Applying to MBA programs is an extensive progress. Although admission requirements can vary from program to program and school to school, most MBA programs ask for transcripts, recommendation letters, GMAT scores, and a resume. Students who speak English as a second language may also be asked to submit TOEFL scores. Other requirements may include essay submissions, a specific amount of work experience, and submission of a formal application.
Most programs look for three specific things:
- Academic Ability - Admissions committees need to know that you can keep up with the curriculum.
- Professional Experience and Potential - MBA program applicants need professional work experience. They also need to have career goals and a reason for wanting to earn an MBA.
- Personal Characteristics - Admissions committees want to know who you are. What makes you an individual? Do you have leadership potential? Admissions reps also want to ensure that you are a good fit for the school--this is important for them and you.
- MBA Admissions 101
- MBA Admission Strategy
- How to Get Into a Top MBA Program
- GMAT Test 101
- 10 Sample Recommendation Letters
- Sample MBA Admission Essays
- How to Demonstrate Leadership Experience
MBA programs are not cheap, and paying for an entire program on your own can be difficult. Although there are some scholarships and grants available for graduate-level students, most awards are designed for undergraduates. You will have to be diligent in your scholarship search if you need aid to help cover MBA program costs. If you are enrolled in a part-time or executive MBA program, you may be able to get your employer to cover all or part of the tuition for you. Many businesses are willing to help pay for education costs--the catch is that you may be required to work for that employer for a specific amount of time after graduation.
If you can not find grants, scholarships, or other types of aid, you may need to take out a loan to pay for your tuition and other associated costs. MBA loans are available from many different private sources. You may also be able to get a low-interest government loan. You can read more about paying for MBA programs by clicking on the links below:
- How Much Do MBA Programs Cost?
- 10 Professional Organizations That Offer Business Scholarships
- Grant and Scholarship Resources for Minorities
- How to Get Your Boss to Pay for Your MBA
- How to Apply for an MBA Loan
There are many different career paths open to graduates of MBA programs. Most grads choose to work in some area of business and management. However, there are other industries that hire MBA grads. Individuals with an entrepreneurial spirit can also choose to go into business for themselves. Read more about career options for MBA grads.
