4 things you should do immediately after your GMAT to prepare for MBA admissions
If you are done with your GMAT , you have only got one part of the application process out of your way. In this blog we talk about some MBA preparation basics- what you should do before diving into the nitty gritties of the application process. Without further delay here are the top 4 things you should do right now to kickstart your MBA application process.
Number 1: Apply for Transcripts
All schools need to see your transcripts be it during the initial application process or once you have been admitted. These transcripts need to be sealed and stamped by your undergrad school and it is desirable that they send it directly to the B-School.
The whole process from application for transcripts to getting the sealed envelopes may take time. So do this right away and strike them off from your task list. Then concentrate on the rest of the applications.
Number 2: Get your resume in placeAll schools need you to submit your resume , in some form or the other. Start working on your resume. Your resume should be a good mix of your academic, professional and extracurricular activities. If required get professional help to get the resume in place. A lot of schools specifically ask for a 1 page resume, so try to keep the resume contained in a single page.
Number 3: Identify and talk with recommenders.Almost all schools will ask for at least one recommendation(lot of schools ask for two). So its important to figure out who your recommenders will be. In most cases at least one recommender should be from your workplace , someone who has supervised your directly.
So figure out who you will ask to be your recommender. The moment you have shortlisted schools you want to apply to, have a brief chat with your recommender about your plans. Inform her the schools you are applying to and the corresponding recommendation questions.
Sit down and prepare a list of your professional achievements while working with your recommender and your strengths that helped you do that. Also mention what you feel are your professional weaknesses. When you are having the initial discussion with your supervisor about the recommendations, happen to mention casually about this list. Something like…
“Oh! and by the way I have prepared a list of my achievements while working with you. If you feel something like that might be of any help I would be happy to send it over to you.”
99% of the time the answer will be an “Yes”.
Recommenders are busy people, so give them sufficient time to draft and send their recommendations. You will also need repeated follow ups. So do this step early so that THEY do not miss the deadlines.
Number 4: Start researching on schoolsOf-course you will start researching schools, what are we saying!!!
However this still made it to the list because its important and time consuming. So the earlier you start doing it the better chances you have of not rushing your choices and having enough time to deliberate on the ones that fit your requirements.
There are several criteria on which to base your selection, most important being location, duration of the course, quality of faculty, curriculum , industry focus and program cost.
Most of you will already be working when applying for MBA. Enrolling in an MBA program will cost you not only in terms of Tuition fees and other program related cost but there is also an opportunity cost of losing your salary during the duration of your program. This is why many schools like INSEAD , ISB , Cambridge, Oxford offer accelerated one year MBA so that experienced professionals can complete the traditional two year course in a shorter duration.
There are also Executive MBA programs for those who want to pursue an MBA along with a job.
Two year MBA on the other hand gives you time to do internships and gain experience in the industry of your choice. So if you are planning to make a career shift or gain insight into a particular role or domain this may be a good choice for you.
You should have a fairly good idea what you want to do after your MBA. Choose your schools focussing on the the industry/domain of your choice.While the gist of the course taught will be more or less same in all the B-Schools, certain schools will have a strong faculty in a particular subject or they have a strong connect to a particular industry. For example, London Business School is known for its strength in finance and its proximity to London (a financial hub) and so is NYU Stern and Columbia school of business, just to name a few. So if you want to pursue a career in finance you may want to choose one of these schools or other similar ones.For entrepreneurship, while Stanford is the kind of mecca for those wanting to startup , did you know that Babson is also pretty well known for its focus on entrepreneurship?
If you have some idea about what you want to do after your MBA, you would also know what kind of companies recruit for such roles. Study recruitment patterns of the schools (most schools release placement statistics) and find out about companies recruiting from these schools and use this as one of the measures in your decision making.
If you are interested in entrepreneurship , look at the incubation centers, entrepreneur programs the schools have. Find out about startups that have recruited from these schools. Sometimes the placement statistics mention percentage of students who sat out of placements , that is a fairly good indication of the number opting for starting up on their own.
You can do Numbers 1 and 2 even before you have selected your target schools.