BUSINESS SCHOOL (MBA) INFORMATION

What is an MBA?

The Master of Business Association (MBA) is a professional degree that prepares   individuals for careers in a variety of fields, including business, government, international agencies, and the non-profit sector. The core courses in the MBA program are designed to introduce students to the various areas of business such as accounting, consulting, marketing, human resources, operations management, etc. On average, an MBA takes two years to complete.

What are the benefits of an MBA?

Earning an MBA can provide management skills and business expertise that may lead to new career opportunities. If you are working in business and have an interest in moving up the ladder or developing an area of expertise other than your current one, an MBA program may help you achieve your goals. Furthermore, an MBA degree may pave the way to a higher level position with more interesting and rewarding work.

What Makes For A Strong MBA?

     Work Experience

     For most MBA programs, it is important to have several years of work experience prior to applying.  A professional record of 2 to 4 years should demonstrate an applicant’s business acumen, quantified growth and promotion potential.

     Academic achievement and aptitude

     Business schools look for students who can handle the challenges of a business school curriculum. To determine this, business schools review your GMAT score, cumulative GPA, and the general trends in your academic performance. Your undergraduate major does not have to relate to business, i.e., you do not have to major in economics, etc.. Because there are no constraints, you should select a major that you enjoy as students often succeed most in the classes of greatest interest. Business schools favor students with a diverse background and fund of knowledge.

     A strong quantitative background

     The stronger your quantitative background, the better prepared you will be to take graduate courses such as finance, statistics, accounting, and economics. Calculus and statistics are good undergraduate foundation courses, as business schools like to see students have the capacity to handle them. Business schools also look to strong quantitative GMAT scores.

     A history of involvement in extra-curricular activities and community service

     Business schools look at your on and off campus engagement in community service and volunteering. It is important to connect with people from diverse backgrounds. Other substantive involvements during college that strengthen an application include extra-curricular activities that highlight leadership ability, long-term commitments, and strong social skills.

     A habit of leadership

     This can be quantified in many ways, from college extracurricular activities to academic or business achievements, from personal accomplishments to community commitments. Leadership on any scale is recognized as important.
 

APPLYING TO MBA PROGRAMS

When applying to business school, you will find that the admissions process can be rather extensive, with many issues to consider.  Below are some important factors to note:  

Taking the GMAT

The Graduate Management Admissions Test (GMAT) is offered year round and administered as a computer adaptive test.  GMAT scores are valid for 5 years after the test date. A high score does not guarantee anyone's acceptance, nor does a low score preclude it. There is no minimum score required. Your three most recent sets of GMAT scores are reported to the Business schools to whom you direct your score report. So if you take the GMAT a fourth time, scores from your first GMAT are dropped from your score report. Each Business school establishes its own policy for processing multiple GMAT scores. The most common policy is to average multiple scores. A minority of schools will disregard all but your highest scores.

Choosing an MBA Program

(1) Start gathering information and researching schools. There is no central application, so each program / school has its own application and requirements.

(2)  Identify schools with strengths that correspond to your interests and aptitudes. Choose a school with the courses and faculty that will help you prepare to work in the companies or industries that suit you.

(3) Identify elective courses that will prepare you for MBA internships and jobs.  Many schools require candidates to select their concentration and electives as early as second semester.

(4)  Business Schools have different ways of teaching students:  

     Case Method - Business cases are historical descriptions of actual business situations. Typically, information is presented about a business firm's products, markets, competition, financial structure, sales volumes, management, employees and other factors affecting the firm's success. Students are expected to scrutinize the case study and prepare to discuss strategies and tactics that the firm should employ in the future.

     Skills-Based Approach - In contrast to the case method some schools use a skills-based approach in teaching business. This approach emphasizes quantitative methods, in particular operations research, management information systems, statistics, organizational behavior, modeling and simulation, and decision science. The goal is to provide students a set of tools that will prepare them to tackle and solve problems.

     Standard Lecture - There are also several business school that still rely on the lecture method to give students a basic business education. Lectures are generally given from the professor's point of view, and rarely require interaction from the students unless note taking is required.

When Should I apply?

(1) The average student has worked for 4 to 5 years between college and the MBA program. Some programs accept early career candidates with limited or no experience who exhibit strong managerial and professional potential. Work experience is not evaluated in terms of years, but in the depth and breadth of an individual's position, the applicant’s contributions to the work environment, and the level of responsibility and progression.  Admissions officers caution that you should apply only when you can submit your strongest application.

(2) Your years of work should present a track record of excelling and evidence of professional growth.

(3) When you apply can affect your chances of acceptance. Applying early during an application cycle is best, as business schools have competitive rolling admission deadlines.

What should I do about Letters of Recommendation?

(1) On average you will need 2-3 letters of recommendation for an MBA application.

(2) Letters of recommendation provide specific information that demonstrates your ability to excel in both an MBA program and in a business/professional career.

(3) Choose a good cross-section of people such as employers, professors, and mentors who can vouch for your skills, quality of characteristics, and suitability for graduate studies.

(4) It is a good idea to keep in contact with undergraduate faculty advisors, research mentors or professors for a recommendation.  

(5) Recommendations from employers and research supervisors can provide specific information about your work experience. Academic letters of recommendation provide information about your classroom performance.

(6) Schools have differing views on who makes a good reference. Check with individual business schools to which you are applying before selecting who will write your letters.

WHAT CAN I DO TO PREPARE?

•    Take classes outside of your area of specialty. As previously mentioned, you do not have to be a business or economics major to gain admission to an MBA program. Any major can be a great foundation for a graduate management education.  For humanities majors, consider taking calculus, accounting and/or statistics classes. For science/engineering/business students, consider taking humanities or social science classes.

•    Prepare well in advance for the GMAT and try to take the test during your undergraduate years, as most students tend to perform better while still in “academic mode.”

•    Get involved outside the classroom and take on leadership roles.

•    Get involved in activities that demonstrate your passion.

•    Explore your professional pursuits by completing summer internships. Cultivate relationships with supervisors and mentors. Participate in informational interviews to explore different careers.

•    Research your post-college career options early in your undergraduate career.  Clarity of career path and decision-making abilities are important skills and attributes found in good business school candidates.

•    Visit business school campuses and meet students, faculty, and staff.

•    Attend business school events and/or business school fairs. It is a great opportunity to interact with alumni, admissions staff, and sometimes current students.

RESOURCES AT JHU

Office of Career Services: http://www.jhu.edu/careers/    

The Career Center serves all students (freshmen through PhD) and alumni of the full-time programs in the Krieger School of Arts & Sciences and the Whiting School of Engineering. The Career Center offers limited services for part-time students. Whether you are just beginning to think about careers, seeking an internship, or applying for jobs, the Career Center is here to help.

Office of Pre-Professional Programs and Advising: http://web.jhu.edu/prepro

The Office of Pre-Professional Programs and Advising serves undergraduates, graduate students, and alumni of the Krieger School of Arts & Sciences and the Whiting School of Engineering pursuing professions in health (including medicine), law, and/or business.  Through encouraging thoughtful and informed decisions, staff and advisors provide advice and counsel to students and alumni as they clarify and pursue their professional goals.

USEFUL LINKS

U.S. News – Best Business Schools Ranked in 2009
Princeton Review -- http://www.princetonreview.com/business-school.aspx
MBA.com -- http://www.mba.com/mba
TopMBA -- http://topmba.com/
Grad Schools -- http://www.gradschools.com/business-programs.html