How can I prepare for Business School?

Answer 1

If you know you're headed to business school to pursue an MBA after college, you can capitalize on your foresight by using your undergrad years to prepare for business school. And it's even more important if you hope to enter business school straight out of undergrad because you're coming in at a disadvantage.

While some top schools will consider students with little or no work experience, the vast majority of business school candidates have already served tours of duty in the workforce by the time they start working toward their MBA. Students at most business schools have an average of three to five years of work experience, and many schools strictly adhere to a two-year minimum. In fact, almost 80 percent of business students have three or more years of work experience.

It's no reason to despair. That still leaves a thriving 20 percent who are getting their MBA without it. But if you're falling into that 20 percent group, you want to make sure that you and your application are as tempting to a business school admissions officer as possible. Below are some suggestions for doing just that.

Take the GMAT--but only when you're well-prepared. Great GMAT scores won't necessarily get you into the school of your choice (there are too many other factors), but low scores will almost certainly keep you out. Your GMAT score will be scrutinized closely, as will your GPA, because the admissions committee has no work experience from you to consider that might otherwise help to balance out the other factors.

Research schools--and apply to at least several schools that are known to admit "non-traditional" students like yourself. Start by using the Advanced Business School Search. (linked below) When you indicate your credentials and preferences you'll receive a list of schools that might be good matches.

Study abroad, especially if you're interested in international business. In any case, learning about different cultures is always a good business move. Becoming proficient in a foreign language isn't a bad idea either!

Take a communications class. Hone your public speaking and writing skills not just your analytical skills. Communication skills can help make a solid impression in your essay and at a business school interview.

Get an internship during at least one summer in college. Build contacts, gain real-business-world experience, and work hard. Ideally, you'll get at least one good recommender out of it--which might be payment enough. If you have the option, take an internship at the most distinguished company you can, and offer to return the following summer--possibly with added responsibility and some additional compensation. Note that internship experience does NOT count as full-time work experience, even if you are working 40+ hours per week.

Do business-related papers for your classes. Case studies are a big part of the MBA curriculum. This basically means that students are presented with real or hypothetical business scenarios and asked to analyze them. If something along these lines happens to work for a college paper topic, by all means get some practice in now.

Keep your GPA as high as possible. In addition, take challenging courses and load up on business-related electives. Speak with your advisor about his or her suggestions for a pre-business school course load--as well as suggestions on business schools that consider students coming straight out of undergrad. Ask your advisor if there is an organization on campus for students who plan to go on to business school--many colleges have them.

Major in something that truly interests you. Don't be fooled that you need to major in business to go on to business school. Do, however, take a few hardcore math, economics, statistics, and/or accounting courses. These will give you the skills you need with spreadsheets, calculus, statistics, accounting, and economics that you will need for all the quantitative work in business school. Make sure you get A's in these courses, too--you're going to need those to impress the admissions committee.

Get to know professors who could be good future recommenders. Almost all MBA program applications require two to three letters of recommendation from third parties capable of commenting on your qualifications for business school. Again, your lack of work experience will put more weight on every other aspect of the application, including your letters of recommendation. Recommendations should specifically mention why you should be an exception to the rule. If a professor or work supervisor also teaches or lectures at a business school, so much the better.

Make your goals known. Having friends, family, and faculty behind you for support while you prepare to apply can make all the difference both in how you approach the process and how able you are to stick to your goals and follow through with the application.

Join an organization in which you can gain a leadership position. This might be a fraternity or sorority, a political group, or any group that interests you. Demonstrating leadership and long-term commitments is like a gold star on your application.

Get in touch with your inner entrepreneur. It isn't far-fetched for us to suggest that you consider starting your own business, while in college or even before. While some big-time companies have had their beginnings while their CEOs were in college, your business can be as modest as t-shirts made for school events, a messenger service, an editing service for term papers, or anything else that strikes a passionate chord in you. Owning and operating even a small business demonstrates many traits of a true businessperson.

Admissions committees look at several factors, including academic record, work experience, and GMAT scores. The "ideal" business-school candidate is strong in all three areas; however, it is possible to make up for shortcomings in one area with strong showings in the other areas. For applicants with limited work experience, academic record and GMAT scores play a more prominent role. So…

Consider getting some real-world experience before you go to the trouble of applying with underdog chances. You'll need to get a job anyway, if you don't get in to business school. If your grades are weak, consider working a few years before applying. The more professional success you have, the greater the likelihood that the admissions officials will be more forgiving of that GPA. Besides, even with a MBA in tow, a recent MBA grad with little or no job experience often finds the job search to be a more painstaking ordeal than a recent college grad or a recent MBA grad who worked before heading to business school.

Whichever way you decide to go, don't get discouraged. Most business programs know that in school--just like in a company--it takes a mix of people with different assets, backgrounds, talents, and experiences to run a successful machine.

Good luck!

Answer 2

Are you talking about an MBA program?

The truth is that the good ones are hard to get into -- but an MBA isn't a difficult degree to get. If you haven't done much math lately, brush up on your algebra and statistics.

If you are talking about an undergraduate B-School -- prepare the same way you would for any degree. My advice is to take a number of electives -- especially in mathematics and statistics.

Answer 3

How approximately this: Until you begin institution, positioned each bit (or a minimum of so much) of your paycheck right into a separate account (financial savings or cash marketplace). Try to not contact that money and use your husband's revenue to pay all of the expenses. This will have to permit you to peer how tough it is going to be at the same time having your cash in reserve. If you'll do it, suppose of the money you are going to have in that account by way of 2008! Ron, ChFC