Articles

MBA Schools Broaden Admission Criteria

2009-10-08

Reasons for getting an MBA will vary. Some want to explore better career options, while some are simply responding to occupational requirements or personal circumstances. All of these elements, however, substantiate why getting an MBA makes sense.

But of course, there is not one correct answer that will appeal to all interested applicants. Different factors and scenarios interplay and MBA pros and cons must be considered before taking any further steps.

Some advantages include: one can earn more money by getting an MBA (as compared to those with less education), gain self-satisfaction from being capable of earning a higher educational degree, earn the recognition as an MBA student, build a stronger resume that can be recognized globally, enhance strategic thinking and exercise managerial potential, expand job opportunities, and increase network of contacts.

There are a few disadvantages as well. Some of them include: MBA being too costly, MBA graduates may be deemed as "too expensive" by small hiring companies, and the time spent on getting the MBA might not be equivalent to years of real work experience to some employers.

But, if certain that an MBA will help achieve one's desire for further learning and career enhancement, then by all means apply. Do research, review, and prepare well for the application process. John Evans, who for several years has conducted seminars to assist applicants get into top MBA programs, has gathered a list of what he says are the seven main elements of one's candidacy for an MBA.

The GMAT score tops the list. Evans says that if one's GMAT score is within a school's median of the 80 percent range, then one has a reasonable chance of being admitted.

According to a recent BusinessWeek article, some schools are now accepting GRE in lieu of the GMAT, including Harvard. It is also being anticipated that beginning this year, there will be a rapid increase of other business schools accepting the GRE. In a way, this broadens the criteria for MBA admission. Some schools may even, on a case-by-case basis, allow younger applicants to submit their college GRE test scores for admission.

Other criteria from Evans' list include

• Application essays - Make yourself stand out by highlighting your unique experiences from work and personal life.
• Timing - Apply in the first round. If you delay your application, then you'll have to compete for fewer open spots.
• GPA - Although not as important as the GMAT score, the GPA will help young applicants with little employment experience.
• Work experience, recommendation letters, and interviews - Each of these factors contributes to a successful application process.