Why Business School?
Business schools typically offer a Master of Business Administration (MBA) or occasionally PhDs in business administration or management. A degree in business can be useful for people interested in areas such as finance, organizational behavior, entrepreneurship, accounting, or marketing. Depending on your career path, an MBA may be helpful in achieving your professional goals.
Prepare for Business School
Business schools are very interested in your previous work and leadership experience. In particular, it’s important to be able to articulate the impact you’ve made, how your experiences fit within your career narrative, and why business school will help you achieve our future goals.
When to Apply for Business School
While some schools, such as Harvard Business School and Stanford Graduate School of Business, have deferral programs for students who apply directly while they are still undergraduates, many schools expect two to five years of work experience prior to admission.
Once you have decided to apply to business school, it’s wise to be prepared to submit your materials for the first round deadline. Applications for MBA programs typically have three rounds, with more favorable acceptance rates in round one and less favorable acceptance numbers in round three.
Research and Select Business Schools
Career opportunities are also important to think about. See what resources schools have by checking for high volume on-campus recruiting, job banks, alumni network, and robustness of the career center. Many business schools have strong ties to particular industries. This can mean better networking opportunities with both alumni and your current cohort of students.
Take the GMAT or GRE
Traditionally, applicants must take and submit their score for the GMAT, but more and more schools are now accepting the GRE. Check the schools you’re interested in to see which scores they accept before you begin preparing for the test. Both tests offer official prep books that include full-length practice tests pulled from older exams. Many students have found taking practice tests to be the most helpful method of preparation for standardized testing.