Business Schools: Tips and Stats
You asked for flexibility and accessibility, and you got both. The number of part-time programs (evenings and weekends) has expanded; so have opportunities in distance learning and executive M.B.A.'s. Can't afford to take two years without a paycheck? These flexible programs may be the solution.
Insider Tip
Your coursework is important, but B-school is all about networking. Make connections, and don't hesitate to join clubs or sports teams. Schools cater to almost every group and interest (check out Berkeley's Rugby Club, Texas's Entrepreneur Society, or Northwestern's Chinese Business Club). Freestyle motocross not available? Use that entrepreneurial spirit to start an organization yourself.
Getting In
Essays. Admissions officers are obsessed with "fit." They want you to match well with their community. Your essays are the best opportunity to prove that you belong at a school. Study up on the program, and don't be afraid to show who you really are—not who you think the admissions officers want.
Recommendations. Pick your recommenders carefully. Someone who knows you well is better than someone with a fancy title. Ask your recommender early, and take the time to sit down and remind him or her of all your accomplishments.
Nontraditional. Most M.B.A. candidates come from finance, consulting, and engineering backgrounds. But what if you're an English major who has spent the past five years working as an actress? No problem. Business schools eagerly seek out "poets," or applicants with nontraditional backgrounds. The key is to prove your proficiency with numbers. Nail the quantitative section of the GMAT, and, if you can, take a statistics or business accounting class before you apply. And get an A.
Reality Check
- Applications to business school tend to increase as the economy tanks.
- Number of times the GMAT was taken in 2008: 246,957, the most ever
- Average starting salary (plus bonus) for '08 graduates from Penn (Wharton): $136,676
- Portion of full-time M.B.A. applicants who have fewer than three years' work experience: 37%
- Most desired place to work after completing an M.B.A.: Google
- Share of students who planned to switch industries after graduation: 48%
- Increase in pay full-time students expected after receiving their degree: 67%; part-time students: 48%; exec M.B.A.'s: 35%
Reader Comments
Advantage of an online MBA program
As a business student one might want to save on 'on campus' costs and enroll in an online program and get the same diploma from a reputable school.
@ Steve of MD
I staunchly disagree. Evaluation of average student background and core competencies must preclude any decisions made regarding the holistic "value" of a program. Online MBA students are generally more disciplined and have higher reading and writing competency levels than traditional students. Students are also often very disciplined and rely on online programs as a means of education to coincide with other responsibilities. Since they have more to lose than traditional students at high-end universities, who often ride the coat-tails of parental alumni, there is no shortage of pressure to succeed. Maintaining a GPA that will generate a sufficient ROI for their educational investment is a key concern for people who are seeking to better themselves. Business savvy is a balanced combination of street smarts and academia, so online students increase the value of a degree because of the wealth of real-world experience they procure before entering the program.
Quality education should not be reserved for undergrads who are just now being weened off of parental support. If anything, a quality advanced education should function conversely to this tradition. To think otherwise would suggest that the individual has never been forced into a situation of self support, or self motivation. If abundant, that characteristic would be more likely to devalue a program than online learning. I would much rather trust my business to someone who has experience managing multiple initiatives successfully and addressing issues than a smug ivy-leaguer who has limited experience in the trenches.
Online and Hybrid Programs are just a revenue stream for these schools
This online mba trend mentioned above will only dillute the value of every MBA degree that is awarded from Duke, Carnegie Mellon, Babson, etc.
advertisement
