Top MBA Programs

You need to understand that getting MBA degrees is no picnic.Getting through one of the top MBA programs and earning that coveted piece of sheepskin is one of the hardest things you will ever do in your entire life. It will be much more difficult than undergraduate school, and once you're out working, your new job will likely seem like a picnic compared to what it took to earn your MBA. Of course, the rewards will be worth it, but you will experience those rewards only if you choose the right program, get accepted, and graduate. So it's of paramount importance to have a step-by-step approach to acquiring an MBA degree.

First off, of course, you'll want to look at yourself and decide whether you really have the desire, ambition, and aptitude for MBA school, and if so, consider whether you also have the strengths and skills necessary to make the cut. This is where you'll also start to consider which kind of MBA program is right for you. Next, you'll want to think about how you see your career developing once you've gotten your degree. After this, you'll need to study for and take the GMAT exam, with the goal of getting the highest possible score. Finally, you'll settle on which schools and programs to apply to, and get the application process started.

Assess Your MBA Degree Strengths, Ambitions, Etc.

There are a great many things to consider and a number of factors to weigh and analyze at the very beginning of the process of thinking about getting an MBA degree. First and foremost, of course, are the questions of whether you are up to the challenge of MBA school and have the aptitudes necessary not only for MBA school, but also for a career that will revolve around what you learned there. There's no shame in admitting that MBA school doesn't really interest you or might not be your best option given your interests and aptitudes. Many people go to business school because of family or peer pressure, or because they feel it's expected of them, even though they have no real interest in it. Don't be one of them. Seeking an MBA when you have no interest in such a career, or you feel you're not up to the educational challenge, is a recipe for disaster, even if you win admission to one of the top MBA programs. Don't let anyone talk you into an MBA program if your heart isn't in it.

Once you've honestly decided that you're up to the challenge, and you have a real zeal for MBA school, it's time to get down to brass tacks. First off, you'll want to assess your strengths (and weaknesses), skills, and interests. How were your grades back in college? Straight As? If so, congratulations. If not, what can you do to make up for a less than stellar academic performance back then? Are your personal skills so great that you can make a very strong impression in the interview process? Can you call in some favors and get some movers and shakers to write letters of reference for you? Can you study hard and ace the GMAT? These are the kinds of questions to be asking yourself (and for which you should be writing down the answers).

Do not underestimate the importance of this critical stage of the preparation process. Getting an MBA degree starts with this very personal process of self-assessment. Get this part right and you will lay a solid foundation to build a very successful career upon, which will pay you dividends for years, even decades, to come. Get it wrong, and you can handicap both your education and your career, and the ramifications can last your entire career. So don't take this lightly at all. Before starting down the road to an MBA degree, take a very frank and personal self-assessment to give yourself the maximum odds of success.

Decide Your MBA Career Path

One of the really great things about MBA degrees is the abundance of options, choices, and opportunities it can lead to, especially for those who graduate from one of the top MBA programs. In a sense it's really not an exaggeration to say that having an MBA degree allows you to write your own ticket. More than any other academic degree, undergrad or graduate, the MBA bestows flexibility. There might be other professional schools whose students make more money right after graduating, such as medical schools, but those graduates won't have anywhere near as many options for an interesting and lucrative career.

This wide-open flexibility can also be something of a curse, though, if a person lacks focus on where he or she wants to go and what one wants to accomplish in a career. Don't let yourself become one of those people who are so overwhelmed by the choices and options they don't know which one to take. You can avoid this by going into MBA school with a career path already in mind. By knowing where you want to go once you've graduated from MBA school, you'll be able to focus better and excel at your studies by keeping your eyes on the prize. You'll also be better poised to pick the school and program that are right for your career goals.

So now is the time to dream and let your imagination run wild, not after you've graduated. Right now there are no limits, and you can imagine all kinds of career scenarios to choose from. Take your time and have fun! It's your life, and you'll want to spend it doing what would make you the happiest. Talk to people who are already in some of the careers you're thinking about. Ask them what a typical day is like, how hard it is to advance, how happy and fulfilled they are, etc. Then go online and read up. The World Wide Web is an amazing resource that most of us have come to take for granted. Take advantage of it and learn all you can about each and every career you're interested in. After a while, after reading enough and talking to enough people, you'll get a pretty good idea of what kind of career path would be right for you, and you'll be ready to leverage your MBA education to the maximum to make it happen.

Study for and Take the GMAT Test

If you want to earn an MBA degree, then you're going to have to overcome the major hurdle of the GMAT test. You'll not only have to pass it, you'll need to score as high as you possibly can in order to maximize your chances of being accepted to your preferred MBA program. It's easy to underestimate the difficulty of this, as many people labor under the delusion that one standardized test is pretty much like any other. These folks figure the SAT or the ACT weren't all that tough, so the GMAT won't be any big deal, either. It can't be stressed enough that this view is very, very wrong, and that these folks are in for a very rude surprise come exam day.

The GMAT exam is, in fact, quite a bit more difficult than either the ACT or the SAT. Although it's true that standardized tests do have some features in common, it doesn't necessarily follow that they are all quite similar in difficulty level. Many educational experts believe that the GMAT is just as difficult as other grad school admission tests such as the LSAT or the MCAT. The subject matter might differ, but the intellectual challenge is comparable. The GMAT takes around four hours to complete and involves writing two essays, as well as finishing two multiple-choice sections, which are Quantitative and Verbal.

It's strongly recommended that you take the GMAT test as early as possible (after putting in some serious study time). That's because in the event of a disappointing score, you'll want to have enough time left to go back and retake it in an attempt to get a higher score. Few other factors weigh as heavily on the admissions decision as your GMAT score (most sources say your score is THE most important factor), so you'll want to score as high as possible. This requires study and review. There are some very good GMAT study aids on the market, and you should take advantage of them. If you've already taken the GMAT once and your score was mediocre, it's imperative that you not attempt it again without making use of study aids. Don't waste all that time and effort when you're likely to do just as poorly if you don't prep, and prep hard. Your chances of getting into a good MBA program are riding on your GMAT score, so you'll want every advantage you can have on exam day.

Choose an MBA School and Program

The final step in the path to an MBA degree is choosing an MBA program. It would be more accurate to say that these are the final two steps, because what school is best for you is often an entirely different question than what program is best for you, although they are certainly related. It's also important to note that when we say, "Choose a school," we're talking about your top selection among many. For the vast majority of people, it's not a good idea to apply to only one school. Generally, it's best to apply to several and hope that you get into your first choice.

When choosing a school, there are several factors to consider. Money is often a big factor; studying at a highly regarded public institution can save you tens of thousands of dollars over the cost of tuition at one of America's top private schools. Geography is often another major consideration. This is especially true if you're hoping to qualify for state resident tuition at a particular school. Family and other relationships can also be part of the equation, and whether to stay close to your kith and kin, or spend a couple years far removed from them, is a very personal decision that only you can make.

What kind of is right for you? Again, that's a decision that in the end you will have to make for yourself, and your decision as to which is the best kind of program will certainly have some bearing on which schools are best for you to apply to. There is an ever-expanding number of different MBA degree programs being offered in the U.S., and that's all to the good, as you'll have many more options to choose from when picking the one that's best for you. Traditional two-year MBA program? Accelerated program? A weekend and evenings MBA program? How about an MBA distance learning program? Yes, they actually exist, and they're getting more popular every year. Of course, distance learning isn't for everyone, but it's nice to have that option. Do you want a more generalized program of study, or do you want an MBA that concentrates on a certain subject, such as finance, marketing, information technology, etc.? There's a lot to think about, so take your time when choosing the right MBA degree program and school for you.

Get an MBA Degree and Study Abroad

The opportunity for studying abroad is not only a great reason for earning MBA degrees, it's also a fantastic way of making yourself even more marketable when it comes to getting hired. Most MBAs don't have any trouble getting hired, of course, but a person with international experience is almost always going to receive more job offers offering better pay compared to recent MBA grads who didn't study abroad. On top of that, the experience of studying abroad is quite exciting and enlightening, and it's something you'll never forget for the rest of your life.

Choosing to spend part of the time in your MBA program on study abroad tells your future employers that you're inquisitive, appreciative of different cultures, and not afraid to take risks. These are all qualities that employers are thrilled to see in applicants. Your résumé is going to be a lot more impressive when it mentions the summer you spent in Paris, or the two-week seminar in Beijing, or the semester in Mexico City. Business these days is a global affair, with many corporations already operating in other countries, and with many of the ones who don't earnestly trying to figure out how to crack the foreign markets. In either case, a company will find your foreign study experience invaluable.

There are a multitude of study abroad programs to choose from in the world of MBA programs, and there's surely at least one that would suit you. Some are just a couple weeks in length, others are a semester or so, and there are even some programs where you'll spend an entire year or more studying abroad, and you'll receive an international MBA. It's important to check out a wide variety of MBA programs and their foreign study options before you start the application process. You'll want to compare all your options (and don't forget that some options will add significantly to the cost of obtaining your MBA), and this can take some time, because there are so many of them. (More are being added all the time, too.) Making study abroad part of your MBA degree program will be fun and exciting, and it will be another feather in your cap when you add it to your resume.