The first step towards walking down the most decorated MBA path is figuring out why you
need an MBA- A Global MBA specifically?
Broadly speaking, an MBA can enhance your marketability as a professional and increase the quality and quantity of job opportunities globally. An MBA also helps you build business leadership skills, as well as a global professional network.
But, quantifying the impact of an MBA- a monthly remuneration of $160K-$250K+ is what you are looking at. One of our Kellogg MBA students bagged a $310K offer as well!
Top CEOs, including Sundar Pichai, Satya Nadella & Tim Cook, are all MBA Graduates from the top B-schools. Ask yourself if you want to be in their positions someday!
The Opportunities, exposure and value addition that follow MBA is absolutely unparalleled, and it's often said- the sky is the limit for them.
Let’s take a look at top MBA school rankings:
1. University of Chicago (Booth)
2. University of Pennsylvania (Wharton)
3. Northwestern University (Kellogg)
4. Stanford University
5. Harvard University
6. Massachusetts Institute of Technology (Sloan)
7. Yale University
8. Columbia University
9. University of California--Berkeley (Haas)
10. University of Michigan--Ann Arbor (Ross)
So what does it take to get into the top B-schools?
COMPONENTS OF YOUR MBA APPLICATION
1. Undergraduation- MBA programs accept students from all varieties of disciplines- General or Specialized; Engineering or Finance; Law or Fashion; Entrepreneurship or even Medicine. Most Business schools accept 15+ years of Undergrad education (with 3 years of graduation). Your Grade Point Average (GPA) reflects your academic excellence. On average, an 8+ GPA is considered to be an impressive academic profile.
2. Work Experience- Global B-schools require a minimum of 2+ years of work experience. While the ceiling is not predefined, we have helped students with 2 years of work-ex as well as 14+ years of work-ex get into full-time programs. Entrepreneurial experience/ family business is taken into account equally.
3. GMAT/GRE Test Scores- Universities use these standard tests to assess the Academic Readiness of an incoming MBA candidate. These tests help B-schools ensure that he/she is ready to take up the compulsory rigorous academic curriculum at B-School. Test score requirements differ from school to school, depending on the ranking of the respective school but is absolutely imperative.
4. Academic Profile- Along with your GPA, Adcoms seek how you've gone above and beyond your academics. Undertaking relevant research & academic projects and participating in academic competitions showcases that you were not just constrained to your curriculum but exploring other ways to broaden your understanding of the subject.
5. Internships- Your internship experience in the field that you wish to study further will be a great value-addition to your profile. You need to showcase how you were able to contribute to the organization and create a significant impact!
6. Extra-curricular Profile- Getting though B-school isn't limited to a score alone or how well you've done academically. Adcoms assess the potential of their candidate through their contribution outside of the classroom/profession. Your extra-curricular profile needs to showcase your interests and skills. Your participation in a sports team will showcase your leadership and teamwork; or joining academic clubs which relate to debate, poetry, science, engineering etc. can showcase your skills like networking and communication.
7. Community Work & Volunteering- Social volunteering will be a great value addition to your profile as it will showcase your willingness to make a difference in your community and go beyond your comfort. To gain some volunteering experience, you can volunteer for NGOs, join an environmental group, work for any social causes or join college societies like National Service Scheme &/or Enactus.
8. Essays- Essays are a way of projecting your interest in the school, it also acts as a tool for Adcom to assess your competence. Students submit 3-4 essays per school + 1 Optional essay. Questions vary from school to school, no one shoe fits all. (Word count, type, etc) (Ctrl + C) + (Ctrl + V) one school's essay to the other is a crime and often suicidal!
9. Letter of Recommendations- 2 Recommenders are required for most schools. Current supervisors are always preferred.
Finalizing Recommenders can be taxing- Who should you approach; what can or should be the designation of your Recommender; what is the credibility of the recommender are some of the questions students ask.
THE NEXT PHASE OF YOUR APPLICATION PROCESS
● Personal Interview- When your application gets shortlisted and the Adcom sees your profile befitting their B-School community, you get the most awaited Interview call. Questions often comprise but do not limit to your profile, application, behavioral and situation-based questions. It can be taken by Adcom or a current student of that school.
● Financial Aid/Scholarship- The pitch for scholarship happens post-selection. Our Admissions team helps students get the highest scholarship they can get, assessing their strengths and pitching the same to the respective B-Schools. Our students get anywhere between 30% - 100% tuition fee waiver. More than 60% of our admitted students secure financial aid. Full tuition fee waivers are also not a rare sight either at Top One Percent!
Getting an admit to the top B-schools is indeed a rigorous process, but it is also equally rewarding in terms of the career & salary boost!