MBAXPLOIT: STEPS 1-2-3 to a MBA future.

Looking back at my application process and experience, here is some high level advice for future applicants. I will keep it brief………….

GMAT: Set a test date, set a study schedule, determine where you at in terms of knowledge by taking a practice/diagnosis test, then practice, practice & practice. I used the 11th edition OG GMAT book and Kaplan book. If you have undisciplined studying habits (especially being out of school for a few years), sign up for a class. Unfortunately, my work schedule didnt allow me to sign up with any class but putting a simple study calendar helped me stay focused. I had only 3 weeks to prepare for the exam. This is the most unenjoyable, in fact down right boring, and unstimulating part of the application process.

Goals: It’s essential to know what you want to do with your life after MBA. Understanding what you are passionate about, what interests you have and how a MBA will help you get there will make the essay portion of the application process much much easier and, believe it or not, enjoyable. Before looking at a single application I started thinking about why I wanted a MBA. I had to answer the “why now” question. Can I pursue my professional and business interests without a MBA and how does a MBA help me align myself with my long term goals etc….Think about these things and it will make your life much more simpler when it comes down to tackling the essays.

Picking the schools: Before picking any particular school, think about what you want to get out of school. Do you want a large class or a smaller more intimate community feel; Is your focus/interests offered by the school; what kind of student body are you looking for (international vs. US), case based method vs. lecture vs. a mix of both, big city vs. small city, what student run activities/initiatives that might interest you….These are some of the things I had to think about that helped me narrow down my choices.

So, you’ve been working for a few years and you’re feeling the itch for an MBA. Now what’s next?

Most people like me will definitely find the prospect of returning to school (especially full-time) daunting. You might quail at the thought of undertaking such a drastic change, but I’ve come to realise that the first few steps are the most important, and with proper planning you can not only enhance your chances for success, you can also protect your downside…

Based on my own blinkered opinion of the process, here’re a few things you can start doing now:
1) Register at GMAC.org. Read up on the GMAT exam and take the diagnostic test. Taking the test early will be your first differentiator within the applicant pool. Since schools always look at your highest score, taking the GMAT by July will not only make the fireworks seem so much more cheerful, but also leave you with enough time to take it again… and again… and again, if need be.

2) Start thinking about your budget for the MBA application process. Budget not just your financial resources, but also the amount of time available to you. This is crucial because selecting too many schools can leave you with half-baked applications. It might not seem so bad now, but when you’re looking at deadlines within days of one another, the work will pile up awfully fast. (more…)

Technorati Tags: MBA, success, GMAT, Budget

Have you decided an MBA is right for you? If so, now it’s time to find the MBA program that meets your needs.

Spend some time thinking about what is important to you … Are you concerned about an MBA program’s location? placement rates? reputation? specialties? tuition? alumni network? teaching methods?

Once you know what you’re looking for, you now need to determine which schools best meet your needs. There are several resources that contain overviews MBA programs. For example, Business Week, Financial Times and US News & World Report all publish rankings and profiles of schools in their magazines and on their websites.

After you start developing a short list of schools, you should do as much research as possible on each school. An MBA is a big investment of time and money and you want to be sure you find the program that is right for you. (more…)