Main menu

Pages

Decision Time: Which MBA Program Offers Should I Accept?

featured image

To Lake sydneyApril 8, 2022 12:33 PM

Snowstorm in January 2022 at Harvard, Cambridge, Massachusetts.

Adam Grantsman / Getty Images

The seemingly difficult part is done. You have polished your MBA application, prepared and shattered your interview, and wrote down a good testimonial. Admission decisions are now beginning to flood your inbox. Maybe you knew exactly what your best school was, but more likely when you’re making a difficult decision.

“If you really have that secure option, the idea is very different,” said Shaifali Aggarwal, a Harvard Business School (HBS) graduate and founder and CEO of MBA admissions consulting firm Ivy Groupe. Aggarwal will instruct clients to enroll in 5-8 business schools. This is because about half of that number is usually accepted. Still, business school applicants have to make difficult decisions.

It’s an exciting time, but you need to think carefully when choosing which school to attend in the end. luck We talked to a couple of business school admissions professionals to learn what to consider before candidates formally accept the spot.

Know the school

It takes a lot of research to decide which business school to apply for, but at the time of the decision, you need to think more deeply about how your life in the program will be. Therefore, business school candidates need to think about the “four Cs” when choosing which business school to attend. Nelly Gainer, a former associate director of the Wharton School of the University of Pennsylvania, said: luck. These four Cs are career, curriculum, culture and community, and cost...

“Similar to the admission process, which business school you attend is your own choice according to your career goals,” says Gainer, who is currently working with admissions consultant Ivy Wise. It’s important to question whether the program will help you reach your career goals, develop the skills you’re looking for, and give you the return on investment you’re looking for, she adds.

One way to answer these questions and get to know the program at a deeper level is to talk to graduates, says Aggarwal. Many schools hold events for enrolled students and have the opportunity to interact with graduates and other students.

“You can be a little more frank with your question,” says Aggarwal. “You don’t necessarily have to talk about all the positive factors.”

She points out that tough questions may address what the graduates have changed about the program, or what they didn’t particularly like.

Know your scholarship options

As Gainer suggests, the cost of an MBA program is one of the most important factors to consider when choosing a business school. Obtaining an MBA can cost an average of $ 50,000 to $ 100,000, but some t0p-ranked business schools total more than $ 200,000.

HBS, this luck It is ranked as having the top business schools in the country, and the annual price is about $ 111,000. Stanford Graduate Business School (2nd) costs over $ 119,000 annually. Wharton (3rd) is over $ 115,000 a year.

However, many business schools offer financial assistance and scholarships to mitigate the impact of these high price tags. According to Harvard’s Department of Financial Assistance, Harvard University offers scholarships based on needs totaling $ 40,000 to $ 80,000. But at Harvard and Stanford, it’s a little harder to get merit-based scholarships, Agarwal said.

Some of the other M7 schools, such as Wharton, Kellogg School of Management at Northwestern University, Booth Business School at Chicago University, Massachusetts Institute of Technology, and Columbia University, offer merit-based financial assistance. Business school candidates who receive financial assistance packages from schools that may not be ranked in the M7 or Top 20 will get more funding from the top business schools admitted through a process called matching. You can take advantage of those offers to do so.

If a candidate has a scholarship offer from one business school, for example $ 40,000, the candidate can look back on another program seeking the same amount or “match”. The program may not be able to offer the same amount, but you may at least receive a better financial assistance package.

“If you do it carefully, it doesn’t hurt to just ask,” says Agarwal.

Gut check

Fame and school names can certainly encourage students to apply, but that’s not the only reason to commit.

“Prestige is just one of the big puzzles in deciding on a business school offer,” says Gainer. “ Students who are motivated, goal-oriented, ambitious, and know what they want to achieve in their business career can see the entire package presented, including academics, student life, location, and fit. It will be more sexual.’And other important factors. “

It’s important to know which cities are completing the MBA program, but it’s even more important to actually reassess your goals.

“Ultimately, I think it will result in that gut sensation,” says Aggarwal. She adds that looking at the employer’s report, talking to career services, and visiting the school again will help you make decisions.

“Do a gut check and make sure the business school you decide is what your instincts are leading you,” Gainer agrees. “This is a logical process as well as a personal self-reflexive process.”

See how the school you are considering has progressed luckRanking of the best business analytics programs, Data science programs, and part-time, executive, full-time, And an online MBA program.