The MBA has become a top-rated degree for the modern-day professional on the move. According to data collected by popular MBA site Poets & Quants, over 57,000 individuals applied to top 10 business schools in 2017, an increase of over 9% over the last five years. An MBA is the spice that can add flavor to your career, the perfect ingredient for career enhancers and career switchers who are seeking to get a leg up on their career.
Four Tips to Get You Closer to an MBA
Don’t try to be an MBA all-star on your own. The best performers in any industry have a team of other individuals who are there to provide resources, coaching, and motivation to keep them going. There are many pre-MBA programs that are committed to helping you win during the application process and beyond. Check out Management Leadership for Tomorrow (MLT), Forte, and the Consortium to get a head start on the MBA process and connect with individuals who know what it takes to get a seat in the room of your dream school.
Ace the GMAT
There’s no substitute for test-taking dominance. Your fancy degrees, certifications, and leadership aren’t enough to grab the intention of MBA recruiters. You have to take the GMAT seriously and do whatever it takes to earn a competitive score. To get a better understanding of the GMAT score you should strive for, take a look at the average GMAT score of students who were admitted to your dream school the previous year. Then make sure you exceed that score by working with the best tutors or self-study programs. Conquering the GMAT exam will open up doors that may lead to more than an acceptance letter. You’ll get the financial rewards of scholarship money that only goes to a select group of students in each MBA program.
Create Compelling Essays
If two candidates have the same GMAT score and impressive work experience, your essay can be the deciding factor that gets you an admission ticket. That’s why it’s important to be thoughtful about the flow and meaning behind what you write. Your business school essays shouldn’t be written in the same tone as your professional work emails or nightly journal entries; it should give the reader a peek into your personality and show them why you are a perfect fit for your school of choice. Your essays should clearly articulate why you do the things you do and why you want an MBA. Your essay presents the story behind the quantitative results that are so eloquently displayed on your resume.
Get Your Money Right
Don’t wait until you get accepted into business school to start thinking about your financial situation. Start thinking about it now and do whatever it takes to increase your net worth.
During the pre-MBA process, you’ll have the opportunity to visit schools and attend conferences that give you access to admissions officers. You don’t want to miss these opportunities because of financial barriers. Take the time to write down all of your assets and liabilities. Then consider ways that you can accumulate more assets so you won’t have to worry about money during the MBA prep process or while you are in school. Learning how to invest will enable you to create new sources of income without any additional effort, giving you more time to focus on your MBA ambitions.