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
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
If you think MBAs and nonprofits are about as compatible as oil and water, think again.
Yes, finance and consulting industries lead the top-10 industry preferences for recent MBAs, but nonprofits and social enterprises squarely make the list.
Getting an MBA does not cut you off from a lifetime of social consciousness—far from it. MBAs can contribute volumes to the successful operation of a nonprofit. Still, the nonprofit world faces some challenges attracting MBAs, as many shy away from social enterprise due to (legitimate) concerns about lower earnings, especially when you consider the post-MBA educational debt that faces most business school grads.
While this is a valid concern, some of the stereotypes about MBAs in the nonprofit sector are no more than fallacies. You can successfully apply your MBA degree and your business school skills to the world of social activism. Read on as we help bust a … Read full post
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
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.
As part of our informal survey this year, we posed the question “Which business school ranking/survey do you trust the most?”
Given that Bloomberg Businessweek has long been considered by many the premier MBA ranking, we were quite surprised to see that only 5.1% of responders picked it as their most trusted source. Instead, a whopping 46.1% indicated that they view the U.S. News & World Report survey as the most trustworthy, while the Poets & Quants aggregate received the next greatest percentage of the votes, with 33.3%. With just 10.2% and 5.1% of responses, respectively, the Financial Times … Read full post
The latest in MBA news: From a steady rise in business schools that accept GRE scores instead of GMAT scores, to the top MBA programs that will prime you for the big bucks, here’s this week’s MBA news and headlines, helping you navigate the business school application process.
GRE or GMAT?
Acceptance of the GRE as an alternative to the GMAT among American business schools has reached an all time high, according to Kaplan Test Prep’s 2014 survey of business school admissions officers.
The survey shows that 85% of MBA programs now give students the option of submitting GRE scores (historically the admissions exam for non-business graduate programs) instead of GMAT scores. This percentage has steadily increased every year since Kaplan first began tracking the issue in 2009, when just a quarter of b-schools reported accepting the GRE as an alternative.
The caveat: Only a trickle of MBA applicants are … Read full post
It probably doesn’t surprise you to hear that MBA admissions are competitive. However, it may surprise you to hear just how competitive they have recently become.
Business schools are reporting a spike in MBA applications, and that means more people fighting over a handful of spots. The top 25 business schools in the United States admit only around 25% of their applicants, with the most selective business schools’ acceptance rates hovering closer to 10%.
With that said, let’s talk about standing out. You’re in the process of checking off the requirements on your MBA application checklist, but you know you can’t settle for what’s merely required. How are you going to make your application stand out to the top MBA programs of your dreams?
Here is your checklist to becoming a competitive MBA applicant:
Research, research, research
To be competitive, you have to make a case for why … Read full post