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%