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I decided to pursue my MBA around the end of 2023. Why? I felt I needed a change in my life and wanted exposure to new experiences and a new environment. I had lived in my home city my entire life. It was also a chance for me to learn new professional and personal skills, learn about myself and my capabilities, and connect with professionals from across the world to get new ideas and inspiration.

The “Why”: Defining Your Goals

Knowing the “why” is super important. It is not only a common question in MBA interviews but also a question that you and the people around you will keep asking. Having a clear goal regarding why you are moving to a new country to attend a new school and paying hefty fees for a degree is a must before making that decision.

Knowing the “why” will also help you figure out what you want from the MBA program. The value of an MBA today isn’t the same as it was in 2012. With AI, the dynamics around degrees are changing, so it is really important to know what you want out of the program.

  • Is it to build a network?
  • Is it to switch careers?
  • Do you want to start a new business?
  • Do you want to strengthen your current career?
  • Do you want to change where you work?

These are all good reasons to pursue a masters program like a MBA. Again, the choice of the school depends on some of these factors. For example, if you want to work in the US, you should pursue an MBA at a US school.

The “How and What”: A Step-by-Step Guide

Getting into a school requires quite a bit of work.

1.The Exams

First are the two exams- one checking your analytical ability and the other your English language skills. GRE/GMAT or university-driven exams (only some schools have them) are required by almost all schools. You can sometimes get a waiver on the exam, but this often reduces your chances of selection and receiving a scholarship (even if schools claim it doesn’t).

Getting a good score is the first hurdle. If you can crack anything above 700 on the GMAT, you are in a good position to get into a top program. There are other parameters, like your work experience and essays, but this is the first filter.

  • Cost: The application fees aren’t cheap (around Rs. 23k or $240 for the GMAT). Giving it your best shot on the first attempt will save time and money.
  • Preparation: The best way to prepare is to learn and do mock tests on a computer in the GMAT format, within a timed environment and with progressive difficulty. Timed mock tests are vital to improving your chances of a high score.

Once you’ve done this, you also need to take an English language test if the MBA is delivered in English. TOEFL and IELTS are the two big ones. I’ve written about IELTS in this blog previously. Some schools allow you to submit scores after your application, up until a certain date.

2. Choosing the Schools

This goes back to your goals. Which region? What are you specializing in? MBA school rankings provide decent criteria for choosing schools, but you must do your own research about the programs and what they specialize in (e.g., some schools are known for consulting). Organize schools into 3 buckets: Dream, Good to have, Safe.

“Safe” schools are the ones where you know it is fairly easy to get in compared to the other two. It is crucial to spend time on this because once you move to step 3, it is difficult to come back.Rankings that people usually check: Financial Times (FT), QS, Poets & Quants. It is imperative to understand the ranking logic before jumping to conclusions. Moreover, rankings are just a guide. Talking to alumni and current students, and attending admission events will help you gauge the programs better than blindly following the rankings. Some schools offer an application fee waiver (fees range from ~$100 to ~$200) if you attend their admission events. These events include program briefings, alumni interviews, Q&A sessions, etc. Try to make good use of them.

3. Application & Materials

Once you’ve finished the test and locked in the schools, it’s time to prepare the application materials. You will need to decide which round to apply to well in advance so that you can work backward. Typically schools have 3 rounds, but this number varies.

Round 1 is the best time to apply as you will be in the first pool of students and the entire scholarship fund balance will be available. As you progress through the rounds, filters start thinning your chances. If many engineering students get accepted in the first round, for example, an individual with the same background might find it harder in later rounds. Schools try to balance class profiles across nationalities, professional backgrounds, and age to maintain diversity. Scholarship funds are also used up by the 2nd and 3rd rounds.

These rounds are lined up targeting the Fall intake (September). Some schools also offer a Summer intake or even a January intake. Additionally, applying earlier means you will have ample time for your visa application if you are moving abroad.

Application Materials

You will find the requirements on the school websites. Typically, this involves:

  • Essays: 3-4 questions relating to your goals, scenarios, and problem-solving (usually based on the STAR format).
  • Recommendation letters.
  • Resume.
  • Personal details: Educational and professional history.

Essays are a huge part of an application. They usually cover questions like: Why this school? What are your goals after the MBA? How will you contribute to diversity? Some schools use a different mode of delivery, asking you to prepare a PPT or a video answering some of these questions.

A Note on Consultants: There are many consultants out there who can help you with this. Note: Use consultants only for essays. They usually charge a bomb (north of Rs. 3L or $3000) for full counseling and support (shortlisting schools, essays, mock interviews). From my experience, they are only useful for helping you write and polish your essays. The rest is something you can do better yourself. Don’t waste money on MBA education consultants in this day and age.

Be honest with the essays. Faking it will only get you so far. Using AI to help you write the essay is fine, but don’t copy AI content directly. Schools have AI flagging software, and you can do a cursory check with free online tools like ZeroGPT.

Recommendation Letters: Many schools follow the GMAC format, so it is easier for your recommenders if you are applying to multiple schools. Ensure that the letters do not conflict with what you wrote in your application essays.

Interviews

If you’re selected for an interview - great news, you have crossed a huge hurdle. The school has identified that you are a good fit for their program. Now it is all about talking to you face-to-face to understand the person behind the application.

It is mostly like a conversation where they ask you questions based on your experience, goals, character, and problem-solving ability. Speaking confidently and being cohesive with your answers should get you through. This is a business school, so they expect you to communicate well. MBA programs have coursework heavily revolving around presentations and class participation, so it is important that you demonstrate good communication skills.

Key Takeaways

To sum it up, applying for an MBA is not a simple or quick task. It involves months of planning and effort. If done in a phased and timely manner, it is very possible to get into the school of your choice, provided you have the credentials. My key takeaways from this entire process are:

  1. Why MBA and What after MBA: This is really important before you even start the process, as this degree is quite expensive and might require quitting your current job and moving to a new country. The opportunity cost needs to be considered, as you are spending money on the application, tests, visa, tuition, and living expenses while not working (some students do work in parallel, but it depends on their company or family business).
  2. Know your level: Understanding where you stand is key before selecting schools. Yes, every applicant wants to join Harvard or Stanford, but do you have the credentials to apply? Do you have a top score, good work experience with worthy achievements, and a strong undergraduate education? I’m not saying don’t be ambitious, but it is better to operate at a realistic level. You will be competing with other students for grades and opportunities. Knowing what you can handle will make life easier. The expectations will also change based on the level of the school—can you match them? Each school has a brand name, and outsiders will immediately associate you as an alumnus/alumna of that brand once they learn about your school.
  3. Treat it like a project: Applicants are usually either working for a company or running their family business, so managing time will ensure you don’t rush things. Schools publish all deadline dates well in advance, so try to fix a round and work backward on your process. This includes taking the test, shortlisting schools, and preparing materials like essays and recommendation letters. Each step has its own challenges, and it is a linear process with little room to go back and forth. If for some reason (work or personal) you are not ready with a good application for Round 1, it is fine to push it to Round 2. Submitting a half-baked application will do no good.

Do not fret if you cannot get in; there are always opportunities. An MBA is not the only path in the world to reach your goals.

Photo by Joshua Hoehne on Unsplash