Although quantifying a school’s profile certainly does not tell you everything, it can sometimes be helpful in simplifying the many differences between the various MBA programs. We recently surveyed a number of visitors to our site to get a feel for the concerns, plans, and mind-sets of this season’s MBA applicants. The results are in, and for those who are curious about their fellow applicants’ views on business school, here is some of the collected data.
A common question business school candidates encounter both in their personal lives and as part of the application process is essentially “Why do you want an MBA?” So we naturally included this query in our informal survey of site visitors earlier this year.
The majority of respondents—43.6%—said they planned to attend business school to change their career path. This seemed generally in line with what we saw last season, when we asked candidates … Read full post
From bargaining for scholarships and the increasing tuition of MBAs at America’s top business schools, to an inspiring rags-to-riches story and bizarre PayPal policies, there’s a lot to share. Let’s dig into this week’s MBA news!
What you don’t know can cost you
One of the biggest misconceptions about going for your MBA is that there is little scholarship money or financial aid, beyond loans, to be had to help you offset your MBA cost. That’s a VERY expensive misconception. The reality is that, depending on your needs and merits, business schools have plenty of scholarship money to award to high-achieving students. Ever seen their endowment figures?
Our advice to prospective students applying to those top business schools: package yourself the best you can and learn the art of the bargain. Be respectful and proactive when it comes to financial aid. The worst they can say is no. (Poets … Read full post
One of the questions many GMAT students ask is “why do we have to take this [insert colorful word] test anyway?” There is despair and frustration evident in the question—I want to be a management consultant, for heaven’s sake, why am I studying exponents?
While I believed very strongly that the admissions tests were indeed relevant and always said so, I lacked the real-world business school examples to back up my claims. Until now.
GMAT Skills Are Relevant
After less than a semester of business school, knowledge of the following GMAT (and GRE) topics have already proven indispensable to my success:
1) Fractions: Oh yes, it’s third-grade math back to haunt you! Specific example? In Accounting, we study various financial ratios that determine the health of the business. For instance, the current ratio, a measure of solvency, is calculated by dividing current assets by current liabilities. A question … Read full post
With MBA interview invitations continuing to arrive this time of year, we thought now would be an appropriate time to discuss some challenging interview situations. Most business school interviews are straightforward opportunities for an interviewer to learn more about a candidate’s personal and professional backgrounds, goals, reasons for selecting a specific school, and leadership/team experiences, yet interviews can vary dramatically from school to school and sometimes include a few peculiarities. So, what constitutes a “tough” interview, and how can you best navigate one?
Stoic interviewer: Some interviewers can be unemotional, refusing to give you any indication as to whether you are making a positive impression or not. And amid the intense pressure of an interview, you may perceive this lack of clear positive response as a sign of actual disapproval. The key in managing such a situation is to tune out the interviewer’s lack of emotion. Focus on your answers … Read full post
The price tag of an MBA and the rising debt of newly-minted business school graduates could make anyone stop and second guess their plans to return to business school, leaving them wondering, Is an MBA worth it? It’s important, however, to consider the cost of business school an investment—it’s certainly what the top MBA programs do, emphasizing the “investment” factor over the price of tuition. Frankly, we agree.
While you can’t ignore the $42,000 in debt that the average MBA grad accumulates, you can weigh that initial investment against future earnings and career trajectory to make an informed decision about how the return on investment (ROI) of an MBA figures into your future. Here are some things to consider about the ROI of an MBA that will help you answer the question, Is an MBA worth it?
The ROI of a top-10 MBA program
From Duke and Yale University’s new spots in MBA rankings and which MBA programs have produced the most billionaires, to programs geared toward women MBAs, lucrative compensation packages, and—everybody’s favorite—infographics, let’s dig into the latest in business school news.
Who’s rising in MBA rankings?
While Duke University’s Fuqua School of Business is basking in the glow of capturing top billing in last week’s new Bloomberg BusinessWeek MBA rankings, the biggest winners on the 2014 list are the near-dozen other MBA programs who made big strides.
The most noteworthy improvement belongs to Yale University’s School of Management, which jumped 15 spots to sixth place—its highest spot ever in any of the major (and many) rankings. (Poets & Quants)
Want to be a billionaire?
You’re in good company among the MBA crowd. Check out this list of MBA programs that have produced the most billionaires. None of the contenders will … Read full post
Although quantifying a school’s profile certainly does not tell you everything, it can sometimes be helpful in simplifying the many differences between the various MBA programs. We recently surveyed a number of visitors to our site to get a feel for the concerns, plans, and mind-sets of this season’s MBA applicants. Now the results are in, and for those who are curious about their fellow applicants’ views on business school, here is some of the collected data.
This year, we asked MBA hopefuls what was most important to them when choosing a business school to attend. Well over one-half of our survey respondents (56.4%) cited “reputation/ranking” as their primary criteria for MBA program selection, while “professors/academic resources” and “recruiters/corporate connections” tied for a distant second place, with 15.4% of the votes each. Trailing the list of school factors under consideration were “location,” “alumni base,” and “cost/tuition”—which received just 5.1%, … Read full post
If there’s one thing future MBAs are likely to understand, it’s the value of a good investment. Even though figuring out how to pay for an MBA can present a challenge, business school applicants may be uniquely qualified to find ways—in the form of both loans and MBA scholarships—to cover their tuition. Just ask the 43% of MBAs who have managed to offset the average $42K of MBA debt and graduate with no student debt at all.
In addition to MBA scholarships, there are multiple sources that business school applicants can look into for funding a graduate degree: Federal Perkins and Stafford Loans, private loans, personal savings, and family or parental support. The challenge with loans, of course, is that you have to pay them back, and money out of pocket is far from desirable.
Scholarships, on the other hand, are like a financial high-five for being awesome…. Read full post
Have you ever asked your boss for a raise? This isn’t a conversation most of us relish, so, all too often, we put it off, hoping our bosses will just notice all the amazing things we do and eagerly reward us when we obliquely bring up the uncomfortable topic of earning more money.
Asking your employer to provide MBA tuition reimbursement is not unlike asking for a raise, and you have similarly low chances of success if you apply the evasive strategy above.
Getting your employer to pay for your MBA requires that you make a compelling case to convince him or her of your value to the company, and the value of that future degree in your hands.
So, how can you make your case to your boss to pay for your MBA?
1. Know your company
Check out some of the latest MBA news from media outlets across the world. From changes in the business school applicant pool due to current economic trends to a sacked socialist government official heading back to business school, as well as soon-to-be-updated U.S. News and World Report rankings for MBA programs, there’s a lot to share!
- Newly minted MBAs from Stanford’s Graduate School of Business made finance the industry of choice once again this year. Why? Money. And lots of it. Think incredibly lucrative compensation packages. Nearly 30% of 2014 Stanford Graduate School graduates accepted job offers in finance, up from about a 25% last year. Forget those who say finance is out of favor in MBA programs—it’s still very much a top choice. (Quartz)
- Changes in the economy and culture have transformed the makeup of the business school applicant pool. Knowing these trends can help you craft