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12 Jul 2022, 04:28
Kudos
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Im 28m and have been working for 5 years in our family business. Ive taken more senior roles within the company but feel like I want to transfer into something else and figured an MBA is a great way to do that.
The problem is that Ive seen online that since family businesses dont require the same rigorous application process that say Google/GS do, MBA programs dont like that because youre lacking the pre-check that the highly selective companies wouldve done.
I was just wondering how frowned upon that is or if it might make more sense to apply to a Masters program.
My undergrad is a 2:1 from LSE, I have a 720 GMAT and the company revenue is around 100m Euros a year (if thats of any importance)
The problem is that Ive seen online that since family businesses dont require the same rigorous application process that say Google/GS do, MBA programs dont like that because youre lacking the pre-check that the highly selective companies wouldve done.
I was just wondering how frowned upon that is or if it might make more sense to apply to a Masters program.
My undergrad is a 2:1 from LSE, I have a 720 GMAT and the company revenue is around 100m Euros a year (if thats of any importance)
12 Jul 2022, 05:55
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KJohnsq
Im 28m and have been working for 5 years in our family business. Ive taken more senior roles within the company but feel like I want to transfer into something else and figured an MBA is a great way to do that.
The problem is that Ive seen online that since family businesses dont require the same rigorous application process that say Google/GS do, MBA programs dont like that because youre lacking the pre-check that the highly selective companies wouldve done.
I was just wondering how frowned upon that is or if it might make more sense to apply to a Masters program.
My undergrad is a 2:1 from LSE, I have a 720 GMAT and the company revenue is around 100m Euros a year (if thats of any importance)
The problem is that Ive seen online that since family businesses dont require the same rigorous application process that say Google/GS do, MBA programs dont like that because youre lacking the pre-check that the highly selective companies wouldve done.
I was just wondering how frowned upon that is or if it might make more sense to apply to a Masters program.
My undergrad is a 2:1 from LSE, I have a 720 GMAT and the company revenue is around 100m Euros a year (if thats of any importance)
Hello KJohnsq,
Thanks for writing in.
Experiences with family businesses can be tremendously value-adding provided you have done impactful work (which you seem to have) and can present the same in a compelling manner. Needless to say, your goals too need to be aligned accordingly. So, we do not think you should hesitate from applying to MBA programs that are in sync with what you want to eventually achieve.
Good luck!
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12 Jul 2022, 22:28
Kudos
Bookmarks
KJohnsq
Im 28m and have been working for 5 years in our family business. Ive taken more senior roles within the company but feel like I want to transfer into something else and figured an MBA is a great way to do that.
The problem is that Ive seen online that since family businesses dont require the same rigorous application process that say Google/GS do, MBA programs dont like that because youre lacking the pre-check that the highly selective companies wouldve done.
I was just wondering how frowned upon that is or if it might make more sense to apply to a Masters program.
My undergrad is a 2:1 from LSE, I have a 720 GMAT and the company revenue is around 100m Euros a year (if thats of any importance)
The problem is that Ive seen online that since family businesses dont require the same rigorous application process that say Google/GS do, MBA programs dont like that because youre lacking the pre-check that the highly selective companies wouldve done.
I was just wondering how frowned upon that is or if it might make more sense to apply to a Masters program.
My undergrad is a 2:1 from LSE, I have a 720 GMAT and the company revenue is around 100m Euros a year (if thats of any importance)
Hi KJohnsq hope this finds you well
The high impact on the family business can be sometimes difficult to corroborate. Think through the contributions you made to your family business and focus on key success metrics that you led single-handedly. Applicants who have experience in scaling a family business can bring unique perspectives in that they have experienced firsthand, the implications of decision-making with specific goals in mind. As the new generation in the family business, you could also argue your case with examples, citing your fresh and unconventional approach to doing business (as opposed to traditional norms followed by your senior family members) as your motivation for pursuing MBA/Masters. The experience of working in a family business brings immense learning and challenges that if showcased aptly in your application, would make you a strong contender for a place in the next academic cohort at your target school. Having supporting documents such as business deals that you managed, strong LORs from your business partner/vendor/clients, and accolades/recognition in tabloids and newspapers can put you in strong light. If you show a thorough understanding of the levers in business and a clear objective in the mid and long term, you should be able to get into a top-ranking MBA program.
If you want to move into mid-level or senior management corporate roles in the meantime, MBA would be a better option than a master's program given the established corporate pipelines via the MBA route. However, if you plan to return to the family business soon after, a management master's in strategy or business can be good and cost-effective options.
Best wishes
