MBA Programs in the U.S
An Indian Applicant’s Guide to Getting In
There was a time not too long ago when getting an MBA from any University in the U.S. was a sure ticket to a senior management position in a prominent company. With many regions of the world economy at a relative standstill, persistently high unemployment in the U.S. and intense competition for jobs, students considering an MBA must be more selective when they choose an MBA program in the U.S. or elsewhere. The quality and strength of the MBA program you pursue will significantly influence your career options and career paths.
Interest in pursuing an MBA continues to increase among students from India according to the Graduate Management Admission Council’s (GMAC) World Geographic Trend Report. Between 2005-2009, the number of examinees from India submitting their GMAT scores to business schools around the world increased 343% (Table I). In fact, programs in India and Singapore experienced the largest percentage increase in the number of GMAT scores reported between 2005-2009. At the same time, according to a recent survey by GMAC, 47% of the 476 MBA programs in the U.S reported a decrease in applications to MBA programs. So, while the competition among applicants from Asia might be higher, the competition to get into top business schools in the U.S. may be easing up a bit, which bodes well for applicants from India. The other good news is that the job market for MBA graduates is making a slow but steady recovery after a weak hiring season according to a recent article in Bloomberg Business Week (Damast, 2010).
Why get an MBA?
Despite all the doom and gloom surrounding the world economy, this may be the best time to get an MBA from a school in the U.S. as universities are more actively recruiting international students, especially students from India, China, and other emerging economies where the options for pursuing a quality MBA may be limited. A recent Wall Street Journal article reported U.S. Universities’ increased interest in India and other emerging markets because of the decline in international applications (Middleton, 2010). Additionally, the meteoric rise in the world’s emerging economies and the relative scarcity of management talent in these countries has created new opportunities for fresh MBAs.
That said, getting an MBA is significant commitment—it requires time, financial commitment and a clear vision of why getting an MBA is the right choice for you at this point in your life. Your reasons for embarking upon this path can range from career advancement within the same industry to a desire to switch careers and pursue something new. Whatever your vision, the better you can articulate it to yourself, the higher your chances of convincing the school that you are a good candidate. Here are a few points to consider as you apply to business schools in the U.S.
What to keep in mind
- Identify Your Criteria. What are your criteria for choosing a school? What area(s) do you want to specialize in? What career opportunities are you seeking? What else are you looking for in a school? Are you comfortable with a large university or would you prefer a smaller one? Do you want closer access to your professors and close connections with the alumni and industry? Are you a happy being in a small town or would you prefer to be in or close to a big city? Is community important to you? Identify the type of business school you want to go to and then look for one with those characteristics.
- Build a Strong Background. Most Business Schools require GMAT, GRE or some kind of entrance test and each school has its own criteria for accepting candidates. Table II gives you an idea about the average GMAT scores accepted by accredited business schools in the U.S. While it is obviously a good idea to strive for the highest score on these tests, U.S. universities in particular are also looking for candidates with credentials that include leadership experience, community service, global awareness, and some business experience. In the past, most schools in India did not emphasize the service learning aspect of education. Furthermore, in my experience, students from India tend to have strong theoretical knowledge but lack the experiential training that is valued in the U.S. If you don’t already have a background that reflects these additional qualities, build one. Seek out opportunities for leadership particularly ethical leadership, community involvement and community service, and experiential learning.
- Select an Accredited Program. Chose a program that is accredited: AACSB International, established in 1916, provides the highest level of accreditation to undergraduate, graduate, doctoral, and accounting programs. Only 579 business schools around the world (less than 6%) are accredited by the AACSB and 469 of these are in the U.S. Many U.S. employers won’t hire graduates from non-accredited programs. A rigorous accreditation such as AACSB signifies quality and standards that are reflected in the quality of education you will receive.
- Assess Your Resources. Many U.S. business schools offer some kind of tuition assistance whether it is in the form of tuition waivers, graduate and teaching assistantships, or a combination thereof. In lean economic times, financial assistance may be more difficult to obtain. Honestly assess your own resources. What can you afford if you are unable to receive financial assistance? Are you willing to take loans and if so, does it impact your choice of schools? While public universities may be somewhat less expensive, private universities may be more flexible in putting together a financial package for strong applicants.
- Differentiate. While a strong GMAT or GRE score is important, it is not the end all. Of course, you want to make sure that you are not too far away from the “average” GMAT score reported by a school, but don’t be disheartened if you did not make the top percentile. Most schools require essays and value statements from applicants. Well-written and well-articulated essays add significantly to your application. Remember, unless you have achieved extraordinary success in your life, your experiences will be similar to other candidates applying to the same school. How you convey your story in a compelling way that resonates with the selection committee is what helps you move from the “applied” pile to the “accepted” pile. Don’t use commercial writing services that claim to write that perfect essay for you. Commercially available essays lack the depth, sincerity and vision that come from a genuine, heartfelt piece. Most selection committees can identify these essays and they do more damage than good to your prospects. Ensure that your references are strong and attest to your overall strengths not merely academic ones.
- Manage Your Timing. Start your search and research early. Give yourself sufficient time to build a strong resume, interesting background, strong references and compelling essays. For international students, at least a one-year window of preparation is required to get into the right school. Give yourself sufficient time to assess your options and articulate your thoughts. Write, re-write, and re-re-write your application and essays to ensure that they are concise, relevant, and complete.
- Prepare for the Test. Getting into a good program will require practice and persistence. Many students can benefit from GMAT and GRE preparation exams not because they help you anticipate the questions but rather because they help you build on the skills that these exams are designed to test.
- Have a Plan “B”. A high GMAT score is no guarantee that you will get into an Ivy League school because most of these schools have a very low acceptance rate, typically in the 12-15% range. Have a list of schools that meet your criteria should your top choices not work out. Bloomberg Business Week, Wall Street Journal, Princeton Review, and many other publications provide program rankings and other useful information on schools around the world.
- Talk to Real Live People. With the ubiquity of digital media, applicants sometimes tend to forget that there are real people who are able and willing to answer your questions. Reach out to the MBA programs that you are considering and make an appointment to talk one-on-one (on the phone) about your questions with the program director or a faculty member. The accessibility of real people also tells you how you will be treated once you get to the school.
- Ask Questions! Irrespective of the school you are planning to attend, seek answers to the following questions:
- What is the faculty profile at the school? Do “star” professors actually teach in the program or are they merely listed on their website?
- What is the school best known for? What recent successes has it had?
- What is the alumni profile for the school? Who are the most successful alumni? Are they connected with the school?
- What kind of industry connections does the school have? What types of firms recruit at the school?
- What kind of support services does the school offer in terms of career planning and placement, internship opportunities, global experiences, etc.?
- How is the campus environment in terms of technology, innovative programs, extracurricular opportunities, etc.?
- What is the student to faculty ratio in the classroom?
- What is the percentage of international students at the school? Does it offer diversity in its faculty and student population?
- What leadership opportunities will you have on campus?
In the end, the decision to enter an MBA program must be a rational one, which fits with your long and short-term goals. The key to getting into a successful program is a strong application which reflects not only your past accomplishments but indeed your potential. Being able to articulate and communicate that potential to your school of choice will ultimately determine your success.
| Table I: | |||||
| TY 2005 | TY 2009 | ||||
| Country/Region* | Scores Sent | % Total | Country/Region* | Scores Sent | % Total |
| 1. United States | 476,197 | 83.90% | 1. United States | 628,431 | 78.41% |
| 2. Canada | 21,230 | 3.74% | 2. United Kingdom | 33,621 | 19% |
| 3. United Kingdom | 16,735 | 2.95% | 3. Canada | 27,005 | 37% |
| 4. France | 9,741 | 1.72% | 4. India | 22,458 | 2.80% |
| 5. Israel | 7,143 | 1.26% | 5. France | 9,191 | 39% |
| 6. India | 5,064 | 0.89% | 6. Singapore | 13,271 | 66% |
| 7. Hong Kong | 3,409 | 0.60% | 7. Israel | 6,789 | 0.85% |
| 8. Singapore | 3,074 | 0.54% | 8. Spain | 6,747 | 0.84% |
| 9. Spain | 2,821 | 0.50% | 9. Hong Kong | 6,731 | 0.84% |
| 10. Greece | 2,466 | 0.43% | 10. Australia | 5,256 | 0.66% |
| # Score Reports Sent 567,004 | # Score Reports Sent 801,504 | ||||
| * Country/region rank based on number of score reports received. | |||||
| Source: World Geographic Trend Report, 2005-2009, Graduate Management Admission Council, p. 8 | |||||
| Table II: Average GMAT® Scores for AACSB-accredited MBA Programs, 2008-2009 | ||||
| #Schools | ||||
| Program Type | Reporting | Average | Median | Range |
| Full-Time Traditional Two-Year | 175 | 603 | 605 | 360-730 |
| Full-Time Accelerated | 87 | 584 | 580 | 321-708 |
| Full-Time Distance Learning | 5 | 509 | 501 | 410-586 |
| Full-Time Other | 68 | 587 | 549 | 450-720 |
| Part-Time Evenings and Weekends | 185 | 555 | 555 | 291-710 |
| Part-Time Off Campus | 47 | 536 | 540 | 400-659 |
| Part-Time Distance Learning | 29 | 563 | 560 | 471-630 |
| Part-Time Other | 41 | 563 | 559 | 350-724 |
| Traditional Executive Education | 50 | 557 | 559 | 420-660 |
| Other Executive Education | 10 | 558 | 567 | 449-640 |
| Source: Business School Data Trends and 2010 List of Accredited Schools, AACSB-International, p.25 | ||||
Chart I: Trends in Average GMAT Scores
Source: Business School Data Trends and 2010 List of Accredited Schools, AACSB-International.
References
Damast, Alison (2010), “MBA Job Placement Rates Trending Higher,” Business Week, November 4. 2010.
Middleton, Diana (2010), “B-Schools Redouble Efforts Overseas: As Applications From Foreign Students Dwindle, American Institutions Work Harder to Recruit International Students, Wall Street Journal.
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