FAQ on MBA Admissions

Today happens to be the last day of the term break. I am not sure whether I am disappointed the break is over or whether I am eager for the mayhem to resume. Anyway, I’d like to take this opportunity to welcome the new batch of students into this fantastic school. At the same time, I thought to publish a set of frequently asked questions for those who’re either starting out the admission process or are in the middle of it. I’ll publish a set of 3-4 FAQs covering the different aspects of the MBA admission, and the post-admission planning process. Hope it helps!

FAQ on MBA Admissions

Q) What’s a good GMAT score for admission to a good school ?
Believe it or not, there is no such thing. You get evaluated on your essays, your academic and professional experience, and your GMAT among other things. One could say that a weakness in one of these areas may be made up by a strength in another, but that’s not always true. I know people who’ve a sub-600 GMAT score but a lot of invaluable work experience make it through to top schools. Therefore, work as hard as you can for the test, but don’t lose heart if you don’t go above 700, because only 7% people who write the GMAT do. For those still obsessed with a number, I’d say anything above 650 looks good for average to above-average resumes, but obviously there aren’t any guarantees. Ever.

Q) What’s the best way to find good schools ?
A good place to start looking is www.mba.com. Another way of looking up schools is through various ranking websites such as Financial Times, The Economist etc. Obviously rankings do play a role in school selection but you must look beneath the numbers here. For example, if you want to do finance you want to chose the school with best ranking in finance programs rather than its overall rank. Another couple of aspects to consider are the school’s location and program duration. Most top ranked schools happen to be in the US where programs run for two years mostly. You obviously should not compare these programs with say 1 year programs in UK, so be careful with the rankings.

Use the information about the school from its website to see how best it fits your career plans, how well it is known by employers you plan to work with, how many scholarships are available, what are the school’s strengths and weaknesses with respect to academic streams such as Marketing, Finance, Strategy etc.

Q) How important is the University affiliation ?
I personally think it's very important. Not in terms of placement, but in terms of educational infrastructure, facilities, programs, depth of teaching and research experience etc. Ideally, you want your school to be backed by solid credentials. Having an affiliation with a good university also means the school can offer a wider range of electives, have better professors to teach you etc. As for you, you get to use the facilities of the university itself such as the libraries, career events, cultural societies etc. Having said that, I do know a couple of schools which are super-cool without being affiliated to any university (case in point – Indian School of Business). However, by and large most good schools are also with really good universities. For e.g., Said Business School (Oxford), Judge Business School (Cambridge) etc.

Q) What are the key criteria for admission to a good business school ?
Essays, professional work experience, letters of reference, Academics, and GMAT score among others, though not necessarily in that order. Your essays should convey your exact aspirations, career plans, your reasoning for the MBA, etc. Try to be as specific and as honest as possible in the essays since this is the first time the reader gets to know anything about you. It’s always advisable to present your thoughts in a clear and concise manner. Use simple language, short sentences, good grammar etc.

The remaining points should be self-explanatory I presume. The MBA selection committee is looking for people who’ve done well in their career, have a solid academic background. Weaknesses in any of these areas can potentially be offset by strength in another. For e.g., if you have only average work experience and academics, it would appear that the GMAT and Essays are going to be more important than otherwise.

Q) What do I need to know about the admission procedure ?
Timing! I strongly believe that timing is one of the most important things to get right in the admission strategy. You just have to apply as early as possible (unless the school does not have rolling admissions), so that your chances of being selected are highest. Most schools have rolling admissions which begin almost an year before the actual term commences. Therefore, it’s critically important that you have all documents (GMAT score, essays, references etc.) ready at least one year before you wish to start studying. Of course, if either you’re a genius or plain lucky you can still apply on the last day and get in, but weigh the odds before you go down that path.

At this point, I must say this. If inspite of all your earnest efforts, you’re not able to apply early, apply anyway; for a small amount (application fee), it’s not that bad a risk.

Watch this space for more common questions answered...:)