The world over an MBA has become the degree if you want a good launching pad for your career or fast track it. The main reason for this is that employers believe and so do a lot of other people that an MBA has the knowhow and skills for managing a business and strong leadership necessary to strengthen the organization as it negotiates the competition and change in its business environment. Needless to mention, along with these beliefs comes a position and a fat pay cheque which is several notches above what you can get with the same number of years in experience and any other qualification. To top it all, the number of MBAs in the world are far lesser that the demand for them.
According to a recent survey by the Graduate Management Admission Council (GMAC), demand for MBA programs is on the rise irrespective of the design and delivery models of the program. In the survey, which polled 549 business school admissions officers worldwide, 43% of respondents said they expect to see an increase in applications to online MBA programs, while 42% expect a rise in applications to part-time MBA programs, over one-third (34%) expect an increase in applications to full-time, on-campus MBA programs.
Coming to the US, an interesting fact that has come to notice is that the number of MBA students in the US far outstrips the rest of the world. According to a report from the AACSB (the Association to Advance Collegiate Schools of Business), the primary accreditor of business schools worldwide, 250,389 students were studying for an MBA across the world during the 2020-2021 academic year and a majority of those students – 155,996 – were studying for their MBA in the US. As a result, getting an admission into the US business schools for MBA is intensely competitive.
But even then, lots of Indian students want to do their MBA from the US. The main reason for this is that a number of US business schools are ranked among the top ones worldwide. Some of them such as Stanford Graduate School of Business, Harvard Business School, Kellogg at the Northwestern University; Wharton at the University of Pennsylvania; Sloan at the Massachusetts Institute of Technology (MIT); Columbia Business School; Haas at the University of California, Berkeley; Fuqua at the Duke University and Booth at the University of Chicago are among the top choices of students across the world. Hence, earning an MBA from such B-schools of repute makes one stand out from the crowd. Other than that, across the US B-schools there is a choice of over 50 MBA specializations that are recognized globally. This enhances the career prospects of the students. Add to that industry exposure that comes from studying in an advanced economy and a multicultural educational environment, both add significant value when students go in for a job.
So, how does one go about applying for an admission to an MBA program. There are a number of MBA programs in the US e.g., Full Time, Part Time, Executive, Online etc. but for this post, we will confine ourselves to the full time MBA. Intakes to a full time MBA program happens twice a year mostly, in Fall and in Spring. Some B-schools also have a summer intake as well. Fall semester starts in September and ends in December; Spring semester starts in January and ends in May, and the summer semester starts in June and ends in August. The deadlines for each intake are usually a few months before the start date hence, it is recommended to apply early. The ideal time to begin applications is 9-12 months prior to the intake. B-Schools/Universities generally take about 8-10 weeks to process the applications.
Eligibility
To get admission in an MBA program, the student has to fulfil the following requirements:
- Years of Education: He or she must have completed 16 years of study. This means he/she must have completed a four-year bachelor’s degree program from a recognized Indian university. While this is all right as far as students doing courses such as B.Tech., B.Des. Law etc are concerned, for students doing a 3 year BA, BSc, B.Com, BBA it becomes a challenge. However, quite a few B-Schools have started accepting the 3-year degree from India and students need to look out for them.
- Academic Record: Students have to make sure that they have a good GPA (more than 3 out of 4) in the previously acquired degree for being considered for admission in the top B-Schools.
- GMAT/GRE scores: For admission to most of the leading business schools in the United States, a strong GMAT score is required. Of late the B-schools have also started accepting the GRE scores too in lieu of the GMAT scores
- TOEFL/IELTS scores: Students from India need to prove their proficiency in the English language by taking TOEFL or IELTS. Each university has its threshold but a TOEFL score of 100 or an IELTS score of 6.5 is considered acceptable.
- Work Experience: Students should have a minimum of three years of professional experience to study MBA in most of the B-Schools in the US. This, however, varies between B-Schools and is dependent on the MBA program selected.
Documentation
- Academic Transcripts: A scanned copy of all transcripts from all the universities/colleges that the student has attended in English for uploading along with the application
- Standardized Test Scores: GRE/GMAT and IELTS/TOEFL scores must be sent directly from the testing agency to the B-Schools that the student is applying to.
- LORs: Two academic and one professional letters of recommendation(LOR) will always help strengthen your application, although certain universities may just require two LORs. These letters must be written in detail with anecdotes to support the claims. They have to be written by either the direct supervisor/ ex-manager/ senior colleague/ client (if the applicant is woking) or someone who has managed the applicant in an internship/ extra-curricular activity (in the absence of work experience.)
- Curriculum Vitae (CV): An updated CV that describes your professional experience and skills in general.
- Statement of Purpose (SOP): Some B-Schools may demand a SOP. These should include a brief explanation of why you wish to pursue that programme and why you choose that B-School. The SOP plays a very significant role in the admission process of a candidate into a business school in the US. An authentic and heartfelt narrative in your SOP enables the admission committee of the B-school to analyze your goals and assess your qualitative abilities
Process
We recommend the following nine-step process for succeeding in getting an MBA admission at the US B-Schools:
- Choosing a Specialization: Choose an MBA specialization from the 50 odd available ones in the US. An MBA program expands your knowledge, sharpens your skills, meet like-minded business people and entrepreneurs and learn how to approach business situations from different perspectives. However, given the forces of globalization and technological disruption, you must decide between a general MBA versus specialized MBA.
- Cast a Budget: Once the specialization is decided, you must budget your expenses. This best done by studying the tuition fees and the cost of attendance of the program. Now is also the time to discover and evaluate ways you can fund your education such as scholarships, student loans, assistantships etc.
- Shortlist B-Schools: With the budget in place, you now have to shortlist B-Schools. The most common way of shortlisting universities is to look at rankings. But it’s important to look beyond rankings. You must look at factors such as location, living expenses, return on investment on the program, alumni success rate, on-campus placements & career opportunities, and financial aid & scholarships for international students.
- Get your transcripts ready: Having shortlisted your B-Schools it is time to get your transcripts ready for submitting with the application. An accredited undergraduate degree is an essential prerequisite for your MBA application. Do take time to prepare official transcripts as evidence of your previous studies and achievements and once ready, submit them along with your application.
- Take the tests: Take your GMAT/GRE sand TOEFL/IELTS and get your test scores sent to the B-Schools you are applying to.
- Create your CV: Make your CV. Highlight your professional experience. What needs to stand out in your CV is your unique selling point. What is the one thing that makes you THE candidate for that business school? Once ready with your CV submit it with your application
- Write your Statement of Purpose: Your SOP is one of the most important application documents when it comes to admissions as it highlights what you have done, what you are doing right now, and what you intend to do in the future and sets you apart from other applicants. It allows you to present your future goals and aspirations in front of the admissions committee, which in turn helps them decide whether you are suitable for a particular program or not. Once ready with your SOP, submit it with your application.
- Get your LORs sent by the recommender. Follow up and get your LORs sent before your application deadline. Make sure they provide a favorable picture of your academic performance, strengths, experiences, achievements, contributions, and skills to establish why you’re a good fit for the program and vouch for your potential.
- The last step in the MBA admission process is the interview round. This is where the interviewer gets a chance to gauge a candidate’s profile based on his/her academic performance, essays, LORs, GMAT scores, and the score of English proficiency tests. Mostly B-Schools are looking for leadership qualities, intellectual curiosity, emotional maturity and critical thinking ability. Once you establish these in your interview as also your application, you would be close to success in your journey for an admission into an MBA program.
As you would have gathered by now, the admission process for an MBA from a US B-School is very comprehensive. It evaluates the applicant holistically through a wide spectrum of written and inter-personal means as also tests and academic history. No wonder then an MBA from the US is a prized program and students from all over the world apply for an admission to it.
So, if you plan to do an MBA from the US, contact us. We can guide and support you through the entire process of the MBA admission to the US B-Schools.
