Kaplan annual survey of admissions officers from business schools, graduate schools, law schools, medical schools, and colleges across the nation is in, and we’ve got the newly released findings about the trends and practices that will help you navigate business school admissions and get into those elite MBA programs. The hot topic of 2014’s survey, reflecting trends that will continue into 2015? Business schools slashing the number of application essays they require, or the word count therein.
While it’s true that some of the most competitive programs like Harvard, Stanford, Yale, and Wharton have instituted some version of the application essay slash, Kaplan’s research has found that the practice might not live up to the popularity its high-profile frontrunners have bestowed upon it. Only 13% of the more than 200 business schools that participated in our survey say they have cut the number of essays or words … Read full post
From a possible silver lining for third-round MBA applicants, to how Chinese proverbs may identify problems in U.S. MBA education, to bragging rights about startups, here’s the latest in MBA news from media outlets around the world.
Third-round may no longer mean third-rate
The conventional wisdom about applying to business school has long been that the early bird catches the worm, but is it time to rethink that idea? Applying third round used to send a not-so-subtle message that you may be, well, a procrastinator, and it’s also been said that third-round applicants are at a distinct disadvantage to those who apply earlier since most spots—and scholarships—are already gone by that point. (Poets & Quants) However, some business school admissions officers are saying that third-round applicants these days are unconventional but appealing. (The Wall Street Journal)
There’s a new ranking category in town
It’s no secret … Read full post
When it comes to choosing a business school, the majority of people (56.4%) cite ranking and reputation as the most important factors in selecting their MBA program or specialized masters. While you may be familiar with the top MBA programs in America, at schools like Yale, Harvard, Princeton, Stanford, Wharton, and MIT, you shouldn’t discount some of the high-ranking schools that Europe has to offer.
Why choose a European MBA program?
There are many reasons you might opt to study in Europe over the US. Not only would you get the opportunity to experience a whole new culture, but 29 of the top 100 MBA universities are located in Europe, according to The Financial Times Global MBA Ranking 2014 List. Also, with state-of-the-art technology and facilities and great scholarship and funding opportunities, European universities tend to offer a good value for your money—and therefore a good ROI, or … Read full post
When is the last time you were faced with the (possibly debilitating) question, “Where do you see yourself in five years?” Was it at a job interview? A discussion with mom and dad about your academic or professional future? If you’ve ever had to answer this question in a high-pressure situation or when you were unprepared, you know how nerve-racking it can be.
But think about it this way: putting careful consideration behind this “where will you be in five years” question can actually help you eliminate anxiety when choosing the best business school program for you. It can help you narrow down the list of MBA programs you plan to apply to, and, as interviews approach, get an advantage over the competition.
Choosing the right MBA program for your needs can be challenging. How do you identify the best one for your specific personal, educational, and professional goals? Get help choosing the right business school with our MBA class profile infographic.
An important element of your business school experience will be your fellow students—the other aspiring MBAs with whom you will be living and studying every day. Using Class of 2016 profile statistics from the top ten U.S. programs (according to U.S. News & World Report 2015), we at mbaMission have created this infographic to help show how the different programs compare. Enjoy!
From a possible comeback for an MBA-starved Wall Street to the vocal disapproval of one Harvard Business School student, as well as the announcement of the top MBA program in Europe, let’s dig in to recent MBA news!
For decades, MBA graduates of a certain caliber had only Wall Street in their sights. The idea of starting their post-graduate careers anywhere else was simply anathema. Increasingly, however, the financial district of lower Manhattan is losing its luster—something that probably dates back to the economic crisis of 2008. Even though Wall Street itself has recovered magnificently, it’s no longer attracting young MBA blood in droves—a damaged reputation and flat salaries took care of that. But is a comeback ahead? (Poets & Quants)
At Kaplan Test Prep, we talk to future MBAs every day, so the GMAT is a hot topic of conversation. Those conversations come with their share of myths that are just begging to be busted. So, to celebrate the beginning of 2015, we’re also counting down the top 10 GMAT myths … and then debunking them!
10. GMAT math is really tough.
False. GMAT math is deceptively simple—high-school-level simple. The GMAT assumes that you have mastered those basic concepts, and it challenges you to a mental duel based on them that requires critical thinking and a strategic approach.
9. I can always pull out my trusty calculator!
Sorry, but you can’t. Other than on the Integrated Reasoning section, there are no calculators allowed on the GMAT. The bad news: if you’re uncomfortable with mental arithmetic, you will struggle. The good news: no calculator means that the GMAT will only … Read full post
Thinking about taking the GMAT and applying to business school? Your head is probably spinning with the possibilities of what you might study, which school you might select (and which one might select you), and the steps you will need to take to earn your business degree.
Before you get too deep into the process, however, you should ask yourself: Why business school? Is an MBA right for me? Oh, sure, you should think about this for crafting the personal statement on your business school application, but it’s also important to consider in terms of your own long-term career goals and self-reflection. Being confident in your choices and motivated in your life’s direction can help inform your path to business school success.
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