well-rounded class consisting of people from a broad range of work backgrounds. It's important that they assemble a diverse group because projects will be more successful and students will learn more if their teammates can contribute their own unique perspectives, and complement their common knowledge.

The admissions staff faces a tricky challenge, in putting together a diverse class because the vast majority of applicants to top programs come from finance and consulting, worked at the most prestigious firms, had good grades as undergraduates, and have stellar GMAT score, making the competition in their categories extremely tough.

If admissions officers were to select candidates strictly on the basis of GMAT scores and undergraduate GPAs, their student bodies would be comprised almost entirely of people from finance and consulting backgrounds, which would make for pretty bad class dynamics.

The goal of the admissions people therefore is to try to have an average age range around what the school target, an as well balance as possible female/male ratio, and an even equally number of people coming from finance, consulting and industries (rest of the world).

Namely, if you come from a finance background, you will, for the most part, compete only with other finance people for the limited number of finance spots available. If you are a consultant, you will compete with other consultants. Although there are no strict quotas for each category, the final numbers are amazingly consistent from year to year regardless of the number of finance or consulting people who actually apply.

So the overwhelming number of applicants from a few categories coupled with the need to bring together a diverse group, forces admissions committee to pit consultant against consultant and investment banker against investment banker.

What does it means for me?
Investment banking and management consulting are probably the most competitive categories. Virtually everyone who works in those fields needs to go to B-school in order to move up in their industry. Admissions people use the last 1/3 spots to broaden the classroom and add some depth of experience to the group. You will need some marketing people, some people from technical backgrounds and some non-profit people. Every class has a few lawyers, architect and doctors along with some real unique profile chance, people with tremendously unique experience that will be valuable to their classmates. But even in this category this is a tough fight.

Essay Strategy
In writing the application essays, your strategy should be to highlight the unique experiences you've had (both on the job and in your personal life) that you believe will be valuable to your classmates, while bringing depth in the specific expertise you belong to.

Make sure that you are sincere and your story stay together all the way until your receive your acceptance letter. Have a story and tell it well in the essays, make it compliant to your goals and your beliefs. The essay that is required with the application should be written sincerely and should be so compelling that the person who is reviewing your application finds it difficult to put your essay down. Write them over and over, until you can not stand them anymore, which the time to give it to friends, of former MBA grads to read and comments on them.

Today most of the schools have their application process online, and you just have to download their form and submit on time. If you application is solid, it doesn’t matter at which round you apply. If you application is average, the sooner the better.

Remember that only as little as 20% of all applications received by MBA schools, are considered further for the next stage in the admissions process. Make sure that you do the best possible job with your application to go on top of the pile.

Links

  • The application process could be very brain draining, and depending on your proficiency in the Shakespeare language you might find the Essays Writing 101 crash course from EssayEdge.com helpful.
  • Applications Milestones to keep in mind the big picture
  • During the admission process you will also have to face multiple interviews with maybe current student, alumni or member of admission committee. McKinsey list some tips and common mistakes to help you in your case interview process if you have to face them.

Books