If you're considering applying to business school, do your homework. Each year many students apply but don't gain admission to business school. Is it that they aren't qualified? That's likely for some, but the more common reason is that they didn't do their research. Thousands of applicants compete for slots at the top business schools in the country. You have to really stand out to win admission. In order to stand out, you first have to understand the process.
Business School is not only for students who have bachelor's degrees in business, economics, or finance. Business students come from a variety of educational backgrounds -- with degrees in english, history, psychology, and so on. Moreover, business schools prefer that students have a diverse undergraduate background with classes in English, Economics, Math, and other essential fields that are essential to developing oral, written, and mathematics skills.
So what are the steps entailed in applying to business school?
Choose Programs
Which schools will you apply to? Look through an online or printed directory of business schools for information on business schools. Directories provide profiles, statistics, rankings, and other valuable information on business schools. When choosing a school consider:
- Degree offered.
- Curriculum.
- The Reputation of the School.
- Instructional Methods – Theory Based (lectures) or Case Based (Solving real-life situations) or a mix of both.
- Options after Graduating.
- Tuition and Financial Aid.
Construct Your Application
After deciding on which schools you will apply to, you will need to get applications and the material requested by the institution. Here are the typical components of the business school application:
- Application form. Usually students submit forms and documents via a school's website.
- GMATs. Take the GMATs in the summer. Your last chance to take them and meet application deadlines is in October/November. It takes 2-3 weeks for your scores to be mailed to the schools so it is highly advised that you take it at latest a month before the application deadline
- Personal Statement/Essay
- Letters of Recommendation. Request letters of recommendation at least a month before the application is due. Your recommenders need enough time to write a meaningful letter so help them do their job.
- Transcript
Attend the Interview
If you're invited for an interview, you have a good chance of being accepted (but it's not a given). Learn all that you can about the interview process and prepare.
Understand the Process
Business School admission is based on three things:
- Undergraduate GPA
- GMAT Scores
- Experience
Business schools prefer students who have at least a 3.5 GPA, between 500-600 (700 for the top schools) GMAT scores for each section, and experience. Experience can be defined as work experience, volunteer jobs, community service, personal experience, etc… Relate your experience to your desire to attend business school and your career goals (this is great piece to include in your personal statement!). Business schools highly value individuals who already have work experience because these individuals have already acquired various skills ranging from interpersonal skills to leadership skills to problem solving skills. The problems exposed to in the work force are the problems that are discussed and dealt with in business school. Therefore, having experienced real life situations can make attending business school easier.
