MBA Schools

Business School Essay Tips - 5 Elements To Consider On A MBA School Application

2008-05-14T10:52:00.001-07:00

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Business School Essay Secrets

Business school students face a uniquely difficult challenge, because most programs require a series of essays rather than a single, comprehensive personal statement. This fact alone should indicate the importance that business schools place on your written responses. Part of the reason for this extra required writing is that business schools also place a stronger emphasis on practical experience. Academic ability may still be the number-one factor, but it's not enough to get you into a school, just as it's not enough to guarantee your success in the business world. Business schools pay close attention to personal qualities, including your leadership, communication skills, initiative, vision, and many more. Grades and scores do not explain this side of you, and neither does a resume.

Thus your admission will depend largely on your ability to convey your experiences and goals in written form. Self-assessment is a significant part of this process, as is a careful review of both your life and what you have done professionally. Many successful professionals have simply never had to articulate their accomplishments before and now for the first time must communicate this information in a very clear, concise, powerful manner that is accessible to anyone, even without knowledge of their field. Being able to convey both the substance and significance of one's work life is crucial for all applicants.

If you remember nothing else about this article, remember this: Be Interesting. Be Concise.

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Google, Nike, and Apple: How Sneakers, iPods, and a Search Engine Are Wooing MBAs

2007-10-25T10:50:00.000-07:00

Graduates from MBA programs can hardly be called starry-eyed idealists. Instead, they are smart, discerning business-executives-to-be and set their sites on the companies that pay well, hire extensively, and treat their employees with respect.

Every year, Universum Communications, a research and consulting firm, surveys 5,000 graduating MBAs and asks them whom they’d like to work for. This year’s list offered some surprises—BMW and Coca-Cola were knocked out of the top ten by newcomers Bain and the Boston Consulting Group.

Here are brief profiles of the top ten companies on the list.

Blackberries, Hurricanes, and Eco-Business: Ten Unique MBA Careers

2007-10-25T10:48:00.000-07:00

With so many changes in the business world, it’s not shocking that many new business careers have emerged. If you are the proud holder of an MBA, you are no longer restricted to finance or basic administration tasks; there is a world of interesting careers for the MBA graduate. Here are ten of the latest hot MBA career trends.

Director of Mobile Computing. Love your Blackberry or Trio? Itching to get your hands on the new iPhone? Is your laptop welded to your fingertips? If you love mobile technology and have an MBA with a focus on information technology, this might be the career for you. CNN Money says that keeping all these mobile lifelines updated and in good working order now comes with a title and a nice paycheck.

Director of Internal Controls. Thanks to legislation like the Sarbanes-Oxley Act, businesses are awash in new rules regarding their money management. Companies now need an individual who can manage the flow of internal financial information, make sure everyone is complying with rules and regulations, safeguard assets, adhere to company policies—and promote efficiency at the same time. If you have an MBA with a focus on accounting and finance, this might be your fast track to the corner office.

MBA: Marketing & Market Research

2007-08-21T10:26:00.000-07:00

As consumers have gained more control in the marketplace, Marketing and Market Research has become central to critical business decisions. Many CEO’s are now demanding their organizations understand and leverage consumer knowledge for competitive advantage. As a result, demand for marketing researchers has grown and the profession has gained national recognition. In 2006, Money Magazine rated marketing research analyst as the #6 best job in America, based not only on its growth and salary potential, but also flexibility, stress levels and ease of entry/advancement.

What is Marketing and Market Research?

Most people think that marketing is only about the advertising and/or selling of goods and services. Advertising and selling, however, are just two of the many marketing activities. In general, marketing activities are all those associated with identifying the particular wants and needs of a target market of customers, and then going about satisfying those customers better than the competition.

MBA Entrepreneurship

2007-08-21T10:25:00.002-07:00

It’s been said that “entrepreneurs are simply those who understand that there is little difference between obstacle and opportunity and are able to turn both to their advantage.” Victor Kiam, a famous entrepreneur and former owner of the New England Patriots puts it more plainly: “Entrepreneurs are risk takers, willing to roll the dice with their money or reputation on the line in support of an idea or enterprise. They willingly assume responsibility for the success or failure of a venture and are answerable for all its facets.”

Are you a risk taker? Do you dream of owning your own successful business? The remarkable tool you can use to carve out that success is the MBA with a focus on Entrepreneurship.

What is an MBA in Entrepreneurship?

The Master of Business Administration in Entrepreneurship is a program designed for individuals interested in developing their entrepreneurial potential. In today’s business environment, it is essential for leaders to focus on innovative value-based solutions, and to develop their creative problem-solving skills—all while perceiving change as an opportunity. Individuals leading a small, privately held firm, a non-profit organization, or individuals working in larger public corporations will benefit from the developing their entrepreneurial leadership abilities.

MBA in Accounting

2007-08-21T10:25:00.001-07:00

Sweeping changes in the American corporate landscape have made management-level accounting careers profitable and indispensable. More than ever, working professionals are earning an accounting MBA. In these financial times, public companies are required to take an active role in accounting and oversight reporting which, in turn, has created a greater demand for skilled financial managers with graduate credentials.

MBA in Accounting

An Accounting MBA is a Master in Business Administration with a focus on the accounting side, which is the ideal qualification for anyone interested in, or already working in, the field of business accounts administration. This qualification is invaluable to those entering or already working in finance, as the skills and knowledge acquired through the MBA Accounting degree will enable you to look forward to a successful and lucrative career in business accounting administration.

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MBA in Finance

2007-08-21T10:24:00.000-07:00

Financial concerns are a central part of nearly every organizational decision, whether the organization is a commercial business, a non-profit organization or a government agency. As a result, financial executives are of critical importance to overall planning and control of these organizations.

The financial side of business administration and management can be a complicated, and therefore requires professionals with specialized skills and knowledge to keep business running smoothly. If you are interested in business administration, a Finance MBA is the ideal qualification. If you are already working in business administration, a Finance MBA can help speed you up the corporate ladder.

In this digital age, all business has to operate on the cutting edge, and the pressure in this area can be high. However, with the skills and knowledge of a Finance MBA, you can thrive in today competitive marketplace. With an MBA in finance, you will gain a great foundation on which to build practical experience.

Today, there are lots of options open to those looking to earn an advanced business degree in finance. You can attend a campus and study full time, or keep your day job and earn your degree part-time. Recently, online Finance MBA programs have become popular too, and these are perfect for those wanting to break into or progress in this area but are not able to physically attend college; nothing like attending class in your pajamas.

Doctoral Business Degree

2007-08-21T10:23:00.002-07:00

Do you want to enhance your professional abilities so that you can meet the dynamic needs of modern businesses and academic institutions? Are you interested in research and analysis, as well as hands-on management? If so, a Doctorate in Business Administration might be for you.

The Doctor of Business Administration (DBA) is similar to a PhD. program, but unlike a traditional PhD., it is intended to equip you as a business executive with research tools, rather than train you as a professional researcher. With a DBA, you will acquire a combination of business and research skills for analyzing business and corporate operations. This unique perspective—as both a business manager and a business researcher—will make you invaluable in the corporate world.

Acquisition MBA

2007-08-21T10:23:00.001-07:00

Graduates with an M.B.A. in acquisition are in demand for their skills in the methodologies and techniques for the acquisition and contracting in complex organizations. They are able to analyze the problems associated with mergers and acquisitions. They have the skills to synthesize data and assess relevant quantitative and qualitative information.

As businesses and industries of all sizes expand into new product areas and across national borders around the world, the demand for purchasing agents and buyers is also growing. These purchasing agents and buyers must be able to work with vendors and negotiate prices and contracts in a diverse environment that is being changed by advances in technology and business practices, such as e-commerce.

Supply Chain Management MBA

2007-08-21T10:22:00.000-07:00

There are several general career tracks for those pursuing supply chain management M.B.A. degrees. The corporate retail management track focuses on store operations or merchandising. Analytical retail intelligence prepares graduates for market research, analyzing sales trends, and using scanner data.

Overseeing and managing the process of taking raw materials to finished product has changed due to technologies such as electronic commerce, and the traditional ways of managing supply chains are no longer effective. In today’s e-business environment, a supply chain manager must be able to accommodate technical advances that can influence a business outcome positively or, conversely, make a product outmoded in just a few months. Devices such as Electronic Data Interchange (EDI), Electronic Funds Transfer (EFT), and Point of Sale (POS) have drastically altered how business is done. Satellite networks link suppliers, manufacturers, distributors, and retail outlets to customers.

Health Care MBA

2007-08-21T10:21:00.002-07:00

A health care M.B.A. will provide students with the skills to manage health care organizations, finances, quality and database management, and health care infrastructure. Along with the latest in business analytics and human resource management skills, courses can include health insurance processing, office management, health care administration, medical terminology, and patient relations.

Health care is a growing field with career opportunities for many people, including M.B.A. graduates. Estimates are that it will constitute 20 percent of America’s GDP by 2011. Pharmaceutical companies, hospitals, insurance companies, financial institutions, and government agencies represent some of the potential employers. The field encompasses biotechnology, medical devices, and health care services, to name a few. Venture investors also are taking notice of the opportunities, with investments of 25 to 30 percent of capital funding. In addition, there are opportunities in licensing and joint venturing.

IT Management MBA

2007-08-21T10:21:00.001-07:00

IT management M.B.A. graduates who have a solid foundation in business skills are in demand. For those who have experience with technology, whether in a technology company or a corporation in another business sector, an IT management M.B.A. can be what is needed to move into higher positions. For those who lack technology experience, the IT management M.B.A. offers the leverage needed to open doors into technology management.

In today’s business world, to be competitive means to stay ahead of the information technology (IT) curve. Managers who can run complex intranets as well as interactive Internet sites are integral to any successful company. Computer network security is another big factor in a company’s bottom line, as more and more business is conducted electronically. IT has become a strategic asset that affects an organization’s products, processes, services, management, and customer service. Plus, more computer and information systems managers are asked to make decisions that can affect a company’s success.

Marketing MBA

2007-08-21T10:20:00.000-07:00

The competition to attract consumers to an ever-changing marketplace has created a need for people with razor sharp marketing skills. An M.B.A. in marketing is a big boost for those who either want to break into this dynamic part of business or for those who are looking to progress into managerial roles or senior leadership.

According to the U.S. Department of Labor’s 2004-05 Occupational Outlook Handbook, the demand for marketing, advertising, promotions, and public relations managers is expected to grow faster than average for all occupations through 2012. At the same time, the Outlook states that keen competition for jobs in advertising, marketing, promotions, public relations, and sales management is expected. A marketing M.B.A. can be the determining factor in getting those jobs.

Up & Coming MBA Concentrations

2007-08-21T10:19:00.000-07:00

With the economy up, recruiting for M.B.A. graduates has climbed and is very likely to continue trending upward in 2007, according to the Graduate Management Admission Council’s (GMAC) Corporate Recruiters Survey for 2006-2007. The traditional employers of M.B.A. graduates—consulting, financial services, and consumer goods—are still at the top of the list, but recruiters for marketing, health-care, and biotech companies also are hiring. The National Association of colleges and Employers’ (NACE) Job Outlook 2007 states that manufacturing is aggressive hiring and expects to hire 32.4 percent more M.B.A.'s in 2006-07 than they hired in 2005-06. Real estate, marketing, and investment banking are also up and coming, while on the west coast, the technology sector is specifically growing for M.B.A. graduates.

The report also cites a 15.4 percent increase in service employee hiring. Schools reporting to the M.B.A. Career Services Council say that “recruiting activity is up across nearly all sectors” and that the bellwether recruiting industries are significantly higher than others.

Technology and the MBA Degree

2007-08-21T10:18:00.000-07:00

It is well known that there is no graduate degree out there that is more versatile and has a higher return on investment than the MBA. Sure, it will take two years and lots of hard work to earn that degree, but the payoff is definitely worth it—with an MBA, your career will take off (and so will your salary).

If you are considering earning an MBA, but are not sure what area of business you would like to specialize in, consider this: twenty years ago, the personal computer revolutionized how corporations got work done. In the last ten years, it’s email and the Internet that has changed the way businesses function. Corporations now have powerful computer networks that service their staff (and often their clients)—spanning the globe. Because of this, a new focus is needed in management—a focus on information technology. Information technology is constantly evolving and changing and the average CEO is finding it more and more challenging to keep up with those changes. As a result, the field of information technology is requiring much more skilled professionals—and not just professionals, but managers.

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Sample Business School Essays

2007-08-21T10:16:00.000-07:00

Here is a series of essays from a successful applicant to Columbia Business School in New York City. As you read these essays, think about the points we’ve raised. What makes this candidate’s essays stand out? Note how this candidate successfully makes his real-life experiences—in his career, in his personal life, and in his academic life—relevant to his desire to attend business school.

Sample Business School Essay Topics

Describe the progression of your career to date. Why are you seeking a business degree at this point?
What are your career goals? How will an advanced degree in business help you achieve these goals?
Why do you want to obtain your degree from our particular program?
How has your background, experiences, and education influenced the person you are today?
In reviewing the last five years, describe one or two accomplishments in which you demonstrated leadership.
Discuss a nonacademic personal failure. In what way were you disappointed in yourself? What did you learn from the experience?
Discuss your involvement in a community or extracurricular organization. Include an explanation of how you became involved in the organization and how you help(ed) the organization meet its goals.

Advice From Admissions Directors: Your MBA

2007-08-21T10:15:00.000-07:00

Considering an advanced degree in business? Wondering how to get started? We went right to the source for information. Here you’ll find advice from the admissions directors of three different universities. They’ve given their perspective on the value of an advanced degree in business, what you should look for when choosing a business program, and what they look for when reviewing business school applications.

Julie R. Barefoot
Assistant Dean of Admissions
Goizueta Business School, Emory University Atlanta, GA

It is ideal if candidates begin considering business school while they are still in college. By doing so, they can begin to prepare by taking courses, such as business statistics and/or calculus. This is beneficial because such courses help students to develop analytical skills—even if they aren’t business, math, or science majors. Also, it is typically easier to take these classes while in college, when one’s quantitative skills are still strong. Along those lines, I encourage college seniors to take the GMAT prior to graduation. The test is valid for five years, and most applicants apply to business school within this time frame.

What a way to spend your Saturdays... Earning an MBA!

2007-08-21T10:14:00.000-07:00

Jen knew she needed to do something to help get her career up on its feet—so she decided to pursue an advanced business degree. “I felt earning an MBA would help me achieve the next level in my career. It was also a personal achievement thing for me—to say I had earned an advanced degree.”

So she enrolled in the Suffolk University Executive MBA program with a management concentration. “In my program, the classes were all day Saturday from eight in the morning to five pm, 44 weeks out of the year –which, while painful, I liked more than feeling like I had to race out of work to get to class.”

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Paying for Your Advanced Business Degree

2007-08-21T10:13:00.002-07:00

Now that you’ve made a commitment to getting your advanced business degree, the next question is likely to be, “How will I pay for it?” Luckily, financial aid is readily available to anyone considering returning to school to get an MBA.

The first thing you will have to decide is whether you will go to school either as a full-time or part-time student. About two thirds of business students work toward their degree as part-time students while they continue working full-time. Another consideration is if you work for a company that offers either full or partial tuition reimbursement to its employees. This benefit will greatly reduce your costs.

The good news is that whether you attend full-time or part-time, funding for your graduate business education is readily available. For most students, the primary source of funding is through the various student loan programs. These costs are an investment in your future earnings potential. According to a recent salary survey conducted by the National Association of Colleges and Employers, average starting salary offers for graduates of MBA programs is 25 to 40 percent higher than for non-MBA graduates.

Financing Your MBA

2007-08-21T10:13:00.001-07:00

Now that you’ve made a commitment to get your advanced business degree, the next question is likely to be “How will I finance my MBA?”

The first thing you must decide is whether you will attend school as a full-time or part-time student. About two thirds of business students pursue their degrees as part-time students while continuing to work full-time. Although it will take you longer to earn your degree, the costs are more manageable and the amount of money you’ll need to borrow can be significantly reduced. Another consideration is if you work for a company that offers either full or partial tuition reimbursement to its employees. Some graduate-level business programs are only available to full-time students. If you attend one of these schools, it will not be feasible for you to work full-time. You will need to consider other alternatives to finance your educational expenses.

MBA Expected Starting Salaries

2007-08-21T10:12:00.002-07:00

Just as recruiting has increased in the United States, M.B.A. salaries also have risen—as have tuition costs, which, at the top end, average about $100,000. M.B.A. graduates want a ROI on the substantial investment in their education, and it looks like they’re getting it. The National Association of Colleges and Employers (NACE) puts salaries from the top M.B.A. programs in 2006 at $90,000 and first-year base salaries at $50,000 to $75,000. The report also states that more than 40 percent of new M.B.A. recruits will start their new jobs after graduating at $75,000 and up. The Graduate Management Admission Council (GMAC) Corporate Recruiters Survey Report estimated the 2006 starting annual base salary for new M.B.A. graduates at $80,809, compared to the $78,040 that graduates got in 2005. All in all, average salaries have steadily gone up at 21 percent for the last seven years. Once M.B.A. students hit seniority levels, their salaries can rise up to 50 percent.

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Should You Get Your MBA Online?

2007-08-21T10:12:00.001-07:00

Learning online has become an accepted method of education, and advanced business programs are no exception as they make increased use of distance learning technology. Students are responding to the flexibility of online learning and the fact that they can get an M.B.A. online while keeping their careers on track.

The content of distance learning programs covers a wide range. Many institutions offer hybrid degrees, where students can learn online and also in a traditional class setting.

Online M.B.A. programs offer many advantages, but they're not for everyone. While many distance learning students say they can enhance their careers without disrupting them or their personal lives, others stress the importance of face-to-face learning, especially for business students.

Basics About Getting Your MBA

2007-08-21T10:11:00.001-07:00

The decision to pursue an M.B.A. is a hefty one. Not only do you face significant competition when applying to highly rated programs, but the cost of the degree is considerable. However, as with any well-thought-out business plan, you start with a solid foundation. To get into the M.B.A. program with the best ROI, you must know the basics about the application process. How you prepare your application is key. There are four building blocks: your academic profile, GMAT® score, professional work experience, and your personal qualities.

Academic ProfileThe best way to show your intellectual strength is to demonstrate strong classroom achievement and high aptitude. Your ability to excel as an undergraduate student is directly related to your ability to succeed in a graduate program, although your undergraduate specialization will have little effect on admission to a business school. It is not necessary to take undergraduate courses in business administration because most graduate-level business programs offer or require a core curriculum of basic business courses as part of the graduate degree. However, it is advisable to have basic skills in economics, calculus, and statistics in preparation for graduate study in business.

Where Do I Start Earning My MBA Degree?

2007-08-21T10:07:00.001-07:00

You’ve got that undergraduate degree and you’ve taken a good, long look at the work force and have seen the light. It’s time to earn your MBA. But how to begin? We’re here to help. Below you’ll find the Who, Why, What, Where and How of earning your advanced business degree.

Who

You, of course, that’s who. What do you want out of an MBA? Do you have a career path in mind? Take some time to consider things. What educational environment do you excel in? Are you at your best attending lectures and engaging in discussion, or do you work best at home in front of the computer? Do you need to work while you are going to school? If so, how long can you take to earn your degree? Are you certain you will earn the return on your investment of an MBA education?

All of these are important factors to consider before moving forward. Earning an advanced business degree is a time-consuming—and expensive—commitment. Be sure that you are prepared to go the distance.