Earning an MBA could mean substantially boosting your earning power and lowering your risk of unemployment. MBA graduates typically see pay rises of 50 percent over their pre-business-school salaries, and five years after graduation, they’re typically earning about 80 percent more than those already-higher post-graduation salaries. In 2016, 88 percent of students graduating from a ranked business school found a job within three months of graduation.
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This summer at mba.com, the GMAC released new raw scores to percentile guidance based on nearly 800,000 tests administered from 2014-2017. In the newly released time-period, the average overall score out of 800 has risen by more than 4 points to slightly above 556 from just below 552 for the previous period of 2013-2015. Interestingly, this increase can be almost entirely attributed to improvements in the Quantitative section. For the reporting period ending in 2015, the average GMAT Quantitative raw score was 38.91. In this newly reported data, that score has risen by almost a full ½ point to 39.4. Concurrently, the GMAT Verbal average score improved, too, but only at a factor of about one-tenth that of the quantitative improvement – from 26.8 to 26.86.
Tags: GMAT, MBA programs, MBA Admissions, mba tutors, mba study skills, mba study help, gmat test prep
The MBA applicant file was thick, with transcripts, recommendations, all sorts of testing metrics, alumni interview reports, essays, work portfolio, and even a video. The grades, numbers, work experience and personal narratives were superb. However at the bottom of the Director’s decision sheet clipped to the file folder were the letters NCR. In the decision column, the letter “Z” was scrawled, code for application rejected.
Tags: GMAT, MBA programs, MBA Admissions, mba tutors, mba study skills, mba study help, gmat test prep, mba admisions consulting
Applying to business school is an extremely competitive process. Top schools such as Harvard Business School, Stanford Graduate School of Business, and Wharton hold applicants to high standards, so putting together a good application is key.
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You’ve done your research on MBA programs, and have resigned yourself to the fact that you’ll have to spend $50-$100k for your MBA. Right? Not so fast. Let me introduce you to the one top 20 business school, my alma mater, that pays you to attend through a working fellowship.
Read MoreTags: GMAT, MBA programs, part-time MBA, full-time MBA, college tuition, MBA Admissions
Applying to business schools is a daunting exercise. For many of you, this may be the first time you come in contact with extreme competition. By the time you are contemplating business school, you will have already been successful in your career – graduated from high school with stellar grades, landed in a top-tier undergrad program, and got the highest paying jobs out of college! However, in most cases, you were the big fish in a small pond compared to what you are going to encounter while applying and studying in business school (think Lake Michigan vs. Pacific Ocean). Many of you will experience failure for the first time as in not getting into your top choice school - in no way this is a reflection of your capabilities, but is purely a numbers game – the total openings in all elite schools combined is miniscule compared to the number of applicants!
This is the first in a series of articles where we will de-mystify the entire application process and share with you the tools that will enable you to succeed. The same tools will help you succeed during business school and also your career!
First, let’s distill what we mean by the APPLICATION PROCESS. Is’nt it just taking the GMAT, filling out a few forms, writing a few essays and voila!... you get admitted to Harvard? You could not be more wrong!!
It all starts with understanding what you want to do in your career, what critical skills gap that you currently have, which school will help you bridge that gap, and how do you successfully get into that school. While most of us (including yours truly) focus on how to successfully get into a school, we do not pay enough attention to the other aspects which strangely enough is the “magic” that helps you land in the right school.
So, in other words, the APPLICATION PROCESS broadly has the following steps:
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Introspection and truthful self-assessment
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Identify your “personal narrative”
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Identifying and selecting the school(s)
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Preparing the application package (GMAT, essays, etc.)
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Finalizing the school to attend (for all the lucky ones who will have multiple admissions)
In a perfect world, going through the above steps will help you get into a right school. But, we need to be pragmatic and smart about b-schools. After all, we do not have all the time in the world and need to move on with life. We will be sharing with you here on how to achieve your goals without compromising on the integrity of the above approachWith regards to planning and timing, you will need to start approximately 2 years in advance to the start of the school term. i.e., if you need to start your MBA in August 2014, you should begin your self assessment and school selection (steps a & b) by mid 2012! You will be taking the GMAT in early 2013 and begin preparing the application packages to submit by late 2013. It is a long drawn out process!!
In future posts, we will dive into each of the five steps discussed above.
To listen to MyGuru's podcasts on the MBA school admissions process, visit MyGuru's Podbean Podcast site on the MBA School admissions process.
Good luck!
Tags: GMAT Blog, MBA Admissions
