Does your GMAT score meet elite business school standards?
A recent Forbes article titled “America’s Best Business Schools” discussed the advantages of graduating from a top MBA program. There’s no doubt that earning an elite business degree increases your earning potential and broadens your career choices—so, what can you do to increase your chances of getting into a highly-ranked business school?
Earn top MBA credentials
According to Kaplan’s 2013 survey of admissions officers, the number one application killer for top MBA candidates is a low entrance exam score. The average GMAT score of matriculating students at the ten most elite U.S. business schools is 720—and the average acceptance rate at those schools is only 16%. Keep in mind that most of the people spending the money and taking the time to apply consider themselves competitive applicants, yet only one in six actually gets accepted.
So, even though a great GRE or GMAT score is essential to getting in, it’s clearly not enough to secure yourself a spot. Your GPA also plays a big role. MBA gatekeepers often set thresholds for GMAT scores and GPAs; if your numbers fall below a certain point, schools won’t even review the rest of your application. The sheer volume of applications means they have to draw the line somewhere.
The average GPA of those accepted to top-ten MBA programs in 2013 was just under 3.6, a figure that has remained steady over a five-year period. If you’re applying to B-school, chances are good that your GPA is already locked in. So, while it’s also important, it’s nonetheless a factor outside of your control.
Master the application process
Let’s go beyond the quantitative aspects of your application and talk about the ways in which those who receive that coveted “fat envelope” from top MBA programs separate themselves from the pack.
One great way to treat the entire application process is as though you’re a product and business schools are consumers. The admissions committee is out shopping for a couple hundred items and walks into a store with 2,000 on the shelf. How can you help ensure that you’re one of the goods that they take home?
- Application Essays: To write great application essays, you’ll need to be inventive and show the committee what makes you unique. What makes you different from other applicants? What do you bring to the table that others don’t? Know that business schools are looking to admit a diverse student body in which it’s possible to learn as much from one’s peers as from the professors. To foster great classroom interaction, programs want to attract students who have a breadth of different perspectives. Telling stories about your experiences, showcasing your passion, and demonstrating the value you might add to a classroom discussion goes a long way in setting yourself apart.
- Letters of Recommendation: Line up truly spectacular letters of recommendation. Remember, your relationship with the recommenders and how highly they speak of you is far more important than their titles. A CEO that you met twice at company events won’t be able to speak of you personally, whereas your department manager certainly will. You should never write your own letters of recommendation (even if your recommender asks you to do so), but you can certainly sit down with your recommender over coffee and provide them with your resume and a bulleted list of awesome accomplishments. Great reference letters don’t just speak of you in a vacuum: they’re comparative. For example, it’s far more impressive for a recommender to state, “Of all my employees, Stanley is the most proactive and has been the top performer for the last two years,” than “Stanley sold $600,000 of products last year.”
Set your sights on getting in
Speaking of being proactive, that’s our last tip for you: Take control of the application process. Treat every interaction you have with a school representative—from emails and phone calls to school visits—as part of your interview. Always be professional and prepared and take every opportunity to be remembered. Even if you don’t get an “official” interview, assume that everyone to whom you speak is taking notes and has influence with the admissions committee and that every person at that school is a potential advocate for you.
Applicants who get remembered (in a “that person asked good questions and is clearly taking her application seriously” way, not in a “that person just asked three questions that are clearly answered in our online FAQ” way) get in.
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