6.6 percent, 10.6 percent, 12.6 percent. Those are the acceptance rates at Stanford, Columbia, and Wharton, of course, and if you're a prospective MBA student, you probably know them by heart. With numbers like these, getting into business school is difficult for even the most qualified applicants, and there is no magic formula that guarantees you'll be accepted. Still, even the top schools have to admit someone, and it might as well be you.
So what does it take to stand out? In a word, knowledge. Know yourself: Be able to identify your strengths and weaknesses. Know why you want to get an MBA and what you plan to do with it. Know the school you're applying to, how it can help you achieve your goals, and where you stand with regard to the rest of the applicant pool. Last, know the process. Understand how you can maximize your chances of landing in the accept pile. Fortunately, we can help you figure some of this out. Just read on.
The Application
Undergraduate grades: Schools are going to pay particular attention to your performance in quantitative courses like calculus, statistics, accounting, and economics -- especially if you majored in a nonquantitative field like English or philosophy. The overall difficulty of your course load and the school's reputation will also likely be factored in. Unfortunately, you can't go back and change your transcript, so what can you do to overcome a less-than-stellar college career? Strong GMATs and solid work experience might be enough, but your essays are powerful tools here. Use them to discuss circumstances that might have affected your GPA -- perhaps you had to work your way through school, experienced a personal tragedy (steer clear of whining here, just talk about how the experience changed you), or were just young and too focused on having a great time instead of on academics. Whatever the reason, a well-thought-out essay discussing what you learned from the experience can work wonders.
GMAT: These scores are rarely the sole determining factor for admission, but don't take them too lightly, either. At top schools, you'll be competing against people with very high scores, and many of them won't get in. So it pays to make sure that you can hold your own. Aim to get a GMAT score within 50 points of a school's average; if your score is lower, consider retaking the test. Schools don't generally notice or care how often you take the test -- they only see the three most recent scores. However, unless there are extenuating circumstances, you aren't likely to raise your score much from test to test, though prep courses can help a lot.
Work experience: In the 1980s, over half of MBA students had just two years of work experience or less. Now the vast majority of applicants have worked for at least four or five years. What admissions committees are looking for here is evidence that you've made progress in your career, taken on increasing responsibility, and demonstrated leadership. Strong communications skills and a proven ability to work well in groups are also important. Highlight these experiences throughout your application.
Recommendations: Almost every school will want to see one recommendation from your current supervisor. If that's not possible for whatever reason, one from a former supervisor is also acceptable. Choose your recommenders carefully -- a big name won't help you as much as a thoughtful, positive letter from someone who knows your work well. The kiss of death is a recommendation where the person just checks off the boxes and doesn't make any personal comments, so make sure to give your recommenders enough time to do a thorough job. Give them a copy of your application and résumé and brief them on how you believe that you can best contribute to your particular school. The more informed they are about the school and your application as a whole, the better the recommendation will be. A little-known tip: If given the option to provide an additional recommendation, think twice. Unless the recommender can really add something to your application, an additional rec can hurt you more than it can help you.
Essays: In the essays, you must clearly articulate your career goals, your potential for success in high-level management, and your ability to handle the academic challenges of the institution. Only your essays can convey the important facets of your work experience and the attractive aspects of your personality. Without nailing the essays, no matter how high your GMAT score is or how high your college GPA is, you will never be admitted to a top business school. More so than with undergraduate admissions, business schools absolutely require that you clearly demonstrate your ambition, confidence, maturity, passion, creativity, and career-focus. You can only communicate these qualities through your essays.
The Aftermath
Your applications have been sent, so now what? You may be asked to come in for an interview, or you might request one, but be sure to research each school's policy. Some schools conduct interviews by invitation only, some will let anyone who wishes schedule an interview, and some don't interview at all. At invitation-only schools, it's generally a good sign if you are asked to interview, but again, know the school's policy. Some schools interview all candidates who are under serious consideration, while others use the interview to make a call on a borderline application.
Your interview might be on campus, or with an alum or campus representative in your area. In either case, unless you're told otherwise, dress professionally and treat it as you would a job interview: arrive promptly, don't talk negatively about your boss or your coworkers, and make sure that you are prepared to talk about why you want an MBA, why that particular school is the one you want to attend, and what you can offer.
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